Goldman bans staff from participating in finance, politics prediction markets, source says
Goldman Sachs has prohibited staff from trading prediction market contracts. These contracts are linked to financial markets and political events. The policy aims to prevent conflicts of interest with the bank. Violations could lead to disciplinary action and forfeiture of gains. Restrictions do not apply to sports and entertainment prediction markets.
IC Electricals IPO opens today: Grey market hints at a robust 44% listing premium
The IC Electricals IPO received an overwhelming response from investors, with the public issue being subscribed 420.09 times by the close of bidding.
Global Market Today: Asian stocks rise following chip rally, oil slips
Asian stocks climbed as investors favored semiconductor shares due to AI demand. Oil prices declined as energy supply disruption fears eased. South Korea’s Kospi index saw a significant rally, while other regional benchmarks edged higher. Futures for the Nasdaq 100 Index indicated a more cautious market sentiment. Company earnings and profit growth will guide market […]
TCS’ next growth phase hinges on AI investments, not just deal momentum
Tata Consultancy Services reported flat dollar revenue and margin contraction in the June quarter. AI revenue shows growth but remains a small part of total earnings. The company paid significant dividends, impacting its ability to invest internally. Sustained order flow and stable attrition offer some long-term hope. TCS needs to balance investor returns with future […]
Hot Stocks: 2 stocks that may give over 21% returns
Brokerages initiated coverage on Syrma SGS and Vedanta Aluminium with buy ratings. HSBC set a price target of Rs 1,750 for Syrma SGS, implying a 21.4% upside. Motilal Oswal Financial set a Rs 540 target for Vedanta Aluminium, indicating a 21.6% potential gain. These targets suggest significant returns over current trading prices. Both companies are […]
DBS Bank India profit jumps 49% on lower costs, better asset quality
DBS Bank India reported a significant 49% net profit increase. Advances grew fifteen percent while expenses and provisions saw a decrease. Total income fell seven percent to Rs 10,591 crore for the year. Gross NPAs dropped to 1.34 percent, reflecting improved asset quality. The bank’s capital adequacy stood at 19.7 percent.
EMS players rally after govt extends customs duty sops
Electronic manufacturing services players’ shares rose Thursday after duty concessions were extended. This relief covers machinery for lithium-ion battery and display component manufacturing. The government’s move reinforces its commitment to the domestic electronics ecosystem. Shares of Syrma SGS Technology and Dixon Technologies are strong performers. This import duty concession should act as a tailwind for […]
SBI Funds’ IPO price band deals a blow to grey market punters
SBI Funds Management set its IPO price band at ₹545-574 per share. This pricing represents a significant discount to its unlisted market value. The public issue, an offer for sale, opens for subscription on July 14. Investors who bought shares earlier may face mark-to-market losses. This IPO is the largest so far in 2026.
SBI Funds IPO priced at discount to listed AMCs on valuation metrics
SBI Funds Management’s IPO is priced at a discount to listed asset management companies. Its valuation reflects a lower share of equity-oriented schemes compared to peers. Equity funds generate higher fee income and profitability for asset managers. Investors typically assign premium valuations to asset managers with a larger equity franchise. This preference may explain SBI […]
Shriram Finance taps foreign banks for cheaper debt
DBS Bank, HSBC, Standard Chartered and MUFG are among the banks which have lined up to provide this loan. ET could not ascertain the names of all lenders. “The loan has been launched with half a dozen banks already lining up for the first underwriting.