YES Bank slips 4% after RBI rejects request to extend Rana Kapoor's term
Posted on 19th October 2018 |
.jpg) |
| Shares of YES Bank dropped as much as 4.9 per cent in the opening deals on Friday after the Reserve Bank of India (RBI) on Wednesday once again rejected the lender’s request for extending the term of MD & CEO Rana Kapoor, and reaffirmed the February deadline for finding his successor. The RBI said that a successor to Kapoor should be appointed by February 1, 2019. Kapoor’s tenure was cut short by an order issued by the RBI recently. Kapoor will be in office till January 31, 2019. Business Standard had earlier reported that the bank plans to submit MD & CEO candidates by December 15. “The bank's appointed committee is targeting to complete this recruitment process latest by mid-December 2018,” confirmed the bank’s filing on Wednesday. The bank has hired US-based advisory firm Korn Ferry to help with the selection process. A committee has been set up with three internal and two external members to search for suitable candidates. Korn Ferry will assist the committee in making recommendations to the board within the stipulated timeline, said the bank. Shares of the bank have been under pressure ever since the RBI trimmed Rana Kapoor's term as Yes Bank CEO in September till 31 January 2019. In the past one month, the stock has fallen 37 per cent as of September 17. At 09:36 am, shares of the company were trading at Rs 223 apiece, down 3.78 per cent on BSE. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
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. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
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. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
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). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
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. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
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. |
|
|
|
|
| Be the first person to write a business review for YES Bank slips 4% after RBI rejects request to extend Rana Kapoor's term |
|
|
|
