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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.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
Gupta's two-year prison term is set to end in March 2016.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
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.
Deighton's unpaid role will be to scale up production domestically, where brands like Barbour and Burberry have already switched factory lines from high-end fashion to PPE.
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".
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.
India Inc borrowed heavily in December.
Sixty such offers have been made on Day 1 of the placement drive.
The institute has bagged 179 pre-placement offers so far, with the highest domestic offer at Rs 64 lakh per annum.
Analysts expect robust earnings growth from the financial sector.
New investors should gradually build a 5 to 10 per cent allocation to gold.
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.
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.
This is not the first time Reliance has eyed a stake in the club.
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.
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.
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.
Google has emerged as top choice in the Top 100 Ideal Employer Rankings in a survey conducted among Indian management and engineering students.
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.
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.
The rating agency said, rising COVID-19 cases in India will keep private spending and investment lower for longer.
'Domestic investors are opening up to the idea of high-growth Internet companies as a pool of value creation.' 'They like the execution that they see with Zepto, and for us, that is the most important factor.'
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'.
Rajat Gupta was freed from Federal Medical Centre Devens, a federal correctional facility in Ayer, Massachusetts, on January 5.
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
The e-commerce firm recruited 18 post graduate students.
172 firms participated in the final placement process.
Goldman Sachs report says company might buy back shares.
Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment.
BPCL gained nearly 4% to Rs 674, while HPCL gained more than 2% to Rs 451.
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.
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.
