0

0

0

0

0

0

0

0

0

This article is more than 3 year old.

Closing Bell: Sensex, Nifty end higher, HDFC twins, Kotak Mahindra, Axis, ICICI banks support, Yes Bank plunges 7%, Jet Airways jumps 30%

Mini

Indian shares ended higher on Thursday led by private sector banks like HDFC Bank, Kotak Mahindra Bank, Axis Bank, ICICI Bank. The Sensex ended 118 points higher, or 0.34 percent, at 35,560, while the Nifty settled above the crucial 10,600 mark, at 10,617, up by 40 points, or 0.38 percent. Broader markets outperformed with the Nifty MidCap rising nearly half a percent, while the BSE MidCap surged nearly 0.75 percent. Here are the main highlights from the stock markets today:

Closing Bell: Sensex, Nifty end higher, HDFC twins, Kotak Mahindra, Axis, ICICI banks support, Yes Bank plunges 7%, Jet Airways jumps 30%
  • Sensex heatmap at close: Adani Ports top gainer, Yes Bank biggest laggard##Sensex heatmap at close: Adani Ports top gainer, Yes Bank biggest laggard

    Closing Bell: Sensex, Nifty end higher, HDFC twins, Kotak Mahindra, Axis, ICICI banks support, Yes Bank plunges 7%, Jet Airways jumps 30%
  • Closing Bell: Sensex, Nifty end higher, midcaps outperform##Closing Bell: Sensex, Nifty end higher, midcaps outperform

    The Sensex ended 118 points higher, or 0.34 percent, at 35,560, while the Nifty settled above the crucial 10,600 mark, at 10,617, up by 40 points, or 0.38 percent. Broader markets outperformed with the Nifty MidCap rising nearly half a percent, while the BSE MidCap surged nearly 0.75 percent. Adani Ports, Titan, Eicher Motors, Kotak Mahindra, Hero MotoCorp, Tata Motors and Axis Bank were among major index gainers, surging by up to 4.28 percent. Grasim, Yes Bank, Indiabulls Housing Finance, NTPC, Bharti Infratel, ONCG, Sun Pharma and TCS were major laggards, falling by up to 8 percent.

  • Indian banks report lowest net loss in last 4 quarters##Indian banks report lowest net loss in last 4 quarters


    CNBC-TV18 had mentioned in Q1FY19 result analysis that the worst is over for the Indian banking sector in terms of pain in earnings and slippages in Q4FY18. The second quarter net loss of Rs 3,731 crore for the banking sector is the lowest in the last four quarters. The losses are down for more than 90 percent from the Q4FY18 numbers. The public sector undertaking (PSU) banks reported a decline of 77 percent in net loss, while 45 percent growth in profit of private banks from Q4FY18 to Q2FY19. Read more

  • Most Asia indices end up on Brexit deal, US-China talks##Most Asia indices end up on Brexit deal, US-China talks

    Most benchmark Asian share indices ended higher today on reports that the European Union has called a summit later this month to sign off a new proposed deal for UK's exit from the bloc, and on news that US-China trade talks have resumed. Hong Kong's Hang Seng and China's Shanghai Composite were the major gainers in the region due to hope of easing trade tensions between the US and China. Japan's Nikkei 225 index was the sole loser, ending with losses of 0.2 percent.

  • Market update: Sensex, Nifty sustain gains, midcaps outperform##Market update: Sensex, Nifty sustain gains, midcaps outperform


    The Sensex traded at 35,207, higher by 165 points, or 0.47 percent, while the Nifty gained 50 points, or 0.48 percent, to 10,625 at 3.11 pm. Midcaps outperformed with the Nifty MidCap surging by 0.60 percent, while the BSE MidCap surged by 0.82 percent. 

  • Jet Airways jumps 17%, IndiGo, SpiceJet trade under pressure##Jet Airways jumps 17%, IndiGo, SpiceJet trade under pressure

    Shares of Jet Airways jumped more than 17 percent to hit an intra-day high of Rs 302.40. At 2.45 pm, the stock traded at Rs 298.35, higher by 15.75 percent on the BSE. The stock has been gaining for the last 3 days and has risen nearly 24 percent during the period. For the year, however, the stock has declined by nearly 64 percent. The stock traded higher than its 20 day, 50 day and 100 day moving average, but lower than its 200 day moving average of Rs 440.42. IndiGo, owned and operated by InterGlobe Aviation ltd, shares traded mildly weak, down by 0.44 percent, at Rs 1044 at 2.52 pm. The BSE-listed SpiceJet shares slipped 1.61 percent to trade at Rs 82.35 at 2.51 pm.

