GOLDMAN SACHS
Circle Internet Group IPO: Top things investors need to know
Circle Internet Group, the company behind USDC, has filed for an IPO aiming to raise $624 million, potentially valuing the firm at $6.7 billion. The offering includes 24 million Class A shares, with ARK showing interest in purchasing $150 million worth. This marks Circle's second attempt to go public.
PG Electroplast block deal: Government of Singapore buys shares worth Rs 288 crore in multibagger smallcap
The Government of Singapore purchased ₹288 crore worth of PG Electroplast shares at a 2% discount via block deal, while BNP Paribas bought ₹10 crore in Suraksha Diagnostic. PG Electroplast posted 107% YoY profit growth in Q4FY25 despite recent stock correction.
Stablecoin firm Circle targets $5.65 billion valuation in US IPO
Circle Internet, the issuer of stablecoin USDC, is targeting a valuation of up to $5.65 billion in its US IPO. The company aims to raise $624 million by offering 9.6 million shares, with shareholders selling 14.4 million more, priced at $24–$26 each. It will trade under "CRCL".
The Leela IPO subscribed 16% on Day 2, GMP dips to 1.8%. Should you subscribe?
The Leela IPO, valued at Rs 3,500 crore, consists of a fresh issue worth Rs 2,500 crore and an offer for sale (OFS) totalling Rs 1,000 crore. The IPO opened for subscription on May 26 and will close on May 28. Share allotment is expected on May 29, while the company is scheduled to debut on the stock exchanges on June 2.
Rakesh Gangwal, family trust sell 5.7% stake in IndiGo for Rs 11,559 crore
InterGlobe Aviation promoter Rakesh Gangwal and his family trust on Tuesday sold a 5.7 per cent stake in the airline for about Rs 11,559 crore (USD 1.36 billion) through a block deal, according to sources.
European shares steady as defence stocks climb on Russia sanctions threat
European shares remained stable on Tuesday, supported by defence stocks after U.S. President Donald Trump threatened additional sanctions on Russia, though broader gains were restrained by ongoing caution over U.S. trade policy shifts.
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Goldman Sachs sees 22% upside in Varun Beverages, starts coverage with Buy on long-term growth potential
Goldman Sachs initiated coverage on Varun Beverages with a 'buy' rating and a target price of Rs 600, highlighting strong execution and long-term growth potential in India's underpenetrated ready-to-drink market. The brokerage expects VBL to continue gaining market share, driven by leadership in fast-growing segments like energy and hydration drinks. Robust financials and a resilient distribution network further strengthen the growth outlook.
IndiGo shares slip 3% as co-founder Rakesh Gangwal likely offloads Rs 11,988 crore stake via block deal
IndiGo shares: Rakesh Gangwal plans to sell a stake in IndiGo through a block deal worth ₹11,300 crore, managed by Goldman Sachs, Morgan Stanley, and JPMorgan, as part of his gradual exit strategy. Despite a recent 62% year-on-year rise in net profit for the March quarter, IndiGo's full-year net profit fell 11%.
The Leela's Rs 3,500 crore IPO opens for bidding, subscribed 6% on Day 1. Check GMP, other details
IPO GMP: Schloss Bangalore Limited, owner of The Leela Palaces, Hotels & Resorts, launched its IPO on May 26, aiming to raise Rs 3,500 crore. The IPO saw modest initial subscription, with strong anchor investor participation including Goldman Sachs and Fidelity. While SBI Securities recommends subscribing, Bajaj Broking advises caution due to current losses and steep valuation compared to peers.
JPMorgan expands tech team with four veteran bankers from BofA, Goldman, Lazard
JPMorgan is strengthening its technology investment banking team with key hires from Goldman Sachs, Bank of America, and Lazard. The expansion, focused on the West Coast, supports major tech deals including Global Payments’ $24.25 billion Worldpay acquisition and CoreWeave’s $23 billion debut, reinforcing JPMorgan’s commitment to the tech sector.
Aegis Vopak Terminals IPO: Company raises Rs 1,260 crore from Nomura, Aberdeen 30 other anchor investors
Aegis Vopak Terminals raised ₹1,260 crore from 32 anchor investors ahead of its ₹2,800 crore IPO opening May 26. Key investors include global funds and domestic mutual funds. The IPO is entirely a fresh issue with no offer-for-sale component.
Leela Hotels IPO: Brookfield-backed firm raises Rs 1,575 crore from Goldman Sachs, Fidelity, 45 other anchor investors
Schloss Bangalore, operator of The Leela Hotels, raised ₹1,575 crore from 47 marquee anchor investors ahead of its ₹3,500 crore IPO. Despite past losses, the firm showed strong post-COVID recovery, attracting major global and domestic institutional interest.
Ace investor Mukul Agrawal sells shares worth Rs 1 crore in this smallcap stock. Check details
Ace investor Mukul Agrawal sold over 1.3 lakh MITCON shares for ₹1 crore via a block deal at ₹80.52 apiece. Despite past underperformance, the stock gained 8% today and 14% in the last month, signaling a recovery trend.
TD Power Systems shares in focus after Goldman Sachs buys Rs 50 crore stake via block deal
Goldman Sachs acquired nearly 11 lakh shares of TD Power Systems via block deals, valued at Rs 50.30 crore, at Rs 460 per share. The smallcap company reported a 26% YoY increase in net profit for Q4FY25, reaching Rs 44 crore, with net sales up by 40% to Rs 376.34 crore.
