US bank holding firm Goldman Sachs Group Inc. has increased the capital in its wholly owned non-banking financial company, Pratham Investments and Trading Private Ltd, to Rs 485 crore (approximately US$100 mn), by pumping $76 million (Rs 370crore).

Market watchers believe that latest infusion by Goldman Sachs follows Credit Suisse and Morgan Stanley pumping money into their local arms.

With this latest infusion, Pratham Investments plans to use the funds to expand its credit trading and investing businesses.

It may be noted that earlier this month Morgan Stanley invested Rs 100 crore into its Indian retail stock broking and portfolio management services firm Morgan Stanley India Financial Services (MSIFS).

In January, this year Credit Suisse has also notified that it will pump additional $164 million (Rs 794 crore) into Credit Suisse Finance (India) Pvt. Ltd.

Established in 2006, Goldman Sachs India serves corporate and institutional clients through corporate finance (investment banking), equity sales and trading and fixed income securities businesses, as well as economic and investment research and offshore asset management.