Bharti Airtel, Idea Cellular, Tata Comm hit 52-week lows

Shares of telecom services providers (telcos) are under pressure with all major listed stocks – Bharti Airtel, Idea Cellular and Tata Communications – hitting their respective 52-week lows on the BSE, on concerns of weak earning in June quarter (Q1FY19).
Idea Cellular (down 6% to Rs 49.50), Tata Communications (5% at Rs 543) and Bharti Airtel (3% at Rs 331) were down in the range of 3% to 6%, as compared to 0.32% rise in the S&P BSE Sensex at 11:17 am.

In past one month, these three stocks have fallen in the range of 10% to 20% against 3% rise in the benchmark index.

According to Motilal Oswal Securities, the spillover of the fresh round of undercutting by operators from 4QFY18 to 1QFY19 continued to take a toll on telcos’ revenue.

Further, consolidation in the telecom sector had fuelled the exit of tenancies, leading to higher tenancy cost per operator. This, coupled with installation of cell sites on fresh towers (non-loading) and soaring diesel prices, is expected to increase the QoQ network cost for all operators, the brokerage firm said in Q1FY19 results preview.

Hearing on Section 377 concludes; Supreme Court reserves judgement

The Supreme Court on Tuesday reserved its verdict on a clutch of pleas challenging the constitutional validity of section 377 of Indian Penal Court which criminalises consensual gay sex.

A five-judge constitution bench headed by Chief Justice Dipak Misra concluded hearing the arguments on the contentious issue after detailed hearing of four days, which had commenced on July 10.

The bench, also comprising Justices R F Nariman, A M Khanwilkar, D Y Chandrachud and Indu Malhotra, asked the parties to file written submissions in support of their claims by July 20.

The verdict is likely to be pronounced before October 2 this year as Justice Misra would be retiring as CJI on that day.

Section 377 refers to 'unnatural offences' and says whoever voluntarily has carnal intercourse against the order of nature with any man, woman or animal, shall be punished with imprisonment for life, or with imprisonment of either description for a term which may extend to 10 years, and shall also be liable to pay a fine.

SBI PO Prelims 2018 results out, mains exam on August 4; know details here

The State Bank of India (SBI) has released the result of the Probationary Officer (PO) preliminary examination on July 16, 2018.

The preliminary examination, which was conducted for 100 marks with a duration of 60 minutes, is now out for candidates.
Candidates who appeared for the SBI PO examinations on July 1, July 7 and July 8, 2018, can now check the result on its official website www.sbi.co.in.

Those shortlisted from the prelims will be eligible for the main examination, which will be held on August 4, 2018.

Here's how to check the SBI PO preliminary examination result 2018:
Step 1: Login to the official website of State Bank of India(SBI) www.sbi.co.in.
Step 2: Click on the career tab provided on the page.
Step 3: In the drop-down menu, select SBI PO results.
Step 4: Enter your registration number, date of birth in DD/MM/YY format.
Step 5: Your results can now be downloaded

The SBI PO post examination is conducted in three stages:
Preliminary examination
Mains examination
Interview/Group discussion

Salman Khan, Akshay Kumar among world's 100 highest-paid in showbiz: Forbes

Bollywood actors Akshay Kumar and Salman Khan are among the world's 100 highest paid Actor, according to a Forbes list topped by American boxer Floyd Mayweather.

Akshay is ranked 76th on the Forbes list of the World's Highest Paid Celebrities 2018 while Salman is on the 82nd spot.

Forbes said the world's 100 top-earning entertainers pulled in a combined $6.3 billion pretax over the past 12 months, up 22 per cent from last year and 11 superstars crossed the $100 million thresholds, more than double the number from the last two years combined.

Akshay, 50, had earnings of $40.5 million. Forbes said "one of Bollywood's leading men has transitioned to socially-conscious roles," citing his films such as "Toilet: Ek Prem Katha" that focussed on government campaigns to improve sanitation, and "Padman", about a man hoping to provide inexpensive sanitary pads to rural communities. He also mints millions from profits and endorsing about 20 brands.

YES Bank hits new high; rallies 15% in 9-days on SEBI nod to launch MF biz

Shares of YES Bank hit a new high of Rs 386 per share, rising 2% on the BSE, and moving higher for the ninth straight trading session after the bank said that it has received approval from capital markets regulator SEBI to start mutual fund business. The stock surpassed its previous high of Rs 385 recorded on July 12, 2018 in intra-day trade.
“This approval is subsequent to the Reserve Bank of India’s (RBI) approval granted to Yes Bank to sponsor a mutual fund followed by SEBI’s in-principle approval received subsequently,” the bank said in a statement on July 4, 2018.

In past nine trading sessions, YES Bank has rallied 15% as compared to 2% rise in the S&P BSE Sensex.

Meanwhile, Motilal Oswal Securities expect YES Bank’s loan growth to be significantly ahead of the system at 57% YoY on the back of refinancing opportunities and strong growth in retail banking.