Citigroup Financial News

BNP Paribas, Societe Generale, Citigroup Global Markets, and Nomura Singapore are foreign investors that participated in the anchor round. The company plans to raise about Rs 640 crore through the IPO, which closes on September 27. Analysts are dividend on the company's prospects. While they believe the company has successfully created a niche through marque clients, past acquisitions and operational efficiency, they remain concerned over the valuations. «The company has aimed for high margin through value-added services with the support of the latest technology in its portfolio.

By Jonathan Stempel

(Reuters) — Goldman Sachs economists said they now expect the U.S. Federal Reserve to begin its interest rate-cutting cycle in the fourth quarter of next year, later than an earlier forecast of a cut in the second quarter.

₹360.30 crore from 26 anchor investors at the upper price band of ₹222 per equity share on Monday, September 18, according to company's exchange filing. Sai Silks IPO allocated 16,229,707 equity shares to 26 anchor investors and garnered ₹360.30 crore at the upper price band of ₹222 per equity share with a face value of ₹2 per share. The anchor book included well-known investors like Whiteoak Capital, Abakkus, Citigroup Global, SBI MF, ICICI Prudential MF, HDFC MF, Kotak MF, HSBC MF, Aditya Birla Sunlife MF, and UTI MF.

Oil surged to a 10-month high — extending a powerful rally that may rekindle inflation — as supply cuts from OPEC+ tightened the market and Saudi Arabia's energy minister shied away from any change in course. Global benchmark Brent topped $95 a barrel for the first time since November. The tighter market has ignited a flurry of predictions that $100 oil could return in a roster than runs from industry heavyweights such as Chevron Corp.

Citigroup Inc. debuted a token service that’s part of a broader push to offer digital assets to institutional clients. 

A father-and-son team of advisors who managed about $1.2 billion in assets at Morgan Stanley has joined LPL Financial’s model for supported independence, LPL Strategic Wealth Services.

Major US investment banking conglomerate Citigroup has made its first major foray into the world of crypto and blockchains with the launch of a new token service, as the bank looks to leverage distributed ledger technology (DLT) to improve its product offerings.

Stock-market strategists who were largely wrong about this year’s rally are finally starting to come to face their mistake, raising year-end targets for the S&P 500 Index.

HSBC pays for bankers’ nannies in India for up to six years. Morgan Stanley allows pregnant staff to expense cab rides, and Citigroup Inc. lets new moms work from home for a year after their maternity leave runs out. Across India, global financial firms are expanding maternity benefits to include perks rarely seen elsewhere, part of an effort to attract and retain female employees. Overall, less than a quarter of adult women in India work, among the lowest rates in the world. “We will never become a developed country without women’s participation,” said Aditya Mittal, chief human resources officer of Citi India & South Asia. The bank last week announced that new moms will now have the option to work from home for up to a year after their paid leave ends.

VedantaThe company's Committee of Directors will meet today to consider the proposal for issuance of non-convertible debentures (NCDs) on a private placement basis as part of its routine refinancing that is undertaken in ordinary course of business.Restaurant BrandsMarquee funds including ICICI Prudential Life, Nomura, Goldman Sachs, Societe Generale, Tata MF, Citigroup, Avendus among others picked up stake in Restaurant Brands via block deals on Friday.Read more: Here's the trade setup for today's sessionGensol EngineeringGensol Engineering has acquired 54.38% of Scorpius Trackers Pvt Ltd and by virtue of this, Scorpius is now a subsidiary of Gensol.Indian OilIndian Oil approves additional investment of Rs 904 crore in Hindustan Urvarak and Rasayan.HALThe defence acquisition council (DAC) has approved acceptance of necessity (AON) for procurement of 12 Su-30MKI Aircraft with associated equipment and avionics upgradation of Dornier Aircraft from HAL.BEL Bharat Electronics Ltd (BEL) received an order of Rs 2,118.57 crore from Cochin Shipyard for supply of various equipment.Texmaco RailThe company's Board has approved a proposal to raise up to Rs 1,000 crore by way of issuance of equity shares through qualified institutions placement.Tata SteelThe UK is to pump 500 million pounds ($621 million) into Tata Steel to help decarbonise its Port Talbot site in Wales.Vodafone IdeaVodafone Idea has made a payment of Rs 1701 crore to the Department of Telecommunications (DoT) towards the annual installment for spectrum acquired in the 2022 auctionSterlite Tech Sterlite Tech has launched state-of-the-art manufacturing facility in Lugoff, South Carolina — The Palmetto Plant.DB RealtyRekha Jhunjhunwala's stake in DB Realty increased to

retail sales remain strong, and the Federal Reserve is expected to hold interest rates steady this week. For investors with money on the line, the gloom on Wall Street creates a dilemma.

Citigroup embarks on a sweeping reorganization, support staff in compliance and risk management are among the most likely to lose their jobs, according to sources familiar with the situation. Technology staff working on overlapping functions are also at risk of being laid off, one of the people said.Citi managers are already convening discussions with employees about potential layoffs, according to the sources, who declined to be identified discussing personnel matters. One-on-one meetings about departures were also starting, one of the sources said. Citigroup declined to comment. The conversations come after the third largest U.S.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Visa (NYSE:V) shares fell nearly 1.5% in premarket trading on Thursday after the financial services company initiated a process to enable the largest U.S. banks to sell their shares in the world's largest payments network.

Check out the companies making headlines in midday trading.

Samhi Hotels on Wednesday said it has mopped up Rs 616.54 crore from anchor investors ahead of its initial share sale. The company has allocated 4,89,32,143 equity shares to 35 entities at an average price of Rs 126 apiece, according to a circular uploaded on the BSE website.SBI Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, Tata MF, Elara India Opportunities Fund, Singapore Government, Monetary Authority of Singapore, Societe Generale, Segantii India Mauritius, D E Shaw Valence International (SPV) LLC, Lion Global Asia Pacific Fund and Citigroup Global Markets Mauritius Pvt Ltd are among the anchor investors. On Monday, the Gurugram-based Samhi Hotels' fixed the price band for its Rs 1,370 crore-primary share sale that opens on Thursday at Rs 119-126 per share. The Initial Public Offering (IPO) comprises fresh issuance of equity shares worth up to Rs 1,200 crore and an Offer For Sale (OFS) of up to 1.35 crore shares.

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By Tatiana Bautzer

Havells India Ltd, Polycab India Ltd, KEI Industries Ltd, Finolex Cables Ltd, V-Guard Industries Ltd, Crompton Greaves Consumer Electricals Ltd, Bajaj Electricals Ltd. On an FY23 basis, Havells India Ltd, Polycab India Ltd, KEI Industries Ltd, Finolex Cables Ltd, V-Guard Industries Ltd, Crompton Greaves Consumer Electricals Ltd, Bajaj Electricals Ltd are available at a PE of 79.49, 62.57, 49.72, 34.52, 72.37, 41.81 , and 62.50, respectively. "We are the fastest growing consumer electrical company among our peers in India, growing at a compound annual growth rate (CAGR) of 43.4% between Fiscal 2021 and Fiscal 2023," said the company in its RHP.

(Reuters) -AerCap Holdings NV said on Monday a unit of General Electric (NYSE:GE) Co will sell a stake worth about $2.44 billion in the aircraft leasing giant through an underwritten public offering.