State Bank of India said it will need to invest 24.5 billion rupees ($331 million) if it were to buy a 49% stake in Yes Bank as part of a rescue deal of the troubled lender.

SBI Chairman Rajnish Kumar told reporters on Saturday the bank's capital infusion into rescuing Yes Bank would have a "very marginal" impact on SBI's capital adequacy ratio.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/rbi-imposes-moratorium-on-yes-bank-withdrawals-capped-to-rs-50000-284590">RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000</a>

On Thursday, the Reserve Bank of India (RBI) took control of Yes Bank, imposed limits on withdrawals to protect investors and said it would work on a revival plan.

"The survival of the bank is a must," Kumar told reporters at a news conference, adding that several investors had approached SBI to form a consortium to pick up the 49% stake. He declined to name any of the investors.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/sbi-chairman-insists-bankruptcy-last-option-for-jet-airways-204559">SBI Chairman insists bankruptcy 'last option' for Jet Airways</a>

"For Yes Bank also, people have reached out. These are all initial discussions and then we will discuss with them, our investment team will discuss with them, work out what are the possibilities which meet with regulatory guidelines," he said.

However, he said SBI was not in talks with any of Yes Bank’s current shareholders about the investment.

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/air-india-to-sell-2-properties-to-sbi-may-fetch-rs-50-crore-23541">Air India to sell 2 properties to SBI, may fetch Rs 50 crore</a>

SBI will try to approve the reconstruction of Yes Bank much before the 30-day RBI imposed moratorium ends, Kumar said.

Yes Bank has struggled to raise capital it needs to stay above regulatory requirements as it battles high levels of bad loans. It has been trying to raise more than $1 billion in fresh capital since late last year, and in February delayed its December-quarter results.

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/jet-airways-pilots-appeal-to-sbi-for-funds-also-ask-pm-to-save-20000-jobs-210501">Jet Airways pilots appeal to SBI for funds, also ask PM to save 20,000 jobs</a>

Shares in Yes Bank closed 56% lower on Friday.

SBI will not be allowed to reduce its stake to below 26% for at least three years. All instruments issued by Yes Bank which qualify as Additional Tier 1 capital will be written down permanently, according to the RBI's plan. 
&nbsp;

State Bank of India said it will need to invest 24.5 billion rupees ($331 million) if it were to buy a 49% stake in Yes Bank as part of a rescue deal of the troubled lender.

State Bank of India said it will need to invest 24.5 billion rupees ($331 million) if it were to buy a 49% stake in Yes Bank as part of a rescue deal of the troubled lender. SBI Chairman Rajnish Kumar told reporters on Saturday the bank's capital infusion into rescuing Yes Bank would have a "very marginal" impact on SBI's capital adequacy ratio. Also Read: RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000 On Thursday, the Reserve Bank of India (RBI) took control of Yes Bank, imposed limits on withdrawals to protect investors and said it would work on a revival plan. "The survival of the bank is a must," Kumar told reporters at a news conference, adding that several investors had approached SBI to form a consortium to pick up the 49% stake. He declined to name any of the investors. Also Read: SBI Chairman insists bankruptcy 'last option' for Jet Airways "For Yes Bank also, people have reached out. These are all initial discussions and then we will discuss with them, our investment team will discuss with them, work out what are the possibilities which meet with regulatory guidelines," he said. However, he said SBI was not in talks with any of Yes Bank’s current shareholders about the investment. Also Read: Air India to sell 2 properties to SBI, may fetch Rs 50 crore SBI will try to approve the reconstruction of Yes Bank much before the 30-day RBI imposed moratorium ends, Kumar said. Yes Bank has struggled to raise capital it needs to stay above regulatory requirements as it battles high levels of bad loans. It has been trying to raise more than $1 billion in fresh capital since late last year, and in February delayed its December-quarter results. Also Read: Jet Airways pilots appeal to SBI for funds, also ask PM to save 20,000 jobs Shares in Yes Bank closed 56% lower on Friday. SBI will not be allowed to reduce its stake to below 26% for at least three years. All instruments issued by Yes Bank which qualify as Additional Tier 1 capital will be written down permanently, according to the RBI's plan.

State Bank of India says a 49% stake in Yes Bank will cost $331 million

Why did the RBI place curbs on withdrawals at Yes Bank? This report decodes the crisis.

Gravitas: Decoding the crisis at Yes Bank

Former State Bank of India Chief financial officer Prashant Kumar has become the administrator after Reserve Bank of India overtakes Yes Bank after dissolving its board.

WION Wallet: RBI took-over control of Bad loan-burdened Yes Bank | Yes Bank Crisis

As Reserve Bank of India puts a cap on Yes bank money withdrawal, Indian Finance Minister Nirmala Sitharaman assure customers that their money is safe in the bank & there is no need to worry.

As RBI puts cap on Yes bank money withdrawal, Indian FM assure customers that their money is safe

A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday.

The central bank added that SBI is already willing&nbsp;in picking up a stake in Yes Bank.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/yes-bank-crisis-will-not-let-any-institution-to-fall-says-fm-nirmala-sitharaman-284776">Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman</a>

As per the draft: 'Yes Bank Ltd. Reconstruction Scheme, 2020', the RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/sensex-closes-over-890-points-down-over-yes-bank-coronavirus-fears-284748">Sensex closes over 890 points down over Yes Bank, coronavirus fears</a>

"The investor bank shall agree to invest in the equity of the Reconstructed bank to the extent that post-infusion it holds 49 per cent shareholding in the Reconstructed bank at a price not less than Rs 10 (Face value of Rs 2) and premium of Rs 8," the draft said.&nbsp;

The RBI also said that the comments from the stakeholders on the draft are open till March 9.&nbsp;

The draft comes a day after the RBI imposed a moratorium on the lender, restricting withdrawals to Rs 50,000 per depositor till April 3.

Earlier, Union Finance Minister Nirmala Sitharaman addressed a press conference where she said that she would not let any institution to fall off the cliff.&nbsp;

Sitharaman also said that the RBI has been asked to look into what went wrong with Yes Bank and fix individual responsibilities.

RBI Governor Shaktikanta Das today said that resolution efforts are aimed at maintaining "stability and resilience" in the Indian financial sector and the challenges will be overcome "very swiftly".

On BSE, Yes Banks stocks plunged by over 80 per cent during intra-day trade, before closing &nbsp;56.04 per cent lower at Rs 16.20.

(With PTI inputs)

A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday. The central bank added that SBI is already willing in picking up a stake in Yes Bank.

A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday. The central bank added that SBI is already willing in picking up a stake in Yes Bank. Also read: Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman As per the draft: 'Yes Bank Ltd. Reconstruction Scheme, 2020', the RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion. Also read: Sensex closes over 890 points down over Yes Bank, coronavirus fears "The investor bank shall agree to invest in the equity of the Reconstructed bank to the extent that post-infusion it holds 49 per cent shareholding in the Reconstructed bank at a price not less than Rs 10 (Face value of Rs 2) and premium of Rs 8," the draft said. The RBI also said that the comments from the stakeholders on the draft are open till March 9. The draft comes a day after the RBI imposed a moratorium on the lender, restricting withdrawals to Rs 50,000 per depositor till April 3. Earlier, Union Finance Minister Nirmala Sitharaman addressed a press conference where she said that she would not let any institution to fall off the cliff. Sitharaman also said that the RBI has been asked to look into what went wrong with Yes Bank and fix individual responsibilities. RBI Governor Shaktikanta Das today said that resolution efforts are aimed at maintaining "stability and resilience" in the Indian financial sector and the challenges will be overcome "very swiftly". On BSE, Yes Banks stocks plunged by over 80 per cent during intra-day trade, before closing 56.04 per cent lower at Rs 16.20. (With PTI inputs)

Potential investor will have to pick up 49% stake in Yes Bank; SBI shown willingness: RBI

After shares of Yes Bank fell 56 per cent on Friday, Union Finance Minister Nirmala Sitharaman said that she would not let any institution to fall off the cliff.&nbsp;

Sitharaman addressed a press conference on the Yes Bank crisis a day after RBI placed the organisation under a 30-day moratorium.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Finance Minister Nirmala Sitharaman: <a href="https://twitter.com/hashtag/YesBank?src=hash&amp;ref_src=twsrc%5Etfw">#YesBank</a> lent money to some of the very stressed corporations like Anil Ambani Group, Essel, Dewan Housing Finance Corporation (DHFL), Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS), and Vodafone. <a href="https://t.co/D7a5tzuYS9">pic.twitter.com/D7a5tzuYS9</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1235898661776711680?ref_src=twsrc%5Etfw">March 6, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The finance minister also assured the employees that their jobs and salaries would remain secured for one year. She also said that the deposits and liabilities would be unaffected by the crisis.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
Union Minister Nirmala Sitharaman on <a href="https://twitter.com/hashtag/YesBank?src=hash&amp;ref_src=twsrc%5Etfw">#YesBank</a>: Investigative agencies, SEBI noticed malpractices by top executives in March 2019 <a href="https://t.co/vEoaKFUIDs">https://t.co/vEoaKFUIDs</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1235896112554229760?ref_src=twsrc%5Etfw">March 6, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Earlier today, shares of Yes Bank fell 84 per cent before recovering to close 56 per cent lower at Rs 16.20. Its market valuation plummetted Rs 5,266.23 crore to Rs 4,131.77 crore on the BSE.