  • Tata Power-backed Resurgent buys 75% stake in Prayagraj Power##Tata Power-backed Resurgent buys 75% stake in Prayagraj Power


    Tata Power and Resurgent have signed a share purchase agreement to buy a 75 percent stake in Prayagraj Power. Resurgent Power is backed by Tata Power Co. Ltd and ICICI Venture Funds Management Co. Praveer Sinha, MD & CEO of Tata Power spoke to CNBC-TV18 about the agreement.

    “The transaction has been closed yesterday whereby we have signed the share purchase agreement with SBI and the other 17 lenders and based on that 75.01 percent stake has been taken over by Renascent which is a subsidiary of Resurgent Power. That transaction will give us a foothold in Uttar Pradesh (UP) to run this power plant,” Sinha said. Read more

  • Yes Bank sinks; chairman Ashok Chawla's departure heightens concerns##Yes Bank sinks; chairman Ashok Chawla's departure heightens concerns

    Yes Bank Ltd shares fell sharply on Thursday, a day after non-executive independent chairman Ashok Chawla resigned, further fuelling the uncertainty over the management of the country's fifth largest private-sector lender. Yes Bank shares fell as much as 9.1 percent to Rs 202.25, in their biggest single-day fall since October 26. 

  • Motherson Sumi continues downtrend post Q2 results##Motherson Sumi continues downtrend post Q2 results

    Shares of Motherson Sumi fell further on Thursday after brokerages cut their earnings estimates and target prices post weak earnings on Wednesday. The auto ancillary major's stock hit an intra-day low of Rs 148 today, falling by 3.65 percent. The decline comes after Wednesday's 7 percent fall as the market reacted negatively to Motherson Sumi's July-September quarter results. Brokerage firm Citi maintains "sell" call on the stock, cutting its target price on the stock to Rs 135 from Rs 173 per share on weak earnings trajectory. Nomura has retained "buy" call but at a revised target price of Rs 197 from Rs 249 per share. Motherson Sumi shares were the biggest drag on the Nifty Auto index wherein 11 stocks advanced against 5 declining.

  • ICICI Bank hits 52-week high, Sensex, Nifty extend gains##ICICI Bank hits 52-week high, Sensex, Nifty extend gains

    Shares of ICICI Bank hit a 52-week high of Rs 371.20 in trade today, surging 1.20 percent. Shares traded at Rs 371, up by 1.20 percent on the NSE at 1.03 pm. The Nifty rose nearly 50 points, or 0.47 percent, to trade at 10,626. The Sensex also jumped 221 points, or 0.63 percent, to trade at 35,363. Midcaps continue to under perform with the Nifty MidCap higher by 0.35 percent. 

  • Auto companies gain on hope of robust growth in October-March sales##Auto companies gain on hope of robust growth in October-March sales

    Shares of automobile companies gained as analysts expect growth in passenger vehicle and two-wheeler segment to improve in October-March. Shares of Bajaj Auto, Eicher Motors, Hero MotoCorp, Maruti Suzuki India and Tata Motors rose 0.3 percent -2.4 percent.

  • Coffee Day Enterprises slip 6% post Q2 results, Sensex, Nifty trade higher##Coffee Day Enterprises slip 6% post Q2 results, Sensex, Nifty trade higher

    Shares of Coffee Day Enterprises slipped 6 percent after company reported poor set of numbers for the quarter ended September 2018. The company's consolidated Q2FY19 net profit was down 54.7 percent at Rs 21.2 crore against Rs 46.8 crore in the same quarter last fiscal. At 11.40 am, shares traded at Rs 278.35, down by 5.5 percent on the NSE. The Nifty traded higher by 46 points, or 0.44 percent, at 10,622, while the Sensex surged 162 points, or 0.46 percent, to trade at 35,303.

