Days before B Ramalinga Raju admitted to fraud, a handful of financial services companies, including DSP Merrill Lynch, IL&FS Financial Services and Deutsche Bank's non-banking finance company, sold Satyam Computer Services shares pledged with them.
VMIL officials declined to comment on the development. According to sources close to the development, VMIL will sell stake to raise money for expanding Hungama, the content and mobile services arm. The Mumbai-based company has already held two to three rounds of meetings with these private equity investors. The company's valuation has been pegged at Rs 800 crore (Rs 8 billion). The funds raised would be used for Hungama's expansion.
Valuations are not exactly cheap and there are global factors, which are probably not conducive to a very strong bull market rally
Saurabh Agrawal, managing director and head, investment banking, has reason to feel pleased with his team at DSP Merrill Lynch -- his firm tops the M&A league table and should secure itself a reasonably good ranking in the debt and equity fund-raising sweepstakes by the time the year draws to a close.
UBS Wealth Management Americas, Bank of America's Merrill Lynch and Morgan Stanley all employ several retired Olympic athletes.
DSP Merrill Lynch aims to raise Rs 700-750 crore (Rs 7-7.50 billion) from its three new schemes, which will open on Tuesday.
According to a research note by Bank of America Merrill Lynch, while foreign institutional investors' holding in Sensex has gone up to the highest level in last eight years, while LIC and domestic MFs were net sellers.
'Just keep investing a steady amount every month irrespective of what the media says about the direction of the market,' advises Jyotivardhan Jaipuria, Managing Director, DSP Merrill Lynch, India.
According to the report, the December inflation will likely continue to peak off to 7.3 per cent.
Despite all the negative news, markets may not see a major correction or appreciation from the current levels.
Growing business opportunities fuelled by a robust economy and an increasing number of private equity investors are prompting investment bankers to quit their jobs and turn entrepreneurs.
Global fund managers are investing in China and other emerging markets rather than in Europe or Japan to cash in on the improving global economic sentiment, a Merrill Lynch survey said.
With a market share of 16.6 per cent in mergers and acquisitions and 14.2 per cent in fund raising through the equity route, the investment banking arm of the German financial behemoth has become the numero uno investment bank in the country.
Nimesh Kampani, chairman of the JM Financial group, talks to Business Standard on what led to the parting of ways with decade-old foreign partner Morgan Stanley.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
Indiabulls Financial Services Ltd on Thursday said it has priced its global depository receipt issue at $5.42 per GDR or Rs 235 per share of Rs 2 each, taking value offering to $130.8 million.
Federal Bureau of Investigation agents on Tuesday arrested 48 foreign exchange brokers in connection with a probe into securities and currency fraud, according to a CNN/Money report.
Inflation may shoot up to 7.9% by Aug end, says DSP Merrill Lynch.
A jury has convicted a former Enron Corp executive and four ex-Merrill Lynch & Co officials in the first criminal prosecution arising from the accounting fraud that led to the collapse of the energy trader.
Attorney general Andrew M Cuomo has also sued BofA's former CFO Joseph L Price. "Bank of America's management intentionally failed to disclose massive losses at Merrill so that shareholders would vote to approve the merger.
DSP Merrill Lynch Ltd said Caterpillar Commercial SA along with its holding company Caterpillar Inc offered to acquire up to 19,779, 914 shares, or 62.25% of the paid up equity share capital, of Hindustan Powerplus Ltd.
Will a US recession tip the entire metals complex, including Gold Prices, sharply lower in 2008...? Add the falling dollar to rosy growth forecasts from China and what do you get? If you guessed higher commodity prices, you get a gold star. Yet among the big investment institutions, there's mixed opinion about what metals prices will do in 2008.
Merrill Lynch financial advisor Raj Sharma has been named one of America's 100 Top Brokers by the Barron's magazine.
In a repeat of the previous year's results, the US bank came ahead of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citi, which all tied for second place, according to industry analytics firm Coalition.
If the government is to be the lender of last resort for financial companies, it has to demand more control over their daily business
With $110.8 billion in equity and long-term debt, Morgan Stanley is the world's largest securities firm, according to the Institutional Investor magazine's annual capital position rankings.
According to the global investment banking major, RBI will increasingly switch to supporting growth from exclusively fighting inflation.
The Finance Minister promised a 0.6 per cent reduction in the fiscal deficit every year to bring the deficit to 3 per cent by 2016-17 without raising tax rates.
BofA-ML global fund manager study says investors 11% underweight on Indian stocks in November, down from about 5% in the previous month.
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