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Yes Bank shares tank nearly 14% despite RBI's nod to raise capital
Posted on 30th September 2019
New Delhi: Yes Bank shares nosedived almost 14% on Monday even after the Reserve Bank of India (RBI) gave its nod to raise capital. At 12:30 pm, shares of Yes Bank were trading at ₹42 down 13.93% on BSE. The stock had touched its 52-week low at ₹41.50 on Monday morning. On NSE, the stock was down 13.85%.

The stock was the biggest laggard on both the equity benchmark indices.

The stock opened at ₹48.40, touched a high and low of ₹49.10 and ₹42.50, respectively. The stock lost 21% in the last four days.

"Further to our communication dated September 25, 2019 on the captioned subject, the Bank is pleased to inform you that it has received acknowledgment from the Reserve Bank of India to go ahead with the proposed increase in its authorized share capital. The Bank shall now seek necessary shareholders' consent and proceed expeditiously with its capital raise," Yes Bank said in a regulatory filing.

The bank got approval to raise its authorised share capital to ₹1,100 crore from ₹800 crore.

Meanwhile, Yes Bank co-founder Rana Kapoor’s family business Yes Capital (India) Pvt. Ltd sold a 1.82% promoter group stake for ₹241.52 crore last week. The identity of the buyer is not known.

In an exchange filing on 21 September, the total holding of Kapoor and his two family-owned entities—Yes Capital and Morgan Credits Pvt. Ltd (MCPL)—came down from 9.64% to 6.89% after MCPL and another Kapoor-group promoter entity sold a combined stake of 2.75% to an undisclosed buyer.

Related Companies: Yes Bank   

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Odisha ups overtime limit for factory workers to 115 hrs a quarter from 75
Posted on 30th May 2020
The Odisha Cabinet on Friday approved as many as 22 proposals including amending the Factories Act, 1948, and allowing the workers to work 115 hours overtime in three months by enhancing the time limit.

The overtime limit is increased from 75 hours to 115 hours per quarter, and now the engagement of women workers will be allowed, with consent, between 7 pm to 6 am in factories with the condition that adequate safety, welfare and security measures and safeguards are taken by the concerned factories as prescribed, read an official statement issued by the Odisha government.

Govt is looking at starting home delivery of petrol, CNG: Pradhan
Posted on 30th May 2020
After doorstep delivery of diesel, the government is looking at starting home delivery of petrol and CNG for the greater convenience of customers, Oil Minister Dharmendra Pradhan said on Friday.

Also, the government is looking at unveiling a new fuel retailing model where all types of fuels — petrol, diesel, CNG, LNG and LPG — would be available at one place, he said.

Railways running 'Corona Express' in name of Shramik trains, says Mamata
Posted on 30th May 2020
Indian Railways is running Corona Express in the name of Shramik trains, West Bengal Chief Minister Mamata Banerjee said on Friday, alleging that social distancing is not being maintained in the special trains transporting migrant workers and others to their homes.

The law is equal for all but why are all trains running at full capacity? Why is the Railways not maintaining social distancing? Passengers are not being served water and food in the trains, Banerjee said.

Maharashtra to announce Covid-19 relief package soon: Deputy CM Ajit Pawar
Posted on 30th May 2020
Deputy Chief Minister Ajit Pawar on Friday said that the Maharashtra government will announce a package soon to deal with the situation arising out due to coronavirus (Covid-19) outbreak.

We will get to know about further plans for a lockdown of the Centre through the Prime Minister. I feel that the Prime Minister now will leave it on states because everything is shut for the last two-and-a-half-months. Schools, colleges, business and jobs are shut and hence, there is an economic crisis today, Pawar said.

COVID-19 tally in India crosses 1.73 lakh-mark, nearly 5,000 deaths; highest spike of 7,964 cases in 24 hours
Posted on 30th May 2020
The total number of confirmed cases of COVID-19 infection in India crossed the 1.73 lakh-mark on Monday, while the death toll neared the 5,000-mark as well. At 9:30 AM on this day, the COVID-19 tally in the country has reached 1,73,763 cases, which includes 86,422 active cases; 82,370 cured, discharged, or migrated patients, and 4,971 deaths.

According to the Union Ministry of Health and Family Welfare, as many as 7,964 new COVID-19 cases and 265 deaths were reported in the country in the last 24 hours, marking a significant spike. In fact, this is the highest spike in India's COVID-19 tally so far.

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