Recently, it effected some changes to its top management, appointing Ajit Deshmukh the head of its investment banking arm so that founder Garg can focus more on the new PMS business, wealth management, structured debt for HNIs and institutional equities.
Sudarshan Sukhani of S2 Analytics says that it is a good time to exit long positions but not an adequate one to go short.
Fundamentals justify market at current levels and the market needs to consolidate now, says Mahesh Patil, Co-Cio, Birla Sun Life AMC.
The company said the transaction is subject to closing adjustments and regulatory approvals and includes operational grants for the entire major maintenance period.
Moreover, over the past eight years, the firm, which is a full service investment bank backed by prominent investors including Rakesh Jhunjhunwallah, has closed deals worth about USD 5 billion involving close to 90 deals across capital raising, M&As and repeat business.
Pressure is building on Railway Minister Pawan Bansal over the Rs 90 lakh bribery case that his family is being probed over.