"On average, the victor outperforms the global market by 3.5 per cent in the first month - a meaningful amount, although the outperformance fades significantly after three months," the Goldman Sachs report says.
In a lengthy-118 page submission to Supreme Court Justice Ruth Bader Ginsburg, Gupta requested to remain free on bail, saying he is not a flight risk and if an appeals court rules in his favour, he will 'likely' be entitled to a new trial.
From data analysts to financial firms, everyone has their views on who could win the FIFA World Cup, starting in Brazil next month. Here are some interesting predictions by two international firms -- Opta and Goldman Sachs -- about the how tournament could pan out. Read on...
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.
Markets ended at record highs on Monday on hopes that the new government would unveil reforms in the infrastructure space.
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
The government has shortlisted Cyril Amarchand Mangaldas for giving legal advice on upcoming mega IPO of India's largest insurance company LIC, an official said. Four law firms - Crawford Bayley, Cyril Amarchand Mangaldas, Link Legal and Shardul Amarchand Mangaldas & Co - had made presentations before the Department of Investment and Public Asset Management (DIPAM) on September 24. Following presentations, Cyril Amarchand Mangaldas has been selected as legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC), the official told PTI.
172 firms participated in the final placement process.
Gupta's lawyers said he did not accrue any 'direct financial benefit' from the insider trading offences and yet he has been ordered to pay a 'heavy price' of two years in prison, a $5 million fine and a separate $6 million in restitution to Goldman Sachs.
India could not achieve its full potential owing to "misgovernance", while BRIC countries progressed rapidly in the last decade, Gujarat Chief Minister Narendra Modi said on Monday.
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 government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Twitter has filed for an initial public offering with US regulators.
Justice Ruth Bader Ginsburg, who handles emergency applications from the 2nd Circuit, on Wednesday denied Gupta's request to stay out of prison.
Microsoft came the closest and acquired 1.6 per cent stake in the company for $250 million valuing it at $15 billion.
Investors who ditched US markets for emerging ones during the financial crisis are set to pay a hefty price.
The rating agency said, rising COVID-19 cases in India will keep private spending and investment lower for longer.
Seth Waxman, lawyer for Gupta, told the 2nd US Circuit Court of Appeals in New York on Tuesday that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.
Goldman's relationship with ICBC was similar to that of other big global financial institutions that purchased stakes in Chinese banks and insurers.
The Indian Institute of Technology and Harvard educated former McKinsey head is one of the most prominent Wall Street titans to be charged by fellow Indian and Harvard alumnus Bharara.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
In a 99-page sentencing memorandum submitted in federal court on Thursday, Gupta's lawyer Gary Naftalis requested that the 'court impose a sentence of probation with the condition that Gupta perform a rigorous full-time program of community service.'
Gupta's lawyer Seth Waxman argued his case during a hearing before a three-judge panel of the 2nd US Circuit Court of Appeals in New York on Monday.
In its complaint filed in 2011, the SEC alleged that Gupta disclosed confidential information about Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs
Vodafone-Idea is working on a multi-pronged strategy to begin its long journey to get back in the game but much hinges on how much money it can raise following the government's decision to go for equity conversion last week. Based on discussions with sources aware of the company developments and with vendors, VIL's immediate plan is to invest in increasing 4G coverage to the level of its competitors. Currently, it covers a 1 billion population with 4G while its competitors cover 1.2 billion people.
Others shortlisted by the Department of Disinvestment for the NTPC offer were Deutsche Bank, SBI Capital Markets and Kotak Mahindra Capital.
Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares, or 0.93 per cent, of Infosys at the end of September, according to company filings with the stock exchanges.
Some banks called the Moody's move backward looking, arbitrary and unwarranted.
Some banks called the Moody's move backward looking, arbitrary and unwarranted.
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.
Testifying for the government on the eighth day of 63-year-old Gupta's insider trading trial yesterday, former marketing executive at Sri Lankan native Rajaratnam's Galleon hedge fund Ayad Alhadi disclosed that Gupta had been secretly serving as a Galleon executive.
According to the email, Kumar said, "When with Mukesh on portfolio question. . . 2 things to explore: A) Raj wants to know if they will get into the solar biz aggressively and when (there are implications for supplier companies etc)."
On Thursday, the UN pegged the calender 2013 growth at 6.4 per cent, while the ADB last projected that the domestic economy would reach 6 per cent in the current fiscal.
The B-school also witnessed new roles in the domain.
According to the research report by the investment banking major, economic activity levels remain weak in the country, particularly investment demand, as demonstrated by still 'anemic' order inflows and project starts.
The meeting with foreign investors assumes significance as the government is undertaking host of reform initiatives to attract investment.
The two bigger takeaways from this case for Indian regulators and enforcement agencies are the speed and efficiency with which it was concluded.
Will Judge Jed Rakoff be swayed by the former Goldman director's influential well-wishers or will he deliver stiffer punishment?
