Yes Bank said its owns over 17 percent stake in Fortis Healthcare post invocation of pledge of equity shares after default by promoters group companies.
Nifty dipped below the key 10,500-level to touch a low of 10,461.55 and finally concluded 61.45 pts, 0.58% down at 10,492.85.
BSE Sensex rose over 200 points on sustained buying in key frontline counters led by metal, healthcare, basic material, telecom, banks and finance stocks.
Apollo Hospitals said it has issued letters of comfort (LOC) worth Rs 101 cr relating to credit facilities availed by its subsidiary companies.
The private sector Yes Bank said it has "nil exposure" to the entities that were associated with the fraud in the gems and jewellery sector.
BSE Sensex pared its initial gains to turn negative in afternoon session, down 198.25 pts, or 0.58%, due to correction seen in banking, financial and auto stocks.
Singh said the US corporate tax rate cut would have consequences for Indian stock market and the ripple effects are becoming visible.
Positive global cues, coupled with healthy buying in metals, banking and IT stocks, pushed the key Indian equity indices higher during the mid-afternoon trade session.
In the banking space, Yes Bank slipped 4.40 per cent, SBI 4.06 per cent, Axis Bank 3.35 per cent and ICICI Bank 2.29 per cent.
Recently, SBI reported an unexpected dip into the red. It’s a poor start to the tenure of new Chairman Rajnish Kumar, but he has a good idea of where the bank is headed.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months