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.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
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.
Analysts expect robust earnings growth from the financial sector.
The 67-year-old former Goldman Sachs banker, who has been the chairman of the UK taxpayer-funded licence fee-backed British Broadcasting Corporation (BBC), said the investigation found he had breached the governance code for public appointments.
He is expected to be assigned to a medium-security prison in Otisville, New York, about 70 miles from New York City.
Bharara has also asked the US Court of Appeals to deny 65-year-old Gupta's motion, filed earlier this month, that his bail be continued pending resolution of his petition for rehearing the insider trading case.
The FIR also said chairman of New Development Bank K V Kamath, Goldman Sachs India chairman Sonjoy Chatterjee, Standard Chartered Bank CEO Zarin Daruwala, Tata Capital head Rajiv Sabharwal and Tata Capital senior advisor Homi Khusrokhan need to be investigated.
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.
Twitter Inc named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs executive who led its successful November IPO in charge of finances.
Jim Ratcliffe's company INEOS formally entered the bidding process to buy Manchester United on Tuesday, months after the club owners, the Glazer family, said they were considering selling the club as they explore "strategic alternatives".
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
172 firms participated in the final placement process.
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.
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'.
Multiple triggers such as asset sales, pickup in energy cash flows, increased traction in omni-channel retail, and rise in ARPUs could further drive the stock.
Rajat Gupta was freed from Federal Medical Centre Devens, a federal correctional facility in Ayer, Massachusetts, on January 5.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
The e-commerce firm recruited 18 post graduate students.
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
On Monday, the Royal Swedish Academy of Sciences announced that Abhijit Banerjee, Esther Duflo and Michael Kremer had won the 2019 Nobel Prize for economics "for their experimental approach to alleviating global poverty". The research conducted by them has considerably improved the ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research, said the Royal Swedish Academy of Sciences. Here are some interesting facts about the Indian-origin Abhijit Banerjee.
Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment.
Akshata Murty, the wife of Britain's Prime Minister Rishi Sunak, stands to earn Rs 68.17 crore in dividend income from her shareholding in India's second-largest IT firm Infosys. Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares of Infosys at the end of December, according to company filings with the stock exchanges. Infosys declared a final dividend of Rs 17.50 per share for FY23 (April 2022 to March 2023).
Goldman Sachs report says company might buy back shares.
BPCL gained nearly 4% to Rs 674, while HPCL gained more than 2% to Rs 451.
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
This could become tricky territory for India, given its basically adversarial relationship with China, its moves to block imports and investment from that country, and to deny market access for Chinese technologies, observes T N Ninan.
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.
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.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Indian government bonds, particularly those of shorter maturity, strengthened sharply on Monday, as the collapse of the California-based Silicon Valley Bank (SVB) prompted investors to rush to the safety of American debt, leading to a decline in US bond yields.
Here are some facts about Rishi Sunak and his India connections.
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
Kudlow, who served as Trump's informal economic adviser during the 2016 campaign, is a well-known conservative voice.
Education technology, grocery, fashion, food delivery and UPI payments surpassed volumes or revenues of February, in the September-October period.
Top global brands such as Goldman Sachs, Deutsche Bank, Microsoft, Facebook and Texas Instruments visited the campus.
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