GOLDMAN SACHS GROUP
Goldman Sachs appoints Sudarshan Ramakrishnan and Devarajan Nambakam as the co-heads of Investment Banking in India
Goldman Sachs has named Sudarshan Ramakrishnan and Devarajan Nambakam as co-heads of its investment banking business in India. Sunil Khaitan has also joined as managing director. Ramakrishnan and Nambakam will drive growth strategy, reporting to Sonjoy Chatterjee. The firm aims to leverage global expertise to deepen client relationships amidst India's economic growth.
5 world market themes for the week ahead
The upcoming week promises significant market activity with pressure on Joe Biden's election prospects, anticipation of a Fed rate cut, key Q2 earnings reports, an ECB meeting, and the unveiling of the UK legislative agenda by King Charles. Analysts and investors should brace for developments from the U.S., Europe, and China that could influence global markets.
How Indian-American businessman duped Goldman Sachs of Rs 8,300 crore
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for his role in a $1 billion fraud scheme involving high-profile investors like Goldman Sachs and Google's parent company, Alphabet. The scheme, which included inflating advertising inventory and deceiving investors and clients, was uncovered in 2017. Shah's extravagant lifestyle, funded by fraudulent activities, included private jets and yachts. His sentencing marks the conclusion of one of the largest corporate fraud cases in recent history, highlighting the consequences of deceptive business practices.
Wall Street’s $5.5 trillion triple-witching to test market calm
This quarter’s expiration comes as implied volatility on S&P 500 options is holding near the lowest level since before the coronavirus pandemic, with the US benchmark index riding the surge in shares of Nvidia Corp. and other artificial intelligence-linked companies. The expiration coincides with index rebalancing, when S&P Dow Jones Indices shuffles company weightings and ETFs that track its gauges make similar adjustments.
Ozempic frenzy lures rich Indians to brave the gray market
People are going to great lengths to obtain popular weight-loss drugs. They are stashing injectables in their carry-on luggage, buying counterfeit formulas online, and importing boxes from Europe. The treatments have sparked extensive media coverage, fueling a high demand. According to Goldman Sachs Research, the anti-obesity medication market could hit $100 billion by 2030. In contrast, Indians have largely been observers in this global frenzy over the new weight-loss solutions.
Wall Street bankers beaten in ‘Smartest’ chess tournament
William Graif, a chess enthusiast, has competed in various countries and now focuses on teaching chess to children after participating in the World Corporate Chess Championship.
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Goldman Sachs boosts S&P 500 target on upbeat profit outlook
Goldman Sachs Group Inc. raises S&P 500 year-end target to 5,600, reflecting optimism for earnings growth and the US economy.
InsuranceDekho in talks to acquire credit marketplace BankSathi: sources
Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.
Oil dives 3%, OPEC+ decision fails to allay demand worries
OPEC+ on Sunday agreed to extend most of its deep oil output cuts into 2025 but left room for voluntary cuts from eight core members to be gradually unwound from October onwards. The group also agreed to a new output target for the United Arab Emirates, which has been pushing for higher quota.
Oil prices slip despite OPEC+ production cut extension
Oil prices fell as OPEC+ extended output cuts, impacting Brent and WTI futures. Goldman Sachs analysts view meeting as bearish. Gaza conflict mediators urge Israel-Hamas ceasefire. Israel considers alternative to Iran-backed group.
India’s near-8% growth gives Modi a boost as elections end
India is expected to report close to 8% economic growth for the fiscal year ending in March, boosting Prime Minister Modi’s government as elections conclude. The growth in the first three months is predicted to be 7%, with the full year reaching 7.9%. The quarterly GDP release is eagerly awaited.
Goldman sees India's stocks, bonds and rupee as top emerging market picks
Strong earnings growth is supporting the share market, while the country’s inclusion in international indexes, stronger government finances, and slowing inflation favor fixed income, analysts led by Kamakshya Trivedi, Danny Suwanapruti and Sunil Koul wrote in a note.
Gold prices flat ahead of US inflation data
Gold prices steady as investors await U.S. inflation insights. Spot gold at $2,338.04 per ounce, with futures at $2,358.30. Fed survey shows cautious optimism, while India's silver imports surge. BHP Group ends bid for Anglo American, impacting silver prices.
LIC shares can rally up to 30%; check target prices of 5 brokerages
Brokerages are largely positive on LIC's future as they see an upside potential of up to 30% in the stock, suggesting target prices as high as Rs 1,300.
