The bank said in the recent months, several prominent Indian families have acquired residential and commercial real estate properties in the United Kingdom through financing from Citi Private Bank.
Top brokerages have downgraded OMCs post the government announcement and have reduced their target price by 30 to 50 percent.
As per the data by the DGCI&S, exports of textiles and apparel increased by 11 percent in July 2018.
In a bull case scenario, Morgan Stanley see the index touching 41,500 (bull case scenario), in the base case scenario it sees Sensex to touch 35,700, and in the bear case scenario, it sees Sensex slipping towards 25,000 by December 2018.
This comes at a time when most banks are still hesitant on meeting the RBI’s suggestion last month to link home loans to external benchmark rates.
The research house feels that leverage and cost control should keep margins at least stable with the company's focus remaining on 20 percent sales growth.
Citi has however cut target of the stock to Rs 90 from Rs 100 and is of the view that though current EBITDA is far worse than its peers, it expects better trends in FY19.
Citi has a buy rating on Edelweiss Financial Services with a target of Rs 350 while Credit Suisse has maintained an outperform rating on the stock and has raised the target to Rs 340.
According to data shared by CITI, the import rose during July, August and October, but September figures were not available.
Nomura has retained a neutral rating on Mahindra & Mahindra Financial Services with a target of Rs 460 while Citi has maintained a buy rating on the stock with a target of Rs 500. Both the houses believe that NIM is likely to improve going forward.
Balasubramanian, 46, will take on a larger role in Citi to head the corporate banking for South Asia. He has tendered his resignation at HDFC Bank and is hoping to join Citi before January
Global broking firm CLSA has a sell on Colgate with a target price of Rs 1000 and Credit Suisse is neutral on the stock while Nomura has a buy and has kept a target of Rs 1260.
Citi has retained a buy on BEL with a target price of Rs 213 and expects the company to deliver 13 percent EPS CAGR over FY17-20E with RoE increasing from 18.2 percent in FY17 to 20.6 percent in FY20E driven by steady ordering and execution momentum.
Citi has retained a buy on Oberoi Realty with a target price of Rs 470 while CLSA has also maintained a buy on the stock with a target of Rs 484 despite impact from GST and RERA.
Goyal sees downside risks to aggregate bottom-up FY18 earnings estimates for coverage universe.
CITI has maintained a buy rating on Petronet LNG on potential aquisition in Mundra terminal from GSPL with a target price of Rs 541 and feels that the company is relatively immune to India's broader LNG demand outlook and rising competition from new upcoming regas terminals.
NTPC’s 4QFY17 recurring PAT at Rs 2260 crore was 19 percent below CITI at Rs 2790 crore. The brokerage firm has a buy on NTPC with a target price of Rs 186.
CITI has a buy rating and has cut FY18/19 EPS by 8 percent/4 percent with a target price of Rs310.
Global financial giant Citi has drawn financial ministry officials’ attention that foreign funds and global banks are taking advantage of India’s treaty with France by using Paris as a base for investments in India to escape tax, reports the Economic Times.
Willem Buiter, Global Chief Economist at Citi, sees more downside pressure on crude.
The market is currently driven by global liquidity and it would be too early for investors to take money off the table, Apabhai of Citigroup has said. Yes, valuations do look extreme but investors should not worry about that too much and enjoy the liquidity party for a month of two.
Willem Buiter of Citi feels the emerging markets are unlikely to falter as the momentum in the emerging markets steadily pick up pace in 2017. For instance, he says the worst performers of last year, Russia and Brazil, are showing various positive signs.
In a first, foreign bank Citi will now allow an in-app chat, audio and video call facility for its CitiGold wealth customers to interact with their relationship managers and experts.
While analysts are comfortably placed with the deal‘s pricing, they have highlighted some challenges such as hit in EBITDA margins, lack of synergies, among others, for Havells that will emerge from this deal.