Axis Bank gains on fund raising via infrastructure bond
Posted on 5th December 2014 |
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| Axis Bank, India’s third largest private-sector lender has gained over 1% at Rs 505 after the bank on Tuesday said that it has raised Rs 5,705 crore by selling infrastructure bonds. The 10-year senior unsecured redeemable non-convertible debentures (NCDs) were priced at 8.85 per cent a year, payable annually. The NCDs have been rated AAA by CRISIL and ICRA. The bonds will be allotted to eligible investors on Friday. The bank plans to use this money to strengthen its long-term resources for financing sectors like infrastructure and affordable housing. “We are pleased to have received a very good response for the infrastructure bonds from domestic as well as foreign investors. This issue was launched immediately after our recent international bond offering and generated very good response from pension, provident funds, mutual funds, multilateral financial institutions, foreign financial institutions and insurance companies,” Sidharth Rath, president (treasury, business banking and capital markets), Axis Bank, said.The stock opened at Rs 501 and touched a high of Rs 506 on the BSE. At 10:55AM, over 10 lakh shares were traded on both the stock exchanges. |
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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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