The Indian stock market does not present attractive prospects for investors in the near term amid sluggish domestic and global economic growth outlook, according to Goldman Sachs.
Goldman Sachs forecasts real GDP growth to accelerate to 7.9 per cent in FY17 from a projected 7.5 per cent in FY16.
Citing expected improvement in macroeconomic situation, Goldman Sachs on Monday upgraded India's rating to 'market weight', indicating bullishness in the short-term.
Goldman Sachs, a global investment banker, said India's growth prospects remain strong despite adverse global developments like high commodity prices that have pushed inflation to high levels. The growth in 2008-09 is expected to be slow at 7.8 per cent as against 8.7 per cent in the previous financial year.
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.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
OpenAI and Anthropic are not simply enabling new software capabilities, they are moving directly into enterprise execution, workflow ownership, and decision orchestration.
In a world fractured by uncertainty, India stands out for its policy consistency, paired with sustained ambition, points out Pritam Banerjee.
The Goldman employees currently receive as much as 75 per cent of their annual bonuses in restricted stocks or options.
Financial service provider Goldman Sachs Group Inc's shareholders have asked the company to cut the size of bonuses to be paid to executives and reward them instead, a media report says.
Goldman Sach's chief Lloyd Blankfein had called up his Citigroup counterpart Vikram Pandit to discuss a merger but the proposal was rejected by the India-origin chief executive officer, The Financial Times has reported.
Blankfein will at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam.
The deal makes Facebook now worth more than companies like eBay, Yahoo and Time Warner.
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.
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.
Yet another foreign brokerage has said that it expects Narendra Modi-led BJP to come to power after the Lok Sabha elections.
Indian GDP will grow at 8.5 per cent in 2021-22, and the rate will accelerate further to 9.8 per cent in 2022-23, a foreign brokerage said on Tuesday. The GDP had contracted by 7.3 per cent in the pandemic-hit FY21, and is widely expected to grow at a faster pace due to the base effect in 2021-22. The Reserve Bank of India (RBI) expects a 9.5 per cent growth in 2021-22, and the same to slow down to 7.8 per cent as things normalise.
'Trade deal will act as a strong trigger for market sentiment, not just for domestic investors but also for FIIs.'
The 3-month, 6-month and 12-month USD-rupee forecasts are 55, 53 and 52 respectively.
Prism, the parent firm of global travel tech unicorn Oyo, has filed preliminary papers with market regulator Sebi to raise Rs 6,650 crore through an initial public offering (IPO) using a confidential route, people familiar with the development said on Wednesday.
This could be higher if reforms continue.
Three global investment firms -- Morgan Stanley, Deutsche Bank and Goldman Sachs -- have picked up a total of 10 per cent stake in city-based software firm Core Projects and Technologies Ltd at a combined investment of Rs 39.76 crore (Rs 397.6 mn).
According to the global financial services major, after the BJP's 'historic' election victory on May 16, hope for structural reforms has gone up.
Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment. On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.
A growing China is good for everybody as creation of wealth "ultimately trickles across the world", Goldman Sachs chairman and CEO Lloyd Blankfein has said.
The initial public offer of app-based beauty and home services platform Urban Company Ltd received overwhelming investor participation, with the issue getting a huge 103.63 times subscription on the last day of bidding on Friday. The Rs 1,900-crore IPO received bids for 11,06,46,08,960 shares against 10,67,73,244 shares on offer, according to NSE data.
'I don't see how a company like OpenAI can honestly expect to generate revenue significant enough to maintain its spending habits via John and Jane Q. Public,' points out Sree Sreenivasan.
Negotiations that continued till 2009 eventually failed and the money could not be recovered.
The US' move to raise the tariff on most Indian goods to 50 per cent could drag India's GDP growth for FY26 by 35 to 60 basis points, according to various economists. One basis point (bp) is equal to 0.01 per cent.
The probe is not part of the civil fraud charges filed against the bank in April, which caused an alleged loss of over $1 billion to investors by misrepresenting facts about the financial product tied to sub-prime mortgages.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
Key risk for price rise is the 'deficient' monsoon that could lead to a pick-up in inflation expectations.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
Goldman Sachs report said, "India has a fifth of the world's population, but only a 30th of its energy".
But the clear winner between them is yet to emerge.
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
NRI billionaire LN Mittal is among the front runners for a committee being set up to improve ethical behaviour of crisis-ridden Goldman Sachs, says a media report.
