- The 5 week consolidation from the highs of 5600 to the recent lows of 5150 has formed a good base and now markets should trend higher as money flows resume into “Riskier asset” classes.
After their meeting at Mumbai, the board members of US-based Goldman Sachs on Friday met in the capital indicating the investment bank's seriousness to increase presence in the region.
The board members of Goldman Sachs, which include India-born steel tycoon Lakshmi Mittal, met UIDAI Chairman Nandan Nilekani at Leela Palace Hotel here which remained out of bound for the media.
Though no details were shared with the media, the meeting took place here at a time when Goldman Sachs is facing tough times in the wake of prolonged economic and financial problems in the developed world.
The board members of America's investment banker, including Chairman and CEO Lloyd Blankfein and COO Gary Cohn, had met at Mumbai yesterday.
In Mumbai, the board members have reportedly met several Indian industrialists and bankers including Ratan Tata, Cyrus Mistry, Mukesh Ambani Kumar Mangalam Birla, Rahul Bajaj, Chanda Kochhar, Venugopal Dhoot, Adi Godrej, Gautam Singhania, Noel Tata and Uday Kotak.
The 12-member board's India visit is being seen as an exercise in relationship building with the country which continues to grow by 7 per cent.
Goldman Sachs' investments in India include stakes in ReNew Wind Power and Sigma Electric Manufacturing.