business
Yes Bank shares go down 30 percent; market ends in red
On the first trading day of the week, Indian stock markets closed in the red mark. On Tuesday, the Sensex dropped 36 points to 39,032, while the Nifty closed 7 points down at 11,748.15 points. During the business, Yes Bank’s shares plummeted more than 30 per cent. In fact, Yes Bank has lost a balance of Rs 1,506 crore in the last quarter of the last financial year. The stock market was closed due to the Lok Sabha elections in Mumbai on Monday. Similarly, on Wednesday, the stock market will be closed due to Maharashtra Day.
Stock status on 30 April
Apart from Yes Bank, IndusInd Bank, Heromoto Corp, Maruti and Power Grid have lost more than 14 per cent. On the other hand, shares of Mahindra and Mahindra, Airtel, Vedanta, Bajaj Auto, ITC, SBI and L & T closed down more than 1 per cent. Talking of the increased stocks, HCL recorded 4 percent increase. In addition, shares of Tata Steel, Infosys and HDFC Bank were also on the green mark.
Airtel Africa’s net profit is $ 8.9 million
Bharti Airtel’s Subsidiary Company Airtel Africa’s net profit was $ 8.9 million in the January-March quarter ending March 31, 2019. Increasing data consumption and penetration of Airtel money has boosted the company’s profits. In the same period a year ago, the company had lost $ 3.3 million.
Airtel Africa reported in its quarterly report that its income increased 6 percent to $ 78.1 million. During January-March of the year 2017-18, the figure was $ 73.6 million. For the entire financial year (2018-19), its profit was 41.2 million dollars. A year ago, in 2017-18, he had lost $ 13.8 million.
Rs. 1,506 crore loss to YES Bank
In the fourth quarter of the fiscal year 2018-19, the Yes Bank of Private Sector has lost a loss of Rs 1,506 crore in the fourth quarter of the financial year ended March 31. During the fourth quarter of the financial year 2017-18 (January-March), the bank had recorded a profit of 1,180 crore rupees.The deficit of the bank has resulted in a loss due to the increase in the provision of loan.
