Latest news with #Poonawala
CNBC
12-06-2025
- Business
- CNBC
Bank of America analyst really loves this Wall Street stock, sees it rallying to $700
Goldman Sachs has "proven DNA to adapt to an ever-changing world," according to Bank of America. The firm reiterated a buy rating on the investment bank on Wednesday, alongside a $700 per share price target, which represents 12% upside from Wednesday's $624.17 close. Analyst Ebrahim Poonawala said Goldman has a storied history of navigating turbulent periods. He cited the Paul Volcker-led Federal Reserve era and the 2008 financial crisis as examples, saying these times demonstrated "a strong combination of scale and flexibility." Poonawala said he expects continued strength in Goldman's trading revenue, which was a highlight of the company's most recent quarterly report . "A sea change in the macro backdrop (interest rates, geopolitics) vs. post-GFC [Great Financial Crisis] years combined with a strategy that is focused on deepening client relationships (via financing) has increased the resiliency of trading revenues," Poonawala said. "Despite the inherent unpredictability, trading revenues have grown in six out of the last seven years after bottoming in 2017 (coinciding with a shift in Fed policy)." GS YTD mountain Goldman Sachs stock in 2025. The private credit space is another potential opportunity for further growth, the analyst said. He expects Goldman is relatively well positioned to handle any potential volatility in the sector. "Goldman's presence in the private credit space dating back to the mid-90s, history of strong risk management (superior client selection) should reduce the risk from any potential credit volatility in this space," the analyst said. Shares have added 9% in 2025, and have gained about 4% in June.
Hindustan Times
04-06-2025
- General
- Hindustan Times
BJP's ‘believe in Tharoor' advise to Rahul Gandhi after ‘PM Modi surrendered' remark: 'Pakistani propaganda'
The Bharatiya Janata Party on Tuesday launched a multifold attack on leader of the opposition in Lok Sabha Rahul Gandhi, calling him a 'leader of Pakistani propaganda" over his "PM Modi surrendered' remarks amid the India-Pakistan ceasefire understanding. BJP spokesperson Shehzad Poonawala asked the Congress leader to listen to Shashi Tharoor and other party leaders, who have said there was no third-party mediation to pause Operation Sindoor. "Rahul Gandhi has once again understood that the meaning of LoP is the leader of Pakistani propaganda. The kind of propaganda that even Pakistan was not able to do, he is doing," PTI quoted Poonawala as saying. Poonawala said Rahul Gandhi likes things which are foreign, be it propaganda or a leader. According to Shehzad Poonawalla, Pakistan, which has 'admitted' that it was "beaten up" by India during Operation Sindoor, was "pleading" with India to stop military action. "Rahul Gandhi, believe in what the DGMO said, what the ministry of external affairs said. If not them, at least believe in Shashi (Tharoor), Manish (Tewari) and Salman (Khurshid). They have said that no mediation happened, India did not call up (Pakistan), their DGMO reached out to India," Poonawalla said. BJP national spokesperson Pradeep Bhandari also launched a fierce attack on the Rae Bareli MP, accusing him of making "indecent" remarks against Prime Minister Narendra Modi and questioning his values and patriotism. "Rahul Gandhi's words reflect his values. He makes such indecent remarks against the country's Prime Minister. But this is what can be expected from Rahul Gandhi, whose heart beats for Pakistan. Because when he offers floral tributes to the statue of his grandmother (Indira Gandhi), he does not even remove his shoes," Bhandari said. BJP MP Sambit Patra said Rahul Gandhi's speech in Madhya Pradesh on Tuesday does not befit any "civilised politician or any leader of the opposition." Sharing a self-made video on X, Sambit Patra said, 'Today, during his speech in Madhya Pradesh, Rahul Gandhi has not only insulted Operation Sindoor but also the Indian Army and the country. The way Rahul Gandhi spoke about Operation Sindoor does not befit any civilised politician, any leader of the opposition or any politician. This kind of politician, who uses words like 'surrender' for his motherland, is not fit for the country.' Rahul Gandhi attacked the BJP-led government on Tuesday over allegations of mediation by the United States in Operation Sindoor. He alleged that Prime Minister Narendra Modi "followed" Donald Trump after the US leader called him and that the then Prime Minister Indira Gandhi did not budge to the US in the 1971 war. "Now, I understand RSS-BJP well. They run away out of fear if slight pressure is put on them. When Trump called Modiji- Modiji kya kar rahe ho, Narender-Surrender and with 'ji hazooor', Narenderji followed Trump. In the 1971 war, the Seventh Fleet came from the US. India Gandhi said I will do whatever I have to do. This is the difference. This is their character; all of them are like this. Since the Independence movement, they have had the habit of writing letters of surrender," he said while addressing a convention of Congress workers in Madhya Pradesh's Bhopal. Rahul Gandhi doubled down on his attack through a social media post, stating, "Trump's phone came, and PM Narendra Modi ji immediately surrendered. History is witness. This is the character of the BJP-RSS; they always budge. India had bifurcated Pakistan in 1971 despite the threat by the United States. The 'babbar sher' and 'shernis' of Congress fight the Superpowers, they do not bow'.
