The other bankers who have been selected by the Department of Investment and Public Asset Management (DIPAM) for managing the stake sale are Deutsche Equities, SBI Capital Markets and ICICI Securities, sources said.
The company reported 6.8 percent quarter-on-quarter (QoQ) fall in the net profit to Rs 3,720 crore for the quarter ended March 31.
Amid regulatory headwinds from the USFDA and pricing pressure back in India, Jhunjhunwala asked about growing consolidation on the buying side in the industry and can it also extend towards sell side consolidation.
The life insurance arm of top Indian lender State Bank of India will hire five local banks - Axis Capital, ICICI Securities, JM Financial, Kotak and SBI Capital Markets -IFR, a Thomson Reuters publication, said.
Tencent, which had an original target of about $2 billion for the loan, inked the deal on March 24 following commitments from a dozen banks, Thomson Reuters publication Basis Point reported, citing sources.
The market is currently driven by global liquidity and it would be too early for investors to take money off the table, Apabhai of Citigroup has said. Yes, valuations do look extreme but investors should not worry about that too much and enjoy the liquidity party for a month of two.
Citigroup Inc on Friday said that U.S. government and regulatory agencies are investigating the bank's hiring practices.
According to global financial services major Citigroup, the RBI's timing remains uncertain, but the possibility of a 25 bps rate cut is high in the near-term.
Kingdom Holding Co, which owns a 34 percent stake in the airline, said flynas has finalised the "deal with Airbus for the purchase of new aircraft." The statement gave no details of the number or type of planes that flynas will acquire.
The Reserve Bank of India is expected to go for only a 25 bps rate cut this year and the likelihood of an easing in April is more than in February, says a Citigroup report.
Global brokerage Citigroup has lowered India's growth forecast to 6.8 percent for this fiscal from 7.2 percent earlier, as cash crunch has affected pick-up in consumption while uncertainty around demonetisation may further delay any recovery in private investments.
Investors are likely to await ECB meeting this week and Fed FOMC next week for further cues, says Johanna Chua of Citigroup.
According to the global financial services major, there is a "risk of a sub-7 percent GDP growth" this fiscal following lower-than-expected second quarter GDP print, adverse impact of demonetisation and fall in investments.
According to the global financial services major, the country's current account could likely widen in fiscal year 2017-18 to USD 30 billion or 1.2 percent of GDP.
According to the global financial services major, there is close to 50 bps downside to RBI's March 2017 CPI target of 5 percent and consequently some space for further easing.
According to the global financial services major, the potential impact of the government's move on certain sectors like real estate, housing finance, banks, fintech/payment space and consumer discretionary space is expected to fuel volatility in the markets.
According to the global financial services major, CPI inflation is likely to slide further to sub-4 percent print by November-December before firming towards 4.5 percent by March 2017.
A win for Trump, 70, could take a big bite out of US stocks and the S&P 500 will fall by three to five per cent immediately if he is elected president, Citi said in a note to clients, the bank said citing its latest forecast.
Like rivals JPMorgan and Citigroup , Bank of America enjoyed a boost from a resurgence in trading. That came as clients scrambled to reposition after Britain's surprise June vote to leave the European Union, and changing expectations for monetary policy in the United States, Europe and Japan.
Corporate earnings, economic reports and Fed speakers could all challenge markets in the week ahead, but traders will be on guard for the latest catalyst â€” the potential bombshells coming from the presidential election.
On Thursday, the Bank of Korea (BOK) warned that overall exports could suffer from Samsung scrapping production of the fire-prone Galaxy 7 smartphone, highlighting how the setback at the nation's largest company is spreading to the broader economy.
Deora has spent 17 years at Citi and was behind brokering the Alibaba deal for Paytm last year.
Surendra Goyal of Citigroup feels volatility could continue in the near term. Unless Pakistani forces take an aggressive stance, this dip will be prove to be a buying opportunity, Mahesh Nandurkar of CLSA says.
Statements from key players like the Saudis, the Russians, the Iranians leaves you very sceptical if they can really come to any kind of meaningful agreement, says Citigroup's Seth Kleinman.
The country's current account is likely to be in surplus in the first quarter of this financial year, says a Citigroup report.