Yes Bank share price jumps 11% after reports of likely capital infusion by four PE players; what firm says
Posted on 16th July 2019 |
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| Shares of India’s major private sector lender Yes Bank surged on Tuesday after media reports indicated that four PE firms have shown interest to pick up a stake in the bank. Yes Bank shares jumped more than 10.8% to hit the day’s high at Rs 103.35. “US-based private equity investor made an offer to acquire worth $850 million stake in the bank, the term sheet offer for which was made over the weekend,” The Economic Times said in a report, citing sources as saying. The announcement regarding the stake buy is likely to come after thre lender Q1 earnings scheduled to be reported tomorrow, added the report further. The publication reported that the consortium leader may pick a 10% stake in the bank, while the rest of the three PE investors may together pick another 10% stake in Yes Bank. Meanwhile, Yes Bank has termed the development as speculation.”The Bank is not aware of the source, which resulted in the abovementioned news item published in “economictimes.indiatimes.com” dated July 15, 2019 and as a matter of policy, the Bank would not like to comment on such speculation,” Yes Bank said in the statement to the exchanges. The statment added that the Bank in ordinary course of its business continues to explore various means of raising capital/ funds through issuance of securities to diverse set of investors, in order to meet its business/ regulatory requirements subject to compliance with prescribed procedures and receipt of statutory I regulatory approvals. “We shall keep the stock exchanges informed about the disclosures required to be made under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015,” added the firm in its statement. Yes Bank is likely to report subdued earnings for the quarter ended June 30 on rising provisions amid deteriorating asset quality. The lender is scheduled to announce financial results tomorrow. Kotak Institutional Equities estimates a loss for the second straight quarter. The research firm has projected a loss of Rs 578.60 crore for Yes Bank against a net profit of Rs 1,260.40 crore in the corresponding quarter last year. In the previous quarter, Yes Bank reported a loss of Rs 1,506.60 crore. |
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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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