Kotak Mahindra Bank outpaces ICICI Bank in market cap, shares up
Posted on 4th May 2016 |
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| Rising spree of Kotak Mahindra Bank shares helped the lender to surpass ICICI Bank in terms of market capitalisation on Tuesday. The share price of Kotak Mahindra Bank surged over 6 per cent in the past two months since the central bank removed it from foreign investment ban list. On the other hand, ICICI Bank shares gained 0.38 per cent during the same period till May 3. Market cap of Kotak Mahindra Bank and ICICI Bank were at Rs 1,29,963.80 crore and Rs 1,28,702.25 crore, respectively. Market cap is the total market value of the shares outstanding of a publicly traded company; it is equal to the share price times the number of shares outstanding. On Wednesday, Kotak Mahindra Bank was trading 1.28 per cent up at Rs 717.50 (at 11.17 am). On the other hand, ICICI Bank was trading 1.54 per cent down at Rs 217.95. Investec Securities said last month Kotak remained their top pick, calling it well positioned to deliver consistent return-on-assets improvement starting FY2018. Meanwhile, ICICI Bank’s shares have fallen 8 per cent since the private sector lender reported a decade-low quarterly profit on April 29. |
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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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