"Since 2017, RBI has been continuously monitoring and scrutinizing Yes Bank. It noticed that there were governance issues and weak compliances. There was a wrong asset classification together with risky credit decisions," Sitharaman said.&nbsp;

Sitharaman also said that the government is "committed to ensuring that depositors' interests are safeguarded".&nbsp;

Earlier on Thursday, depositors of the bank rushed to ATMs to withdraw cash after the apex bank placed it under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month.

(with inputs from agencies)

After shares of Yes Bank fell 56 per cent on Friday, Union Finance Minister Nirmala Sitharaman said that she would not let any institution to fall off the cliff.

After shares of Yes Bank fell 56 per cent on Friday, Union Finance Minister Nirmala Sitharaman said that she would not let any institution to fall off the cliff. Sitharaman addressed a press conference on the Yes Bank crisis a day after RBI placed the organisation under a 30-day moratorium. Finance Minister Nirmala Sitharaman: #YesBank lent money to some of the very stressed corporations like Anil Ambani Group, Essel, Dewan Housing Finance Corporation (DHFL), Infrastructure Leasing & Financial Services Limited (IL&FS), and Vodafone. pic.twitter.com/D7a5tzuYS9 — ANI (@ANI) March 6, 2020 × The finance minister also assured the employees that their jobs and salaries would remain secured for one year. She also said that the deposits and liabilities would be unaffected by the crisis. Union Minister Nirmala Sitharaman on #YesBank: Investigative agencies, SEBI noticed malpractices by top executives in March 2019 https://t.co/vEoaKFUIDs — ANI (@ANI) March 6, 2020 × Earlier today, shares of Yes Bank fell 84 per cent before recovering to close 56 per cent lower at Rs 16.20. Its market valuation plummetted Rs 5,266.23 crore to Rs 4,131.77 crore on the BSE. "Since 2017, RBI has been continuously monitoring and scrutinizing Yes Bank. It noticed that there were governance issues and weak compliances. There was a wrong asset classification together with risky credit decisions," Sitharaman said. Sitharaman also said that the government is "committed to ensuring that depositors' interests are safeguarded". Earlier on Thursday, depositors of the bank rushed to ATMs to withdraw cash after the apex bank placed it under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. (with inputs from agencies)

Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman

Yes Bank, India’s fifth-largest private sector lender, was placed under a moratorium with the Reserve Bank of India (RBI) taking over from its board for 30 days and imposing limits on withdrawals to protect depositors. The central bank said, was necessary because of a serious deterioration in Yes Bank’s financial position and that it would swiftly work on a revival plan.

Government places Yes Bank placed under moratorium

The Reserve Bank of India’s has decided to put a moratorium on Yes Bank on Thursday for a period of thirty days. Withdrawals by depositors have been restricted, and mutual funds have begun writing off the value of the Yes Bank debt securities they hold. Watch report:

WION Wallet: RBI moves to restructure YES Bank by placing it under moratorium | Yes Bank Moratorium

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender.

The move by the Reserve Bank of India (RBI) sparked a sell-off across the troubled banking sector and sent the rupee falling to its weakest level since 2018.

People queued outside Yes Bank branches after the announcement late Thursday that customers can only withdraw 50,000 rupees over the next 30 days while the RBI tries to put together a rescue.

The news added to liquidity concerns about India's financial system more than a year after the near-collapse of IL&amp;FS, one of the nation's biggest "shadow banks" -- finance houses responsible for significant consumer lending.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/rbi-imposes-moratorium-on-yes-bank-withdrawals-capped-to-rs-50000-284590">RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000</a>

A resulting reluctance of banks to lend money has exacerbated the woes of Asia's third-biggest economy, with growth slowing for seven consecutive quarters before picking up with a meagre 4.7-per cent expansion in the final three months of 2019.

Yes Bank's exposure to the shadow banking sector is particularly large and it has been struggling for some time to raise fresh capital to free itself of a mountain of bad loans in order to quell worries about its viability.

"Investors have turned risk-averse and the contagion is likely to hit smaller bank and non-bank finance companies," said Abhimanyu Sofat at IIFL Securities.&nbsp;

"How soon the RBI finalises the rescue plan is key as persistent operational curbs increase uncertainty," Sofat told Bloomberg News.

Also see:<a href="https://www.wionews.com/india-news/supreme-court-allows-trade-in-cryptocurrencies-quashes-rbi-curb-284158">&nbsp;Supreme Court allows trade in cryptocurrencies, quashes RBI curb</a>

The RBI put the blame on "serious governance issues and practices in recent years" but said there was "no need to panic".

However, customers waiting to get their money were far from reassuring.

"It's not clear at the moment, and that is making some people panic a bit. Even I am at the moment," Devika, a student and Yes Bank account holder, told AFP as she queued to withdraw money in New Delhi.

"I had purchased 15 shares of Yes Bank at 150 rupees per share and now they are at 15 rupees. It's a huge dent on my investments and even my deposits are locked in," Varsha Gandhi, a Mumbai-based lawyer told the sources.

Watch:&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/government-places-yes-bank-placed-under-moratorium-284618/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"I am just waiting to see if RBI's moves will have any positive impact. But it's a huge loss as the stocks have tanked," 27-year-old Gandhi added.&nbsp;

RBI governor Shaktikanta Das also tried to reassure account holders.

"The 30 days which we have given is the outer limit, you will see very swift action from the RBI to put in place a scheme to revive Yes Bank," he told reporters in the financial capital Mumbai on Friday.&nbsp;

According to media reports, the RBI was attempting to cobble together a rescue that included State Bank of India (SBI), the country's largest lender, and other financial institutions.

"There are legitimate questions being raised about the bank's balance sheet, ability to raise capital and the central bank and SBI may have to take quick steps to revive it in the next few days," Ashutosh Datar, an independent economist in Mumbai, told sources.

"The next few weeks are crucial for Yes Bank's survival," said Sameer Narang, an economist at State Bank of Baroda.

By early afternoon in Mumbai, Yes Bank shares had recovered slightly but were still down 59 per cent at 15.20 rupees.

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender.

Shares in India's Yes Bank plunged as much as 85 per cent on Friday after the central bank seized control and imposed withdrawal limits to prevent the collapse of the country's fourth-largest lender. The move by the Reserve Bank of India (RBI) sparked a sell-off across the troubled banking sector and sent the rupee falling to its weakest level since 2018. People queued outside Yes Bank branches after the announcement late Thursday that customers can only withdraw 50,000 rupees over the next 30 days while the RBI tries to put together a rescue. The news added to liquidity concerns about India's financial system more than a year after the near-collapse of IL&FS, one of the nation's biggest "shadow banks" -- finance houses responsible for significant consumer lending. Also read: RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000 A resulting reluctance of banks to lend money has exacerbated the woes of Asia's third-biggest economy, with growth slowing for seven consecutive quarters before picking up with a meagre 4.7-per cent expansion in the final three months of 2019. Yes Bank's exposure to the shadow banking sector is particularly large and it has been struggling for some time to raise fresh capital to free itself of a mountain of bad loans in order to quell worries about its viability. "Investors have turned risk-averse and the contagion is likely to hit smaller bank and non-bank finance companies," said Abhimanyu Sofat at IIFL Securities. "How soon the RBI finalises the rescue plan is key as persistent operational curbs increase uncertainty," Sofat told Bloomberg News. Also see: Supreme Court allows trade in cryptocurrencies, quashes RBI curb The RBI put the blame on "serious governance issues and practices in recent years" but said there was "no need to panic". However, customers waiting to get their money were far from reassuring. "It's not clear at the moment, and that is making some people panic a bit. Even I am at the moment," Devika, a student and Yes Bank account holder, told AFP as she queued to withdraw money in New Delhi. "I had purchased 15 shares of Yes Bank at 150 rupees per share and now they are at 15 rupees. It's a huge dent on my investments and even my deposits are locked in," Varsha Gandhi, a Mumbai-based lawyer told the sources. Watch: × "I am just waiting to see if RBI's moves will have any positive impact. But it's a huge loss as the stocks have tanked," 27-year-old Gandhi added. RBI governor Shaktikanta Das also tried to reassure account holders. "The 30 days which we have given is the outer limit, you will see very swift action from the RBI to put in place a scheme to revive Yes Bank," he told reporters in the financial capital Mumbai on Friday. According to media reports, the RBI was attempting to cobble together a rescue that included State Bank of India (SBI), the country's largest lender, and other financial institutions. "There are legitimate questions being raised about the bank's balance sheet, ability to raise capital and the central bank and SBI may have to take quick steps to revive it in the next few days," Ashutosh Datar, an independent economist in Mumbai, told sources. "The next few weeks are crucial for Yes Bank's survival," said Sameer Narang, an economist at State Bank of Baroda. By early afternoon in Mumbai, Yes Bank shares had recovered slightly but were still down 59 per cent at 15.20 rupees.

