Axis Bank hits lifetime high; zooms 80% in 2014
Posted on 7th November 2014 |
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| Shares of Axis Bank has moved higher by nearly 3% to Rs 472, also its record high on the National Stock Exchange (NSE). Shares of the private sector lender outperformed the market by surging 82% from Rs 260 so far in current calendar year 2014, compared to 32% rise in CNX Nifty. The banking index Bank Nifty gained 52% during the same period. Since October 17, the stock rallied 17% after reported a good set of numbers for 2QFY2015 with an earnings growth of 18.2% yoy at Rs 1,611 crore, mainly on account of healthy growth in net interest income. Management indicated loan book growth to above industry growth as the bank would continue to focus on retail book followed by corporate and SME. Going forward, the bank will continue to focus on retail loans and will change its retail loans mix to a higher return business. With improvement in the economic environment, it is well positioned to grow by at least a few percentage points higher than the average industry growth rate, said Vaibhav Agrawal and Umesh Matkar analysts at Angel Broking in a report dated October 20. Analysts maintain ‘Buy’ rating on the stock with a target price of Rs 501. |
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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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