  • PC Jeweller tanks 19% on dismal Q2 earnings, Sensex, Nifty edge up##PC Jeweller tanks 19% on dismal Q2 earnings, Sensex, Nifty edge up

    Shares of PC Jeweller fell over 19 percent to hit a low of Rs 69.90 after the company reported a 38 percent year-on-year fall in net profit for the September quarter to Rs 937.2 million. The company's revenue also fell by 38 percent to Rs 16.35 billion and its operating margin expanded to 12.59 percent in July-September from 10.72 percent a year ago. So far today, over 14 million shares of the company have changed hands on the NSE. At 11.03 am, shares of the company traded 8.44 percent lower at Rs 79.20. So far this year, the stock has fallen nearly 83 percent. Meanwhile, the Nifty traded at 10,598, up by 22 points, or 0.20 percent, while the Sensex was at 35,224, higher by 82 points, or 0.23 percent. 

  • IT companies gain on renewed buying by some mutual funds##IT companies gain on renewed buying by some mutual funds

    Shares of information technology companies rose today as their recent correction prompted some mutual funds to increase their exposure towards the sector, said a mutual fund dealer. The Nifty IT index had corrected 4 percent in November as the rupee appreciated against the US dollar and concerns slowing corporate earnings in the US may hit client spending on information technology services.   Analysts said valuations of some information technology companies had come off their peak making them attractive for investors. Information technology companies are expected to report strong earnings in the remainder of 2018-19 (April-March). At 10.15 am, the Nifty IT index was up 0.5 percent at 14,406.80 points. (Cogencis)

  • Vodafone Idea plunges 6% after weak Q2 numbers, Sensex, Nifty flat##Vodafone Idea plunges 6% after weak Q2 numbers, Sensex, Nifty flat

    Shares of Vodafone Idea plunged 6.28 percent to trade at Rs 38.80 on the NSE at 10.14 am. The stock opened lower at Rs 40.15, down from its previous close of Rs 41.40. Vodafone Idea Ltd reported a second-quarter loss on Wednesday and said it is looking to raise about Rs 250 billion ($3.5 billion). The company said its board is evaluating ways to raise the capital in which promoters Vodafone Group will chip in Rs 110 billion and Aditya Birla Group Rs 72.5 billion. This is the first quarterly result since Vodafone Plc merged its Indian operations with Idea Cellular in August, creating the country’s largest telecom operator by subscribers and revenue. The company’s after-tax loss was Rs 49.74 billion in the second quarter ended September 30, which included a one-time charge of Rs 5.66 billion, mainly due to integration and merger related costs. Revenue from operations was Rs 76.64 billions. The results included numbers for Idea Cellular up to August 30 and Vodafone Idea from August 31 to September 30, and were not comparable to earlier periods, the company said in a statement.

    Meanwhile, the Sensex traded at 35,163, up by 21 points, or 0.06 percent, while the Nifty was at 10,577, up by 1 points at 10.16 am. 

  • Ujjivan shares trade at Rs 222, up by 2%##Ujjivan shares trade at Rs 222, up by 2%

  • Opening Bell: Sensex, Nifty trade flat with a positive bias, auto shares gain##Opening Bell: Sensex, Nifty trade flat with a positive bias, auto shares gain

    The Sensex surged 71 points, or 0.20 percent, to trade at 35,213, while the Nifty edged up by 21 points, or 0.20 percent, to trade a tad below the 10,600 mark, at 10,597. The MidCap index moved higher by 0.16 percent, while the Nifty Bank surged 0.20 percent. Among top index gainers, Hero MotoCorp, HCL Technologies, Titan Company, Eicher Motors, Tech Mahindra, L&T, Infosys, Wipro and Tata Motors, rose by up to 2 percent. Grasim shares dipped 7 percent, while Yes Bank fell 5 percent. BPCL, Ultra Tech Cement, Gail, M&M, Tata Steel, IndusInd Bank and ONGC, dipped by up to 1.6 percent. Yes Bank shares declined as chairman Ashok Chawla resigned as non-executive chairman.

  • Here’s how Nomura, Morgan Stanley rate several stocks##Here’s how Nomura, Morgan Stanley rate several stocks

    Nomura on Motherson Sumi:
    Q2 below estimates; at a cyclical low. 
    BUY call, target cut to Rs 197 from Rs 249/share.
    Rising content per car to drive India business; ramp-up of new plants key.
    Lower EBITDA estimate by 9-11 percent For FY19-21.
    FY19-21 EPS Estimate Cut By 15 percent.
    Expect domestic margin to bounce back to 18.6 percent.
    Valuation attractive given 22 percent EPS CAGR over FY18-21.