Shares in India's Yes Bank crash on withdrawal limits

Yes Bank has been placed under "moratorium" with the Reserve Bank of India(RBI) capping depositor withdrawals at Rs 50,000 per account for a month.

<a href="https://www.wionews.com/business-economy/board-member-at-yes-bank-quits-cites-governance-concerns-273443">Also Read: Board member at Yes Bank quits, cites governance concerns</a>

"The Reserve Bank came to the conclusion that in the absence of a credible revival plan, and in public interest and the interest of the bank's depositors, it had no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949," the RBI said in a statement.

RBI said <a href="https://www.wionews.com/business-economy/yes-bank-seeks-up-to-2-billion-in-preferential-new-share-issue-265494">Yes Bank</a> was in talks with investors including private equity firms to infuse capital.&nbsp;

"These investors did hold discussions with senior officials of the Reserve Bank but for various reasons eventually did not infuse any capital," RBI said, adding,"since a bank and market-led revival is a preferred option over a regulatory restructuring, the Reserve Bank made all efforts to facilitate such a process and gave adequate opportunity to the bank's management to draw up a credible revival plan, which did not materialise," the statement said.

<a href="https://www.wionews.com/business-economy/yes-bank-gets-12-billion-offer-from-global-investor-259044">Also Read: Yes Bank gets $1.2 billion offer from global investor</a>

In the statement, India's central bank said the move was necessary to restore depositors' confidence after the bank's inability to address potential loan losses and downgrades.

"The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank," the Reserve Bank of India informed.

In January, Uttam Prakash Agarwal, an independent board member with Yes Bank had resigned from the lender's board and stepped down as head of its audit committee citing major corporate governance concerns.

Yes Bank has been placed under "moratorium" with the Reserve Bank of India(RBI) capping depositor withdrawals at Rs 50,000 per account for a month. Also Read: Board member at Yes Bank quits, cites governance concerns "The Reserve Bank came to the conclusion that in the absence of a credible revival plan, and in public interest and the interest of the bank's depositors, it had no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949," the RBI said in a statement.

Yes Bank has been placed under "moratorium" with the Reserve Bank of India(RBI) capping depositor withdrawals at Rs 50,000 per account for a month. Also Read: Board member at Yes Bank quits, cites governance concerns "The Reserve Bank came to the conclusion that in the absence of a credible revival plan, and in public interest and the interest of the bank's depositors, it had no alternative but to apply to the central government for imposing a moratorium under Section 45 of the Banking Regulation Act, 1949," the RBI said in a statement. RBI said Yes Bank was in talks with investors including private equity firms to infuse capital. "These investors did hold discussions with senior officials of the Reserve Bank but for various reasons eventually did not infuse any capital," RBI said, adding,"since a bank and market-led revival is a preferred option over a regulatory restructuring, the Reserve Bank made all efforts to facilitate such a process and gave adequate opportunity to the bank's management to draw up a credible revival plan, which did not materialise," the statement said. Also Read: Yes Bank gets $1.2 billion offer from global investor In the statement, India's central bank said the move was necessary to restore depositors' confidence after the bank's inability to address potential loan losses and downgrades. "The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank," the Reserve Bank of India informed. In January, Uttam Prakash Agarwal, an independent board member with Yes Bank had resigned from the lender's board and stepped down as head of its audit committee citing major corporate governance concerns.

RBI imposes 'moratorium' on Yes Bank; withdrawals capped to Rs 50,000

Shares rose on Wednesday after the finance minister said the government would announce measures to tackle the financial fallout from the <a href="https://www.wionews.com/world/death-toll-in-chinas-coronavirus-passes-2000-passengers-begin-leaving-japan-cruise-ship-281458">coronavirus </a>outbreak amid a fall in new cases in China.

The broader NSE <a href="https://www.wionews.com/business-economy/sensex-nifty-end-lower-on-coronavirus-fears-metals-drag-277556">Nifty</a>&nbsp;50 index&nbsp;was up 0.93 per cent&nbsp;at 12,1014 by 0401 GMT, while the benchmark S&amp;P BSE <a href="https://www.wionews.com/business-economy/sensex-nifty-end-lower-on-coronavirus-fears-metals-drag-277556">Sensex&nbsp;</a>rose 0.6&nbsp;per cent&nbsp;to 41,121.51.

Both the indexes declined nearly 1&nbsp;per cent&nbsp;in the last two sessions due to the rising financial impact of the epidemic.

Also read:&nbsp;<a href="https://www.wionews.com/opinions/wion-edit-summarising-the-state-of-indian-economy-274415">Summarising the state of Indian economy</a>

Finance minister <a href="https://www.wionews.com/business-economy/ride-hailing-services-metro-trains-bs-vi-among-other-reasons-for-auto-sector-slowdown-finance-minister-nirmala-sitharaman-248878">Nirmala Sitharaman</a> met more than 200 business leaders to assess the impact of the coronavirus on Tuesday and said the government would unveil measures to help businesses.

However, she did not elaborate on what measures the government would take to limit the impact.

"If the coronavirus threats die down the markets may see a short-term bounce back," said Naveen Kulkarni, head of research at Reliance Securities.

Also read:&nbsp;<a href="https://www.wionews.com/world/death-toll-in-chinas-coronavirus-passes-2000-passengers-begin-leaving-japan-cruise-ship-281458">Death toll in China's coronavirus passes 2,000 as another person dies in Hong Kong</a>

"Corporate earnings have been weak. There are big challenges with regards to the resolution the banking industry has to see. There are banks that are still struggling to raise capital and there are more long-term challenges."

India's industrial output unexpectedly contracted in December, according to data released this month, showing that Asia's third-largest economy remains under pressure.

The blue-chip Nifty 50 index has fallen about 2.6&nbsp;per cent&nbsp;from its Jan. 20 record intraday high of 12,430.50, weighed down by the impact of the outbreak and as the annual federal budget failed to address key concerns among investors.

<a href="https://www.wionews.com/world/bloomberg-qualifies-for-next-debate-and-rivals-are-getting-ready-281390">Yes Bank</a>&nbsp;fell 1.4&nbsp;per cent&nbsp;after the National Stock Exchange said on Tuesday it will drop the lender's shares from the blue-chip index.

The biggest gainer in the Nifty 50 was Bharti Infratel Ltd, up 7.1 per cent, followed by NTPC Ltd, which gained 3.5 per cent.

Shares rose on Wednesday after the finance minister said the government would announce measures to tackle the financial fallout from the coronavirus outbreak amid a fall in new cases in China.

