CPPIB gets RBI nod to hike stake in Kotak Mahindra Bank
Posted on 31st August 2016 |
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| Canada Pension Plan Investment Board (CPPIB) that manages pension fund assets has recieved the Reserve Bank of India’s approval to increase its stake beyond five per cent to 10 per cent in Kotak Mahindra Bank. “Kotak Mahindra Bank has informed the exchange that RBI has informed the bank that it has granted approval to CPPIB for acquiring shares in excess of five per cent and below 10 of the paid up capital of the bank,” said the bank in a notice to the exchanges. At the end of June 2016, CPPIB, the largest foreign portfolio investors, had 4.89 per cent stake in Kotak Mahindra Bank. Apart from CPPIB, the other FPIs include Capital World Growth and Income Fund, SmallCap World Fund inc, New World Fund Inc, National Westminister Bank PLC and Europacific Growth Fund. CPPIB had also raised its stake in March by buying shares from Japan-based Sumitomo Mitsui Banking Corporation. At the end of December 2015, CPPIB had a shareholding of 3.91 per cent in the bank. Earlier, Kotak Mahindra Group had also tied up with CPPIB to launch a $525 million fund to invest in the stressed asset market in India. CPPIB had also raised its stake in March by buying shares from Japan-based Sumitomo Mitsui Banking Corporation. At the end of December 2015, CPPIB had a shareholding of 3.91 per cent in the bank. Earlier, Kotak Mahindra Group had also tied up with CPPIB to launch a $525 million fund to invest in the stressed asset market in India. |
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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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