Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
The FIR also said chairman of New Development Bank K V Kamath, Goldman Sachs India chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan need to be investigated.
According to the global financial services major, after the BJP's 'historic' election victory on May 16, hope for structural reforms has gone up.
The move came two days after the lawyer said it was 'highly likely' that Gupta would take the witness stand in his trial.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
Analysts expect firms to shift focus to online platforms to boost sales in these Covid-19-impacted times.
Goldman Sachs report said, "India has a fifth of the world's population, but only a 30th of its energy".
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
Despite a slowing economy, the Budget does not envisage any major stimulus through the budgeted fiscal deficit figures, said Goldman Sachs.
Welcome to Non-Fungible Tokens (NFT) - digital constructs authenticated using an abstract mathematical application. An NFT is a unique token added to some digital construct and registered on a blockchain with details of ownership. The construct itself might be free (it often is) but the NFT along with the construct is worth "more". The NFT market didn't exist until 2017 when "cryptokitties", or virtual cats, became available with NFTs. The market is now worth around $350 million. Speculators believe it is likely to be worth much more in future.
Citing expected improvement in macroeconomic situation, Goldman Sachs on Monday upgraded India's rating to 'market weight', indicating bullishness in the short-term.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Panagariya also pointed out that COVID-19 pandemic may lead to integration of global labour market.
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
Beyond the fourth quarter of 2019, the report does not see space for further cuts primarily as headline inflation is likely to pick up and cross the 4 per cent target by the end of the year, and output gaps are also estimated to close.
Negotiations that continued till 2009 eventually failed and the money could not be recovered.
Blankfein will at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam.
State-run Power Finance Corporation (PFC) on Thursday said it has appointed four merchant bankers - Goldman Sachs, JM Financial, DSP Merill Lynch and ICICI Securities - to manage the Rs 5,600 crore (Rs 56 billion) follow-on public offer.
Stating that India's economic stimulus was not adequate, Banerjee said, the measures did not increase consumption spending of lower income people as the government was not willing to put money in the hands of the low income population.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
The B-school also witnessed new roles in the domain.
Vodafone Idea Ltd (VIL) CEO Ravinder Takkar did some plain speaking. In an analyst call after its quarterly results recently, Takkar said that the main stumbling block to raising fresh capital from investors is "pricing" - telecom tariffs, in other words. Nine months ago, the telecom company's board had cleared a proposal for raising Rs 25,000 crore from investors, after the promoters made it clear that they were not ready to pump in more money. But potential investors are concerned that without clarity on tariff hikes (there have been none for more than 18 months) they might just lose their money. The lack of visibility on raising tariffs has also impelled VIL to request the Department of Telecom (DoT) for a fresh reprieve by extending the two-year moratorium on paying its spectrum instalment of Rs 8,200 crore for another year till FY23.
The growth will happen in the asset management market, as the Indian population is richer and economy would continue to grow.
The deal makes Facebook now worth more than companies like eBay, Yahoo and Time Warner.
In its complaint filed in 2011, the SEC alleged that Gupta disclosed confidential information about Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs
Goldman Sachs, Morgan Stanley and JPMorgan, the three bulge-bracket banking groups of the US, are likely to get active in Indian real estate after a long gap, according to executives with property funds and consultancies.
BP has valued Reliance Industries' (RIL) new exploration and production (E&P) business at around $25 billion (Rs 1,12,500 crore), according to Goldman Sachs.
Goldman Sachs is likely to face a fine of around 20 million pounds from UK financial regulator FSA, just months after US Securities and Exchange Commission imposed a penalty on the banking major, a media report said.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
Goldman Sachs is seeking to avoid a fraud charge as part of its settlement with the United States market regulator SEC, which had charged the investment banking major with defrauding investors by misrepresenting facts, a media report said.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Goldman Sachs' director Rajat Gupta tipped off Raj Rajaratnam, an accused in insider trading scam, about a deal between Buffett-led Berkshire Hathaway and the Wall Street giant, before the public announcement.
The Q3 office rebound growth was led by Bengaluru and Hyderabad, which together accounted for nearly 80 per cent of the net absorption in Q3.
The Goldman employees currently receive as much as 75 per cent of their annual bonuses in restricted stocks or options.
From a small team of five weavers, Karagiri now works with 1,800 weavers from across India. Pallavi Mohadikar, co-founder of Karagiri, shares her incredible success journey.
Financial services firm Goldman Sachs has started a $500-million initiative to support small businesses across the United States, with legendary investor Warren Buffett as an adviser.
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