Shares rose on Wednesday after the finance minister said the government would announce measures to tackle the financial fallout from the coronavirus outbreak amid a fall in new cases in China. The broader NSE Nifty 50 index was up 0.93 per cent at 12,1014 by 0401 GMT, while the benchmark S&P BSE Sensex rose 0.6 per cent to 41,121.51. Both the indexes declined nearly 1 per cent in the last two sessions due to the rising financial impact of the epidemic. Also read: Summarising the state of Indian economy Finance minister Nirmala Sitharaman met more than 200 business leaders to assess the impact of the coronavirus on Tuesday and said the government would unveil measures to help businesses. However, she did not elaborate on what measures the government would take to limit the impact. "If the coronavirus threats die down the markets may see a short-term bounce back," said Naveen Kulkarni, head of research at Reliance Securities. Also read: Death toll in China's coronavirus passes 2,000 as another person dies in Hong Kong "Corporate earnings have been weak. There are big challenges with regards to the resolution the banking industry has to see. There are banks that are still struggling to raise capital and there are more long-term challenges." India's industrial output unexpectedly contracted in December, according to data released this month, showing that Asia's third-largest economy remains under pressure. The blue-chip Nifty 50 index has fallen about 2.6 per cent from its Jan. 20 record intraday high of 12,430.50, weighed down by the impact of the outbreak and as the annual federal budget failed to address key concerns among investors. Yes Bank fell 1.4 per cent after the National Stock Exchange said on Tuesday it will drop the lender's shares from the blue-chip index. The biggest gainer in the Nifty 50 was Bharti Infratel Ltd, up 7.1 per cent, followed by NTPC Ltd, which gained 3.5 per cent.

Nifty, Sensex gain on hopes of government aid to tackle virus impact

Shares ended higher on Wednesday, as a slowdown in the number of <a href="https://www.wionews.com/world/petition-seeking-right-to-freedom-of-speech-gathers-momentum-as-china-fights-coronavirus-280264">coronavirus </a>cases and the US&nbsp;Federal Reserve chairman's optimistic view on the economy whetted investor appetite for riskier assets.

The broader <a href="https://www.wionews.com/business-economy/india-can-end-up-with-5-real-gdp-growth-this-fiscal-chairman-of-pms-economic-advisory-council-277423">Nifty </a>ended up 0.77 per cent at 12,201.20 and the benchmark <a href="https://www.wionews.com/business-economy/india-can-end-up-with-5-real-gdp-growth-this-fiscal-chairman-of-pms-economic-advisory-council-277423">Sensex </a>ended 0.85&nbsp;per cent&nbsp;higher at 41,565.90.

Also read: <a href="https://www.wionews.com/business-economy/india-can-end-up-with-5-real-gdp-growth-this-fiscal-chairman-of-pms-economic-advisory-council-277423">India can end up with 5% real GDP growth this fiscal: Chairman of PM's Economic Advisory Council</a>

<a href="https://www.wionews.com/world/petition-seeking-right-to-freedom-of-speech-gathers-momentum-as-china-fights-coronavirus-280264">China </a>reported its lowest number of new coronavirus cases since late January, supporting its senior medical adviser's prediction that the outbreak might be over by April.

Meanwhile, Federal Reserve Chair Jerome Powell on Tuesday said the US economy is in a good place, leading to a rise in bond yields and lifting sentiment globally.&nbsp;

In the domestic market, consumer goods giant Hindustan Unilever surged over 5&nbsp;per cent&nbsp;to a record close of 2260.35 rupees and boosted the Nifty FMCG index, up 1.88 per cent.

Financial stocks were also among top contributors to gains for the day, with the Nifty financials index gaining 0.66 per cent.

Meanwhile, Yes Bank was the day's top laggard, ending 4.5&nbsp;per cent&nbsp;lower.

Shares ended higher on Wednesday, as a slowdown in the number of coronavirus cases and the US Federal Reserve chairman's optimistic view on the economy whetted investor appetite for riskier assets.

Shares ended higher on Wednesday, as a slowdown in the number of coronavirus cases and the US Federal Reserve chairman's optimistic view on the economy whetted investor appetite for riskier assets. The broader Nifty ended up 0.77 per cent at 12,201.20 and the benchmark Sensex ended 0.85 per cent higher at 41,565.90. Also read: India can end up with 5% real GDP growth this fiscal: Chairman of PM's Economic Advisory Council China reported its lowest number of new coronavirus cases since late January, supporting its senior medical adviser's prediction that the outbreak might be over by April. Meanwhile, Federal Reserve Chair Jerome Powell on Tuesday said the US economy is in a good place, leading to a rise in bond yields and lifting sentiment globally. In the domestic market, consumer goods giant Hindustan Unilever surged over 5 per cent to a record close of 2260.35 rupees and boosted the Nifty FMCG index, up 1.88 per cent. Financial stocks were also among top contributors to gains for the day, with the Nifty financials index gaining 0.66 per cent. Meanwhile, Yes Bank was the day's top laggard, ending 4.5 per cent lower.

Sensex, Nifty end higher as coronavirus fears abate

Indian shares ended lower on Thursday, led by losses in metal and state-owned banking stocks, as worries over the economic impact of the coronavirus weighed on sentiment and as markets waited for the release of the country's federal budget on Saturday.

The NSE <a href="https://www.wionews.com/business-economy/nifty-closes-at-12130-tata-motors-top-performer-277344">Nifty</a> 50 index closed down 0.77 per cent&nbsp;at 12,035.80, while the S&amp;P BSE&nbsp;<a href="https://www.wionews.com/business-economy/nifty-sensex-fall-for-second-day-as-china-virus-fears-persist-277102">Sensex&nbsp;</a>ended 0.69 per cent lower at 40,913.82.

Also read: <a href="https://www.wionews.com/india-news/coronavirus-outbreak-in-india-kerala-reports-first-confirmed-case-277500">Coronavirus: First confirmed case in India, Kerala student tests positive</a>

India reported its first case of the new coronavirus on Thursday, saying a student in Kerala had tested positive for the virus that originated in <a href="https://www.wionews.com/videos/coronavirus-death-toll-rises-to-170-in-china-277445">China</a> and has killed 170 people so far.

Investor fears of the impact of the fast-spreading virus have led them to offload riskier equities and turn to safe-haven assets such as gold and bonds.

The Nifty state-owned banking index closed down 1.32 per cent, while the metals index was down 1.39 per cent.

<a href="https://www.wionews.com/business-economy/board-member-at-yes-bank-quits-cites-governance-concerns-273443">Yes Bank </a>led losses among the blue-chip stocks, falling 5.22 per cent, while <a href="https://www.wionews.com/business-economy/bajaj-auto-reports-9-fall-in-vehicle-sales-during-october-259184">Bajaj Auto</a>, the top gainer, rose 1.74&nbsp;per cent.

Indian shares ended lower on Thursday, led by losses in metal and state-owned banking stocks, as worries over the economic impact of the coronavirus weighed on sentiment and as markets waited for the release of the country's federal budget on Saturday.

Indian shares ended lower on Thursday, led by losses in metal and state-owned banking stocks, as worries over the economic impact of the coronavirus weighed on sentiment and as markets waited for the release of the country's federal budget on Saturday. The NSE Nifty 50 index closed down 0.77 per cent at 12,035.80, while the S&P BSE Sensex ended 0.69 per cent lower at 40,913.82. Also read: Coronavirus: First confirmed case in India, Kerala student tests positive India reported its first case of the new coronavirus on Thursday, saying a student in Kerala had tested positive for the virus that originated in China and has killed 170 people so far. Investor fears of the impact of the fast-spreading virus have led them to offload riskier equities and turn to safe-haven assets such as gold and bonds. The Nifty state-owned banking index closed down 1.32 per cent, while the metals index was down 1.39 per cent. Yes Bank led losses among the blue-chip stocks, falling 5.22 per cent, while Bajaj Auto, the top gainer, rose 1.74 per cent.

Sensex, Nifty end lower on coronavirus fears; metals drag

<a href="https://www.wionews.com/business-economy/it-stocks-propel-indian-shares-to-all-time-peaks-268818">Indian shares</a> ended firmer on Friday, with banking stocks leading gains, as investors assessed a raft of corporate earnings and awaited the release of the federal budget next week.

The <a href="https://www.wionews.com/business-economy/nifty-sensex-inch-lower-zee-top-gainer-in-nifty-50-263548">NSE Nifty 50 Index</a> ended 0.56 per cent&nbsp;higher at 12,248.25, while the S&amp;P BSE&nbsp;Sensex&nbsp;closed down 0.55&nbsp;per cent&nbsp;at 41,613.19.

However, poorly received financial results from a few index heavyweights dragged the Nifty 0.84&nbsp;per cent&nbsp;lower this week, while analysts also expected markets to remain volatile until the federal budget on February&nbsp;1, which could include government measures to revive economic growth.

Ultratech Cement Ltd, a Nifty component, gained 2.6&nbsp;per cent&nbsp;after reporting on Friday an increase in its profit for the quarter ended December.

