Sunil Sanghai, the head of the investment banking team speaks on Goldman Sachs' India plans, mergers and acquisitions, and the regulatory arena.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
The acquisitions were made in areas which are closely related to Reliance's key businesses - telecom, internet, retail, digital, media, education, digital, chemicals and energy.
While Mukesh Ambani-led RIL posted a 108 per cent YoY rise in profit after tax for Q4FY21 at Rs 13,227 crore, it fell short of Bloomberg estimate of Rs 13,704 crore.
IITs anticipate COVID-19 restrictions to impact international offers being extended by global recruiters.
The RBI, in its last policy statement, had mentioned that 'headroom for further monetary easing remains quite limited' due to risks on account of the current account, and pressures on inflation.
For its m-cap to more than double, RIL needs government nod for nearly doubling of its gas price of $8 per million British thermal unit together with approvals for oil and gas field investments.
Attorney David Frankel questioned Joseph Yanagisawa, an employee in Goldman Sachs's technology unit, about phone calls between the global banking giant's head of Asia Equity Sales David Loeb and Rajaratnam.
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 'terrible' surge of the coronavirus cases in India has severely impacted COVAX's vaccine supply in the second quarter of this year to the extent that there will be a shortfall of 190 million doses by the end of June, according to a joint statement by the WHO, UNICEF, GAVI and CEPI.
On the fourth day of the trial on Thursday, the jury was shown details of phone conversations from September 2008 in which Rajaratnam brags about getting information on Goldman.
The move came two days after the lawyer said it was 'highly likely' that Gupta would take the witness stand in his trial.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
Goldman said India's economy is likely to expand by 6.7 per cent in the current fiscal and 5.8 per cent in 2009-10. The gross domestic product growth rate was 9 per cent in the previous fiscal.
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.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
Low-cost carrier SpiceJet will receive about $65 million within a week as the second tranche of investment by US private equity firm WL Ross and Co and by Goldman Sachs.
According to a Deutsche Bank report, the Idea-Vodafone combine will have to pay a 30 per cent lower annual installment on spectrum due to the longer duration of the payment tenure.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
Analysts expect firms to shift focus to online platforms to boost sales in these Covid-19-impacted times.
Sri Lanka-born billionaire Raj Rajaratnam's defence team on Wednesday told a US jury that his trading in Goldman Sachs was not based on insider information, but a great deal of research and discussion on the investment bank, especially during the financial crisis.
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
Despite a slowing economy, the Budget does not envisage any major stimulus through the budgeted fiscal deficit figures, said Goldman Sachs.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
State-run Power Finance Corporation (PFC) on Thursday said it has appointed four merchant bankers - Goldman Sachs, JM Financial, DSP Merill Lynch and ICICI Securities - to manage the Rs 5,600 crore (Rs 56 billion) follow-on public offer.
The growth will happen in the asset management market, as the Indian population is richer and economy would continue to grow.
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
The B-school also witnessed new roles in the domain.
BP has valued Reliance Industries' (RIL) new exploration and production (E&P) business at around $25 billion (Rs 1,12,500 crore), according to Goldman Sachs.
Inflation declined marginally to 8.23 per cent in January from 8.43 per cent in the previous month, as prices of certain commodities like wheat, pulses and sugar eased, although essential items like onion and other vegetables continue to remain dearer.
Stating that India's economic stimulus was not adequate, Banerjee said, the measures did not increase consumption spending of lower income people as the government was not willing to put money in the hands of the low income population.
Falling food prices notwithstanding, consumer inflation will remain high during the current fiscal because of high cost of housing and services as well as the increasing inflationary pressures from smaller cities, Goldman Sachs said in a report on Tuesday.
RIL, according to Goldman, offers the best downstream exposure in the Asian oil sector with its high quality asset base, diversified product portfolio, efficient management of inventory valuation swings and ability to fund large organic expansionary capex without taking on debt.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
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