Mint
01-06-2025
- Health
- Mint
Learning to ride a bicycle as an adult
Gift this article "This is what we call the death grip," Parag Patankar, the volunteer guiding me, said, not unkindly. He was right. Unconsciously, my arms had become ramrod stiff and I was holding the bicycle handlebars tightly, as if for dear life. My feet were firmly planted on the ground but I was a bundle of nerves as I sat astride the bicycle and viewed the gentle slope I was to go down with trepidation. "This is what we call the death grip," Parag Patankar, the volunteer guiding me, said, not unkindly. He was right. Unconsciously, my arms had become ramrod stiff and I was holding the bicycle handlebars tightly, as if for dear life. My feet were firmly planted on the ground but I was a bundle of nerves as I sat astride the bicycle and viewed the gentle slope I was to go down with trepidation. When other people turn 40, they set glamorous targets like running a marathon or going on an arduous trek. I decided to learn to ride a bicycle—child's play for those who know it but no less intimidating than summiting a mountain for adults like me who don't. Unlike driving, formalised avenues for adults to learn cycling are not aplenty. Online searches led me to Bangalore Bicycling School (BBS), a completely volunteer-led effort to teach adults how to cycle for free. It was an initiative which, I learnt later, was completing a decade this year. I messaged the phone number mentioned on the Facebook page, filled up a Google form and showed up at 8am on a Sunday at the designated spot in Bengaluru's Cubbon Park. That phone number belonged to Dr Ali Poonawala, a 68-year-old urologist and one of the moving spirits behind BBS. The wiry doctor will invariably be at Cubbon Park on Sunday mornings, as he has been for the last 10 years, guiding both the adults and children. Also read: Finding the music that you love BBS, he says, came about somewhat organically, a culmination of multiple factors. One was the 'Cycle Day" organised by Karnataka government's Directorate of Urban Land Transport (DULT) around 2012-13, where a street would be cordoned off for cycling and other street activities. There, Dr Poonawala and a few fellow cycling enthusiasts noticed that there were adults who wanted to cycle but had never learnt. Around the same time, DULT also facilitated free cycle rentals in Cubbon Park to promote the activity. BBS kicked off lessons with those cycles. In those early days there would be the occasional Sunday when it would be just Dr Poonawala, the bicycles and a couple of banners donated by DULT. But he persisted. Dr Poonawala's resolve to teach adults was strengthened by something he had noticed while on holiday in Kodaikanal, where families would rent cycles near the lake. 'The father and children would go off on cycles, while the mother would be left behind. I would feel upset because that's not how it should be—everyone should be cycling together." What he had seen was yet another reflection of the gender gap in cycling in India. According to Census 2011, only 4.7% women used bicycles to commute compared to 21.7% men, among the working population. Another analysis of cycling internationally found that on average, 'females were one-tenth as likely to cycle compared to males in Indian cities". The learner demographic at BBS also bears this out. Patankar, the instructor I first met and a regular volunteer, estimates that 80-90% of students are women. 'We've tried asking why. What we've seen is, some women just did not get the chance to learn when they were young—perhaps no one in the family thought it was important to teach them. If they had male siblings, the boys went out and learnt from their friends," says Patankar who, in true Bengaluru tradition, is also the co-founder of a software product firm. Other volunteers include professionals spanning software, real estate and finance sectors. Reflecting on his comment later, I realised this was true for me, too—my brother learnt to cycle from his friends while I did not. Patankar broadly categorises the adult students into three. Those over 50 for whom learning to ride is typically a bucket list goal. Those aged 30-50, whose motivation may be fitness, for errands in the vicinity or to join family and friends who ride. And those below 30, who plan to graduate to a scooter. On his part, Dr Poonawala describes a typical learner as someone aged 35-40. 'She feels she's been left out, looks online and finds us." Again, me. Regardless of the category, Patankar says BBS provides a safe space. The need for this was again reinforced by Dr Poonawala's personal experience, when his wife, Dr Fatima, wanted to learn cycling over a decade ago. 'I felt I was missing out on a lot of fun because he loves cycling," says the 67-year-old who adds it took her several sessions, multiple trainers and cycles till that 'eureka moment" when she could do it on her own. Dr Poonawala jokes that husbands are the worst teachers but the experience, he says, taught him that adult learners need a safe, non-judgemental space. The group has developed training manuals and a teaching process that continues to evolve. The biggest hurdle for an adult learner, as I can personally aver, is the fear of falling. 