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".
Wall Street research analysts have suffered rounds of layoffs, big pay cuts, and accusations that they routinely lied to the investing public. Now there's a new worry -- that their jobs are being shipped overseas.
India is at a greater risk than the other three BRIC (Brazil, Russia and China) economies in the event of a slowdown in the US economy, a study by global investment banking firm Goldman Sachs has said.
So far in 2019, India has been one of the highest recipients of foreign flows among Asian and Emerging Market (EM) economies
The offer comprises of 5.12 million primary ADSs, 1.75 million secondary ADS and up to an additional 1.03 million primary ADSs under the over-allotment option given to the underwriters, it said.
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.
Two whole-time directors KVS Manian and Shanti Ekambaram of Kotak Mahindra Bank are in the race for the post of managing director and CEO, the position vacated by Uday Kotak last week. Kotak stepped down as MD and CEO of the bank effective September 1, 2023, four months ahead of his term was to end. The RBI will soon decide on Kotak's replacement as the new MD and CEO of Kotak Mahindra Bank, as the new person has to take charge on or before January 1, 2024.
With inflation down, the government's twin deficits are largely under control.
The B-school also witnessed new roles in the domain.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
The institute has bagged 179 pre-placement offers so far, with the highest domestic offer at Rs 64 lakh per annum.
The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
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.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
State-owned Oil and Natural Gas Corp is in talks to buyout US oil and gas producer Pogo Producing Co's stake in an offshore Thailand field.
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
The e-commerce firm recruited 18 post graduate students.
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.
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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.
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'.
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.
Goldman Sachs report says company might buy back shares.
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.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
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.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
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.
Gupta's two-year prison term is set to end in March 2016.
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.
BPCL gained nearly 4% to Rs 674, while HPCL gained more than 2% to Rs 451.
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.
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".
India Inc borrowed heavily in December.