Stocks in news: JSW Steel, ITC, Trent, Grasim Industries, Sun Pharma
Indian markets experienced a slight downturn, influenced by weak global signals. Several companies are in focus due to Q4 results: Grasim Industries reported a profit increase, while Sun Pharma saw a decline. Trent will replace Nestle India in the BSE Sensex. Ola Electric is set to raise funds through debt instruments.
Goldman Sachs buys shares worth Rs 50 crore in this smallcap stock via block deal
Goldman Sachs acquired approximately 11 lakh shares of TD Power Systems in a block deal valued at Rs 50.30 crore, purchasing them at Rs 460 per share, a 7% discount from the previous day's closing price. Despite this acquisition, the stock experienced a slight dip, closing at Rs 483 on the NSE.
TeamLease expects revenue lift from manufacturing, consumer sectors
TeamLease Services anticipates revenue growth of up to 22% in the upcoming financial year, fueled by strong job creation in quick delivery, consumer goods, and manufacturing sectors. Despite regulatory hurdles in the BFSI sector and AI's impact on IT hiring, the company remains optimistic. A 27% rise in quarterly profit was reported, driven by recruitment demand across various industries.
Goldman Sachs combines three Asia IB businesses, names Drayton new unit head
Goldman Sachs is consolidating its Asian investment banking operations, merging three previously separate units into a single Asia Pacific division. Iain Drayton will lead the integrated unit, aiming to enhance client engagement and leverage regional expertise. This restructuring seeks to streamline deals advisory and capital market capabilities across the region.
Dollar forecast: US currency is sliding everyday. What to expect in 2025?
Dollar is down on the year against every major currency. Donald Trump's tax bill would add $3 trillion to $5 trillion to the country's debt.
Moody’s US downgrade, a fresh jolt for IT stocks after stellar 30% rally – buy or avoid?
Moody's downgrade of the US credit rating has sparked concerns for Indian IT stocks, heavily reliant on US revenue. While the sector experienced a recent surge, driven by factors like tariff pauses and strong earnings, the downgrade triggered a market correction. Analysts advise caution, suggesting investors monitor stop losses and focus on companies with diversified client bases and AI capabilities.
Jio, Airtel to grow on user gains, tariff hike: Analysts
Reliance Jio and Bharti Airtel are poised for substantial revenue and operating income growth in the coming years, fueled by increasing mobile broadband adoption and potential tariff hikes. Jio anticipates a 17%/21% revenue/operating income growth, driven by tariff increases and fixed wireless access expansion.
Gold rallies Rs 580 to Rs 97,030/10 gm; silver climbs Rs 500
Gold prices rallied Rs 580 to Rs 97,030 per 10 grams in the national capital on Monday amid strong trends in the international markets, according to the All India Sarafa Association. On Friday, the precious metal of 99.9 per cent purity had closed at Rs 96,450 per 10 grams.
Charting the global economy: US, China forecasts improve on tariff truce
Elsewhere, global economic developments include job cuts in Britain and potential clashes in Saudi Arabia's investment ambitions.
Binita Agarwal appointed as foundit's CFO
foundit, formerly Monster APAC & ME, has appointed Binita Agarwal as its new Chief Financial Officer. With over 15 years of experience in finance, compliance, and business strategy, Agarwal will oversee the finance and accounts function across all regions. Her expertise will be crucial in strengthening financial systems and driving long-term value for the company.
Jubilant FoodWorks shares in focus after Q4 profit jumps 93% YoY. Should you buy, sell, or hold?
Jubilant FoodWorks shares: Standalone revenue from operations increased by 19.1% to Rs 1,587 crore, up from Rs 1,332.3 crore in Q4 FY24. On the operating front, standalone EBITDA rose 19.7% to Rs 305.4 crore compared to Rs 255.2 crore in the same quarter last year, with the EBITDA margin inching up to 19.2% from 19.1%.
Goldman Sachs fined for failing to properly report billions of trades
Goldman Sachs will pay a $1.45 million fine to settle claims by FINRA for inaccurate reporting of billions of stock market trades. Coding errors led to inaccurate reporting of 36.6 billion trades to the CAT Central Repository. A technology failure in 2021 also caused inaccurate preparation of order memoranda and trade confirmations.
JP Morgan, Goldman Sachs cut back US recession forecasts after US-China announce tariff truce
Easing trade tensions between the US and China have prompted major brokerages like Goldman Sachs and JP Morgan to revise their US recession forecasts. Goldman Sachs reduced its recession estimate to 35%, while JP Morgan places the probability below 50%.
JPMorgan drops US recession call, ups China outlook
"The administration's recent dialing down of some of the more draconian tariffs placed on China should reduce the risk that the US economy slips into recession this year," JPMorgan Chief US Economist Michael Feroli said on Tuesday. "We believe recession risks are still elevated, but now below 50%."
Goldman Sachs cuts US recession odds to 35% from 45% on trade truce optimism
Goldman Sachs revised its U.S. recession forecast downward to 35%. This follows a tariff truce between the U.S. and China. The brokerage also increased its 2025 U.S. GDP growth forecast. It now anticipates three Federal Reserve rate cuts in 2025 and 2026. Goldman Sachs raised its year-end target for the S&P 500 index to 6,100 points.
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