UBS bought over 81 lakh shares in IDFC Limited on Wednesday for Rs 88 crore through UBS Principal Capital Asia Limited via a block deal. The shares were purchased at a price of Rs 107.92 apiece. IDFC Limited shares will be suspended from trading with effect from Thursday, October 10 which is the record date … Read more
UBS was on a selling spree on Friday as the Zurich-based bank and financial services company sold its holding in four stocks through UBS Principal Capital Asia Limited via block deals. The stocks included Concord Biotech, Five Star Business Finance, IIFL Securities and Marksans Pharma and the total share sale aggregated to Rs 480 crore. … Read more
Shares of Zomato rose 4% on Thursday to reach a new all-time high of Rs 283.60 after global brokerage firm UBS maintained a buy rating on the stock with a target price of Rs 320, driven by optimism about the company’s growth. UBS in its note stated that the industry volumes are growing at about … Read more
UBS Group AG will liquidate a flagship real estate fund in the latest sign of the turmoil caused by investors pulling money out of slumping commercial real estate markets. The fund-which was inherited in the takeover of Credit Suisse-was highly exposed to some of the weakest sectors. It had more than 80% of its 1.9 … Read more
Telecom operator Vodafone Idea today found another backer when global broking firm UBS upgraded the stock to buy with a target price of Rs 18, saying that it is expecting relief on government dues as well as a mobile price increase. Following the upgrade, the stock jumped over 5% to Rs 14.82. “We believe the … Read more
The EU struck a deal on Tuesday to implement internationally-agreed banking reforms intended to avert a repeat of the 2008 financial crisis. The European Commission first proposed the banking law in October 2021 but there has been a greater focus on banks following the collapse of lenders in the United States triggered market turbulence earlier … Read more
UBS is poised to complete on Monday its takeover of Credit Suisse, but integrating the former rival is a Herculean task that clients, employees and Swiss political leaders will closely watch. The coming months are likely to be “bumpy”, warned UBS chief Sergio Ermotti on Friday, adding the integration will come with “waves” of difficult … Read more
UBS is considering delaying its quarterly results at least until the end of August, as the Swiss banking giant deals with complexities over its takeover of Credit Suisse, the Financial Times reported on Sunday. The bank is scheduled to report its April-June results on July 25. UBS did not immediately respond to a request for … Read more
UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG in a deal it did not want, as a global bank crisis worsened the latter’s finances and prompted authorities to take swift action, a regulatory filing showed. UBS, in a Tuesday filing to the U.S. Securities and Exchange Commission, told investors it … Read more
Switzerland’s Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said on Sunday. The prosecutor, based in the Swiss capital Bern, is looking into potential breaches of the country’s criminal law by government officials, regulators and executives at the two banks, which … Read more