The stock touched an intra-day high of Rs 14.46 apiece on the BSE, closing trade at Rs 14.24 a share, up 19 per cent over the previous day's close
The company on Tuesday said Goel would not opt for a re-appointment on its board and independent director Bhagwan Das Narang would vacate office after his term expired
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The lenders are concerned about SpiceJet's cash flows and have held discussions seeking assurances from the budget carrier, as it is behind on payments to some aircraft lessors, say sources
Moody's on Thursday said it has upgraded Yes Bank's rating while changing outlook to 'stable' on the back of its equity capital raise plan announced last week. The global rating agency has upgraded the private sector lender's long-term foreign currency issuer rating and long-term foreign and local currency back deposit ratings to 'Ba3' from 'B2'. It has also changed the outlook on Yes Bank's ratings to 'stable' from 'positive' and also adjusted the Baseline Credit Assessment (BCA) to 'b1' from 'b3'. "The upgrade of Yes Bank's BCA and ratings reflects the bank's planned equity capital raise, which will support its credit profile and strengthen its resilience against potential asset quality risks arising from headwinds such as higher inflation and tighter global financial conditions," Moody's Investors Service said in a release. On July 29, Mumbai-headquartered Yes Bank announced the raising of nearly Rs 8,900 crore (about USD 1.1 billion) through a mix of shares and warrants to be .
The fundraising marked a rare vote of confidence in Yes Bank, which had to be taken over by the Reserve Bank of India in March 2020 after months of deterioration in its financials and allegations of m
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"The bank is well poised to capitalise on the growth opportunities and further enhance its positioning in the India banking space," it added.
On July 29, 2022, the bank announced to raise equity capital of around 1.1 billion (Rs 8,900 crore) from funds affiliated with two global private equity investors - Carlyle and Advent International.
Yes Bank may receive a rating upgrade now that its financial health has improved with the capital raise, but it will need to focus on keeping its bad loans in check, says ICICI Securities
Consequent to the capital infusion, YES bank's CET-1 ratio (based on FY2022) would improve by 380bps to 15.4 per cent and total capital adequacy ratio would improve to 21 per cent
Stocks to Watch today: ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, among others will release their Q1 earnings today.
Yes Bank Ltd said on Friday it will sell up to 10% stake to U.S. private equity firms Carlyle Group Inc and Advent International for $1.1 billion
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The fund-raising plan is subject to shareholder approval at the extraordinary general meeting, to be held on August 24
Yes Bank to cumulatively issue 3.69 billion equity shares at a price of Rs 13.78 per share to both investors; each investor will potentially acquire up to a 10% stake in the lender
Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.
The agency has also named Satyen Tandon as an accused in the charge sheet filed before a special CBI court in Mumbai, officials said.
CLOSING BELL: Among sectors, the Nifty Auto fell 1.7 per cent, while the Nifty Metal added 1.5 per cent
Stocks to watch today: Axis Bank, Tata Steel will report their June quarter 2022 results (Q1FY23) on Monday, July 25; Infosys delivered net profit for Q1 below street expectations at Rs 5,360 crore.