Goldman Sachs is bullish about Indian aerospace and defence, preferring private companies over public sector units (PSUs) as the country ramps up its export target for the sector to Rs 50,000 crore by FY29 from Rs 23,600 crore last year. The American investment bank's top 'buy' recommendations include Solar Industries, Bharat Electronics, Data Patterns and PTC Industries, while Bharat Dynamics is rated 'sell'.
Global investment bank Goldman Sachs on Thursday downgraded India to "underweight"
Goldman Sachs wanted the govt to give it a blanket approval for any further investment in non-banking financial activities in India.
Goldman Sachs had late last month announced appointment of Mittal, estimated to have a net worth of over $50 billion and CEO of the world's largest steelmaker ArcelorMittal, as an independent director effective June 28. Mittal will serve on the Audit, Compensation and Corporate Governance and Nominating Committees of the Board and would take the Goldman Sachs' board strength to 13 directors, including 10 independent directors.
As part of its focus on developing startups across the world, Goldman Sachs is looking at training and development of around 29 select women entrepreneurs in India.
Stretched valuations and slowdown in DII flows are some of the reasons why Goldman Sachs cut its India rating to 'market-weight'
"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
Financial services firm Goldman Sachs on Tuesday said the new United Progressive Alliance government is unlikely to pursue 'big-bang' reforms, but piecemeal changes in policies may take place, including hiking of FDI cap in insurance and divestment in public sector units.
Sonjoy Chatterjee, executive director (ED) of ICICI Bank, has put in his papers and will soon join US-based investment bank Goldman Sachs in India, according to a person familiar with the development.
Global financial services firm Goldman Sachs has said it is not planning to sell its five per cent stake in the National Stock Exchange.
Global investment and financial services major Goldman Sachs will pump in more direct investment into India, besides expanding operations, Lloyd C Blankfein, president and chief operation officer, Goldman Sachs Group Inc said on Thursday.
Goldman Sachs has emerged from the market bust as a trading colossus. New Chief Lloyd Blankfein must fuel growth -- and avoid an unforeseeable blowup.
Goldman Sachs' controversial note on corporate governance in Oil and Natural Gas Corp that evoked a strong reaction from the company, is not the first instance of the US investment bank having a run-in with the state-owned firm.
May take 10-15% in Phase II of Bengaluru-Mysore road for Rs 500 crore.
British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
Major global indices - the Nasdaq, Bovespa, Seoul Composite, S&P 500, Dow Jones, S&P BSE Sensex, NYSE, DAX, Nikkei and, CAC 40 - have all gained 37 per cent to 75 per cent since their respective March 2020 low.
Already witnessing a sharp decline in inflation, India would see deflation or reduction in general price level from next month due to slackening demand, financial services firm Goldman Sachs said on Monday.
Wall Street brokerage Goldman Sachs has flagged a slew of concerns on the surging COVID-19 caseload that has been hitting new records everyday, coupled with the rising lockdowns, forcing it to downgrade India's GDP growth forecast for the full year to 10.5 per cent from 10.9 per cent, apart from pegging down stock indices valuation and earnings. In a detailed note on Tuesday, Goldman Sachs' house economists led by Sunil Koul said these record number of pandemic cases and a host of key states announcing stricter lockdowns of late have fuelled serious growth concerns, leaving investors worried about the risks to macro and earnings recovery.
Global financial services major Goldman Sachs on Wednesday said it will start its brokerage operations in India this year.
"We believe loose liquidity will increasingly feed into higher inflation from current levels. However, we expect a falling output gap, the primary determinant of inflation, and currency appreciation will keep inflation within the RBI's target range of below 5 per cent," Goldman Sachs analyst Tushar Poddar said in the report.
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
Perhaps the most sensible thing Goldman Sachs did in an otherwise poorly-researched report on ONGC was to talk of 'corporate governance issues with cash withdrawals by promoter,' says Sunil Jain.
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
The new managing directors will assume their enhanced role at the investment banking firm with effect from January 1, 2014.
Kunal Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
US-based global investment banking major Goldman Sachs on Tuesday said it would invest one billion dollar in India for expanding operations in sectors like real estate and infrastructure.
World oil prices shot up to $55 per barrel on Friday following a warning by global investment bank Goldman Sachs that crude oil might have entered a 'super-spike' period which can push up oil prices to an astronomical $105 a barrel.
Global merchant banking firm Goldman Sachs said on Tuesday India can potentially be a 'bigger growth story' by growing faster than China after 2015 if it improves infrastructure and education system.\n\n\n\n
Securities Exchange Commission, the American market regulator, on Friday charged investment banking major Goldman Sachs with fraud on subprime mortgages, saying that Goldman did not disclose key facts to investors.
It said the government took $20 billion in cash over the past six years from the company without consulting minority shareholders. 'Since 2003-04, the promoter (the government of India) has taken away cash from the company on a quarterly basis for subsidising loss-making state-owned downstream companies. So far, ONGC's promoters have taken cash of almost $20 billion from the company without consulting the minority shareholders,' Goldman said in its latest report.
Over half, or 269 NSE 500 stocks, have given over 10-fold (10x) returns in the last two decades, finds a recent report by Goldman Sachs that analysed 10 major markets across emerging and developed markets (EM/DM) that covered 6,700 stocks. The report examined '10-baggers' - stocks that have generated at least 10x total returns within a rolling 5-year period over the past two decades. Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen & Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers.
Executive is facing probe for allegedly leaking confidential information to former Galleon Group co-founder Raj Rajaratnam.
World's first "rock star" economist, he coined the popular term "BRIC"
The Indian rupee will bounce from its record low level of close to Rs 52 against the greenback and will gain about 10 per cent in 12 months once overseas borrowings resume, Goldman Sachs has said.
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Despite criticism, the investment bank said that it stands by its research.
Goldman Sachs has bounced back spectacularly from the financial crisis and so far this year it has earmarked $16.71 billion as compensation.
In last few years, a number of global players have exited the Indian mutual fund business.
A string of acquisitions this year has pushed India to the top of the Asia's inbound M&A league table.
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