Yes Bank sells 2.17% stake in Fortis Healthcare
Posted on 16th March 2018 |
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| Private sector lender Yes Bank has sold 2.17 per cent stake in Fortis Healthcare, out of over 17 per cent stake it acquired last month. In a regulatory filing, Yes Bank said it had sold 1.12 crore shares representing 2.17 per cent stake of Fortis Healthcare in the open market between February 23 and March 15, 2018. Yes Bank had acquired 17.31 per cent stake in Fortis Healthcare following invocation of nearly 9 crore pledged shares last month. “Yes Bank has acquired 8,97,81,906 equity shares having nominal value of Rs 10 per share of the company pursuant to invocation of pledge on the said equity shares subsequent to default by promoter group companies in the credit facility provided by the bank,” Fortis Healthcare had said. The shares were acquired by Yes Bank on February 16, consequent upon invocation of pledge on these shares, it added. On February 15, the Supreme Court lifted its stay on sale of shares of Fortis Healthcare pledged with banks by the promoters Singh brothers (Malvinder Mohan Singh and Shivinder Mohan Singh) before August 31, allowing financial institutions, including Axis Bank and Yes Bank, to sell the pledged shares. Subsequently, the stake of promoter firm Fortis Healthcare Holdings along with promoters (Singh brothers) and other family entities have come down to 5.87 per cent from 34.43 per cent earlier. Shares of Fortis Healthcare were trading 1.25 per cent lower at Rs 158.20 apiece on BSE. |
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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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