RIL which reported its first decline in quarterly net profit in over two years, is likely to see upside when its $16 billion expansion projects are completed and telecom venture is rolled out, analysts said.
Citigroup today became the latest big US bank to report disappointing results, with earnings plunging 86 percent on a large legal charge and disappointing operating performance in some segments.
As Indian equity markets continue to hit record highs, global investment bank Citigroup has raised the BSE Sensex December 2015 target to 33,000 from 31,000.<br />
Experts say the company hopes to offset a gradual deceleration in growth by expanding its footprint in the workplace.
The latest exits were the result of studies the bank began in early 2012 to figure out which countries were not profitable enough for retail banking.
The Citigroup report further noted that the recovery in growth numbers from 5.6 per cent in FY15 to 7 per cent in FY17 would be "gradual" and continued policy efforts are needed to meet the RBI's 6 per cent CPI target by January 2016.<br />
The stock was the biggest loser among the 30-Sensex blue-chips, dragging the BSE IT sector index by 3.44 per cent.<br />
The over one-hour-long breakfast meet will be followed by one-on-one meetings with six CEOs of Boeing, KKR, BlackRock, IBM, General Electric and Goldman Sachs.<br />
Alibaba's online and mobile commerce businesses will be controlled by a "variable interest entity," an arrangement meant to allow investors to buy into Internet and other businesses in which Beijing bans or limits foreign ownership
The US company's 33 retail branches are mostly located in the greater Tokyo area, with deposits worth 3.9 trillion yen ($39 billion).<br />
According to the global financial services major, continued restrictions on gold imports and strong exports growth helped in keeping the monthly trade deficit of the country stable at an average of $11.6 billion during the April-July period.<br />
Citigroup plans to hire as many as 100 bankers in a renewed push into Asia-Pacific commercial banking, following in rival HSBC's footsteps with a strategy that focuses on selling smaller corporate clients a wider range of products.
The current account deficit (CAD), the difference between outflow and inflow of foreign exchange, would be about 2.3 percent of GDP due to the fall in gold and non-essential imports, the financial services major said in a report.