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Trending Stock: Yes Bank Shares Gain Over 2% in Early Trade

New Delhi: Yes Bank shares traded up 2.23 percent at 09:17 am (IST) in Monday trading. About 73542 shares changed hands over the counter. The stock opened at Rs 27.75 and touched a high of Rs 28.0 and Rs 27.0 respectively in the session so far.

The stock has a 52-week high of Rs 178.0 and a 52-week low of Rs 5.65.

Financial

Incorporated in the year 2003, YES Bank Ltd. is a banking company (with a market cap of Rs 33698.02 crore).

The bank has reported a gross non-performing assets (gross NPA) of Rs 32877.59 crore (.00% of total assets) and net non-performing assets (net NPA) of Rs 8623.78 crore (.00% of total assets).

WHY AXIS BANK’S SHARE PRICE ROSE 21% IN THREE DAYS?

The major products / revenue segments of  “Yes Bank Shares” Yes Bank Limited include interest and rebate on advances and bills, which contributed Rs 22922.64 crore to the selling price (77.37% of total sales), income from investment, which contributed to the sale price (60.41%). Contributed Rs 6048.42 to the total selling price) and interest which contributed Rs 256.11 crore to the selling price (0.86% of total sales) for the year ended 31.11-March 2019.

Promoter holding

The promoters of the company held 1.42 percent stake in the quarter ended March 31, 2020.

Yes bank may find it difficult to recover dish promoter dues

Mumbai: Private lender Yes BankNSE 1.12% may face hurdles to the promoters of India’s largest direct-to-home (DTH) player Dish TVNSE to recover its dues. The bank acquired a 24% stake even after the 4.71% bank acquired a 24.19% stake. Loan default, sources close to the development said.

On Friday, Yes Bank announced that it had pledged Rs 44.53 crore of pledged shares of Jawahar Goel-promoted Dish TV, part of a pledge by its brother and promoter of Essel Group, Subhash Chandra.

At the close of business hours on Friday, Dish TV had a market cap of 788.06 crores, which values ​​Yes Bank’s stake in the company at 190.6 crores. Since the beginning of the year, Dish TV’s market cap has seen a 67 percent price increase.

The loan was given to the promoters of Essel Group, who borrowed money against their shareholding in listed companies, including Dish TV. “Yes, the total exposure with Essel Group promoters of banks was Rs 3,000 crore,” an official said on condition of anonymity.

According to Yes Bank source, Dish TV shares were held as collateral when the stock stood at 73 per share, while the shares were currently trading at 4-5 per share.

June 1, 2020 0 comment
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SpaceX ‘s Houston Space Mission will be launched live on Sunday

SpaceX: After nearly a decade, America is ready to create history once again. This time, the US space agency NASA is going to send its astronauts to the International Space Station on Sunday through Elon Musk’s company SpaceX ‘s Dragon Spacecraft, which will be live streaming. Earlier at 2:03 pm on May 27, 2020, NASA had to send two American astronauts to the space station with a Falcon rocket. However, the launch was postponed 16 minutes earlier due to bad weather.

Now this launching will be done again on Sunday at 12:52 M (IST). Its live broadcast can be seen at NASA TV’s Space X launch. Apart from this, live streaming of the launching can also be seen at the Watch Party of the Museum of Flight. Coverage will begin Saturday at 8:30 p.m. (IST) and run until 12:52 on May 31. NASA said that a feed for the launching and docking operation will be given on the media channel. There will be a press conference about the launch around 4 am. Live coverage of Space X can be viewed on its site. Coverage will begin two hours before launching.

SpaceX

Currently, the US takes recourse to Russia and European countries to send its astronauts into space. This is the first time that astronauts are being sent to space through a private company instead of the government. With this launch, the US space agency NASA is going to resume its commercial crew program after 9 years. After the success of this mission, the US would neither have to resort to the rockets of Russia and European countries nor spend crores and billions of rupees for not sending its astronauts to the space station.

Read:TO SEE IF YOU ARE ELIGIBLE FOR THE FREE GOOGLE NEST MINI

SpaceX, On July 27, 2011, NASA stopped its space shuttle program after the space shuttle Atlantis returned to Earth. More than 300 astronauts were sent to space by taking 135 flights to the space station through a 30-year space shuttle program.

May 30, 2020 0 comment
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US Consumer Sentiment Collapsed in Late May, Outlook Slowed

US consumer sentiment waned in late May as Americans became increasingly pessimistic on the economic outlook, as trading conditions and profit payments raised spirits about the current situation.

(Washington) US consumer sentiment waned in late May as American economic outlooks also became increasingly pessimistic, as commercial reunification and profit payments lifted spirits about the current situation.

According to the data, the University of Michigan Final Price Index for the month fell to 72.3 from its initial reading of 73.7. Compared to 71.8 at the end of April. In Bloomberg’s survey of economists, the average estimate called for the May final index to reach 74.

The current conditions measure was 83 after the 82.3 initial reading – though still above April’s 74.3 – while the expectations index fell to 65.9, the lowest since 2013, from the initial 67.7 and the prior month’s 70.1.

Federal payments distributed under the Care Act (Coronavirus AIDS, Relief and Economic Security Act) are giving US consumer a setback – although the collision may be temporary as some incentives include a one-time check. And while the economic recession may be the worst end, Americans expect hardship for a long time, according to the report.

