Yes Bank to raise USD 600 million through fixed term notes

Yes Bank, India's fifth  largest private sector bank, on Friday said that it will raise 600 million dollar, equivalent to Rs. 3,830 crore, approx,  via issuance of fixed term notes under its USD 1 billion MTN (Medium Term Note) programme.

Earlier in In December 2017, Yes Bank had established an MTM Programme to raise over Rs 6,400 crore, by issuing debt securities on Private Placement (PP) basis.

As per the approval from its BoD and shareholders, Yes Bank has permission to raise funds up to Rs. 20,000 crore in one or more tranches on PP basis from time to time.

Shares of Yes Bank ended by 2.55% lower at Rs. 350.00 on BSE, while on NSE it settled by 3.58% lower at Rs. 347 on Friday’s closing.

Airline and Agriculture stocks zoom on Budget impact

Finance Minister Arun Jaitley announced in his Budget speech on Thursday that Regional air connectivity scheme will connect 56 unserved airports and 31 unserved helipads. Goveernemnt will also expand capacity of airports by 5- times to cater to one billion trips a year, under a new initiative by the government.

Subsequent on the announcement, stocks of aviation companies such as Jet Airways, Inter Globe Aviation and Spice Jet closed in positive territory. Stocks of Jet Airways gained 2.57% on National Stock Exchange, whereas the shares of Inter Globe Aviation (IndiGo) zoomed marginally by 0.42% on NSE, on Thursday. 

In a top reward to farmers, Jaitley announced fixing the support-price for kharif crops, by 50 per cent higher than the cost of production, together increasing farm credit target for the next fiscal by ten percent to Rs 11.00 lakh crore.

Following the announcement, shares of NACL Industries zoomed, 2.25%, PI Industries rose 2.49%, Action Construction Equipment spiked 2.59%, Aries Agro rose 0.28% and Monsanto India zoomed 1.81% on the NSE.

M&M brings an Industry First revolution; Mahindra stock rise

Mahindra & Mahindra Ltd (M&M), on Wednesday announced an industry first initiative in the automotive retail space launching of its 'Bring the Showroom Home', which is a mobile based, interactive Virtual Reality (IVR) experience, as unique initiative wherein a customer would get a 360 degree, all-encompassing and immersive virtual show-room experience.

Through an immersive technology experience, the customer can co-create and identify his Mahindra vehicle with any specification, in the convenience and comfort of his home and involve his family in the decision making process.

M&M is laying a bet big on digital connect for driving its passenger vehicle sales in the domestic market. The company, which is currently recording an 8% digital to final showroom sale rate, is buoyant about increasing it to 15% by the fiscal 2018-2019.

The stock Mahindra & Mahindra Ltd today closed at Rs. 765.90, up by 0.13% at National Stock Exchange (NSE).