India's absolute performance is likely the result of a global move into equities, and not so much due to 'cyclical recovery' or 'bottom in earnings
The downward trend in consumer optimism is likely to continue this year due to adverse macro conditions, high inflation and slower growth in the domestic economy, according to a survey by Credit Suisse.
Credit Suisse has lowered India's growth forecast for the current fiscal to 5.7 percent, but said the economy has bottomed and will see a moderate recovery during 2013.
Since 2009, several European banks have paid heavy settlements related to allegations they moved money for people or companies on the US sanctions list.
Credit Suisse has lowered India's economic growth forecast marginally to 5.9 percent from 6 percent for the fiscal year ending March.
Samsung stole the limelight one day one of the IIT-Bombay placement with the highest offer of this year of around US $1,50,000 (Rs 80 lakh)
Credit Suisse said that the October trade deficit of $21 billion is India's worst on record and may prompt the government to impose measures to curb the deficit such as a further increase in import duties of gold.
The main driver of the decline was Europe, where wealth fell 14 percent in dollar terms.Meanwhile, wealth in China grew 3 percent in dollar terms, the biggest winner this yea
According to Credit Suisse, India has 237,000 members of the top 1 per cent of global wealth holders. There are 1,500 UHNW individuals with wealth over $ 50 million and 700 with more than $100 million.
Wall St banks, weakened after rounds of job cuts, are shying away from state deals that are too small or difficult to do purely for credit in industry rankings. The downside for the government is that it may not get the best effort from banks, and deals sometimes fizzle.
According to the bulk data available with stock exchanges, Credit Suisse (Singapore) which is a stakeholder in United Spirits Ltd offloaded 6.54 lakh shares of the company for Rs 1,254.26 apiece valuing the deal to Rs 82.09 crore.
The source added that NEC would maintain its joint venture with Lenovo in Japan.
Shares in Hero MotoCorp fell 1.5 percent to Rs 1,820.95 after Credit Suisse downgraded the stock to "neutral" from "overweight" and cut its target price to Rs 2,056 from Rs 2,401.
Credit Suisse has initiated coverage of Indian consumer staple companies such as ITC with "outperform" ratings, stating that the price-to-earnings premiums are "high", but "far from the peak", while adding earnings growth are "steady."
Credit Suisse downgraded Tata Motors to "underperform" from "neutral" after cutting its volumes forecast and increasing its tax rate assumption for the Indian auto maker's unit Jaguar Land Rover.