YES Bank, DHFL, Goa Carbon, Philips Carbon gain over 40% from 52-week lows
Posted on 10th October 2018 |
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Shares of YES Bank, Dewan Housing Finance Corporation, Goa Carbon, Philips Carbon Black and Infibeam Avenues have rallied more than 40% from their respective 52-week lows.
YES Bank was up 5% to Rs 237 in intra-day trade, extending its past two days 9% gain on the BSE, after the board of private sector lender inducted TS Vijayan, former chairman of Insurance Regulatory and Development Authority of India (IRDAI) and Life Insurance Corporation of India (LIC), and OP Bhatt, former CMD of State Bank of India (SBI), as external experts in the committee. The stock rallied 43% from its 52-week low of Rs 166 touched on September 28, 2018.
YES Bank on Friday, October 5 said it has invited proposals from global leadership advisory firms and will finalise the company in the committee’s first meeting, which is scheduled to be held on October 11.
Meanwhile, according to a PTI report, two warring promoter families of YES Bank are believed to be in talks to settle their differences and a meeting of representatives from both sides is likely on Wednesday.
YES Bank had fallen 59% from its all-time high level of Rs 404 on August 20, 2018, within a span of less than one month, after the Reserve Bank of India (RBI) curtailed the term of lender's founding CEO Rana Kapoor and asked the bank to look for his replacement by January 2019.
DHFL surged 20% to Rs 291, extending its previous day’s 8% gain after a media report suggested that the State Bank of India’s (SBI) loan portfolio buys will provide liquidity to NBFCs. The stock rallied 48% from its 52-week low of Rs 196 touched on Tuesday, October 9. It tanked 72% from its record high of Rs 690 on September 3, due to liquidity crunch triggered by a series of debt repayment defaults by financial conglomerate IL&FS and its subsidiaries.
Goa Carbon soared 19% to Rs 659, zooming 65% from its yesterday’s 52-week low price of Rs 400 on the BSE. Philips Carbon Black up 16% to Rs 221, surging 41% from its 52-week low value of Rs 157 touched on Monday, October 8. |
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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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