Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. News
  2. Explained

Ola Reaches UK, PNB Q1 Report et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 7, 2018 1:53 PM 2 min read
Editorial

End of Day Wrap-up (Tuesday / Aug 7, 2018) #PNB #NPA #PSB #Sashakt #Ola #UK #SouthWales #GreaterManchester #Pfizer #Viagara #Facebook #FB #China #DidiChuxing #Transfin

Editor's Comment: PNB reports INR940cr loss in Q1 of FY19 vs. profits of INR343cr in same period last year. However, total income rises 4% YoY to INR15,072cr. Gross NPAs improved marginally from 18.38% in Q4 to 18.26% to Q1 of FY19.

 

PSBs will need c. INR1,30,000cr capital to implement Project ‘Sashakt’. The committee led by PNB Chairman, Sunil Mehta has proposed this additional capital to tackle bad loans through AMCs and ARCs, and to invest in Alternative Investment funds for growth and recovery.

 

Ola takes fight to Uber in UK as it gets licence in South Wales and Greater Manchester for operations. Ola has been expanding beyond India, with operations in Australia started less than a year ago.

 

Indian drugmakers on alert to compete as Pfizer patent for Viagra drug in US is set to end in 2020. Companies like Hetero Drugs, Dr. Reddy’s, Aurobindo Pharma etc have also acquired the requisite permissions to compete for the patent in 2020.

 

Facebook asks large US banks to share detailed financial information about customers to increase customer engagement and offerings. Amazon and Google’s parent Alphabet also inquires. Facebook stock prices closed higher 4.45% at $185.7.

 

China-based, Didi Chuxing to invest $1bn in its auto-services business, and will break it off into a separate arm of the company by the name Xiaoju Automobile Solutions. The auto-services business of Didi Chuxing is valued between $2bn-$3bn.