'The Budget needs to focus more on social welfare schemes.'
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
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.
India's real GDP growth will decline marginally to 6.3 per cent in 2024 from the 6.4 per cent estimated for 2023, an American brokerage firm said on Monday. The next calendar year will be of two halves, wherein the government spending before the upcoming General Elections will be the key driver for growth, while after the elections, it will be the re-acceleration in investment growth, especially from the private sector, Goldman Sachs said in a report. From a fiscal year perspective, the brokerage said it expects growth to accelerate to 6.5 per cent for FY25 from the 6.2 per cent it has projected for the ongoing FY24, it added.
For its m-cap to more than double, RIL needs government nod for nearly doubling of its gas price of $8 per million British thermal unit together with approvals for oil and gas field investments.
On the fourth day of the trial on Thursday, the jury was shown details of phone conversations from September 2008 in which Rajaratnam brags about getting information on Goldman.
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.
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.
HDFC Bank has been conscious in not accepting high-cost deposits, which have resulted in slower growth in October-December, said Sashidhar Jagdishan, managing director and chief executive officer, during an interaction with Goldman Sachs recently. He said during times of tight liquidity, short terms hardened, as was the case in October-December. "Not only did we participate, but we also gave up which came up for maturity," he said.
Falling food prices notwithstanding, consumer inflation will remain high during the current fiscal because of high cost of housing and services as well as the increasing inflationary pressures from smaller cities, Goldman Sachs said in a report on Tuesday.
High-end apartments, penthouses, and bungalows boasting amenities like swimming pools, expansive driveways, and premium interiors are becoming highly sought after.
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The upgrade comes after the domestic markets scaled their lifetime highs last week.
Higher for longer' may be the narrative in the developed markets, but interest rates might not stay high for very long in India, with a section of the market expecting rate cuts to begin this year. The six-member Monetary Policy Committee of Reserve Bank of India (RBI) decided to keep interest rates unchanged at 6.5 per cent in the April review - after hiking the policy repo rate in six previous meetings. RBI Governor Shaktikanta Das emphasised that the pause was only for the April policy and that the central bank was ready to act if the situation demanded.
Let's take a look at 25 most undervalued stocks in the market.
India's fiscal deficit is projected to more than double to 6 per cent of GDP this fiscal against the budgetary target of 2.5 per cent. For the next fiscal, the deficit is estimated to be 5.5 per cent of GDP.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
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.
Speculators do play a role in creating liquid markets. Other players like hedgers, arbitrageurs and long-term investors are not enough to create continuous market liquidity and prices.
They pointed out that Finance Minister Nirmala Sitharaman relies a lot on divestments, where the government under-performed in FY2019-20, to achieve the 3.8 per cent fiscal deficit target.
A Goldman Sachs report said, in the past also, major crisis have led to a sharp increase in outsourcing and even offshoring particularly to India , thanks to lower wages for technology developers as compared to developed economies, and an increasing annual base of engineering graduates.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
New investors should gradually build a 5 to 10 per cent allocation to gold.
In a repeat of the previous year's results, the US bank came ahead of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citi, which all tied for second place, according to industry analytics firm Coalition.
Price escalation seems to be one of the primary reasons for the sales trend.
US regulator SEC has asked an appeals court to affirm a district court's decision that India-born former Goldman Sachs director Rajat Gupta pay a $13.9 million penalty and be banned for life from serving as director of a public corporation.
India could not achieve its full potential owing to "misgovernance", while BRIC countries progressed rapidly in the last decade, Gujarat Chief Minister Narendra Modi said on Monday.
Gupta's lawyer Seth Waxman argued his case during a hearing before a three-judge panel of the 2nd US Circuit Court of Appeals in New York on Monday.
Gupta was convicted in 2012 following a jury trial of passing confidential information about Goldman Sachs to Raj Rajaratnam minutes after he learned about them at the board meetings.
Sixty-five-year-old Gupta will serve his jail term at a minimum security satellite camp of the Federal Medical Center-Devens in Ayer, Massachusetts.
"On average, the victor outperforms the global market by 3.5 per cent in the first month - a meaningful amount, although the outperformance fades significantly after three months," the Goldman Sachs report says.
In a lengthy-118 page submission to Supreme Court Justice Ruth Bader Ginsburg, Gupta requested to remain free on bail, saying he is not a flight risk and if an appeals court rules in his favour, he will 'likely' be entitled to a new trial.
Twitter has filed for an initial public offering with US regulators.
From data analysts to financial firms, everyone has their views on who could win the FIFA World Cup, starting in Brazil next month. Here are some interesting predictions by two international firms -- Opta and Goldman Sachs -- about the how tournament could pan out. Read on...
Markets ended at record highs on Monday on hopes that the new government would unveil reforms in the infrastructure space.
The Indian Institute of Technology and Harvard educated former McKinsey head is one of the most prominent Wall Street titans to be charged by fellow Indian and Harvard alumnus Bharara.
In a 99-page sentencing memorandum submitted in federal court on Thursday, Gupta's lawyer Gary Naftalis requested that the 'court impose a sentence of probation with the condition that Gupta perform a rigorous full-time program of community service.'
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
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