The Nifty banking index ended 0.77&nbsp;per cent&nbsp;firmer, with <a href="https://www.wionews.com/business-economy/kotak-mahindra-bank-q4-profit-rises-14-to-rs-2038-crore-214769">Kotak Mahindra Bank</a> closing 2.3&nbsp;per cent&nbsp;higher. Private-sector lender <a href="https://www.wionews.com/business-economy/board-member-at-yes-bank-quits-cites-governance-concerns-273443">Yes Bank</a> was the top gainer in the index with a 4.5&nbsp;per cent&nbsp;jump. Yes Bank stock, which rose for the third consecutive session, dropped 9&nbsp;per cent&nbsp;so far this year.

Indian shares ended firmer on Friday, with banking stocks leading gains, as investors assessed a raft of corporate earnings and awaited the release of the federal budget next week.

Indian shares ended firmer on Friday, with banking stocks leading gains, as investors assessed a raft of corporate earnings and awaited the release of the federal budget next week. The NSE Nifty 50 Index ended 0.56 per cent higher at 12,248.25, while the S&P BSE Sensex closed down 0.55 per cent at 41,613.19. However, poorly received financial results from a few index heavyweights dragged the Nifty 0.84 per cent lower this week, while analysts also expected markets to remain volatile until the federal budget on February 1, which could include government measures to revive economic growth. Ultratech Cement Ltd, a Nifty component, gained 2.6 per cent after reporting on Friday an increase in its profit for the quarter ended December. The Nifty banking index ended 0.77 per cent firmer, with Kotak Mahindra Bank closing 2.3 per cent higher. Private-sector lender Yes Bank was the top gainer in the index with a 4.5 per cent jump. Yes Bank stock, which rose for the third consecutive session, dropped 9 per cent so far this year.

Nifty, Sensex close higher, banking stocks shine

India's main stock indexes closed at record highs on Monday as the expected signing of a Phase 1 <a href="https://www.wionews.com/world/china-us-had-constructive-phone-call-on-trade-report-262656">China-US</a>&nbsp;trade deal and strong results from IT bellwether <a href="https://www.wionews.com/business-economy/equity-indices-edge-up-infosys-profit-jumps-by-4-pc-on-good-q3-results-273855">Infosys Ltd</a> helped boost sentiment.

<a href="https://www.wionews.com/business-economy/equity-indices-edge-up-infosys-profit-jumps-by-4-pc-on-good-q3-results-273855">Also read:&nbsp;Equity indices edge up, Infosys profit jumps by 4 % on good Q3 results</a>

Investors awaited retail inflation data for December, due later in the day. At an expected 6.20 percent&nbsp;according to a Reuters poll, inflation is set to hit its highest in more than five years.

"Rising inflation after December has been priced in by the market because toward the end of the year (2019) we had seen upticks in inflation," said Anand James, chief market strategist at Geojit Financial Services.

The Nifty 50 Index ended 0.59&nbsp;percent higher at 12,329.55, while the benchmark S&amp;P BSE&nbsp;Sensex&nbsp;Index jumped 0.62&nbsp;percent&nbsp;to 41,859.69.

Both indexes had touched intraday all-time peaks at 12,337.75 and 41,889.63, respectively, earlier in the session.

Infosys' shares ended 4.8&nbsp;percent higher, making it the biggest gainer on the Nifty after the IT bellwether beat quarterly profit estimates and cleared its top executives of financial misconduct allegations. The Nifty IT index closed 1.67&nbsp;percent higher.

<a href="https://www.wionews.com/business-economy/board-member-at-yes-bank-quits-cites-governance-concerns-273443">Yes Bank Ltd</a> ended 5.92&nbsp;percent&nbsp;lower and led the losses on the Nifty.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/board-member-at-yes-bank-quits-cites-governance-concerns-273443">Board member at Yes Bank quits, cites governance concerns</a>

The private sector lender on Friday rejected a $1.2 billion investment from Canadian investor Erwin Singh Braich and Hong Kong-based SPGP Holdings and launched a $1.4 billion share sale.

Shares of <a href="https://www.wionews.com/business-economy/indian-markets-steady-in-early-trade-ahead-of-cabinet-meeting-inflation-figures-261732">Britannia Industries</a> and <a href="https://www.wionews.com/business-economy/indias-consumer-goods-growth-slows-as-rural-demand-cools-nielsen-236908">Hindustan Unilever Ltd</a> gained 1.85&nbsp;percent&nbsp;and 2.1 percent.

<a href="https://www.wionews.com/business-economy/sensex-crashes-by-788-points-on-us-iran-tensions-banks-and-auto-companies-bleed-272541">IndusInd Bank</a> Ltd ended 3.25&nbsp;percent&nbsp;higher ahead of its quarterly results on Tuesday and was the second-biggest gainer on the Nifty.

India's main stock indexes closed at record highs on Monday as the expected signing of a Phase 1 China-US trade deal and strong results from IT bellwether Infosys Ltd helped boost sentiment.

India's main stock indexes closed at record highs on Monday as the expected signing of a Phase 1 China-US trade deal and strong results from IT bellwether Infosys Ltd helped boost sentiment. Also read: Equity indices edge up, Infosys profit jumps by 4 % on good Q3 results Investors awaited retail inflation data for December, due later in the day. At an expected 6.20 percent according to a Reuters poll, inflation is set to hit its highest in more than five years. "Rising inflation after December has been priced in by the market because toward the end of the year (2019) we had seen upticks in inflation," said Anand James, chief market strategist at Geojit Financial Services. The Nifty 50 Index ended 0.59 percent higher at 12,329.55, while the benchmark S&P BSE Sensex Index jumped 0.62 percent to 41,859.69. Both indexes had touched intraday all-time peaks at 12,337.75 and 41,889.63, respectively, earlier in the session. Infosys' shares ended 4.8 percent higher, making it the biggest gainer on the Nifty after the IT bellwether beat quarterly profit estimates and cleared its top executives of financial misconduct allegations. The Nifty IT index closed 1.67 percent higher. Yes Bank Ltd ended 5.92 percent lower and led the losses on the Nifty. Also read: Board member at Yes Bank quits, cites governance concerns The private sector lender on Friday rejected a $1.2 billion investment from Canadian investor Erwin Singh Braich and Hong Kong-based SPGP Holdings and launched a $1.4 billion share sale. Shares of Britannia Industries and Hindustan Unilever Ltd gained 1.85 percent and 2.1 percent. IndusInd Bank Ltd ended 3.25 percent higher ahead of its quarterly results on Tuesday and was the second-biggest gainer on the Nifty.

Nifty, Sensex end on record highs on Infosys, US-China trade deal optimism

Uttam Prakash Agarwal, an independent board member with Yes Bank Ltd, resigned from the lender's board and stepped down as head of its audit committee on Friday, citing major corporate governance concerns at the troubled lender.

Agarwal, in a resignation letter seen by Reuters, said there were "serious concerns" around deteriorating corporate governance standards, along with compliance failures, at the bank.

The allegations against the country's fifth-largest private lender by assets could spell more trouble for the bank, and the news sent its stock tumbling 5 percent&nbsp;on Friday.

Yes Bank's shares fell nearly 75 percent&nbsp;last year, as non-performing assets on its books have risen sharply.

Delays in the bank's plans to raise a <a href="https://www.wionews.com/business-economy/yes-bank-seeks-up-to-2-billion-in-preferential-new-share-issue-265494">substantial sum</a> of fresh capital have also spooked <a href="https://www.wionews.com/business-economy/yes-bank-in-talks-with-microsoft-other-tech-firms-to-sell-up-to-15-stake-report-254145">investors</a>. The bank has since November been talking about raising up to $2 billion in funds.

Agarwal was appointed to the board in November 2018 by the lender's former managing director Rana Kapoor.

Agarwal in his resignation letter raised concerns about the management practices of the bank's senior leadership team, and said he had shared his concerns with all the relevant regulatory authorities.

His resignation came just ahead of a Yes Bank board meeting on Friday to discuss its fundraising plans.

Uttam Prakash Agarwal, an independent board member with Yes Bank Ltd, resigned from the lender's board and stepped down as head of its audit committee on Friday, citing major corporate governance concerns at the troubled lender.