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The survey found 50 percent of consumers expected the second-worst reading of “bad financial times” in the next five years since Director Donald Trump became president.

Personal income on record unprecedented payments for government social benefits increased by a record 10.5 percent in April, although consumer spending declined by a record 13.6 percent, Commerce Department data showed on Friday.

The Michigan survey was conducted from April 22 to May 26, and the preliminary results cutoff was May 13.

May 29, 2020 0 comment
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Why Axis Bank’s Share Price Rose 21% in Three Days?

Axis Bank’s share price, which stood at Rs 336.95 on 22 May, reached an all-time high of Rs 407.25 on intraday today, a return of 20.86% for three consecutive sessions.

Axis Bank’s stock has gained nearly 21% in three days amid global private equity (PE) firm Carlyle Group likely to invest around $ 1 billion in a private sector lender. The share price of Axis Bank which stood at Rs 336.95 on 22 May reached a high of Rs 407.25 today, yielding a return of 20.86% in three consecutive sessions. Axis Bank’s stock reached a high of Rs 407.25 today compared to the previous close of Rs 387.35 on BSE.

The market capitalization of the bank stood at Rs 1.13 lakh crore. The stock is trading above the 5-day and 20-day moving average, but is below the 50-day, 100-day and 200-day moving average. Axis Bank stock has gained 12.78% in one week.

However, the Axis Bank’s share has fallen 46.56% since the beginning of this year and has lost 50.18% during the last one year.

According to analyst recommendations tracked by Reuters, 35 stocks out of 47 brokerages rate “Buy” or “Outperform” and 12 at “Hold”. The stock hit a 52-week high of Rs 826 on 6 June 2019 and Rs 285 on 25 March this year.

Axis Bank’s share : The stock on the Nifty rose 5.16% to Rs 407 against the previous close of Rs 387. A report by The Economic Times stated that the lender has started discussions with the Carlyle Group on capital infusion.

“The talks have been going on for almost a month. Axis stock has become volatile. In recent weeks, brass has been warming up to the idea of ​​another deep-pocketed investor,” the newspaper quoted a source as saying.

However, in clarifying the creditors, the lender stated that the newspaper report was speculative.

China Approves Rein in Hong Kong, Resentment Across the World

“We would like to clarify that the news item is speculative and the bank has not taken any such decision in this regard. Any such disclosure is not required to be done under Reg.30 of the Listing Regulations and the Bank Exchange Will duly keep. Axis Bank stated that when and if a decision is taken in this matter, it is informed.

May 28, 2020 0 comment
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China Approves Rein in Hong Kong, Resentment Across the World

Beijing ordered that a new law be written to expand many of mainland China’s security practices into Hong Kong, creating broader powers to spread unrest.

BEIJING – China officially has broad power to end the unrest in Hong Kong, as the country’s legislature unanimously approved plans to suppress subversion, secularism, terrorism on Thursday and undertake any such act. Permitted which may threaten national security in the paramilitary city.

As Beijing lays out the nuances of national security legislation in the coming weeks, the final rules will help determine Hong Kong’s fate, including how much the city’s autonomy will be protected or how much Beijing will strengthen its grip.

Initial indications from Chinese officials point to the status of the law once it comes into effect, which is expected by September.

Active groups may be banned. The courts can serve lengthy prison sentences for national security violations. China’s feared security agencies may operate openly in the city.

This week also the Chief Executive of Hong Kong indicated that some civil liberties may not be a permanent feature of Hong Kong life. “We are a very independent society, so over time, people have the freedom to say whatever they want to say,” said Chief Executive Officer Carrie Lam, “Rights and freedoms are not absolute.”

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The prospect of a national security law has fueled immediate impact in Hong Kong, where protesters are once again taking to the streets. The international community has also warned against violations of the city’s civil liberties.

The Trump administration indicated Wednesday that China’s move was likely to end some or all of the US government’s special trade and economic ties with Hong Kong. The State Department no longer considers Hong Kong to have significant autonomy, said Secretary of State Mike Pompeo, a prerequisite for maintaining business conditions.

Clues on upcoming security legislation can be found in earlier templates: a 2003 bill in Hong Kong that was shaken by protests, and a law in another semi-autonomous Chinese city of Macau.

Treason, sabotage, segregation and treason were widely imposed in both, along with increasing law enforcement powers. Hong Kong law would have allowed raids without warrants if police believed national security would be jeopardized waiting for a judge – the prospect of which drew huge crowds of peaceful protesters.

Both bills made it easier for officials to win national security cases in court. Macau laws, for example, bar judges with foreign citizenship serving on panels hearing national security matters. Courts in Hong Kong have long relied on judges who immigrated to the city from the British Commonwealth, but retain passports from their home countries.

Legislation in Macau, a former Portuguese colony, has been essentially unused for the past 11 years. The authorities there prefer to take measures against occasional opposition under less attention-getting legislation. But unlike Hong Kong, Macau’s government has not faced a broad-based democracy movement that has attracted international sympathy.

Hong Kong’s political structure does not provide much relief from the new law. The city’s basic law and framework outlined in the Bill of Rights provide comprehensive protection for civil liberties. But a big exemption exists, like the National Security Act that Beijing is now drafting.

The United Nations International Covenant on Civil and Political Rights has both pieces of language structure. If national security is in danger, the covenant has six separate clauses, which allow rights to be restricted.

May 28, 2020 2 comments
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