HDFC Bank hits new high on fund raising plans
Posted on 15th December 2017 |
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| HDFC Bank hit a new high of Rs 1,887, up 2.7% on the BSE, after the private sector lender announced that its board will meet on Wednesday, December 20, 2017 to consider a proposal for raising of funds. The stock surpassed its previous high of Rs 1,876.95 touched on October 24, 2017 in intra-day trade. A meeting of the board of directors of the Bank will be held on 20th December, 2017 to inter alia consider a proposal for raising of funds by issue of equity shares/ depository receipts and other securities including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs) program, preferential allotment or such other methods or combinations as may be decided, as well as a preferential issue to Housing Development Finance Corporation (HDFC), the promoter of the bank, HDFC Bank said in a regulatory filing. The raising of funds subject to such regulatory/ statutory approvals as may be required, including approval of shareholders of the Bank, if required, it added. Earlier in February 2015, HDFC Bank had raised nearly Rs 9,800 crore through a combination of foreign and domestic offerings. The bank raised about Rs 7,800 crore through an American depositary receipt (ADR). It also sold about 18.7 million new shares in the domestic market at Rs 1,067 per share, aggregating to Rs 1,985 crore through a QIP offering. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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