Uttam Prakash Agarwal, an independent board member with Yes Bank Ltd, resigned from the lender's board and stepped down as head of its audit committee on Friday, citing major corporate governance concerns at the troubled lender. Agarwal, in a resignation letter seen by Reuters, said there were "serious concerns" around deteriorating corporate governance standards, along with compliance failures, at the bank. The allegations against the country's fifth-largest private lender by assets could spell more trouble for the bank, and the news sent its stock tumbling 5 percent on Friday. Yes Bank's shares fell nearly 75 percent last year, as non-performing assets on its books have risen sharply. Delays in the bank's plans to raise a substantial sum of fresh capital have also spooked investors. The bank has since November been talking about raising up to $2 billion in funds. Agarwal was appointed to the board in November 2018 by the lender's former managing director Rana Kapoor. Agarwal in his resignation letter raised concerns about the management practices of the bank's senior leadership team, and said he had shared his concerns with all the relevant regulatory authorities. His resignation came just ahead of a Yes Bank board meeting on Friday to discuss its fundraising plans.

Board member at Yes Bank quits, cites governance concerns

Bulls regained control on the D-Street amid softening crude oil prices on Thursday following optimism in global markets after US President <a href="https://www.wionews.com/opinions/donald-trumps-attitude-towards-india-unpredictable-unreliable-238560">Donald Trump</a>'s comments on the Iran conflict eased worries and improved risk appetite.

The cooling off of oil prices lifted market sentiment as India imports more than 85 per cent of its requirement. The international benchmark Brent crude futures fell by 4.1 per cent amid volatility in the previous session and traded around 65 dollars a barrel.

The rally was also be attributed to expectations as the government is readying a set of bold initiatives to be announced in the Union Budget for 2020-21 which could bring a quick turnaround in the economy.

The BSE S&amp;P Sensex closed 634 points or 1.55 per cent higher at 41,451 while the <a href="https://www.wionews.com/business-economy/nifty-sensex-inch-lower-zee-top-gainer-in-nifty-50-263548">Nifty 50</a> moved up by 188 points at 12,214.

Except for Nifty IT, all sectoral indices at the National Stock Exchange were in the green with Nifty realty ticking up by 2.73 per cent, auto by 2.68 per cent, PSU bank by 2.41 per cent and metal by 1.43 per cent.

Among stocks, JSW Steel was the top gainer at Rs 278 per share, up by 5.9 per cent. Private lenders <a href="https://www.wionews.com/business-economy/lower-provisions-help-icici-bank-swing-to-first-quarter-profit-238840">ICICI Bank</a>, IndusInd Bank and Yes Bank advanced by 3.7 per cent, 3.3 per cent and 2.9 per cent respectively while state-owned State Bank of India ticked up by 3.2 per cent.

Auto majors Tata Motors, Mahindra &amp; Mahindra and Maruti gained by 5.4 per cent, 3.2 per cent and 2.9 per cent. Shares of Reliance Industries rose by 2.25 per cent at Rs 1,547.95 after Morgan Stanley said it expects strong growth in its retail and telecom businesses.

However, IT majors Tata Consultancy Services and <a href="https://www.wionews.com/business-economy/market-rebounds-on-easing-crude-firming-rupee-hcl-tech-cracks-6-points-182083">HCL Technologies</a> showed marginal losses along with Coal India, GAIL and Britannia.

Meanwhile, Asian stocks rebounded as the United States and Iran backed away from the brink of further conflict in the Middle East.

Trump responded overnight to an Iranian attack on US forces with sanctions, not violence. Iran offered no immediate signal it will retaliate further over a January 3 US strike that killed one of its senior military commanders.

Japan's Nikkei rose by 2.31 per cent, lifting stocks to their highest for the year so far. Hong Kong's Hang Seng climbed up by 1.68 per cent while South Korea's Kospi inched up by 1.63 per cent.

The Shanghai Composite index too moved up by 0.91 per cent after the government announced that China's Vice Premier Liu He, head of the country's negotiation team in US-China trade talks, will sign phase one of the deal in Washington next week.

Bulls regained control on the D-Street amid softening crude oil prices on Thursday following optimism in global markets after US President Donald Trump's comments on the Iran conflict eased worries and improved risk appetite.

Bulls regained control on the D-Street amid softening crude oil prices on Thursday following optimism in global markets after US President Donald Trump's comments on the Iran conflict eased worries and improved risk appetite. The cooling off of oil prices lifted market sentiment as India imports more than 85 per cent of its requirement. The international benchmark Brent crude futures fell by 4.1 per cent amid volatility in the previous session and traded around 65 dollars a barrel. The rally was also be attributed to expectations as the government is readying a set of bold initiatives to be announced in the Union Budget for 2020-21 which could bring a quick turnaround in the economy. The BSE S&P Sensex closed 634 points or 1.55 per cent higher at 41,451 while the Nifty 50 moved up by 188 points at 12,214. Except for Nifty IT, all sectoral indices at the National Stock Exchange were in the green with Nifty realty ticking up by 2.73 per cent, auto by 2.68 per cent, PSU bank by 2.41 per cent and metal by 1.43 per cent. Among stocks, JSW Steel was the top gainer at Rs 278 per share, up by 5.9 per cent. Private lenders ICICI Bank, IndusInd Bank and Yes Bank advanced by 3.7 per cent, 3.3 per cent and 2.9 per cent respectively while state-owned State Bank of India ticked up by 3.2 per cent. Auto majors Tata Motors, Mahindra & Mahindra and Maruti gained by 5.4 per cent, 3.2 per cent and 2.9 per cent. Shares of Reliance Industries rose by 2.25 per cent at Rs 1,547.95 after Morgan Stanley said it expects strong growth in its retail and telecom businesses. However, IT majors Tata Consultancy Services and HCL Technologies showed marginal losses along with Coal India, GAIL and Britannia. Meanwhile, Asian stocks rebounded as the United States and Iran backed away from the brink of further conflict in the Middle East. Trump responded overnight to an Iranian attack on US forces with sanctions, not violence. Iran offered no immediate signal it will retaliate further over a January 3 US strike that killed one of its senior military commanders. Japan's Nikkei rose by 2.31 per cent, lifting stocks to their highest for the year so far. Hong Kong's Hang Seng climbed up by 1.68 per cent while South Korea's Kospi inched up by 1.63 per cent. The Shanghai Composite index too moved up by 0.91 per cent after the government announced that China's Vice Premier Liu He, head of the country's negotiation team in US-China trade talks, will sign phase one of the deal in Washington next week.

Sensex jumps 634 points as US-Iran tensions ease, auto and realty stocks gain

<a href="https://www.wionews.com/business-economy/sensex-hits-all-time-high-of-41798-nifty-at-a-record-peak-of-12272-269276">Indian&nbsp;shares</a>&nbsp;were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while&nbsp;Yes&nbsp;Bank&nbsp;and&nbsp;Indiabulls&nbsp;Real&nbsp;Estate&nbsp;gained.

Indian&nbsp;stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers.

Optimism that a <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">US-China trade deal</a> would revive exports and boost corporate earnings helped Wall Street&nbsp;rise&nbsp;to record closing highs on Monday, but <a href="https://www.wionews.com/business-economy/asian-shares-near-18-month-high-bask-in-trade-deal-afterglow-269696">Asian&nbsp;shares</a>&nbsp;darted in and out of losses on Tuesday amid a holiday lull.

The Nifty was up 0.03 per cent&nbsp;at 12,266.60 by 0434 GMT, while the Sensex ticked up 0.02 per cent to 41,648.96.

"The Nifty is&nbsp;likely to stay range bound between 12,150 to 12,350 zones while stock specific action is&nbsp;likely to continue in near term," analysts at Motilal Oswal wrote in a report.

On the <a href="https://www.wionews.com/business-economy/nifty-sensex-end-flat-ahead-on-holidays-psu-banks-offset-auto-gains-269730">Nifty</a> 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent&nbsp;rise, while HCL Technologies Ltd fell the most.

Shares&nbsp;in&nbsp;<a href="https://www.wionews.com/business-economy/nifty-sensex-end-higher-it-auto-stocks-gain-269174">Yes&nbsp;Bank</a>, down 26 per cent&nbsp;so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent.

Indiabulls&nbsp;Real&nbsp;Estate's stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained.

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained. Indian stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers. Optimism that a US-China trade deal would revive exports and boost corporate earnings helped Wall Street rise to record closing highs on Monday, but Asian shares darted in and out of losses on Tuesday amid a holiday lull. The Nifty was up 0.03 per cent at 12,266.60 by 0434 GMT, while the Sensex ticked up 0.02 per cent to 41,648.96. "The Nifty is likely to stay range bound between 12,150 to 12,350 zones while stock specific action is likely to continue in near term," analysts at Motilal Oswal wrote in a report. On the Nifty 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent rise, while HCL Technologies Ltd fell the most. Shares in Yes Bank, down 26 per cent so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent. Indiabulls Real Estate's stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

Sensex, Nifty open flat; Yes Bank, Indiabulls Real Estate rise

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors.

