Mumbai, March 13: Yes Bank expects its balance sheet size to grow over three-fold by 2020, helped by a strong retail franchise and a bigger number of clients from the small and medium sector.

The country's fifth-largest private lender started operations in 2004.

Mumbai: Kotak Mahindra Group has tied up with Canadian Pension Plan Investment Board (CPPIB) to launch a $525 million fund to invest in the stressed asset market in India.

The Canadian pension fund manager will have the option to invest up to $450 million in this partnership, Kotak Mahindra Group said in a statement on Monday.

When the turnaround plan (TAP) of the national carrier Air India was approved by the Union government in 2012, monetisation of its assets was a part of it. Four years later, the airline has managed to monetise a significant number of its assets owned in India and abroad.

According to a senior official of Air India, the national carrier earns revenue worth `85-100 crore from the Air India building situated at Nariman Point, Mumbai. As of now, four floors of the building have been given on rent to SBI and service tax department, seven floors to the income tax department and one floor to Tata Consultancy Services.

In a major clampdown, regulator Sebi has debarred over 1,000 entities from the capital markets after they were found to be misusing stock exchange platforms for tax evasion to the tune of more than Rs 15,000 crore.

Sebi has also suspended trading in shares of as many as 167 companies while the regulator has written to the Income Tax Department in nearly 100 cases where more than 1,800 entities are suspected to have traded in shares valued beyond their disclosed income.

The market benchmark BSE Sensex surged over 100 points to 24,907.31 in early trade on Monday on widespread gains as investors widened their bets amid a firming trend in other Asian markets.

However, caution prevailed in view of muted factory output data, which was released on Friday and inflation data, slated for later in the day.

Tata Motors is trading higher by 4% to Rs 369, extending its Friday’s 2% gain on the BSE after the company reported 17% year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR) vehicles, at 98,842 units in February 2016. The company had sold 83,951 units in February 2016.

Global wholesales for JLR were 52,313 vehicles. Jaguar wholesales for the month were 10,247 vehicles and cumulative wholesales were 88,736 vehicles, while Land Rover wholesales for the month were 42,066 vehicles and cumulative wholesales were 390,770 vehicles.

Coal India is trading higher by 2.4% at Rs 299 (adjusted to dividend) on the National Stock Exchange (NSE). The stock turned ex-dividend for Rs 27.40 per share today.

The board of directors of Coal India at its meeting held on March 5, 2016, had approved payment of interim dividend for the financial year 2015-16 @ Rs 27.40 per share of the face value of Rs 10.

The stock of ICICI Bank was among the biggest gainers among banking sector peers, up over 3% in Monday's trade. But, as analysts point out, the sharper gains may not sustain for long given the pressure on the asset quality front.

For one, last week itself, in a report dated March 9, ratings agency Moody's said ICICI Bank's asset quality woes will spill over to FY17 as well. This view is echoed by most analysts as well given the bank's exposure to some larger, troubled groups in the steel and power sectors (10% of its domestic loans).

Apollo Hospitals Enterprise Ltd (AHEL) said that it has completed the acquisition of the majority stake in Guwahati based Assam Hospitals Ltd.

The company announced the acquisition of 51 per cent stake in the company for Rs 57.25 crore,on June 2, 2015.

Chief Minister Chandrababu Naidu has made a strong bid to attract British investment in Andhra Pradesh, saying he planned to make his state's new capital Amaravati one of the top 10 cities in the world.

Speaking at an interactive session with about 300 investors here last night, Naidu said "India is the country to invest and in India, Andhra Pradesh is the place. We have decided to convert every crisis into an opportunity".

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