The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
The US-based group has named 70 individuals as its partners and has announced a list of 266 persons to become managing directors with effect from January 1, 2013.
Seth Waxman, lawyer for Gupta, told the 2nd US Circuit Court of Appeals in New York on Tuesday that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.
Will Judge Jed Rakoff be swayed by the former Goldman director's influential well-wishers or will he deliver stiffer punishment?
Justice Ruth Bader Ginsburg, who handles emergency applications from the 2nd Circuit, on Wednesday denied Gupta's request to stay out of prison.
The stock of India's largest listed pure-play retail company, Avenue Supermarts (DMart), has slipped over 10 per cent from its monthly highs. A weak operational performance in the fourth quarter (January-March) of financial year 2024-25 (Q4FY25) and muted near-term outlook due to intense competitive pressures and higher costs could lead to downward momentum on the stock. While the stock dipped by 3.44 per cent in early trade on Monday, it recovered a bit to close 1.07 per cent lower at 4,017.
Investors ask if the hugely successful investment banking model can be fully repaired.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
Market data service provider Capital IQ is buying smaller rival TheMarkets.com for $300 million, says a media report.
Barely two weeks after the Reserve Bank of India permitted 49 per cent foreign stake in stock exchanges
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
If the government is to be the lender of last resort for financial companies, it has to demand more control over their daily business
Wall Street research analysts have suffered rounds of layoffs, big pay cuts, and accusations that they routinely lied to the investing public. Now there's a new worry -- that their jobs are being shipped overseas.
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has surprised the street with a better than expected performance in its oil-to-chemicals (O2C) division in October-December 2024 (Q3FY25). RIL executives attributed it to favourable feedstock sourcing and higher volumes. However, they also listed cost optimisation and other measures.
India is likely to benefit from the exodus of high tech jobs from North America as over 6 million jobs are expected to shift overseas in a decade.
Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
Rajat Gupta was convicted in 2012 of passing illegal tips about Goldman Sachs to Galleon Group founder Raj Rajaratnam.
'Women' as a political constituency appears to be an idea that has come of age. It is changing India in ways that we only dimly understand, asserts Aditi Phadnis.
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
Although UltraTech Cement's results for the December quarter of the current financial year (Q3FY25) were not an improvement compared to Q3FY24, the company managed to surpass Street expectations. The company's profit attributable to the owners of the parent dropped 17.4 per cent year-on-year (Y-o-Y) to Rs 1,469.5 crore in Q3FY25 as against Rs 1,777 crore in Q3FY24.
Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
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.
The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies. Strong revenue growth prospects for each of its online verticals - including recruitment, matrimony, real estate, education, and upside from its holdings in companies such as Zomato - had prompted Goldman Sachs to upgrade the stock. Info Edge's standalone revenue grew 10.6 per cent year on year (Y-o-Y) in Q2FY25, beating consensus. 99acres (+16.9 per cent Y-o-Y) and Jeevansathi (+33 per cent Y-o-Y) were drivers of growth while recruitment grew 8.5 per cent Y-o-Y.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
Sri Lanka-born billionaire Raj Rajaratnam's defence team on Wednesday told a US jury that his trading in Goldman Sachs was not based on insider information, but a great deal of research and discussion on the investment bank, especially during the financial crisis.
Despite a firm improvement in the operational metrics of new-age companies during the January-March quarter (Q4FY23), analysts remain cautiously optimistic about their outlook. This is because the shares of these firms are still not risk free, as per analysts, given the companies are yet to make profits. Kranthi Bathini, director-equity strategy at WealthMills Securities says that while the sentiment around these stocks, which includes Paytm and Zomato, has turned positive, it remains to be seen how soon these firms turn profitable and improve margins.
Paytm's pre-IPO investors, which include likes of Warren Buffet's Berkshire Hathway, SoftBank and Alibaba, do not seem to be in a hurry to exit India's leading digital payments brand as they continue to believe in its long-term prospect, analysts said. On Tuesday, 86 per cent of Paytm's shares became free to trade after the end of the lock-in period, allowing investors to sell shares that haven't yet been allowed onto the market. Market participants have been speculating on Paytm, post-expiry of lock-in for pre-IPO investors.
The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India's largest insurance company LIC, an official said. Four law firms - Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co - had made presentations before the Department of Investment and Public Asset Management (DIPAM) on September 24. Following presentations, Cyril Amarchand Mangaldas has been selected as legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC), the official told PTI.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
Testifying for the government on the eighth day of 63-year-old Gupta's insider trading trial yesterday, former marketing executive at Sri Lankan native Rajaratnam's Galleon hedge fund Ayad Alhadi disclosed that Gupta had been secretly serving as a Galleon executive.
Rajat Gupta, former director of Goldman Sachs and Mckinsey, has resigned from the board of the Hyderabad-based Emergency Management Research Institute (EMRI), a public-private-partnership initiative being run by the GVK group.
Spicejet will raise Rs 530.76 crore or Rs 5.3 billion ($118.5 million) through issue of equity shares on preferential basis to various foreign and domestic investors.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
Jailed hedge-fund founder Raj Rajaratnam has agreed to pay $1.45 million to settle a civil lawsuit filed by US regulator SEC against him and India-born former Goldman Sachs director Rajat Gupta for their roles in one of the largest insider-trading schemes in US history.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
The 15-page judgment is amazingly lucid, elegant and balanced.
The six-member government-appointed board of scandal-hit Satyam Computer Services today appointed investment banks Goldman Sachs and Avendus to explore various strategic options for the company, which include identifying strategic investors and obtaining expressions of interest from them in a fair and transparent manner.
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