Goldman says the downgrade reflects the more difficult external funding conditions for Asia as markets increasingly anticipate Fed tapering and eventual exit from unconventional monetary policies.
Goldman Sachs on Tuesday reported its first quarterly loss since it became a public company in 1999, after a severe decline in asset values, including real estate, hit the bank's revenues.
The estimate is way below the government's forecast of 9 per cent growth in 2011-12.
A senior executive with global investment banking giant Goldman Sachs, Sanjay Patel, has been named among the UK's 20 most powerful fund managers. Currently in his second spell at Goldman Sachs, after leaving it for an alternative asset management fund house GSC Partners, Patel is co-head of Goldman Sachs' European PE and Indian capital equity businesses. Patel returned to Goldman Sachs in February 2006.
A day after global brokerage firm Macquarie painted a rosy picture of the Indian economy and raised its target level for the stock indices for the next 12 months, Goldman Sachs said India is set to overtake China and become the fastest-growing emerging market during 2016-18.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
The Reserve Bank of India in its annual monetary policy predicts an annual inflation number every year which is not a mandate, as there is no inflation target set by the government.
Analjit to guard stake by pumping in money.
The Budget will be keenly watched (to see) whether there is a credible plan for reducing the fiscal deficit and whether populist measures can be avoided before the 2014 general elections," the Wall Street firm said in a note.
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
Financial services giants Goldman Sachs and Morgan Stanley are said to be the front-runners for the role of lead investment banker in Facebook's much-awaited blockbuster initial public offering next year, a media report said.
As many as nine companies which suffered the brunt of the economic crisis and were bailed out by the government -- including Citigroup and Goldman Sachs -- are among the least reputed companies in the US, a study said.
Global investment banking and securities firm Goldman Sachs has expressed interest in acquiring equity in Delhi-based SpiceJet even as top sources said talks for a merger with Kingfisher Airlines are on track.
Foreign portfolio investor (FPI) flows into India may remain tepid in 2022, said a recent note by Goldman Sachs, who now peg the foreign portfolio investment into India at $5 billion in 2022, down from their earlier forecast of $30 billion with risks skewed to the downside. "There has been $15 billion of equity outflows YTD in India already, and the IPO of the largest insurance company has been pushed out. "Additionally, with no mention of India's inclusion in global bond indices in the Union Budget, there are risks to our already conservative base case assumption of an announcement of India's likely inclusion into the GBI-EM Global Diversified Bond Index in Q4-2022," wrote Andrew Tilton, Goldman Sachs' chief Asia-Pacific economist in a co-authored report with Santanu Sengupta and Suraj Kumar.
In the 12th five year plan, the total T&D expenditure is projected to be around $88 billion.
62-year-old Gupta appeared in Manhattan federal court but it was not immediately known what charges have been slapped against him by the prosecutors.
The company's 30-person management committee, including chairman and chief executive officer Lloyd Blankfein, chief financial officer David Viniar and leaders of the firm's global and regional divisions, would get bonuses in stocks, which cannot be sold for five years.
Goldman includes Bajaj Auto Ltd and Tata Steel Ltd in its Asia-Pacific growth recovery group of stocks.
A bench headed by Justice S H Kapadia, while disposing of Sebi's plea, also expunged the Securities Appellate Tribunal's observations on Sebi's adjudicating officer Amit Pradhan. Pradhan had imposed a penalty of Rs 1 crore (Rs 10 million) on Goldman Sachs Investment (Mauritius) for furnishing 'false' declarations citing violation of the Sebi(Foreign Institutional Investors) Regulations, 1995.
This makes Berkshire the sixth-largest external investor in the bank
Goldman Sachs, a global investment banking and securities firm, has invested Rs 100 crore for a significant minority stake to support TVS Logistics growth plans, which include expansion, increasing its investment in joint ventures and for acquisition opportunities.
With a potential for a 10x growth in pre-tax profit from the business over the next decade, retail including e-commerce will be the next growth engine for Reliance Industries Ltd, Goldman Sachs said in a report. After growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 (April 2020 to March 2021) due to Covid related macro headwinds including lower footfalls. The oil-to-telecom conglomerate run by billionaire Mukesh Ambani used the period to build strong digital capabilities of the retail business while continuing to expand its physical reach.
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
Despite trailing the benchmark Nifty 50, small and midcap (SMID) stocks appear pricey on a 12-month forward price-to-earnings (P/E) basis. The Nifty trades at roughly 21x forward earnings, compared with around 28x for both the Nifty Smallcap 100 and Nifty Midcap 100 indices.
New York Stock Exchange, along with a group of global investment banks, including Goldman Sachs, are together picking up over 20 per cent stake in the country's leading stock exchange, the National Stock Exchange.
Financial major Goldman Sachs on raised the Indian stocks to "overweight" from "market-weight" and said the NSE Nifty will scale the 6,600 level by December 2013, on the back of growth recovery and moderation in inflation going forward.
The former employer incurred the amount as legal expenses during the trial.
'Unfortunately, our system doesn't care for slow learners. That's where tutors like us come into play,' Aarti Kannan tells Rediff.com's Divya Nair.
The growth will be driven by favourable external demand and domestic structural reforms push.
The underperforming metal for 2017 expected to return 17-20%
The global financial services major had earlier said that the central bank would keep its policy rates on hold.
The brokerage said that the reform measures announced by the government will help growth only over the medium term and are not expected to have any benefit in the near-term.
In a world fractured by uncertainty, India stands out for its policy consistency, paired with sustained ambition, points out Pritam Banerjee.
Based on a complaint by the legal head of the company Abhishek Parsheera, a case under various IPC sections including criminal breach of trust and cheating was registered against the two.
Just over a year ago, India was investors' top pick among EMs. Its slide down the rankings follows $30 billion (over 2.5 trillion) of foreign selling over the past 12-13 months.
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.
Generative AI is transforming workplaces but at a cost -- there are fewer jobs for young workers just entering the workforce, reveals a Goldman Sachs report.
Bengaluru-based Nestaway's co-founder Amarendra Sahu has filed an First Information Report (FIR) alleging fraud, cheating, forgery of documents and criminal intimidation against Tiger Global, Chiratae Ventures and Goldman Sachs, in a rare instance of a startup founder filing a criminal complaint against its investors. The investors have approached the Orissa High Court, seeking to quash the FIR filed in September last year with the Bhubaneswar Police. The next hearing of the matter is scheduled for January 9.
'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.
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