UBS India

Credit Suisse's equity strategists Neelkanth Mishra and Ashish Gupta recently quit and joined the Axis Bank group. These positions are likely to be filled by USB analysts

This is because UBS had surrendered its bank licence about a decade back after the banking regulator denied its request to offer wealth management services

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market

India's GDP growth will slow down to 5.5 per cent in FY24 from the 6.9 per cent expected in the current fiscal 2022-23, a Swiss brokerage said on Wednesday. The slowdown was attributed to slowing global growth and tightening of monetary policies in the report by economists at UBS India. It said India will be among the "lesser affected economies" in the world, but made it clear that the world's fifth largest economy is not immune from global headwinds. "Factoring in the delayed impact of monetary tightening on domestic demand, we continue to expect India's growth to remain below consensus in FY24. In our base case, we expect India's real GDP growth to slow from 6.9 per cent in FY23 to 5.5 per cent in FY24 before settling at the long-run average of 6 per cent in FY25," the report said. Responding to high domestic inflation and rate hikes by global central banks, the RBI has already hiked the policy rate by 1.90 per cent since May this year and is only expected to hike more, which can

The Reserve Bank will deliver two more rate increases with the first of 25-30 bps later this week, and then pause for data-prints on domestic inflation and the US economy, says a foreign brokerage. The US economy is widely feared to be headed towards a recession this year having already contracted by 0.9 per cent in the June quarter and 1.6 per cent in the previous. If an economy contracts for three consecutive quarters, then it is considered that economy is in recession. On the domestic front, the consensus view is that the economy will continue to face headwinds from multiple fronts -- rising current account deficit (CAD), falling balance of payments, high inflation and rupee depreciation which has already plumbed the 80 mark against the greenback. The RBI's rate-setting panel MPC will announce the second bimonthly policy review on Friday and the market has already priced-in a third rate hike given the run-away inflation, which is has already been hovering over 7 per cent for the

The latest consumer inflation (CPI) print in the US for June came in at 9.1 per cent - the highest reading since 1981, and surpassed most analysts' expectations, who had pegged this at 8.8 per cent

As liquidity starts drying up, banks rates start rising and market returns struggle, we expect some level of softness in household market allocations, he said

While the RBI's monetary policy committee kept rates steady in its recent policy review in April, UBS expects the Indian central bank to hike rates starting June 2022

Swiss brokerage UBS Securities has revised downwards its India's growth forecast for the current financial year to 9.1% from 9.5% earlier

Bloomberg on Wednesday reported that UBS planned to shut its global banking office in India and move investment banking coverage for the country offshore

Global investors are cautious on India because of expensive valuations, but intrigued by domestic households buying stocks, Swiss brokerage UBS said on Tuesday

The economy faces more downside risks now as economic disruptions arising from the second wave are likely to stabilise only from July, warned the Swiss brokerage USB Securities. Last month, the brokerage had cut its GDP forecast by 150 bps to 10 per cent for FY22, which though is much higher than the consensus projections by others with some pegging it at as low as 8 per cent. Though adverse impacts on sequential growth is less severe than in the June 2020 quarter when it plunged by 23.9 per cent, as lockdowns are more targeted and localised and households and businesses have adjusted to the new normal now, still, it is increasingly possible that normalcy returns only by July as against our baseline assumption of June. This increases the downside risks to our FY22 growth estimate of 10 per cent, its India economist Tanvee Gupta Jain in a note on Thursday said without quantifying how much it will be. She bases her warnings to the UBS-India activity indicator that has slipped to 78.6

A key trigger for the increased retail participation in equities has been the lockdown triggered by Covid-19 that saw investors channelizing their savings to capital markets in search of better return

Anuj Kapoor tells Business Standard he believes economy is in 'early recovery phase', resulting in period of low inflation and interest rates.

Ubs Principal Capital Asia Ltd on Tuesday sold shares of IndusInd Bank worth nearly Rs 148 crore through an open market transaction

Firm recommends these shares even beyond Nov 3 vote, as it expects market to be insulated from the election outcome

India's gross savings fell to 29 per cent of GDP in FY20 as per UBS' estimates from 34.6 per cent of GDP in FY12

According to Nomura, unconventional monetary policies will be the new normal, reducing the urgency for fiscal austerity

The Covid-19 induced slowdown, UBS believes, could have worse impact on the auto finance segment than demonetissation or global financial crisis, casting shadow on the NBFC's loan segment

"For the full year, we now expect India's real GDP growth to slow further to 4 per cent year-on-year in FY21 (previously 5.1 per cent)," UBS said in a research note.