The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
'Women' as a political constituency appears to be an idea that has come of age. It is changing India in ways that we only dimly understand, asserts Aditi Phadnis.
Says a BJP win would raise business confidence and, as a result, the chances of a new investment cycle
Allegations of rape against French footballer Kylian Mbappe are "totally false" and "a slanderous rumour", his representatives said on Tuesday, following media reports that he was the subject of an investigation over an incident in a Stockholm hotel on Oct. 10.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Although UltraTech Cement's results for the December quarter of the current financial year (Q3FY25) were not an improvement compared to Q3FY24, the company managed to surpass Street expectations. The company's profit attributable to the owners of the parent dropped 17.4 per cent year-on-year (Y-o-Y) to Rs 1,469.5 crore in Q3FY25 as against Rs 1,777 crore in Q3FY24.
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.
Key risk for price rise is the 'deficient' monsoon that could lead to a pick-up in inflation expectations.
Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 per cent from its current level of $2,645, according to a recent report in Business Standard. Domestically, gold is trading at Rs 76,018 per 10 grams after delivering a remarkable 21.9 per cent return in the past year.
Goldman Sachs on Wednesay began celebrating confirmation of bumper bonuses for this year, with the chairman and chief executive, Lloyd Blankfein, expected to lead the pack with a 30 per cent increase in his pay to about $70m.
Goldman includes Bajaj Auto Ltd and Tata Steel Ltd in its Asia-Pacific growth recovery group of stocks.
This could be higher if reforms continue.
It said the government took $20 billion in cash over the past six years from the company without consulting minority shareholders. 'Since 2003-04, the promoter (the government of India) has taken away cash from the company on a quarterly basis for subsidising loss-making state-owned downstream companies. So far, ONGC's promoters have taken cash of almost $20 billion from the company without consulting the minority shareholders,' Goldman said in its latest report.
US-based global investment banking major Goldman Sachs on Tuesday said it would invest one billion dollar in India for expanding operations in sectors like real estate and infrastructure.
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).
The Indian rupee will bounce from its record low level of close to Rs 52 against the greenback and will gain about 10 per cent in 12 months once overseas borrowings resume, Goldman Sachs has said.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India.
Gupta's lawyer Gary Naftalis submitted in a Manhattan court on Tuesday his list of 10 witnesses he would 'most want to depose on behalf of Gupta.'
Global merchant banking firm Goldman Sachs said on Tuesday India can potentially be a 'bigger growth story' by growing faster than China after 2015 if it improves infrastructure and education system.\n\n\n\n
The estimate is way below the government's forecast of 9 per cent growth in 2011-12.
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.
Others shortlisted by the Department of Disinvestment for the NTPC offer were Deutsche Bank, SBI Capital Markets and Kotak Mahindra Capital.
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.
David Loeb sent emails to Rajaratnam ahead of a daily 'morning meeting' at Galleon, according to previously undisclosed emails and wiretapped phone call transcripts, which were entered as court records in the trial of former Goldman director Rajat Gupta, the Wall Street Journal said.
The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies. Strong revenue growth prospects for each of its online verticals - including recruitment, matrimony, real estate, education, and upside from its holdings in companies such as Zomato - had prompted Goldman Sachs to upgrade the stock. Info Edge's standalone revenue grew 10.6 per cent year on year (Y-o-Y) in Q2FY25, beating consensus. 99acres (+16.9 per cent Y-o-Y) and Jeevansathi (+33 per cent Y-o-Y) were drivers of growth while recruitment grew 8.5 per cent Y-o-Y.
Sensex crosses 19,000-mark for the first time since October 5.
The US-based group has named 70 individuals as its partners and has announced a list of 266 persons to become managing directors with effect from January 1, 2013.
US investment bank Goldman Sachs and German financial firm Allianz are in talks to buy a stake of more than $1 billion in one of China's biggest state-owned commercial banks, a news report said on Monday.
Goldman Sachs will receive $1 billion, while US taxpayers will lose $2.3 billion if embattled commercial lender CIT files for bankruptcy protection.
'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.
However UBS maintains a buy with a price target of Rs 280.
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
The underperforming metal for 2017 expected to return 17-20%
Goldman Sachs downgraded its rating on Indian stocks to 'underweight'.
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.
The growth of the agriculture, forestry and fishing sectors fell to minus 2.2 per cent in the third quarter of this fiscal compared with 6.9 per cent in the year-ago period. Goldman's projection about the farm sector's growth in 2008-09 coincides with the estimate of a 2.6 per cent expansion rate by the Central Statistical Organisation.
India's fiscal deficit, including the Centre and states, would be among the highest in the world and likely to be 10.3 per cent of GDP in the current fiscal and 10 per cent in the next fiscal, financial services firm Goldman Sachs said on Friday.
The brokerage lowered its GDP growth numbers for FY09 to 6.7 per cent from 7.5 per cent and for FY10 to 5.8 per cent from 7 per cent, Goldman said in a research note on Monday. Goldman Sachs said the gathering financial crisis over the past several weeks has affected India's financial sector significantly, with both domestic and external liquidity drying up. This has impacted the financing for corporates, loans for households, and trade credit for exporters.
