India was being evaluated for a potential weight of around 1 per cent in the index, an allocation that could have translated into $25 billion of inflows, spread over roughly 10 months.
In November, six primary market issuances accounted for more than 13,000 crore of net equity investments by MFs.
Analysts have sharply reduced cigarette maker ITC's earning estimates for the next two years, fearing a significant dent in the company's profitability and margins. This is owing to a steep hike in excise duty on tobacco by the government.
'The first time India has seen two consecutive blockbuster IPO years.'
The takeover surpasses the previous LBO record -- the $45 billion buyout of Texas utility TXU Energy in 2007 -- and underscores investors' long-term bet on blockbuster gaming franchises.
Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".
Tata Consultancy Services (TCS), Cognizant and eight other major corporations have been questioned by US Senators for filing thousands of H-1B skilled labour visa petitions after conducting "mass layoffs" of American employees.
'India may never fully participate in the AI hype cycle, but we can position ourselves to benefit from its inevitable disenchantment and the cycle of disillusionment,' alerts Akash Prakash.
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
For Lori Beer, chief information officer, JPMorgan Chase & Co, largest banker in the US, India is a big part of the organisation's global technology footprint and is core to its products and services. This is evident from the fact that in less than two months since JPMorgan & Chase chief executive officer Jamie Dimon visited India, Beer has come here to see the recently opened centres in Mumbai and Bengaluru. "What is different for me this year are our new centres and to be able to come and see the vibrancy, and connectedness is great.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
According to experts, banks have found better arbitrage opportunities in dollar terms in mature economies with mortgage and leverage rather than take equity exposure on Indian real estate.
US District Judge Katherine Forrest in Manhattan denied JPMorgan's bid to dismiss the 2009 lawsuit by the Operating Engineers Pension Trust of Pasadena, California.
Although UltraTech Cement's results for the December quarter of the current financial year (Q3FY25) were not an improvement compared to Q3FY24, the company managed to surpass Street expectations. The company's profit attributable to the owners of the parent dropped 17.4 per cent year-on-year (Y-o-Y) to Rs 1,469.5 crore in Q3FY25 as against Rs 1,777 crore in Q3FY24.
JPMorgan said it had hired Kalpana Morparia, one of India 's most senior domestic bankers, to run its operations in the country.
Lehman Brothers Holdings Inc's estate has filed a lawsuit against JPMorgan Chase, alleging that the Wall Street major siphoned billions of dollars just days before the demise of the company.
Trading loss of global financial services firm JPMorgan Chase & Company may touch $9 billion, much higher than previous estimates of $2 billion disclosed last month, according to a media report.
Tony Blair will be US investment bank JPMorgan's part time political advisor.
JPMorgan Chase was "at the very centre" of Madoff Ponzi scheme
The US-based global financial company is understood to have shown a "keen interest" in helping the hospital, which has 140 acres in its land bank, to unlock the value of its real estate assets.
JP Morgan may buy stake in debt -laden SpiceJet
Investment bank JPMorgan has cut the GDP growth forecast for India for 2008-09 to 7 per cent from 7.5 per cent previously, citing expected moderation in industrial and service sector growth. The International Monetary Fund and Crisil have projected 8.2 per cent and 8.5 per cent GDP growth respectively. 7% is the lowest growth forecast for 2008-09 so far. JPMorgan said cut in growth expectations for India was due to US slump. It expects RBI to cut repo rate by 25 basis points.
JPMorgan, which got $25 billion under the Troubled Asset Relief Program, intends to raise $5 billion to satisfy a supervisory condition for repayment of the government funds requiring demonstrated access to equity capital markets, a company statement said.
Financial services major JPMorgan Chase on Thursday posted 36 per cent surge in the second-quarter profit at $2.72 billion, propelled by a steep rise in investment banking fees.
JPMorgan Chase is planning to invest $100-150 mn a year in India. This fund will be looking at a range of sectors and would not be focused on one particular sector. It can bring in sector expertise, investment banking expertise and the other broader resources of a full-service financial institution. The new fund, Private Capital Asia, will take non-controlling stakes in mid-cap companies, exclusively in Asia. JPMorgan regards India as a supportive market for private equity.
The acquisition would create largest US depository institution with over $900 billion of customer deposits, financial services firm, a JPMorgan statement said. However, the transaction excludes senior unsecured debt, subordinated debt and preferred stock of Washington Mutual's banks, it added.
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.
JPMorgan Chase took the market by surprise on Thursday after it announced a $2 billion trading loss.
As far as US growth is concerned, he says that the first half of next year is expected to be better than the second half of this year.\n\n
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
'I'm just about getting out of the cocoon now,' the former investment banker-turned-politician tells Kavita Roychowdhury.
The Hinduja group is learnt to be looking at alternative means of financing, including private credit, to fund its Rs 9,661 crore all-cash offer to acquire Reliance Capital. The regulator, Insurance Regulatory & Development Authority of India (Irdai), had earlier rejected the collateral offered by the group to raise funds. The Hinduja group was in talks with Barclays, JPMorgan, Cerberus Capital Management and Apollo Global Management to raise up to $850 million.
The bank sheds staff to help it deal with bad home loans.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Higher valuation creation in companies beyond the top 100 has given the domestic markets a shot at a $4 trillion market capitalisation (mcap) - a club exclusive to three countries currently. On November 23, the mcap of all BSE-listed stocks finished at a new record of Rs 328.33 trillion ($3.94 trillion), despite the benchmark indices ending with losses. The mcap was propelled by gains in the broader market, including small and midcap stocks - a trend dominant this year.
Riding the wave of the equity market, the mutual fund (MF) industry experienced double-digit growth in Samvat 2079, concluding the Hindu calendar year close to the Rs 50 trillion assets under management milestone. After a subdued 6 per cent growth in Samvat 2078, the industry's assets surged over 18 per cent last year to Rs 46.7 trillion. Industry players anticipate that Samvat 2080 will also be a fruitful year for the asset management industry, given the strong inflows from retail investors, particularly through the systematic investment plan route.
Jefferies, IIFL, and JM Financial - none of which were in the top five last year - have now claimed the top spots in the league tables for equity capital markets (ECM) during the first nine months of calendar year 2023 (CY23), a period characterised by small- and mid-sized transactions. This shift marks a significant change, with these firms outperforming the bulge-bracket investment banks. According to data provided by Refinitiv, Jefferies leads the domestic ECM market, having handled share sales worth $2.3 billion, representing 12.4 per cent of the total volume of $18.4 billion for ECM transactions.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
'The cost of financing the fiscal deficit will decrease, as new passive investors join in.'
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