Billionaire investor Rakesh Jhunjhunwala might shelve a plan to invest $25 million in Yes Bank due to uncertainty over the lender's capital raising plans, BusinessLine reports.The owner of Rare Enterprises had planned to invest $25 million in the private sector lender through his wife Rekha Jhunjhunwala's family office, the report said.Moneycontrol could not independently verify the story.Close Jhunjhunwala is expected to release a formal letter regarding the investment on December 10, the report stated."The logic behind not subscribing to Yes Bank's preferential allotment by Jhunjhunwala is that it is higher than the prevailing market price. There is also a lock-in period," a source told the newspaper, adding that the market veteran can instead buy shares at a lower price in the open market without a lock-in period.Yes Bank's shares closed at Rs 56.2 on the BSE on December 9, and the preferential offer is priced at Rs 78. At 09:38 hours, the counter was … [Read more...] about Rakesh Jhunjhunwala may withdraw plan to invest $25mn in Yes Bank; stock down over 3%
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KTM has introduced the much anticipated 390 adventure in India. The off-roader was unveiled at the recently concluded India Bike Week (IBW) and features a host of electronic and mechanical rider aids.The motorcycle shares its engine with the 390 Duke, albeit with BSVI compliance. It makes 44PS of maximum power and 37Nm of peak torque and is mated to a 6-speed manual transmission. The engine also gets a slipper clutch and a bi-directional quickshifter as standard.KTM has also equipped the motorcycle with a lean, sensitive traction control unit, as well as cornering ABS. It gets WP-sourced suspension units on both ends, while the front upside-down fork (USD) is non-adjustable. The rear monoshock can be adjusted for preload as well as rebound. The front wheel has a travel of 170mm, while the rear travels for 177mm. This significantly improves the motorcycle’s off-roading capabilities.Close The 390 Adventure gets a complete LED light setup, along with a windshield and a TFT … [Read more...] about India Bike Week: KTM unveils the much-anticipated 390 Adventure
Jeep is gearing up to update its lineup with BSVI-compliant engines. Among the first is the Compass, which is expected to get a BSVI-compliant petrol engine. The company has not revealed if it will offer the SUV with a diesel engine, but it is speculated that the new petrol motor will be more powerful than its predecessor.A test mule was recently spotted without camouflage, which was equipped with a 1.4-litre, MultiAir petrol unit which makes 170PS of maximum power and 250Nm of peak torque. It was supposedly mated to a 6-speed manual gearbox, which sends power to the front wheels.The Sport variant is expected to be equipped with a 5-inch touchscreen infotainment system with Uconnect, 16-inch steel wheels, quad halogen headlamps, height-adjustable driver’s seat, and remote keyless entry. It should also get safety equipment like driver and passenger airbags, traction control, ABS with EBD and hill assist.Close Currently, the SUV is priced between Rs 14.99 lakh and Rs 23.11 lakh … [Read more...] about Here’s what Jeep is planning to do with Compass in the coming days
Aditya AgarwalaThe Nifty has entered in a narrow sideways trading band with a negative bias after making a new all-time high in November. It formed a bearish dark cloud cover pattern the previous week, suggesting that the bears have started creating shorts as the Index approaches stiff resistance zone of 12,100-12,200.On the downside, however, bulls are protecting the cluster of recent lows placed between 11,800 and 11,880, but a breakdown from this cluster of supports can lead to further selling pressure dragging the index lower to 11,680-11,590.Close On the flip side, if the index continues to take support at 11,880-11,800, a short-covering rally may take the index back towards 12,100-12,200.Aditya AgarwalaSenior Technical Analyst - Institutional Equities|YES Securities Ltd Healthy volume activity makes Britannia, Citi Union Bank among top buys; here’s whyPodcast | Stock picks of the day: Immediate support for Nifty seen at 10,970Podcast | Stock picks of the day: UPL, … [Read more...] about ‘This sugar stock could see a double-digit swing in next 3-4 weeks’
Yamaha’s YZF-R15 V3 recently joined the bandwagon of BSVI-compliant vehicles, as the updated version was launched by the Japanese motorcycle manufacturer yesterday. The motorcycle gets a new colour scheme along with a BSVI-compliant engine.Since Yamaha had to alter the engine to manage its emissions, the new motor makes 0.7 PS and 0.6 Nm less than its predecessor. The BSVI motor makes 18.6 PS of maximum power and 14.7 Nm of peak torque. However, its rev range and torque band remain unchanged. It also carries forward its 6-speed manual transmission with a slip-and-assist clutch.The motorcycle also gets a new radial rear tyre, though the rest of the underpinnings remain the same. It gets a pair of telescopic forks in the front and a monoshock at the back while braking duties are handled by single discs on both ends. The motorcycle also gets a dual-channel ABS unit as standard. The bike also still retains its kerb weight of 142 kilos.Close In addition to the mechanical changes, … [Read more...] about Yamaha launches BSVI YZF-R15: What has changed?