Yes Bank News on Monday said it has appointed Neeraj Dhawan as its Chief Risk Officer Yes Bank News Company News Article Yes Bank share /stock news, Company news and announcements, Yes Bank company latest article and updates. Stay Updated With Business News On BloombergQuint.
Yes Bank on Saturday said it has appointed Neeraj Dhawan as its Chief Risk Officer with immediate effect. The board of directors vide their resolution dated May 1, 2020, appointed Neeraj Dhawan as the chief risk officer of the bank for a period of three years, Yes Bank News said in a regulatory filing. He will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, wh
News On Yes Bank Stocks
Mumbai: Nifty futures on the Singapore Exchange-traded 89.50 points or 0.97 per cent higher at 9,311.50 in early trade on Monday. But they were still trading far lower than Thursday’s spot Nifty closing of 9,859.90. The domestic market was shut on Friday on account of Maharashtra Day.
Going into Monday’s session, Dalal Street has to adjust with the depression that set in across global markets, as equities took a turn for the worst on the first trading day of May after Yes Bank News US President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis. Most Asian and European markets tanked on Friday.
That said, here are a few stocks which are likely to see some action in Monday’s trade:
Cadila Healthcare: Drug firm Zydus Cadila said it has received tentative nod from the US health regulator to market generic Empagliflozin and Metformin Hydrochloride tablets, used for management of type-2 diabetes, in the American market.
Adani Ports and Special Economic Zone (APSEZ): The company said its promoters Gautam S Adani and Rajesh Adani on behalf of SB Adani Family Trust have released pledge on 5.66 crores Yes Bank News equity shares held in the company, comprising its 2.78 per cent holding.
Liquor stocks: Cheers accompanying the reopening of liquor stores could be short-lived as companies said existing stock at distributors will be exhausted after the initial round of stockpiling and replenishment could take a month or so.
Kalpataru Power Transmission: The company said it has terminated the deal with CLP India to sell its transmission project ALP for not fulfilling certain conditions. The deal was inked in July last year.
Bank of Baroda: The MSME sector is a key priority area and Bank of Baroda (BoB) is taking various steps, including extending a Rs 2,300 crore worth financial support, to help the sector hit hard by the coronavirus-induced lockdown, the bank’s Executive Director Vikramaditya Singh Khichi said.
Coal India: The company has shifted its focus to overburden removal — the process of removing the top soil and rock to expose coal seams in its open cast mines –as the power sector, a major consumer of the dry fuel, has witnessed almost 30 per cent drop in fuel consumption amid the lockdown, a company official said.
ITC: Fast moving consumer goods major ITC has ramped up personal care production to meet the demand for sanitisers. The company which retails Savlon range of sanitisers, has stepped up production at the facility in Himachal Pradesh to produce an additional 1.25 lakh litres.
Mahindra & Mahindra (M&M): M&M reported 83 percent decline in total tractor sales at 4,772 units in April with lockdown impacting sales. The company had sold a total of 28,552 units in the same month last year.
Hindustan Unilever (HUL): FMCG major Hindustan Unilever reported a 3.43 per cent year-on-year (YoY) drop in consolidated net profit at Rs 1,520 crore for March quarter, compared with Rs 1,574 crore in the same quarter last year. The profit figure missed ET NOW poll estimate of Rs 1,822 crore.
Tech Mahindra: IT major Tech Mahindra posted a 29 per cent year-on-year (YoY) fall in consolidated profit at Rs 803.90 crore for the quarter ended March 31. Analysts in an ET NOW poll had projected the number at Rs 1,012.40 crore.
AU Small Finance Bank: The bank reported a 3 per cent increase in net profit to Rs 122 crore for the last quarter of 2019-20. The bank had registered a net profit of Rs 118 crore in the January-March period of 2018-19.
ICICI Lombard: The company reported a 23.8 per cent jump in net profit in the March quarter at Rs 282 crore on lower motor claims even as it suffered losses in stock markets which plunged 30 per cent in the quarter.
Mahindra Logistics: The company said its board has approved raising up to Rs 250 crore through various means, including loans and debt issuances. The borrowing will be done in one or more tranches, the company said in a regulatory filing.