    Nomura on NBCC:
    Execution improves, margin disappoints.
    NEUTRAL call, target at Rs 82/share.
    Pick-up in core PMC business gives comfort on 30-35 percent revenue growth guidance. 
    Softening core EBITDA margin a concern.
    Overall beat at the PAT level is driven by higher other income.

    Morgan Stanley on M&M:
    OVERWEIGHT call, target at Rs 1,063/share.
    New launch costs hit margin.
    S101 launch to drive growth.
    2019 should be solid off a low base.

    Morgan Stanley on Future Retail:
    OVERWEIGHT call, target at Rs 745/share.
    Operating performance was in line with our estimate.
    Earnings growth 4 percent below estimate on higher interest costs.
    Key positive is strong big bazaar SSSG for Q2.
    Management sees strong festive season sales. 

    Morgan Stanley on Apollo Hospitals:
    Q2 beat driven by volumes
    OVERWEIGHT call, target at Rs 1,544/share.
    Sweating its hospital assets to drive up EBITDA growth.
    Growth in SAP and narrowing of losses should help re-rate the stock.

    Nomura on M&M:
    Q2 in-line; rural outlook remains positive.
    New launches to drive further growth.
    BUY call, target cut to Rs 982 from Rs 1,071/share.
    Valuations at 9.6x FY20e look attractive.

    Morgan Stanley on UltraTech:
    NCLAT approves resolution plan for Binani Cement.
    OVERWEIGHT call, target at Rs 4,954/share.
    Binani deal is earnings-dilutive in the near term.
    Operational efficiency and expansion potential medium-term positives.
    Implied Binani deal value is $173/tonne.
    Net debt will rise to $3.3 billion and net debt/EBITDA to 2.4x.

  • Rupee opens at 72.06 against the US dollar##Rupee opens at 72.06 against the US dollar

    The Indian rupee opened at 72.06 against the US dollar on Thursday. On Wednesday, the home currency closed at 72.30 against the greenback. The Sensex settled at 35,146, up by 1.26 points at 9.08 am in the pre-open trade, while the Nifty marginally down by 2 points, or 0.02 percent, at 10,580.

  • Here’s how Credit Suisse rates Apollo Hospitals, Glenmark, M&M, Page Industries##Here’s how Credit Suisse rates Apollo Hospitals, Glenmark, M&M, Page Industries

    Apollo Hospitals:
    OUTPERFORM call, target at Rs 1,300/share.
    Q2 had an all-round improvement.
    Navi Mumbai hospital turned profitable.
    Margin for existing hospitals increased.
    FY19 EPS Estimate increased by 8 percent to factor Q2 earnings.

    Glenmark: 
    NEUTRAL rating, target at Rs 600/share.
    Debt reduction in H1FY19 lower than expected.
    Base business cash flow generation nullified by capex, dividend and tax payment.
    Next catalyst for the stock is the deal on API.
    US generic revenue guidance of single digit growth lower than expected.

    M&M: 
    Slightly weaker margin in autos compensated by tractors.
    Festive season was strong on tractors. 
    Maintained its 12-14 percent tractor growth guidance for FY19.
    Auto margin down 300 bps on account of commodity costs. 
    Estimates cut by 1 percent and multiple by 10 percent.
    OUTPERFORM call, target cut to Rs 1,030 from Rs 1,100/share.

    Page Industries:
    Revenue up 10 percent, weakest growth in over a decade.
    EBITDA and PAT also grew 10 percent; significantly below estimates.
    Volumes flat YoY and the entire growth was price and mix led.
    Male innerwear saw 3 percent volume decline YoY
    Slowdown in male innerwear is a serious concern. 
    Cuts estimates by 5-12 percent over FY19-21.
    Maintains UNDERPERFORM, target cut to Rs 22,000 from Rs 26,000/share.
    Downside risk to earnings if recovery in festive season does not plan out.

  • Here's a list of stocks to watch out for today##Here's a list of stocks to watch out for today

  • Here’s how Deutsche Bank rates M&M, Motherson Sumi, Thermax, NHPC##Here’s how Deutsche Bank rates M&M, Motherson Sumi, Thermax, NHPC

    M&M:
    Management moderates outlook for SUVs, positive on tractors.
    BUY call, target cut to Rs 945 from Rs 990/share.
    Cut SUV forecast by 6-7 percent to factor the moderation. 
    Cuts FY19-21 EPS forecast by 4 percent.

