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Nirav’s PNB fraud started in 2008, bank officials tell CBI

52m freepressjournal.in
New Delhi : The practice of illegally issuing Letters of Undertaking (LoUs) and Foreign Letter of Credit (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008 and continued till these were discovered in January this year, according to CBI officials. (11-0)

Federal Bank to acquire a 26% stake in Equirus Capital

11h livemint
Mumbai: Kochi-based private lender Federal Bank Ltd on Thursday said in a stock exchange filing that it would acquire a 26% stake in Mumbai-based investment bank Equirus Capital Pvt. Ltd. Financial details of the transaction were not disclosed. (10-0)

Axis Bank Limited - Analysts/Institutional Investor Meet/Con. Call Updates

17h nseindia
The information displayed herein is uploaded by the concerned Company. The said uploaded information is displayed without any verification of adequacy, accuracy and veracity. The Exchange in discharge of its role of dissemination of uploaded information on this website immediately on its receipt. The Company shall be solely responsible and liable for any omission, commission, errors and misrepresentations in the contents of the Information. (10-0)

Value stock picker Bill Nygren's firm just made a surprising bank pick

17h cnbc
Banks are among the hottest stocks as investors try to make sense of the recent stock market swoon and rising interest-rate environment. But it's not only U.S. stocks that are attracting the attention of high-profile investors. Value legend Bill Nygren of Oakmark Funds has become the latest addition to the growing list of billion-dollar-plus fund managers snapping up stocks of India's private banks, one of the biggest beneficiaries of a resurgent and reforming South Asian nation's burgeoning middle-class-driven, high-single-digit GDP growth story. (27-1)

Why Singh brothers#39; receding control makes Fortis Healthcare a patient

2018-02-21 moneycontrol
The events at Fortis Healthcare, India’s second largest drug maker took another interesting turn as the shareholding of Fortis Healthcare promoters dropped to 5.87 percent from 34.43 percent with lenders invoking the pledged shares. (13-0)

Fortis Healthcare promoter holding falls to 5.87%

2018-02-21 moneycontrol
Promoter and promoter group holdings in Fortis Healthcare have come down to 5.87 per cent from 8.85 per cent following invocation of pledged shares, the healthcare chain said. (13-0)

IDBI Bank sells 30% NEGIL stake to IIFL Wealth for Rs 11 billion

2018-02-20 business-standard
Capital-strapped public sector lender IDBI Bank has raised about Rs 11 billion by selling its entire 30 per cent stake in NSDL e-Governance Infrastructure (NEGIL) to IIFL Wealth Management. IDBI sold 12 million equity shares on February 15, banking sources said. There were three bidders. IIFL Wealth offered the highest price. (23-0)

PNB scam fallout: FM Arun Jaitley takes a dig at the banking community

2018-02-20 moneycontrol
Expressing angst about the lack of ethics in Indian businesses, Finance Minister Arun Jaitley on Tuesday questioned the functioning of public sector banks and the role of their management and auditors. (12-0)

Higher operational cost may see BFSI fleeing our shores: Uday Kotak

2018-02-20 moneycontrol
Head of Kotak Mahindra Bank Uday Kotak has raised concerns about the high operational cost for the financial services sector, warning they may move to other parts of the world if the necessary infrastructural efficiencies are not provided. (10-0)

Revealed: Gitanjali promoter Mehul Choksi's Hong Kong 'money' connection

2018-02-20 business-standard
Documents accessed by Business Standard show that some of the offshore companies that were paid millions of dollars by Indian banks at the behest of Mehul Choksi and his business partner Nirav Modi, share many things in common. The Enforcement Directorate also suspects that Choksi and Modi used various shell companies to siphon off millions in the form of bank loans. Business Standard is publishing details of these companies and the individuals behind it, along with the glaring similarities in their physical addresses and the use of the same business reference in Hong Kong. (11-0)

Axis Bank Limited - Allotment of ESOP/ESPS

2018-02-20 nseindia
The information displayed herein is uploaded by the concerned Company. The said uploaded information is displayed without any verification of adequacy, accuracy and veracity. The Exchange in discharge of its role of dissemination of uploaded information on this website immediately on its receipt. The Company shall be solely responsible and liable for any omission, commission, errors and misrepresentations in the contents of the Information. (10-0)

Rupee, heavyweights push Sensex, Nifty lower; PSU banks recover to end in the green

2018-02-20 moneycontrol
It was a volatile day of trade on Dalal Street Tuesday. The market erased gains in last hour of trade to close mildly lower, dragged by weak global cues and sharp correction in the rupee that fell one percent intraday against the US dollar. (47-0)

Deccan Value leads the race for Amtek Auto

2018-02-20 moneycontrol
US-based hedge fund Deccan Value is leading the race of bidders for Amtek Auto, which has a debt pile of Rs 12,700 crore, according to a report in The Economic Times.  (20-0)

News Live: BlackRock turns lot more bullish on US stocks post tax cuts

2018-02-20 moneycontrol
BlackRock strategists have turned increasingly bullish on US stocks, raising them to overweight because fiscal stimulus is "supercharging US earnings growth expectations." Kate Moore, BlackRock's chief equity strategist, said the firm thinks "the fundamental story is the best it's been, which is surprising given how far we are into this cycle." (33-1)

PNB Scam: Nirav Modi paid income tax as low as Rs 930, says reports

2018-02-20 freepressjournal.in
Mumbai: For a conman, Nirav Modi covered his tracks rather well. Realising that bad debts will catch up with him, he kept his own ‘exposure’ and that of his firms “limited” in terms of partnership in these firms. (11-0)