ICICI Bank falls 5% as ED initiates enquiry in ICICI-Videocon loan
Posted on 2nd April 2018 |
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| ICICI Bank hit five-month low, down nearly 5% on the BSE after the media reports suggested that the Enforcement Directorate (ED) has started an enquiry into the Rs 32.50-billion loan sanctioned to the Videocon group and others by ICICI Bank, which was part of a consortium of lenders. The stock of private sector lender was down 4.6% to Rs 265.40 on the BSE in early morning trade, its lowest level since October 24, 2017. On comparison, the S&P BSE Sensex was trading 0.13% higher at 33,011 points at 09:38 am. Videocon Industries was locked in lower circuit at Rs 12.45 on the BSE with no buyers were seen on the counter. A combined 999,693 shares changed hands and there were pending sell orders for around 63,871 shares on both the exchanges. ED has written to the Securities and Exchange Board of India (Sebi), seeking information on the Videocon group. The ED asked for details of the investigation into the group’s activities in the past few years, the Business Standard report suggests, quoting officials. According to Reuters report, the Central Bureau of Investigation (CBI) has launched a preliminary investigation into the husband of ICICI Bank's chief executive, as well as officials at the lender and at Videocon Group, to assess whether there was any wrongdoing in lending practices. |
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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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