GE Power India: The company said it has resumed production at its Durgapur plant in West Bengal. GE Power had suspended operations temporarily at its facilities located at Durgapur, West Bengal, and Noida, Uttar Pradesh, due to the lockdown imposed by the government in March to contain COVID-19 pandemic.
Yes Bank News Latest May
New Delhi: A special CBI court has extended the custody of DHFL promoter Kapil Wadhawan and his brother Dheeraj till 1 May in connection with a corruption case against former Yes Bank News CEO Rana Kapoor in which both are accused, officials said on Wednesday.
The duo was arrested from Mahabaleshwar in Maharashtra on Sunday and sent to the CBI custody till 29 April by the court, they said.
On Wednesday, they were produced before the special CBI court, which extended the custody with the agency till 1 May, the officials said.
The Central Bureau of Investigation (CBI) is questioning both the accused about alleged property deals and business transactions between DHFL, RKW developers in which Dheeraj is the director, and Kapoor and his family members, they said.
Several deals between DHFL and Kapoor and his family members’ company are under the CBI’s scanner, the officials said.
According to the CBI, Kapoor, 62, allegedly entered into a criminal conspiracy with the Wadhawans for extending financial assistance to DHFL through Yes Bank News in return for substantial undue benefits to himself and his family members through companies held by them.
The agency has alleged that between April and June 2018, Yes Bank invested Rs 3,700 crore in short-term debentures of the tainted Dewan Housing Finance Corporation Ltd (DHFL).
In return, the Wadhawans allegedly paid kickbacks worth Rs 600 crore to Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd, a company owned by Kapoors’ wife and children, the CBI had said after registration of an FIR on 7 March.
“Kapil and Dheeraj Wadhawan were absconding since the beginning of the investigation and evaded joining probe,” Agency spokesperson R K Gaur said after their arrest on Sunday.
The agency had procured non-bailable warrants against them from the court on 17 March yet they did not appear before the CBI or the court, he had said.
They were held by the Satara police earlier this month while allegedly violating the prohibitory orders related to lockdown when a carcade carrying Wadhawan family members was stopped at Panchgani in Maharashtra.
They were kept at a quarantine facility in Mahabaleshwar by the district administration before the CBI took them into custody on 26 April, he had said.
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CRISIL’s rating centrally factors in the extraordinary systemic support from key stakeholders. All the key stakeholders, including the Ministry of Finance, RBI, and SBI have, over the past few days, reiterated in various forums that depositors’ money in Yes Bank is safe and in case of any requirement, they will continue to ensure the safety of deposits through various measures,” the rating agency said. Crisil’s strong rating for Yes Bank’s certificate of deposits stems from the expectation that SBI will invest in the scheme. Rajnish Kumar, Chairman SBI, announced earlier in the week that the shares allotted to SBI will not be sold by the bank for the entire three-year lock-in period.
Yes Bank has witnessed a steady outflow of deposits in the past few quarters given the capital raising challenges faced by the bank. Between December 31, 2019, and March 5, 2020, the deposit base shrunk by around Rs 28,000 crore. Since March 31, 2018, the deposit base has declined by over Rs 63,000 crore, Crisil noted.
Asset quality of the lender still remains an issue, with gross non-performing assets (NPA) shooting up to 18.9 per cent in the third quarter. However, Prashant Kumar the soon-to-be Managing Director and CEO of the bank claimed that depositors were confident the bank would soon be back on its feet, adding that just before the moratorium was lifted there was more cash inflow than outflow from customers.
BENGALURU (Reuters) – Yes Bank Ltd said on Thursday it was looking to raise up to 50 billion rupees ($665.88 million) in an effort to shore up its capital base after a government-led rescue of the private sector lender.
India earlier this month approved a rescue plan, which saw State Bank of India, the country’s largest public lender, take a 49% stake in Yes Bank News after the central bank placed the lender under a moratorium on March 5.
The bank resumed normal operations on May 04.
($1 = 75.0890 Indian rupees)
What is The wrong with Yes Bank?
The central bank said the financial position of Yes Bank has undergone a steady decline largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits.
Today Good News for Yes Bank?
Yes Bank Crisis: Read Yes Bank Latest News, also Check Yes Bank Share Price at ZeeBiz. … Dr Reddy’s, Godrej Properties, Yes Bank and other banking stocks are expected to remain in focus today. … Good news for Yes Bank
Yes Bank Safe in 2020?
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