'That fear grows as the person gets older," says Dr Poonawala. Unlike children, adults can also come with other inhibitions and, possibly, baggage involving previous attempts. I had mine. The last time I tried to learn, I accidentally bumped into a senior citizen, leaving both of us traumatised. It was only in my recent conversations that I found out that my then trainer, Anil Kadsur, was one of the founders of BBS who, unfortunately, died a year ago. It somehow felt right that I was trying again with something he had helped launch. Despite their inhibitions, learners keep turning up—including women in their 60s. On a phone call, Annapoorni (she requested that only her first name be used), who is now 74 and describes herself as a 'health freak", recalls feeling nervous on the way to her first lesson. Acquaintances who heard about her derring-do questioned why the then 66-year-old wanted to learn 'at this age". But within three-four sessions and despite a fall, she learnt to ride. 'I was over the moon," she says, the excitement in her voice palpable even eight years later. Other memorable alumni include a group of women working in garment factories, who were taught in an initiative with Greenpeace. However, Dr Poonawala regrets that there were no follow-ups on the non-profit's part about whether the women continue to ride. In general, tracking whether learners keep cycling has been a challenge. 'Of the thousands who have gone through BBS training, what fraction would be riding regularly? I struggle with this question," says Patankar, who estimates it would be a small share who cycle even once a month. Dr Poonawala says the lack of follow-up is a criticism levelled against them but adds that the volunteers have their limitations. With classes only on Sunday mornings, a cherished time, there is also a churn among trainers. Attempts to replicate the model in other parts of the city have typically not endured for longer than a year because of this. Currently, about three-four instructors come every Sunday from 8-10am, to assist 10-15 learners at various stages. Dr Poonawala and Patankar say they persist out of their passion for cycling and to 'increase their tribe". It helps that some alumni also volunteer. Among them is Aman Sabherwal, a 35-year-old finance professional. On a visit to Cubbon Park, she was convinced by Patankar to get on a bicycle for the first time since she was in an accident when she was six years old. Sabherwal says she volunteers whenever she can. 'That feeling of seeing others riding freely on their own and that smile on their faces makes me happy," she says. I know that smile. It's the same one I flashed towards the end of that first session when I found, to my utter surprise and elation, that I was finally riding a bicycle, all by myself. Indulekha Aravind is an independent journalist. She posts @indulekha_a. Also read: 'I Am on the Hit List': A deep dive into Gauri Lankesh's murder Topics You May Be Interested In
Business Insider
01-06-2025
- Business
- Business Insider
Canadian Bank of Commerce (CM) Gets a Buy from Bank of America Securities
Bank of America Securities analyst Ebrahim Poonawala maintained a Buy rating on Canadian Bank of Commerce (CM – Research Report) on May 29 and set a price target of C$101.00. Confident Investing Starts Here: Poonawala covers the Financial sector, focusing on stocks such as JPMorgan Chase, Morgan Stanley, and US Bancorp. According to TipRanks, Poonawala has an average return of 11.3% and a 66.27% success rate on recommended stocks. In addition to Bank of America Securities, Canadian Bank of Commerce also received a Buy from Desjardins's Douglas Young in a report issued yesterday. However, on the same day, Barclays maintained a Sell rating on Canadian Bank of Commerce (NYSE: CM). Based on Canadian Bank of Commerce's latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $7.25 billion and a net profit of $2.16 billion. In comparison, last year the company earned a revenue of $6.21 billion and had a net profit of $1.72 billion Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CM in relation to earlier this year.
Business Insider
01-06-2025
- Business
- Business Insider
Bank of America Securities Sticks to Its Buy Rating for Royal Bank Of Canada (RY)
In a report released on May 29, Ebrahim Poonawala from Bank of America Securities maintained a Buy rating on Royal Bank Of Canada (RY – Research Report), with a price target of C$194.00. Confident Investing Starts Here: Poonawala covers the Financial sector, focusing on stocks such as JPMorgan Chase, Morgan Stanley, and US Bancorp. According to TipRanks, Poonawala has an average return of 11.3% and a 66.27% success rate on recommended stocks. In addition to Bank of America Securities, Royal Bank Of Canada also received a Buy from Barclays's Brian Morton in a report issued yesterday. However, on the same day, National Bank downgraded Royal Bank Of Canada (NYSE: RY) to a Hold. Based on Royal Bank Of Canada's latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $16.72 billion and a net profit of $5.13 billion. In comparison, last year the company earned a revenue of $13.76 billion and had a net profit of $3.58 billion Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RY in relation to earlier this year.
