Yes Bank shares tumble 7% on fraudulent transactions at CG Power and Industrial Solutions
Posted on 20th August 2019 |
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| Shares of Yes Bank plunged more than 7 per cent after the risk and audit committee of CG Power and Industrial Solutions in which the private lender owns more than 12.79 per cent stake said there were some unauthorized transactions by certain employees of the company. CG Power also received a letter from a particular financing company regarding a certain interest payment failure which the Operations Committee of the company was unable to trace or ascertain from the financials of the company, according to the exchange filing. Today, on BSE, the shares of Yes Bank fell more than 7 per cent to 70.55 in the intra-day trading against the previous close of Rs 76.70 per share. While the shares of CG Power plunged to their 52-week low to Rs 14.75 per share as against the last close of Rs 18.40 per share. Recently Yes Bank had raised Rs 1,930.46 crores via qualified institutional placement (QIP) for business expansion. The QIP had opened on August 9 and continued till August 14, according to the exchange filing. The eligible qualified institutional buyers (QIBs) were allotted 23.1 crore shares of the face value of Rs 2 each at Rs Rs 83.55 per share, according to the exchange filing. The issue saw a strong response from foreign as well as from domestic QIBs, the private lender said in a filing. In the first quarter of the running fiscal Yes Bank saw a fall in its net profit by 90.97 per cent on account of lower other income and higher provisioning. The private bank reported a net profit Rs 113.76 crore for the first quarter ended 30 June as against Rs 1,260.36 crore in the year-ago period. Other income, which includes core fee income, plunged 24.88 per cent to Rs 1,272.66 crore in the three months from Rs 1,694.14 crore a year ago. |
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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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