Kotak Mahindra Bank gains on FIPB nod to increase foreign investment limit
Posted on 6th July 2015 |
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| Shares of Kotak Mahindra Bank were trading higher by 2% at Rs 1,458 on the NSE early this morning after the Foreign Investment Promotion Board (FIPB) on Friday cleared the bank’s proposal to raise foreign investment limit in the lender to 55%. The CNX Nifty was down 0.78% at 8,419 points. Kotak Mahindra Bank had approached FIPB after the Reserve Bank of India barred overseas investments in it as foreign shareholding hit the permissible threshold following the merger with ING Vysya Bank. Investments from foreign institutional investors (FIIs), foreign portfolio investors (FPIs) and foreign banks had reached 48.55% in the merged entity. Meanwhile, Kotak Mahindra Bank has fixed July 09, 2015 as record date for the purpose of allotment of bonus shares. The stock will turn ex-bonus on July 8. The board of directors of the bank at their meeting held on May 5, 2015 had approved issue of bonus shares in the ratio of 1:1 i.e. one bonus shares for every one share held in the bank. The stock opened at Rs 1,440 and touched a high of Rs 1,460 on the NSE. A combined about 210,000 shares changed hands on the counter on the NSE and BSE till 0921 hours. |
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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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