The plan, announced late on Friday, would see the country's fifth-largest private sector bank by assets seek to sell new stock worth close to its existing market capitalisation of $2.4 billion at the close of trading on Friday.

As a major part of the plan, Yes Bank said it is in talks on a deal to sell shares worth $1.2 billion to Canadian billionaire Erwin Singh Braich and Hong Kong-based SPGP Holdings, which he backs. The bank said it expected those talks to close shortly.

SPGP Holdings did not immediately respond to a request for comment.

Shares of the Mumbai-based Yes Bank closed 2.5% lower ahead of the announcement on Friday. Its stock has risen about 20% since it said late in October it got a binding offer to buy shares of $1.2 billion from an unidentified global investor.

In its announcement, Yes Bank said other investors who have committed to buying shares include Discovery Capital, Aditya Birla Family Office from India and Citax Holdings Ltd &amp; Citax Investment Group.

Discovery did not immediately respond to a request for comment, while Aditya Birla Family Office and Citax weren't immediately reachable.

It also said a leading US&nbsp;fund house would subscribe, saying the name of the investor would be disclosed early next week.

Yes Bank's board of directors will meet on Dec. 10 to "finalise and approve the details of the preferential allotment and convene an extraordinary general meeting subsequently, to obtain the approval of the shareholders," it said.

The preferential allotment will also be subject to regulatory clearance. The approval of the Reserve Bank of India is needed to buy a stake of more than 5% in domestic banks.

Banking analysts say most of the funds raised by Yes Bank will be used to provide for bad loans. The lender's gross bad loans as a percentage of total loans - a measure of asset quality - spiked to 7.39% in last quarter.

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors.

Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors. The plan, announced late on Friday, would see the country's fifth-largest private sector bank by assets seek to sell new stock worth close to its existing market capitalisation of $2.4 billion at the close of trading on Friday. As a major part of the plan, Yes Bank said it is in talks on a deal to sell shares worth $1.2 billion to Canadian billionaire Erwin Singh Braich and Hong Kong-based SPGP Holdings, which he backs. The bank said it expected those talks to close shortly. SPGP Holdings did not immediately respond to a request for comment. Shares of the Mumbai-based Yes Bank closed 2.5% lower ahead of the announcement on Friday. Its stock has risen about 20% since it said late in October it got a binding offer to buy shares of $1.2 billion from an unidentified global investor. In its announcement, Yes Bank said other investors who have committed to buying shares include Discovery Capital, Aditya Birla Family Office from India and Citax Holdings Ltd & Citax Investment Group. Discovery did not immediately respond to a request for comment, while Aditya Birla Family Office and Citax weren't immediately reachable. It also said a leading US fund house would subscribe, saying the name of the investor would be disclosed early next week. Yes Bank's board of directors will meet on Dec. 10 to "finalise and approve the details of the preferential allotment and convene an extraordinary general meeting subsequently, to obtain the approval of the shareholders," it said. The preferential allotment will also be subject to regulatory clearance. The approval of the Reserve Bank of India is needed to buy a stake of more than 5% in domestic banks. Banking analysts say most of the funds raised by Yes Bank will be used to provide for bad loans. The lender's gross bad loans as a percentage of total loans - a measure of asset quality - spiked to 7.39% in last quarter.

Yes Bank seeks up to $2 billion in preferential new share issue

Equity indices pulled back during early hours on Wednesday in line with Asian peers as investors awaited fresh developments on the outcome of US-China trade talks.

At 10:15 am, the BSE S&amp;P Sensex was down by 186 points at 40,062 while the Nifty 50 edged lower by 58 points to 11,859.

Sectoral indices at the National Stock Exchange were mixed with Nifty realty gaining 2.4 points and pharma by 1.4 points. Nifty auto lost by 0.5 per cent and private bank by 0.4 per cent.

Among stocks, Titan tumbled by 7.8 per cent to Rs 1,182.85 per share. Bharti Infratel, Bharti Airtel, HCL Technologies and Axis Bank too were in the red.

Among the gainers were pharma majors like Cipla, Dr Reddy's and Sun Pharma besides Yes Bank, Mahindra &amp; Mahindra, Tech Mahindra, Coal India and Bharat Petroleum Corporation.

Meanwhile, Asian shares were little changed as investors awaited new developments toward scaling back a protracted trade war between the United States and China.

MSCI's broadest index of Asia Pacific shares outside Japan was unchanged while Japan's Nikkei stock index rose by 0.35 per cent. Hong Kong's Hang Seng was down by 0.08 per cent and South Korea's Kospi by 0.02 per cent. 
 
&nbsp;

Equity indices pulled back during early hours on Wednesday in line with Asian peers as investors awaited fresh developments on the outcome of US-China trade talks.

Equity indices pulled back during early hours on Wednesday in line with Asian peers as investors awaited fresh developments on the outcome of US-China trade talks. At 10:15 am, the BSE S&P Sensex was down by 186 points at 40,062 while the Nifty 50 edged lower by 58 points to 11,859. Sectoral indices at the National Stock Exchange were mixed with Nifty realty gaining 2.4 points and pharma by 1.4 points. Nifty auto lost by 0.5 per cent and private bank by 0.4 per cent. Among stocks, Titan tumbled by 7.8 per cent to Rs 1,182.85 per share. Bharti Infratel, Bharti Airtel, HCL Technologies and Axis Bank too were in the red. Among the gainers were pharma majors like Cipla, Dr Reddy's and Sun Pharma besides Yes Bank, Mahindra & Mahindra, Tech Mahindra, Coal India and Bharat Petroleum Corporation. Meanwhile, Asian shares were little changed as investors awaited new developments toward scaling back a protracted trade war between the United States and China. MSCI's broadest index of Asia Pacific shares outside Japan was unchanged while Japan's Nikkei stock index rose by 0.35 per cent. Hong Kong's Hang Seng was down by 0.08 per cent and South Korea's Kospi by 0.02 per cent.

Sensex, Nifty fall in early trade, Asian shares little changed

&nbsp;Yes Bank Ltd said&nbsp;on Thursday it has received a binding offer of $1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares, sending its stock 39 percent higher.

The bank said it was in advanced talks with other investors as well.

The lender's Chief Executive Officer Ravneet Gill had said in September that the bank was close to securing a deal to sell a minority stake to a <a href="https://www.wionews.com/business-economy/yes-bank-in-talks-with-microsoft-other-tech-firms-to-sell-up-to-15-stake-report-254145">global technology company</a>.

News channel CNBC TV18 said citing sources that Hong Kong-based SPGP Holdings was the investor and that the bank's board was likely to consider all proposals on Nov. 1, when it is due to report quarterly results.

Yes Bank did not immediately respond to Reuters' request for details on the offer.

In August, Yes Bank raised nearly $275 million via a qualified institutional placement, a capital-raising tool commonly used in India, to improve its capital adequacy ratio.

The Bank's shares have lost 68.8 percent&nbsp;of their value so far this year, weighed down by its exposure to Jet Airways, infrastructure conglomerate IL&amp;FS, a multi-fold rise in provisions for loan losses and as its asset quality deteriorated sharply.

Yes Bank Ltd said on Thursday it has received a binding offer of $1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares, sending its stock 39 percent higher.

Yes Bank Ltd said on Thursday it has received a binding offer of $1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares, sending its stock 39 percent higher. The bank said it was in advanced talks with other investors as well. The lender's Chief Executive Officer Ravneet Gill had said in September that the bank was close to securing a deal to sell a minority stake to a global technology company. News channel CNBC TV18 said citing sources that Hong Kong-based SPGP Holdings was the investor and that the bank's board was likely to consider all proposals on Nov. 1, when it is due to report quarterly results. Yes Bank did not immediately respond to Reuters' request for details on the offer. In August, Yes Bank raised nearly $275 million via a qualified institutional placement, a capital-raising tool commonly used in India, to improve its capital adequacy ratio. The Bank's shares have lost 68.8 percent of their value so far this year, weighed down by its exposure to Jet Airways, infrastructure conglomerate IL&FS, a multi-fold rise in provisions for loan losses and as its asset quality deteriorated sharply.

