Nimesh Kampani, chairman of the JM Financial group, talks to Business Standard on what led to the parting of ways with decade-old foreign partner Morgan Stanley.
which currently does an average daily turnover of Rs 8,000 crore (Rs 80 billion) - almost twice that of the Bombay Stock Exchange - has been valued at $2.5 billion.
Barely two weeks after the Reserve Bank of India permitted 49 per cent foreign stake in stock exchanges
He will now have to submit to the two-year jail term handed down to him.
Gupta filed a 70-page petition with the US Court of Appeals for the Second Circuit yesterday seeking 'panel rehearing and rehearing en banc', saying in 'rejecting two of his challenges to the exclusion of critical evidence in his case, the panel misapprehended several points' about the insider trading case against him.
Goldman Sachs Investment Bank in a paper in 2003 argued with facts, figures and importantly optimism that the economic potential of BRIC nations is such that they may become among the four most dominant economies by the year 2050. The foreign ministers of BRIC nations will meet in Moscow in Spring 2008 to discuss issues of mutual interest in the international arena. The BRIC countries account for about 40% of the world population & each country has its own unique advantages.
Gupta began serving a two-year prison term on insider trading charges
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
Gupta, 65, reported to the minimum security satellite camp at FMC Devens in Ayer, Massachusetts on June 17.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
New investors should gradually build a 5 to 10 per cent allocation to gold.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
This is not the first time Reliance has eyed a stake in the club.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
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The ruling by the Supreme Court was made in a parallel civil insider trading case brought against Gupta by federal regulator Securities and Exchange Commission.
Hopes of revival and earnings growth in 2020, surprise tax cuts, and robust foreign flows - thanks to easy global monetary policies - are a few reasons why the markets have managed to digest the low GDP footprint. Select bluechips such as Reliance Industries, Bajaj Finance, Asian Paints, and ICICI Bank have gained sharply this year. On the other hand, YES Bank, Zee Entertainment, and Indiabulls Housing have seen a sharp fall.
Gupta lost his final bid to avoid reporting to jail after the US Supreme Court last week denied his application to remain free on bail while his insider trading case is reheard.
Analysts expect robust earnings growth from the financial sector.
Sixty such offers have been made on Day 1 of the placement drive.
Gupta's two-year prison term is set to end in March 2016.
Google has emerged as top choice in the Top 100 Ideal Employer Rankings in a survey conducted among Indian management and engineering students.
The rating agency said, rising COVID-19 cases in India will keep private spending and investment lower for longer.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
India needs to work on economic parameters to outpace China.
Digital financial services firm One97 Communications' Managing Director Vijay Shekhar Sharma has purchased 1.7 lakh shares of the company worth Rs 11 crore, according to a regulatory filing.
He is expected to be assigned to a medium-security prison in Otisville, New York, about 70 miles from New York City.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's (February 26) intraday trade. The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The total investment at risk is $930 billion and oil companies will need to cut their expenses by 30 per cent to make their projects viable provided oil remains around $70 a barrel.
US-based global technology giant IBM expressed keen interest in participating in India's newly-launched initiatives like Smart Cities and Digital India.
Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment.
A full panel of the 2nd US Circuit Court of Appeals yesterday denied Gupta's petition for 'panel rehearing, or, in the alternative, for rehearing en banc'.
172 firms participated in the final placement process.
The changes in the ordinance have been made after taking inputs from states suggesting changes to the Act which would make it more industry-friendly
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