Page 2 - Citi

Citi raises CEO Jane Fraser's 2024 compensation 33% to $34.5 million

The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives, the bank said

Citi appoints K Balasubramanian as India head, subject to RBI approval

Global banking major Citi on Wednesday announced the appointment of K Balasubramanian as the head of India. Balasubramanian's appointment as the India subcontinent sub-cluster and banking head is subject to regulatory approval from the Reserve Bank of India, an official statement said, adding that he will be reporting to head of Asia South Amol Gupte. "India is one of Citi's largest markets globally where we have strong business momentum and we are confident Bala will build further on our leadership position in this key market," Gupte said. The appointment has been necessitated because incumbent Ashu Khullar has been appointed as the co-head of Global Asset Managers (GAM). Khullar will be part of the investment banking global operating committee, as per a memo from Citi's head of banking Vis Raghavan and head of international Ernesto Torres Cantu. "During Ashu's tenure from 2019-2025, Citi has recorded impressive all-round growth becoming the top investment bank across equity capi

Analysts eye up to 53% upside in Vedanta share after Q3; CLSA ups target

The main drivers for Vedanta's positive outlook cited by analysts include strong performance in the aluminium, zinc, and oil segments, cost management efforts, and the ongoing capex plans

Bajaj Auto gets mixed reactions from brokerages after muted Q3 results

Despite the strong export performance, the overall Q3 results were seen as somewhat lacklustre, leading to mixed reactions from brokerages

Brokerages split after JSW Steel Q3 results miss estimates; share down 4%

JSW Steel reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24

Most brokerages lift targets for UltraTech Cement as Q3 nos. top estimates

Goldman Sachs reportedly has maintained a 'Buy' rating and increased its target price to Rs 12,580, up from Rs 12,460, citing volume recovery and lower costs contributing to margin improvement

Global capital mkts see renewed confidence amid rate pivot, says Citi

Moreover, the demand for Debt Capital Markets (DCM) products is underpinned by stable levels of bond maturities, comparable to 2024

Analysts eye 34% upside in RIL post Q3; Jefferies, Citi, CLSA, MS upbeat

Given the strong Q3 & recent correction in the stock, most brokerages remain optimistic about RIL' future prospects & potential in the stock. Emkay upgraded RIL to 'Buy', citing attractive valuations

Aadhar Housing share zooms 6% as Citi initiates with 'Buy'; 42% upside eyed

The northward move in Aadhar Housing share came after foreign brokerage Citi Research initiated coverage with 'Buy' for a target price of Rs 565 per share

Outbound M&A by Indian firms to rise on back of strong balance sheets: Citi

The last two years have been transformative for investment banking in India, not just in terms of the volume of activity, but also the quality of deals and their impact on businesses

Goldman Sachs, Citigroup lower China's 2024 growth forecast to 4.7%

Weak economic activity in August has ramped up attention on China's slow economic recovery

Textiles, apparel exports rise 4.73% in July on improved demand: CITI

India's textiles and apparel exports in July grew by 4.73 per cent to USD 2,937.56 million compared to the same month last year mainly driven by an increase in demand for apparels, the Confederation of Indian Textile Industry (CITI) said on Thursday. Textiles and apparel exports stood at USD 2,805.01 million in July 2023, CITI said. While the textile exports were steady at USD 1,660.36 million in July compared to USD 1,663.06 million, apparel shipments during the month surged by 11.84 per cent to USD 1,277.20 million from USD 1,141.95 million during the same time last year. "This year has shown promising progress for India's T&A exports, particularly when compared to last year. The growth in exports is largely attributed to the expanding share of Indian apparel in key markets such as the US, alongside increased exports to the European Union and the UK," CITI Chairman Rakesh Mehra said. The industry, he said, remains optimistic about export orders in the upcoming months, and is ...

US regulators fine Citigroup $136 mn for failing to address data issues

The fines are the latest blows for CEO Jane Fraser as she tackles the bank's regulatory failings

Citi initiates coverage on Affle with 'Buy', sees 20% upside; stock up 6%

Affle (India) share price zoomed as much as 6.68 per cent to hit a fresh 52-week high of Rs 1,461 after Citi's 'Buy' call. In comparison, BSE Sensex was trading 0.24 per cent higher at 80,155.59

S&P Global will likely raise India's rating within 2 years, says Citi

S&P raised India's sovereign rating outlook to 'positive' from 'stable' on Wednesday, citing the country's strong economic fundamentals. It, however, kept the rating itself at 'BBB-'

Citi sees opportunity in US bank stocks to 'play offense' after turmoil

In CRE, the exposure to office loans has been the primary concern for investors, but such loans only make up for 1% to 4% of the total for banks under Citi's coverage, Citi said

Barclays, Citi raise India's economic growth closer to 7% after GDP beat

Barclays Plc and Citigroup Inc. predict the economy will now expand 6.7% in the fiscal year ending in March, up from previous forecasts of 6.3% and 6.2%, respectively

Citi India plans to launch sustainability-linked deposits in coming days

Money raised from these deposits will be invested by Citi to help multinational customers meet their environmental, social and governance obligations in India

Tech M sheds 9% in 5 days on JP Morgan, Citi downgrades, target price cuts

Tech Mahindra's stock fell 2.6 per to its day's low of Rs 994.55 on Friday after JP Morgan downgraded the stock to 'underweight' from 'neutral', slashing its target price by 10 per cent to Rs 900

Citi launches its branch in GIFT IFSC; to offer financing solutions

The branch will offer external commercial borrowings and trade loans, addressing foreign currency funding requirements of multinationals, large local corporates and financial institutions