Goldman Sachs expects oil demand to keep growing until 2034
The research division of the bank raised its 2030 crude oil demand forecast to 108.5 million barrels per day (bpd) from 106 million bpd, and expects demand to peak at 110 million bpd in 2034, followed by a long plateau till 2040, analysts led by Nikhil Bhandari said in a report.
Go Digit sees moderate listing, but analysts project optimism. What investors should do
Analysts said Go Digit's position as the fastest-growing private non-life insurer by GWP in India positions it for continued success in the insurance market. The company's advanced technology platform and focus on innovation bode well for its future.
Virat Kohli-backed Go Digit debuts at 5% premium over IPO price
Go Digit's shares listed on NSE and BSE at a premium. The stock debuted at Rs 286 on NSE and Rs 281.1 on BSE, with strong interest from buyers.
Gold retreats from near record-high levels as rate-cut bets ease
Shares of global miner BHP Group fell more than 3%, a day after smaller rival Anglo American rejected its third takeover proposal and agreed to a one-week extension for the deadline to make a binding offer.
Goldman says equity investors bracing for return of volatility
Stock investors are bracing for a spike in market volatility, and upcoming events such as Nvidia Corp.’s earnings report can exacerbate any moves, according to Goldman Sachs Group Inc. strategists.
Engineers India and Ircon are blue chips, holding them is akin to sitting on gold: Sanjiv Bhasin
Sanjiv Bhasin discusses the US-China relationship and the impact of tariffs on imports, highlighting potential cost benefits for India due to lower reliance on China. He also mentions the positive market trends and opportunities for investors. Bhasin says: "If you want to get new entrants, Engineers and Ircon are two stocks which we think can double and still look cheap."
Stocks to buy now? Aditya Birla Group to lead market; Voda Idea a doubler from here, says Sanjiv Bhasin
Sanjiv Bhasin predicts market trends post 23,000 crossing, election results. Advocates stock selection, supports AB Group, discusses real estate plays. Emphasizes Ashok Leyland potential over Tata Motors. Prefers Indiabulls Real Estate for better risk-reward.
Tata Motors shares fall 9% on downgrades after Q4 results. Should you buy, sell or hold?
Shares of auto major Tata Motors on Monday fell up to 7% to the day's low at Rs 975 on BSE after three major global brokerages Goldman Sachs, Morgan Stanley and Nomura downgraded the Nifty stock while Citi suspended rating on Tata Motors following weaker outlook for FY25
Blinkit contributes more to Zomato’s market cap than its food delivery biz: Goldman Sachs
Blinkit boosts Zomato's value surpassing its food delivery business. Blinkit’s implied value is Rs 119 per share, while Zomato’s food delivery business is valued at Rs 98 per share.
Kotak sees India index inclusion improving liquidity for banks
The move is expected to unlock funds for lending purposes and ease the pressure on banks that have been relying on costly deposits to disburse loans, Manian said in an interview. Kotak holds securities well in excess of the minimum statutory liquidity ratio mandated by the Reserve Bank of India, he said. Banks in India are the largest holders of government bonds.
Risk-addicted Wall Street funds are shaken as bad news piles up
Jerome Powell navigates monetary pivot amidst inflation decline. Geopolitical tensions challenge high stock, credit exposures. Israel-Iran strife impacts S&P 500. Goldman, Barclays revise rate-cut bets. Risk allocation analyzed. Northwestern Mutual adjusts stock exposure.
Vi’s Rs 2000 crore preferential issue to kickstart larger infusion plan
Vodafone Idea was formed by the merger of Aditya Birla Group’s Idea Cellular and the India unit of Vodafone Plc in 2018. The board also approved an increase in authorised share capital to Rs 1 lakh crore from Rs 75,000 crore.
Goldman sees Indian banks’ profitability coming under pressure
Indian banks were in a Goldilocks period over the last couple of years, during which lenders improved their top line and enjoyed a pickup in loan growth, according to Rahul Jain, co-head of Asia Pacific Financials Research at Goldman.
Tech stocks left out of rally ease fears a bubble is building
Twilio, the maker of communication software, and cybersecurity company SentinelOne are among those that have tumbled this year even as a rally in the biggest tech companies pushed the Nasdaq 100 and the S&P 500 to fresh all-time highs.
IndiGo Co-founder Rakesh Gangwal sells stake worth over Rs 7,000 crore in block deal: Report
Rakesh Gangwal, co-founder of IndiGo, likely sold 6.7% equity worth over Rs 7,000 crore in a block deal. IndiGo reported Q3 net profit of Rs 2,998 crore with revenue of Rs 19,452 crore. Passenger numbers grew 23% YoY with a load factor of 85.8%.
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