Yes Ban looking to raise 12,000 Crores by September 2020

Medium sized new generation bank Yes Bank has announced that it is looking to raise 10 to 12,000 Crores through various fund raising plans such as Rights Issue, Qualified Institutional Placement or follow on public offer.

The Bank has to raise minimum 4,000 Cores to meet the regulatory requirement this year.

Meanwhile Yes Bank declared its Q 4 results which showed a profit of more than 2,600 Cores which is very much healthy sign for the days to come for this bank.

We had already initiated a buy call on this bank. People looking for multibagger returns in coming 2 to 3 Years should buy the Yes Bank stock now trading at Rs 27.

The stock is available at very very cheap price due saga of events which has happened in recent pasts but bank is having strong fundamentals and good retail base of clients as well as state of art technological investments which makes is way much ahead than any other banks of our country especially public sector banks.

ED Chargesheets Rana Kapoor & Family in Yes Bank Case

The Enforcement Directorate ( ED ) has filed its first charge sheet in the Yes Bank money laundering case . It has named its founder and former chief executive Mr. Rana Kapoor , his wife and three daughters of family for receiving around 600 Crores of India Rupees kickback in for favouring the questionable loans.

The loans given to several firms including DHFL Indiabulls group became sore of the eye for media and central bureau as the companies to whom loans were sanctioned started to default on their payments.

Analysis :

We have to accept this fact that the technology and innovation which Yes Bank brought to Indian banking industry is really appreciable and world class. All the mobile application based loans companies are using the Cash Management Services of Yes Bank only , and on the larger front the home grown giant cab aggregator OlA cabs along with other several companies involved in payment , collection & reconciliations are using the services of Yes Bank only.

Yes Bank and Kotak bank were the two banks in 2002 which got licence from Reserve Bank of India and both of them got listed on the bourse and given multifarious returns to its shareholders and investors.

It the sheer failure of government  central bank and several other government affiliated agencies which are always known for their waking up after the events happened for not noticing the fallacies in the banks balance sheet and loss of internal control.but as always the blame was put the man who owned and made the Bank to rise to a good respectable and reputable level.

Should you invest in Yes Bank shares now ?

Our first answer is Yes to Yes Bank shares now.The stock is trading at Rs 28 on Bombay Stock Exchange at closing hours today.

Its like a gold mine share now , with balance sheet getting cleared from the previous glitches in a quarter or two and strong presence of now default retail loans will push the profitablity of bank to very good levels.

The stock is available at very very cheap levels as compared to state of art failed public sector banks of our country which are still trading at very high valuations and always given loss to their investors and share holders.

Buy the share of yes bank for target of 60 by December and if you have holding period of 3 years then you will definitely see the levels of 500 very easily.

Reliance Industries Sells further stake in Jio

Reliance Industries Limited said on Monday that it has shall be selling around 1.15% stake in it telecom business Reliance Jio unit Jio Platforms Limited to PE ( Private Equity ) investor Silver Lake Partners for INR Appx. 5,650 Crores.

Last week only RIL had sold around 10% stake to United States social media giant Facebook.

The fund received through the stake sale will be used to pare the debt of the parent Reliance Industries which has sought to become debt free by year 2021.

Delhi High Court gives interim relief to Indiabulls Housing Finance

A division bench of the Delhi High court on Wednesday stayed an interi order of a single-judge bench that has prohibited coercive action against mortgage lender Indiabulls Houisng Finance Ltd (IHFL) for failing to pay its dues to non-covertible debentures ( NCD ) holders.

The two - judge bench of the Delhi High Court has listed case for final arguments on May 4, 2020

Also Read : Is Indiabulls Housing Finance worth investing now

Vodafone Idea to get INR 733 Crores tax Refund

In an good news for India's Telecom giant after so many years of operation in India, the Supreme Court on Wednesday directed government to refund 733 Crores to Vodafone Idea Ltd in a tax case related to the year ended March 2015 for which assessment has been completed but dismissed the company's plea seeking refunds for three years following that as scrutiny of tax filings is pending.

Also Read our Article : Is Vodafone Idea stock worth investing now ?

Bombay Stock Exchange allows commodity derivatives to trade in Negative

The oldest stock exchange of Asia Bombay Stock Exchange ( BSE ) has made changes in its system to allow for trading in commodity derivatives at negative prices, following the collapse of Unites States crude oil futures last week.

The Indian exchange's BOLT Plus trading system has been modified to accept orders and execute trades at negative prices, BSE said.

The May contract of the West Texas Intermediate ( WTI ) crude has closed at minus $ 37.63 on 20th April as lockdowns following the covid-19 induced lockdown crushed demand for the commodity.