Page 6 - Goldman Sachs

Mark Mobius follows Goldman bet on China boost for emerging market equities

They said they expect further upside in emerging-market equities, with spillovers from China's growth in several countries such as South Korea, Malaysia and South Africa

Investor sells 8.45% of R Systems for Rs 465 cr, Goldman picks up stake

Investor Bhavook Tripathi on Friday trimmed its stake in R Systems International by divesting an 8.45 per cent stake to investors like Goldman Sachs, DSP Mutual Fund (MF), and Sundaram MF for Rs 465 crore through open market transactions. After the stake sale, Tripathi's holding has come down to 20.58 per cent from 29.03 per cent. However, he will remain the largest non-promoter shareholder/public shareholder of Noida-based R Systems. According to the block deal data available on the BSE, Tripathi offloaded 99,99,995 shares in eight transactions, amounting to an 8.45 per cent stake in the IT firm. The shares were sold at an average price of Rs 465.15 apiece, taking the transaction value to Rs 465.15 crore. Sundaram Mutual Fund, DSP Mutual Fund, Emerging Business Fund, Siddharth Iyer, Jagdish Naresh Master, Goldman Sachs, Dublin-based investment management firm Mediolanum International Funds and Carnelian Asset Management & Advisors were among the buyers of R Systems' shares on the

JPMorgan in talks with Apple over Goldman credit card partnership: Report

JPMorgan-Apple talks started earlier this year, advanced recently

Goldman Sachs, Citigroup lower China's 2024 growth forecast to 4.7%

Weak economic activity in August has ramped up attention on China's slow economic recovery

DBS may tap Goldman Sachs to help find insurance partner in India, Taiwan

The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser on potential ban assurance agreements for those markets

SBI, Vodafone Idea and Indus stocks tank after Goldman Sachs 'sell' call

Airtel outperforms as the US-based brokerage reiterates 'buy'

VIL's capital-raise unlikely to plug market share erosion: Goldman Sachs

Vodafone Idea's recent capital-raise while incrementally positive, may not be adequate to stop the telco's market share erosion, according to a note by Goldman Sachs. The brokerage has, in fact, anticipated another 300 bps (basis point) share loss for the company over the next 3-4 years, citing the direct correlation between capital expenditure and revenue market share, and given its own expectation of peers spending at least 50 per cent higher capex versus Vodafone Idea. One basis point is equal to 1/100th of a per cent. "Vodafone Idea's recent capital raise, while incrementally positive, is unlikely to be adequate to stop the company's market share erosion in our view," it said. Additionally, it said, Vodafone Idea has large Adjusted Gross Revenue (AGR)/spectrum-related payments starting in FY26. "While the government has the option of converting some dues into equity, we estimate ARPUs would have to rise by Rs 200-270 (120-150 per cent under different scenarios) versus December

Goldman Sachs downgrades SBI to 'Sell', slashes target price; share slips

The fall in SBI share price came the New York-based brokerage Goldman Sachs downgraded SBI to 'Sell' from 'Neutral'.

Kamala Harris' tax plan may cut down 5% of corporate profits: Goldman Sachs

On Wednesday, Harris said Trump's plans would cut off federal programs that offer loans to small businesses, cut the corporate tax rate and push the US deficit higher

Harris' proposed tax reforms may cut S&P 500 earnings by 5%: Goldman Sachs

Harris proposed raising the corporate tax rate to 28 per cent from 21 per cent and ensure big corporations pay their fair share

Retail firms are focused on shoppers spending, tariffs: Goldman Sachs

Consumers continue to be "somewhat steady," but they are spending selectively after years of inflation, McShane added.

'Go for gold' as China weighs on other commodities, says Goldman Sachs

The Wall Street lender adjusted its gold target of $2,700 to early 2025, versus previous forecast of end-2024, citing a price-sensitive China market

Goldman Sachs to lay off up to 1,800 employees amid annual review process

Goldman Sachs' annual review process has historically resulted in workforce reductions of 2 to 7%, depending on financial performance and market conditions

Goldman Sachs Group cuts India's 2024 and 2025 GDP growth forecasts

The bank now expects the nation's economy to expand at 6.7% in calendar 2024, and 6.4% in 2025.

Brokerages on board with Budget but for capital gains tax curveball

As markets sift the Budget's fine print, they'll also monitor Q1 earnings, monsoon trends, and global factors

Swiss bank Julius Baer names Goldman Sachs exec Stefan Bollinger as new CEO

Bollinger, who is currently co-head of private wealth management for Europe, Middle East and Africa at Goldman Sachs in London, will join Julius Baer no later than Feb 1, 2025, the Swiss bank said

Vedanta raises $1 bn via QIP; Goldman, Morgan Stanley among top investors

Mining conglomerate Vedanta Limited raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share, according to a stock exchange filing by the company. The issue, which closed on July 19, implied a discount of 4.61 per cent to the floor price of Rs 461.26 per equity share. In a stock exchange filing, Vedanta said it sold 19.31 crore shares to raise Rs 8,500 crore. Some of the marquee investors that have been allotted equity shares through the QIP include Abu Dhabi Investment Authority (ADIA), Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, ICICI Mutual Fund, Aditya Birla Mutual Fund and Mirae Mutual Fund. Various funds run by Nippon Mutual Fund were allotted 9.11 per cent of the total issue size, while funds managed by Morgan Stanley and SBI Mutual Fund received 8.62 per cent and 7.88 per cent, respectively. Speaking on the occasion, Vedanta chairman Anil Agarwal

Income tax rate cut, sops for PSUs: Brokerage expectations from budget 2024

Expectations (as measured by pre-budget equity market performance), wrote analysts at Morgan Stanley in a note, are important in determining what the market does immediately after the budget

Goldman Sachs profit more than doubles in June quarter, beats expectations

The resilience of the U.S. economy has given corporate executives the confidence to pursue acquisitions, debt sales and stock offerings

Goldman Sachs appoints co-heads of investment banking business in India

The firm also announced that Sunil Khaitan has joined as head of financing in India. Reuters reported in April that Goldman hired Khaitan from Bank of America