Yes Bank gets $1.2 billion offer from global investor

Equity benchmark indices extended morning gains on Friday and ended with gains of 0.6 per cent as global peers slumped after <a href="https://www.wionews.com/world/chinas-q3-gdp-growth-slows-to-6-slowest-in-27-years-256577">China`s GDP growth slipped</a> to a 27-year low of 6 per cent in the third quarter of 2019.

The BSE S&amp;P Sensex closed 246 points higher at 39,298 while the Nifty 50 was up 76 points at 11,662. All sectoral indices at the National Stock Exchange (NSE) were in the positive zone except for Nifty media, which dropped by one per cent.

Nifty realty gained by 1.9 per cent, metal by 1.8 per cent and pharma by nearly 1 per cent.Among stocks, Indiabulls Housing Finance closed with a gain of 17.42 per cent at Rs 231.50 on BSE after the company offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December.

Private lender Yes Bank was up by 8.2 per cent, Coal India by 3.3 per cent, Adani Ports by 3.2 per cent and Maruti by 3.1 per cent.

The other prominent gainers were Grasim, Nestle India, Power Grid Corporation, Larsen &amp; Toubro, Bharat Petroleum Corporation and Titan.However, those which lost were Zee Entertainment, Tata Motors, Cipla, Eicher Motors and Hindalco.

Meanwhile, Asian stocks tumbled after China`s economic growth slowed more than expected to 6 per cent year-on-year in the third quarter of 2019, marking the weakest pace in nearly three decades.

Shanghai Composite fell by 1.3 per cent which Hong Kong`s Hang Seng slid by 0.48 per cent and South Korea`s Kospi by 0.8 per cent. Japan`s Nikkei was up marginally by 0.18 per cent.

Equity benchmark indices extended morning gains on Friday and ended with gains of 0.6 per cent as global peers slumped after China`s GDP growth slipped to a 27-year low of 6 per cent in the third quarter of 2019.

Equity benchmark indices extended morning gains on Friday and ended with gains of 0.6 per cent as global peers slumped after China`s GDP growth slipped to a 27-year low of 6 per cent in the third quarter of 2019. The BSE S&P Sensex closed 246 points higher at 39,298 while the Nifty 50 was up 76 points at 11,662. All sectoral indices at the National Stock Exchange (NSE) were in the positive zone except for Nifty media, which dropped by one per cent. Nifty realty gained by 1.9 per cent, metal by 1.8 per cent and pharma by nearly 1 per cent.Among stocks, Indiabulls Housing Finance closed with a gain of 17.42 per cent at Rs 231.50 on BSE after the company offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December. Private lender Yes Bank was up by 8.2 per cent, Coal India by 3.3 per cent, Adani Ports by 3.2 per cent and Maruti by 3.1 per cent. The other prominent gainers were Grasim, Nestle India, Power Grid Corporation, Larsen & Toubro, Bharat Petroleum Corporation and Titan.However, those which lost were Zee Entertainment, Tata Motors, Cipla, Eicher Motors and Hindalco. Meanwhile, Asian stocks tumbled after China`s economic growth slowed more than expected to 6 per cent year-on-year in the third quarter of 2019, marking the weakest pace in nearly three decades. Shanghai Composite fell by 1.3 per cent which Hong Kong`s Hang Seng slid by 0.48 per cent and South Korea`s Kospi by 0.8 per cent. Japan`s Nikkei was up marginally by 0.18 per cent.

Sensex ends 246 points higher, Yes Bank climbs by 8%

Indian shares were largely unchanged on Wednesday, as global equities took a beating after US-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results.

Broader Asian peers fell the most in a week as the United States and China's broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.

High-level talks between the world's top two economies on trade are due to resume on Thursday. The negotiations, which have been the global markets' most important catalyst for months, have weighed on investor sentiment.

The broader NSE Nifty was down 0.16% at 11,108.40, as of 0440 GMT, while the benchmark BSE Sensex was 0.17% weaker at 34,467.77.

Company earnings for the year ending March 2020 are expected to receive a boost after the Indian government moved to slash corporate taxes last month to 22% from 30%.

"People are waiting for the start of the Q2 results," said Vinod Nair, head of research at Geojit Financial in Kochi, referring to the fiscal second quarter ended Sept. 30.

"Because of the tax cuts, the prospects for earnings growth look very good," he said.

Financial results from Tata Consultancy Services Ltd are expected on Thursday, marking the start of the quarterly results season.

The biggest laggards in the NSE Nifty were Yes Bank Ltd and Titan Co Ltd.

Yes Bank's shares, which have been volatile over the past few weeks amid stake sales by the lender's promoters and concerns over its exposure to troubled real estate firms, dropped 7.9%.

Titan dived 5.2% after the watch and jewellery maker flagged lean sales and said its managing director of 17 years would step down.

Ultratech Cement Ltd was the top gainer in the NSE Nifty with a 2.5% rise.

Indian shares were largely unchanged on Wednesday, as global equities took a beating after US-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results.

Indian shares were largely unchanged on Wednesday, as global equities took a beating after US-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results. Broader Asian peers fell the most in a week as the United States and China's broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. High-level talks between the world's top two economies on trade are due to resume on Thursday. The negotiations, which have been the global markets' most important catalyst for months, have weighed on investor sentiment. The broader NSE Nifty was down 0.16% at 11,108.40, as of 0440 GMT, while the benchmark BSE Sensex was 0.17% weaker at 34,467.77. Company earnings for the year ending March 2020 are expected to receive a boost after the Indian government moved to slash corporate taxes last month to 22% from 30%. "People are waiting for the start of the Q2 results," said Vinod Nair, head of research at Geojit Financial in Kochi, referring to the fiscal second quarter ended Sept. 30. "Because of the tax cuts, the prospects for earnings growth look very good," he said. Financial results from Tata Consultancy Services Ltd are expected on Thursday, marking the start of the quarterly results season. The biggest laggards in the NSE Nifty were Yes Bank Ltd and Titan Co Ltd. Yes Bank's shares, which have been volatile over the past few weeks amid stake sales by the lender's promoters and concerns over its exposure to troubled real estate firms, dropped 7.9%. Titan dived 5.2% after the watch and jewellery maker flagged lean sales and said its managing director of 17 years would step down. Ultratech Cement Ltd was the top gainer in the NSE Nifty with a 2.5% rise.

Sensex, Nifty flat as investors eye second-quarter results; Yes Bank, Titan drop

Indian private sector lender Yes Bank is in talks with Microsoft Corp and two other technology companies as it looks to bring in a strategic shareholder as part of a strategy to rake in fresh capital, the Mint newspaper reported on Sunday.

Shares of the bank were up 4% in early morning trade, after opening up 9%.

The talks began three weeks ago and could see the bank selling as much as 15% through a fresh equity issue, the newspaper reported, citing two people aware of the discussions.

The bank's chief executive officer, Ravneet Gill, had said last week that the lender was in talks with private equity firms, strategic investors and family offices to raise additional capital.

The stake sale may fetch the bank around 20 billion rupees ($281.61 million) and could help it work on its digital banking and payment system plans, one of the sources told the newspaper.

Yes Bank and Microsoft did not immediately respond to requests for comment on the report.

Indian private sector lender Yes Bank is in talks with Microsoft Corp and two other technology companies as it looks to bring in a strategic shareholder as part of a strategy to rake in fresh capital, the Mint newspaper reported on Sunday.

Indian private sector lender Yes Bank is in talks with Microsoft Corp and two other technology companies as it looks to bring in a strategic shareholder as part of a strategy to rake in fresh capital, the Mint newspaper reported on Sunday. Shares of the bank were up 4% in early morning trade, after opening up 9%. The talks began three weeks ago and could see the bank selling as much as 15% through a fresh equity issue, the newspaper reported, citing two people aware of the discussions. The bank's chief executive officer, Ravneet Gill, had said last week that the lender was in talks with private equity firms, strategic investors and family offices to raise additional capital. The stake sale may fetch the bank around 20 billion rupees ($281.61 million) and could help it work on its digital banking and payment system plans, one of the sources told the newspaper. Yes Bank and Microsoft did not immediately respond to requests for comment on the report.

Yes Bank in talks with Microsoft, other tech firms to sell up to 15% stake: Report

yes-bank

Yes Bank, News on Yes Bank, stories on Yes Bank, articles on Yes Bank, Yes Bank stories at Wion, Yes Bank news, Yes Bank latest news

yes bank