    Motherson Sumi:
    Profitability continues to lag expectations.
    HOLD rating, target cut to Rs 170 from Rs 176/share.
    Forecast FY18-21 EBITDA and EPS CAGR of 15 percent and 19 percent.
    Single biggest potential catalyst would be new acquisitions.

    Thermax:
    BUY rating, target at Rs 1,320/share.
    Stock valuation attractive on the correction post weak results. 
    PE of 26x for FY20e justified given 38 percent EPS CAGR forecast. 
    Working capital has significantly improved as company tightens creditors.

    NHPC:
    BUY rating, target at Rs 34/share.
    26 percent upside as the model looks attractive.
    Regulations remain an overhang.
    Expect a neutral to favourable outcome for hydro.

    Vodafone Idea:
    BUY rating, target at Rs 100/share.
    Financials are a tad weak, fund infusion by promoters is a positive.
    Pro forma revenue and EBITDA 3 percent and 25 percent below estimates.

    Grasim:
    BUY rating, target cut to Rs 1,250 from Rs 1,450/share.
    Core business outlook remains strong.
    VSF and chemical margins are currently at the upper end of the cycle.
    Domestic demand growth should support 10 percent CAGR in EBITDA in FY19-21.
    Concerns around equity infusion remains a key overhang.

  • Here’s how Citi rates Motherson Sumi, M&M, Vodafone Idea, Apollo Hospitals##Here’s how Citi rates Motherson Sumi, M&M, Vodafone Idea, Apollo Hospitals

    Motherson Sumi: 
    Maintains SELL call, target cut to Rs 135 from Rs 173/share.
    Earnings trajectory remains weak. 
    Present consumer RoCE in high teens, management’s 40 percent target appears difficult. 
    Value accretive inorganic initiatives and better margin at SMRPBV upside risks.

    M&M:
    BUY call, target at Rs 1,050/share.
    Weaker auto revenue offset by stronger than expected tractor revenue.
    Management sees tractor volume to grow at closer to 12 percent YoY vs 14 percent earlier.
    Change in axle load norms is resulting in down-shifting of mix.

    Vodafone Idea: 
    Equity raise should allay concerns; Q2 operationally weak.
    Investment amounts to dilution of 70 percent at current valuations. 
    Net debt at Rs 1.1 lakh crore; company could reduce this by Rs 33,000 crore. 
    Realisation of opex/capex synergy benefits critical. 

    Apollo Hospitals: 
    Raise target price to Rs 1,640. 
    Third straight quarter of steady growth and margin gains.
    Expect FY19-20 to see full impact of rising occupancy and cost control 
    BUY call, target at Rs 1,640/share.

  • These are the stocks making the biggest buzz premarket##These are the stocks making the biggest buzz premarket


    Alkem Lab: US FDA had conducted an inspection at the company's Bioequivalence facility located at Taloja, Maharashtra from November 8, 2018 to November 14, 2018. No Form 483 was issued.
     
    Coffee Day: The board discussed the potential restructuring of the company's business to segregate the coffee business and its subsidiaries from their non-coffee businesses.
     
    Sundaram finance: The company and Ageas Insurance announce Non-Life Insurance JV SFL and associates to divest 40 percent in Royal Sundaram.
     
    Future Retail: CARE rating assigned on fixed deposit programme to CARE AA- Stable.
     
    NHPC: Board approved buyback of shares at Rs 28 per share for 21 crore shares. The record date is November 30.
     
    RPP Infra: The company bags order from Tamilnadu Water Supply & Drainage Board, Coimbatore for worth of Rs 155.8 crore.
     
    HeroMoto Corp: The auto major commences national retail sales of Destini 125 – the bold and premium 125cc scooter.
     
    Tata Power: Signed share purchase agreement to buy 75 percent stake in Prayagraj Power Generation Co. ltd.
     
    Dhanuka Agritech: Board approved buyback of shares.
     
    Yes bank: The lender acquired 29,28,504 equity shares, constituting 12.99 percent of Valecha Engineering Ltd, pursuant to invocation of pledge on the said equity shares. Also, non-executive (independent) chairman Ashok Chawla resigned from the Yes Bank’s board with immediate effect.
     
    Oil India: Board meeting on November 19 to consider buyback of shares and also issue of debt securities in domestic and overseas markets.

