Global ratings agency Standard & Poor's has also raised India's sovereign credit rating to investment grade after a gap of nearly 16 years.
The yuan-denominated A-share market of China will become world's third largest stock market in the next ten years - after the stocks markets of United States and Japan, an expert from Goldman Sachs Group (Asia) Ltd. said.
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
India can sustain an 8 per cent growth rate till 2020 and will overtake UK as the world's fifth-largest economy by the middle of next decade at this pace, global financial services firm Goldman Sachs has said.
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).
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.
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
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".
Akshata Murty, the wife of Britain's Prime Minister Rishi Sunak, stands to earn Rs 68.17 crore in dividend income from her shareholding in India's second-largest IT firm Infosys. Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares of Infosys at the end of December, according to company filings with the stock exchanges. Infosys declared a final dividend of Rs 17.50 per share for FY23 (April 2022 to March 2023).
India's information technology services export is only 2 per cent of the worldwide IT spending despite the global focus on the country's offshoring capabilities, merchant banker Goldman Sachs said in its latest report.
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.
Indian government bonds, particularly those of shorter maturity, strengthened sharply on Monday, as the collapse of the California-based Silicon Valley Bank (SVB) prompted investors to rush to the safety of American debt, leading to a decline in US bond yields.
Sixty such offers have been made on Day 1 of the placement drive.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
Goldman Sachs, Morgan Stanley and JPMorgan, the three bulge-bracket banking groups of the US, are likely to get active in Indian real estate after a long gap, according to executives with property funds and consultancies.
The institute has bagged 179 pre-placement offers so far, with the highest domestic offer at Rs 64 lakh per annum.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
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.
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.
Here are some facts about Rishi Sunak and his India connections.
The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
So far in 2019, India has been one of the highest recipients of foreign flows among Asian and Emerging Market (EM) economies
Let's take a look at 25 most undervalued stocks in the market.
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.
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.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
Price escalation seems to be one of the primary reasons for the sales trend.
Says a BJP win would raise business confidence and, as a result, the chances of a new investment cycle
US regulator SEC has asked an appeals court to affirm a district court's decision that India-born former Goldman Sachs director Rajat Gupta pay a $13.9 million penalty and be banned for life from serving as director of a public corporation.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Gupta was convicted in 2012 following a jury trial of passing confidential information about Goldman Sachs to Raj Rajaratnam minutes after he learned about them at the board meetings.
Sixty-five-year-old Gupta will serve his jail term at a minimum security satellite camp of the Federal Medical Center-Devens in Ayer, Massachusetts.
