Kotak Mahindra Bank hits lifetime high
Posted on 18th June 2014 |
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| Kotak Mahindra Bank has moved higher by nearly 4% to Rs 972, also its record high on NSE, after the private sector lender proposes to increase the ceiling limit of overseas investment to 40%. Kotak Mahindra Bank in its notice to shareholders for the upcoming annual general meeting (AGM) on July 16 has sought members’ approval to pass a resolution to this effect. The bank said it has proposed to increase the limit on total holdings of foreign institutional investor (FII) and sub-accounts of FIIs, foreign portfolio investor (FPI) and qualified foreign investor (QFI) to 40% of the paid-up equity capital of the bank, subject to approval of the Reserve Bank of India (RBI) and such other regulatory approvals as may be necessary. The will help the bank comply with the RBI diktat of reducing the promoter holding. In May this year, the RBI had directed Kotak Mahindra Bank to reduce its promoter shareholding to 40% by September 30 this year and then to 30% by December 31, 2016, the private lender informed the stock exchanges. The Current promoter shareholding is 43.58%. The stock opened at Rs 945 and has seen a combined 548,367 shares changing hands on the counter so far on NSE and BSE. |
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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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