Washington Mutual for Sale

Washington Mutual (WM) , the US mortgage giant which is under immense plenty of losses is all set to be up for sale. The news is that it has commissioned Goldman and Morgan Stanley (the two banks whose situation is better than all investment banks) to conduct a search for possible buyers. The suitable buyers could be Citigroup, HSBC Holding, JP Morgan Chase and Wells Fargo (5th biggest US bank).

September 18, 2008 | Filed Under Market Analysis | Leave a Comment

Barclays to buy Lehman’s Investment wing in US

Some relief to the employees of Lehman in US; The British bank Barclays agreed to buy Lehman’s US investment banking and capital markets businesses for £140 million. Barclays will also buy the New York headquarters of Lehman as well as two other outlets in New Jersey for £800 million. Most of the employees out of 10,000 who work for these businesses will move to Barclays. The bank will raise at least £600 million from investors to part-fund the deal.

September 18, 2008 | Filed Under Market Analysis | Leave a Comment

Morgan Stanley and Goldman Sachs shares tumbled

The two biggest investment banks of Wall Street Morgan Stanley and Goldman Sachs shares tumbled on Wednesday as the situation got worsened with the recent developments of financial crisis. Morgan’s shares melted by 43% and Goldman’s by 27% on Wednesday raising questions about the future of these companies.

These biggies recently have shown good profits despite the financial disastrous. But the investors and traders had other opinions. These two investment banks have already started looking to join hands with commercial banks as they don’t want to be victims of this ugly financial crisis. Read more

September 18, 2008 | Filed Under Market Analysis | Leave a Comment

American International Group (AIG) Rescued by Federal Reserve

American International Group (AIG), the biggest insurer of the world was rescued by Federal Reserve. AIG was struggling to continue as the company’s Credit Default Swap wing earned billions of dollars loss. Federal Reserve agreed to give a loan of $85 billion to stop the collapse of the Wall Street. With this loan the US government will have 79.9% share in the company. AIG will have to return the money within 2 years at a higher interest rate. Markets didn’t calm down even with the move by Fed; they tumbled by more than 4.5 % on Wednesday.

September 18, 2008 | Filed Under Market Analysis | Leave a Comment

State Bank of India - Sensex stocks 9

SBI Limited:

Key data:

Industry: Banking
No of shares: 634,880,222
Face value: Rs 10
BSE code: 500112
NSE code: SBIN
Chairman: Om Prakash Bhatt

Share holding pattern (as on 30th June 2008):

Promoters: 59.41%
Foreign & Institutional investors: 24.22%
Public & others: 16.37%

SBI is the India’s largest commercial bank, in which Government of India is the biggest stakeholder. It has been listed in the
Fortune Global 500 list for year 2008 and ranked at 380. There are seven associate banks which comes under SBI. They have
been listed below: Read more

September 17, 2008 | Filed Under Banking, Stock Research | Leave a Comment

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