Niche-bike maker Royal Enfield has tasted success with its experiment of opening micro stores, most of which are focused on the hinterland market, in the hope to reverse the overall downward sales trend.It has so far opened 500 studio stores across the country, and another 300 of them will become operational by the end of the year.Lower cost of setting up and operating a store is the main reason behind the Eicher Motors-controlled company is banking hugely on them. It also has 932 full-sized operational stores that are concentrated heavily in cities.Close "We have 932 large-format stores including the four that were opened in the last quarter. But we said that we need to get into a lot more into the rural areas and thus we came up with this unique concept called the Studio Store. It was so successful in a few areas that by August we added 250 of them and by October, we launched another 250. We have now 500 of them, fantastic response for these," said Vinod … [Read more...] about Royal Enfield takes hinterland route to fight slowdown, opens micro stores
Royal bank of scotland
Yes Bank share price sheds 6% after Moody’s rating downgrade
Shares of Yes Bank shed six percent intraday on December 6 after Moody's downgraded the bank's ratings and assigned a negative outlook.Moody's Investors Service has downgraded the company's long-term foreign currency issuer rating to B2 from Ba3, as per a BSE release.The rating agency has also downgraded the bank's long-term foreign and local currency bank deposit ratings to B2 from Ba3, foreign currency senior unsecured MTN program rating to (P)B2 from (P)Ba3, and baseline credit assessment (BCA) and adjusted BCA to b3 from b1.Close However, it kept outlook on the bank's ratings as negative. related news VST Tillers Tractors share price slips 2% on weak November data Gati share price dips 5% on Allcargo majority stake buy The downgrade of deposit and senior unsecured program ratings takes into account Moody's expectation that the bank's pool of potential stressed assets and low loss absorbing buffers against those assets will add pressure to its … [Read more...] about Yes Bank share price sheds 6% after Moody’s rating downgrade
Stocks in the news: Yes Bank, Tata Motors, M&M, Bank of Baroda, Narayana Hrudayalaya
Here are some stocks that are in the news today:Yes Bank: Moody's downgraded bank's ratings and assigned negative outlook.Allcargo Logistics: The company will buy 1.04 crore shares of Gati at Rs 75 per share and to make an open offer for 26 percent Gati stake at Rs 75 per share.Close VST Tillers: November tractor sales down 10 percent at 568 units against 628 units and power tillers sells down 70 percent 1238 units against 2108 units, YoY related news Weekly Tactical Pick: M&M risk-reward enters favourable terrain Why RBI's status quo was in the offing Bank of Baroda: Board approved raising up to Rs 1,850 crore in Tier-I bonds.Tata Motors: JLR November UK sales fell to 8,199 units against 9,055 units YoY.RBL Bank: QIP closes, raises Rs 2,025 crore at Rs 351 per shareMahindra & Mahindra: The company acquired 36.63 percent of the equity share capital of Meru in the first tranche of investment.Majesco - Aite Group named comapny the top “Best-in-Class” Vendor … [Read more...] about Stocks in the news: Yes Bank, Tata Motors, M&M, Bank of Baroda, Narayana Hrudayalaya
Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty
Andhra Bank share price shed over 3 percent intraday on December 6 after the Reserve Bank of India (RBI) imposed a penalty of Rs 25 lakh.Andhra Bank was fined for failing to comply with RBI’s directions on know your customer (KYC) norms, anti-money laundering standards and opening of current accounts. The bank has already taken necessary preventive measures, the state lender said in a filing to the exchanges."This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with their customers," the RBI said.Close "After considering the reply received from the bank and submissions made during the personal hearing, the RBI came to the conclusion that the aforesaid charges of non-compliance with the RBI directions were sustained and warranted imposition of monetary penalty." related news Shakti Pumps shares fall 3% after CARE revises credit rating Vascon … [Read more...] about Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty
Yes Bank share price sheds 10% after Moody’s rating downgrade
Shares of Yes Bank shed more than 10 percent intraday on December 6 after Moody's downgraded the bank's ratings and assigned a negative outlook.Moody's Investors Service has downgraded the company's long-term foreign currency issuer rating to B2 from Ba3, as per a BSE release.The rating agency has also downgraded the bank's long-term foreign and local currency bank deposit ratings to B2 from Ba3, foreign currency senior unsecured MTN program rating to (P)B2 from (P)Ba3, and baseline credit assessment (BCA) and adjusted BCA to b3 from b1.Close However, it kept outlook on the bank's ratings as negative. related news Shakti Pumps shares fall 3% after CARE revises credit rating Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty Vascon Engineers share price gains 4% on AAI order win The downgrade of deposit and senior unsecured program ratings takes into account Moody's expectation that the bank's pool of potential stressed assets and low … [Read more...] about Yes Bank share price sheds 10% after Moody’s rating downgrade