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Company profile
Bank of America Merrill Lynch is the corporate and investment banking division of Bank of America.[2] It provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management.[1] It was formed through the combination of the corporate and investment banking activities of Bank of America and Merrill Lynch following the acquisition of the latter by the former in January 2009.
 Recent press releases
Bank of America Merrill Lynch: "Will 14th Finance Commission Burn Out the Oil Bonanza?"

Bottom line: Reddy for decentralization, growth deepening
Clients are asking whether the Reddy Finance Commission will restrict the Budget's ability to support growth despite the drop in oil prices. Our answer: Yes, it will constrain Finance Minister (FM) Arun Jaitley's cap... (more)
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Bank of America Merrill Lynch Research Report on India Equity Strategy

FII ownership at a new peak; GEM funds remain OW
FIIs continued to invest in India with December quarter witnessing FII flows of more than $2bn. This was the 9th consecutive quarter of positive inflows from the FIIs. Strong inflows from the FIIs over the last five years have result... (more)
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Bank of America Merrill Lynch Research Report : Is Potential Growth 8.5% then?

Bottom line: Potential growth 8-8.5% in FY12 GDP series
What is potential growth in the new GDP series?, clients ask. Our preliminary estimate suggests it could be 8-8.5%, 100bp higher than our estimated 7-7.5% in the FY04 GDP series. “…in a sense I think we are using ... (more)
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Bank of America Merrill Lynch - India Economic Watch: The US$2trn Question - What's Potential?

Bottom line: Growth bottoming out, wait end-Feb for clarity
We await the release of a longer FY12 base GDP series at end-February to fully assess India's growth profile. The CSO today projected growth at 7.4% in FY15, up from 6.9% in FY14 in the new series. It reported December... (more)
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Bank of America Merrill Lynch Research Report: Delhi Assembly Elections - Does it Matter to Markets?

Opinion polls suggest a tough fight in Delhi Assembly election
The National Capital Territory (NCT) of Delhi is scheduled to undergo assembly elections on 7th February (Results to be announced on 10th Feb). The opinion polls for the upcoming assembly elections suggest a close fight... (more)
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Bank of America Merrill Lynch Research Report - RBI: 3 burning Questions for Tuesday

Bottom line: Dovish Tuesday to signal further rate cuts
We expect the Reserve Bank of India (RBI) governor Raghuram Rajan to turn even more dovish this Tuesday than the January 15 statement. He will likely cut rates by 25bp again in April. After all, banks are unlikely to cut polic... (more)
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Bank of America Merrill Lynch Research Report -- India's GDP: In 6.9th Heaven!

Bottom line: Domestic story more resilient
The Indian government has revised FY14 growth up to 6.9% from 4.7% after improving corporate coverage on rebasing GDP to 2011-12 from 2004-05. Pronab Sen, Chairman, National Statistical Commission, has long maintained that the 2004- 05 GDP... (more)
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Bank of America Merrill Lynchs' India Economic Watch: RBI to Ensure Repo Mode

Bottom line: 25bp Feb 3 repo rate cut; Rs 60-65/USD
We expect the RBI to anchor the money market to the repo rate during the March quarter. Our liquidity model shows that the money market deficit will seasonally widen to Rs 1783bn in March from Rs 972bn in end-December, aggravated ... (more)
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Bank of America Merrill Lynchs' India Economic Watch: 3 Reasons Why Feb RBI Rate Cut is on Track

Bottom line: 2015 to see lower rates to support growth
Happy 2015! We continue to expect RBI governor Raghuram Rajan to cut rates 25bp on February 3. In our view, inflation is well set to achieve the RBI's 8% January 2015 and 6% January 2016 CPI inflation targets. What would ch... (more)
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Bank of America Merrill Lynch: What Will RBI do After Rs 62/USD?

Bottom line: RBI to hold Rs58-62/USD; USD may breach temp
We have grown more confident of our call that the RBI will hold Rs58-62/USD with lower oil prices and gold import curbs offsetting US Dollar strength. At the same time, there is a rising possibility of a temporary breach of R... (more)
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