Yes Bank’s Suitor Surely Can’t Be SPGP Holdings
Yes Bank informed the stock exchanges, on Thursday, that it has received a binding offer from a global investor for an investment of $1.2 billion in the Bank through fresh issue of equity shares. The deal is subject to regulatory approvals/conditions as well as approvals of the Bank's board and shareholders. 
 
CNBC TV18 claimed that the investment is coming from Hong Kong-based...
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  • Fine Organic: Fine Company, Exalted Valuation
    Fine Organic Industries Limited (FOIL) manufactures and sells over 400+ oleo-chemicals-based additives for food, plastics, cosmetics, paints, inks and coatings. ‘Oleo-chemicals’ are chemicals derived from processing vegetable and animal oil. However, FOIL uses only vegetable oil as an origin to derive their end products due to prohibition of animal oil & fats usage in India. It is...
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  • Nifty, Sensex continues be on an uptrend – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex’ is trending higher. The major indices opened high and ended with minor gains. 
     
    On the NSE, there were 1,119 advances, 669 declines and 356 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    The benchmark equity index, Sensex, surpassed its previous lifetime high during the early trade on Thursday. The Sensex peaked at 40,329 after the US Federal Reserve slashed it interest rates for the third time this year.
     
    The Competition Commission of India (CCI) has approved Hyundai Motor Company (HMC) and Kia Motors Corporations (KMC) stake acquisition in ANI Technologies, which operates ride-sharing company Ola and Ola Electric, under the Competition Act, 2002.
     
    Sonata Software reported Rs72 crore consolidated net profit for the second quarter of fiscal 2019-20, registering 16% annual growth from Rs62 crore in the same period a year ago. Consolidated revenue grew 19% year-on-year to Rs703 crore from Rs593 crore.
     
    Foseco India reported year-on-year 12% decrease in revenues to Rs81 crore for the quarter ended September 2019. Net profits rose 18% y-o-y to Rs10.21 crore.
     
    The board has declared a 2nd interim dividend of Rs7 per equity share of Rs10 each.
     
    Indian Oil Corporation reported year-on-year 13% decrease in revenues to Rs1,33,023 crore for the quarter ended September 2019. Net profits slumped 83% y-o-y to Rs563 crore.
     
    Surya Roshni Ltd has obtained order aggregating to Rs123 crore for supply of 3LPE Coated ERW line Pipes to ONGC through tender. The order is to be executed within 10 Months.
     
    Garden Reach Shipbuilders & Engineers reported revenues which doubled to Rs509 crore during the quarter ended September 2019 from 254.62 crore in the previous year. Net profits jumped 362% y-o-y to Rs59 crore.  
     
    Yes Bank says it has now received a binding offer from a global investor for an investment of US$1.2 billion in the bank through fresh issuance of equity shares, subject to regulatory approvals/conditions as well as bank's board and shareholders approvals.
     
    Cadila Healthcare formulations manufacturing faciIity located at Baddi, India has received an Establishment Inspection Report (EIR). The USFDA had conducted an inspection at the facility from 15th to 19th July 2019. The EIR report stated that the classification of the facility is 'No Action Indicated (NAI)'.
     
    Spark Minda Foundation, fully owned subsidiary of Minda Corporation has been honoured with the national CSR award by Nirmala Sitharaman, in presence of the President of India for its CSR initiatives under the category III - for the contribution to national priority area and the sub-category of differently abled community support.
     
    Thangamayil Jewellery reported year-on-year 8% increase in revenues to Rs394 crore for the quarter ended September 2019. Net profits jumped 68% y-o-y to Rs11.79 crore.
     
    Maithan Alloys reported year-on-year 7% decrease in revenues to Rs475 crore for the quarter ended September 2019. Net profits down 36% y-o-y to Rs42 crore.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
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