If previous management of Yes Bank was guilty of hiding its tattered asset quality, the new lot premature hopefulness is thwarting orderly price discovery.
Yes Bank stock surged 33% after CEO Ravneet Gill announced his plan of selling $1 billion-$1.2 billion of new shares to private equity investors and technology companies.
Yes Bank is at the epicenter of rising stress in India’s credit markets, where last year's shock defaults by a major infrastructure lender led to strains at other shadow banks.
Tata Motors, HDFC Bank, Bharti Airtel and Asian Paints were the only gainers, rising up to 1.97 % after stock-specific sell-off in index heavyweights dragged key indices lower.
While main elements behind terror module have been nabbed, more arrests will take place, including some professors & academicians who were part of the ring, it is learnt.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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