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.
Move will be a setback for India which wants information on black money probe based on leaked data
The new offer is part of its strategy to turn India to an exclusively 4G market.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
India has pipped China to drive the volume growth of smartphones in the world on the back of falling prices of high-end devices.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
...followed by financial services, IT, and sales and marketing.
After Indonesia and South Korea on Friday joined Thailand, Australia, Chinese Taipei and Algeria in pulling out due to the dreaded disease
It said Naisar Kothari, a resident of Bhavnagar in Gujarat, was arrested under sections of the Prevention of Money Laundering Act (PMLA) and he has been sent to the ED custody till December 22 by a court.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
Finance Minister P Chidambaram has been repeatedly stressing he will meet the fiscal deficit target of 4.8 per cent of the gross domestic product in this fiscal, but HSBC said the spending-revenue gap may overshoot to 5.1 per cent.
The recent currency volatility - rupee's depreciation against international currencies - may have given heartburns to automakers that rely on imports or pay royalty to parent companies abroad. But for Maruti Suzuki India, favourable movement of the yen - the currency that matters the most - against the Indian rupee, has given it reasons to cheer. The yen's sharp fall against the rupee and the rupee's depreciation against the US dollar, which in turn will bump up export realisations, are set to give a margin boost to the maker of Baleno and Brezza, said analysts. The softening of commodity prices and slew of new SUV launches in the coming months will also aid margins, they said.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Let's take a look at countries that will see biggest jump in exports.
The recent weakness of the rupee has been due to yuan's devaluation.
The HSBC Manufacturing Purchasing Managers' Index fell to 51.3 in April from March's 52.1
Some of Modi's biggest reforms have met with fierce political opposition.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
This is Chidambaram's third letter to Swiss Finance Minister Eveline Widmer Schlumpf within four months on this matter.
India's Lakshya Sen secured his maiden Super 500 title by winning the Yonex-Sunrise India Open with a stunning straight-game victory over reigning world champion Loh Kean Yew of Singapore in the men's singles final in New Delhi on Sunday.
Most sought-after market of the past few years doesn't feature among top bets in Asia, emerging markets
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
Economic recovery in US, euro zone help; new orders sub-index at 52.4
The current global downturn has made India even more desirable to Non-Resident Indians who are bullish about the country's growth and continue to invest heavily in the country of their origin, a report said.
Many retail investors, who are experiencing their first bear market, are shocked at the erosion in the value of their mutual fund (MF) portfolios. The pain is especially acute for those who had taken excessive exposure to sector/thematic and small-cap funds. Even international diversification has failed to stanch the bleed in this downturn.
India's Tokyo Paralympics gold winner Pramod Bhagat was on Thursday named among six shuttlers for the Male Para Badminton Player of the Year by the sport's world body but none of his compatriots featured in the able-bodied awards' categories.
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
India's GDP growth quickened to 7.4 per cent in the September.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
According to a survey of expatriates across four continents, conducted by global banking major HSBC, Singapore, the United States and the United Arab Emirates have emerged as the top three most popular destinations among expats.
The services sector suffering due to slowing orders, says HSBC.
The latest PMI showed inflation pressures ebbed further last month with both costs of raw material and prices charged rising at a slower pace than March.
Former India badminton coach Vimal Kumar on Tuesday blamed the withdrawals by Asian nations for the postponement of the Thomas and Uber Cup Final, calling it a "big setback" for the sport.
After a stellar November that saw companies mop up over Rs 36,000 crore from the primary market via initial public offers (IPOs) and offers for sale (OFS), the current month, analysts said, will test investor's willingness to stay on with their investments as the one-month mandatory lock-in period for anchor investors begins to loosen. A note by Edelweiss Alternative Research suggests that in calendar year 2021 (CY21), 51 companies went public. Of these, 41 issuances' anchor selling dates are already over.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
This is the third instance when outsourcing of key oversight jobs by global banks to India has come under the regulatory scanner abroad for ineffective controls against suspicious financial transactions.
As the shadow of governance deficit and corruption back home threatened to lengthen behind the glorious Davos sun, India's image managers launched a spirited damage control exercise on the penultimate day of the World Economic Forum (WEF).
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
India is among the top 10 countries in the world in terms of expat quality of life.
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