Switzerland’s 2nd largest bank has been merged with country’s largest bank & its rival UBS for a lot lower than its market value. Regulators say this was the best way forward.
UBS predicts Nifty 50 Index will fall to 15,500 by June end 2022. Current surge has Nifty trading at 21.3 times estimated 12-month earnings, much higher than its 5-yr average of 18 times.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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