  • Top stocks to watch out for on November 15: Yes Bank, Vodafone Idea, Eicher Motors##Top stocks to watch out for on November 15: Yes Bank, Vodafone Idea, Eicher Motors


    Yes Bank: Ashok Chawla on Wednesday resigned as non-executive chairman of Yes Bank, the private sector bank said.

    Eicher Motors: The company's subsidiary Royal Enfield on Wednesday launched two new motorcycle models, Interceptor 650 and the Continental GT 650, priced at Rs 2.6 lakhs and Rs 2.65 lakh (both ex-showroom), respectively.

    Vodafone Idea: Vodafone Idea Ltd reported a second-quarter loss on Wednesday, in its first quarterly result since Vodafone Plc merged its Indian operations with Idea Cellular in August.

    BEML: Bharat Earth Movers Limited (BEML) is likely to open a coach-manufacturing unit in Odisha.

    Check more hot stocks today.

  • 10 things you need to know before the opening bell##10 things you need to know before the opening bell


    Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent. The index had declined 0.4 percent the previous day as plunging oil prices heightened anxiety about the outlook for broad demand and global growth. Australian stocks rose 0.15 percent while Japan's Nikkei shed 0.5 percent.

    Wall Street: The Dow Jones Industrial Average fell 205.99 points, or 0.81 percent, to 25,080.5, the S&P 500 lost 20.6 points, or 0.76 percent, to 2,701.58 and the Nasdaq Composite dropped 64.48 points, or 0.9 percent, to 7,136.39.

    Crude Oil Prices: US crude futures were down 33 cents, or 0.6 percent, at $55.92 a barrel by 0004 GMT. The contract rose 1 percent on Wednesday, after sliding for 12 straight sessions and touching its lowest since November 2017. Brent crude was yet to trade. It settled up 65 cents, or 1 percent, at $66.12 a barrel, after hitting a session-high of $67.63, having also slumped in recent weeks.

    Check out more market opening cues.

  • US stocks ended in losses, oil halts its longest losing streak among major global cues##US stocks ended in losses, oil halts its longest losing streak among major global cues


    Markets: A combination of Brexit developments and positioning-influenced price action across asset classes. The US CPI report turned out to be almost a non-event. DXY failed another test the 97.60/70 region. EURUSD was the main beneficiary of USD weakness. Oil prices halted its longest losing streak on record; WTI is above $56. Stocks fell for a 5th straight day; Dow -0.81 percent, SPX -0.76 percent, Nasdaq -0.90 percent.


    Brexit news: Theresa May secured Cabinet backing for Brexit. GBPUSD spot went to fresh session highs near 1.3050/60 (this marks the 100d & 200 DMAs). The document is 585 pages which includes protocol on Ireland/Northern Ireland. There is no hard border or a splitting of the UK custom’s territory. As for the future financial service relationship, the deal calls for a process known as “equivalence,” which means the EU & UK will recognize each other’s regulation. Banks had been expecting this.


    US CPI: CPI data did little to influence but for the record, this came in a bit stronger than last month at 0.2 percent MoM. Data continues to support the case for Fed action in December (25 bps policy range).


    New NAFTA deal (USMCA) faces new hurdle: Democrat Congressman Bill Pascrell, who is in line to chair the Trade Sub-Committee in Congress, poured cold water all over the proposed USMCA trade pact (the new NAFTA pact), which has yet to pass. He says that the deal "needs changes to pass" and "it will not be a quick solution," adding that "it can't pass Congress as it is." This won't be up for consideration in Congress at least until the beginning of next year.

  • SGX Nifty Futures trades with a gain of more than 50 points##SGX Nifty Futures trades with a gain of more than 50 points

  • Modi government likely to be re-elected next year, says Christopher Wood of CLSA##Modi government likely to be re-elected next year, says Christopher Wood of CLSA


    Next year the country will finally see evidence of the long-awaited capital spending cycle and the government led by Prime Minister Narendra Modi is likely to be re-elected in the 2019 general election, said Christopher Wood, Global Equity Strategist at CLSA. Read more

  • Ashok Chawla resigns as chairman of Yes Bank##Ashok Chawla resigns as chairman of Yes Bank


    Yes Bank on Wednesday said it's chairman of the board, Ashok Chawla, has resigned from the post of non-executive (Independent) with immediate effect. His resignation is effective from November 14, 2018, the company said. However, Yes Bank did not give the reason for his exit. Read more