BNP Paribas names Asian stocks to invest in amid outbreak

A boy waves a national flag as his dad holds him and uses a smartphone with a selfie stick to take a photo, both wearing protective masks, in front of the portrait of late communist leader Mao Zedong (R, back) at Tiananmen Gate in Beijing on January 23, 2020. Nicolas Asfouri | AFP | Getty Images The global spread of the new coronavirus has shown little signs of abating, with several analysts warning that the hit to economies worldwide could be more severe than what’s currently expected. “We believe it…

Shilpa Medicare hits fresh 52-week high; stock zooms 89% in a month

Shares of Shilpa Medicare were locked in 5 per cent upper circuit at Rs 491, also its fresh 52-week high, on the BSE on Monday in an otherwise weak market. In the past one month, the pharmaceutical company’s stock has zoomed 89 per cent after reporting a strong set of numbers for the quarter ended December 2019 (Q3FY20). In comparison, the S&P BSE Sensex slipped 2 per cent during the period. Till 11:13 am, a combined 54,630 shares had changed hands on the counter and there…

The most wish-listed Airbnb properties of the past decade

Listings on Airbnb have come a long way since co-founders Brian Chesky and Joe Gebbia rented out air mattresses in their San Francisco apartment for $80 per night. What was then “Air Bed and Breakfast” is now a company with over 7 million listings that include French castles, Mexican bubble domes, American sheep wagons and Finnish igloos. Approximately 2 million people stay in Airbnb properties every night. Here are the most wish-listed homes from the past decade, all of which are still available for rent today. 2019: A modern beach…

Bharti Infratel up 10% post DoT nod to Indus Tower merger; Board meet today

Shares of Bharti Infratel surged 10 per cent to Rs 248.7 on the BSE on Monday after the Department of Telecom (DoT) approved the merger of mobile tower company Indus Towers with Bharti Infratel. Besides, the Board is scheduled to meet today to decide the future course of action. READ STATEMENT HERE At 9:48 am, the stock nearly erased its entire early morning gains and was quoting at Rs 226.75, up 0.29 per cent. In comparison, the benchmark S&P BSE Sensex was at 40,741.95, down 428…

Stocks to watch: Aurobindo Pharma, Bharti Airtel, Infratel, Vodafone Idea

At 08:47 am, Nifty futures on the Singapore Exchange (SGX) were trading 102 points or 0.85 per cent lower at 11,932.50, indicating a negative start for the domestic market on Monday. Here’s a look at the top stocks that may remain in focus today – Aurobindo Pharma: In a surprise development, the US drug regulator FDA revoked the ‘Voluntary Action Initiated’ status issued to Aurobindo Pharma’s plant in Hyderabad, days after indicating it might not pursue further regulatory action. Tobacco companies: According…

Buhari risks legacy as poverty pit swallows more Nigerians

Some three years to the end of his second term at the helm of affairs in Africa’s largest economy, Nigerian President Muhammadu Buhari doesn’t have the numbers on his side if he hopes to be remembered as either an anti-corruption hero, the one who finally diversified an ailing oil economy, or as an economic messiah… This content is for Standard Bi-Annual, Premium Bi-Annual, Standard Yearly, Premium Yearly, Staff, 2 Weeks FREE plan, Standard Bi-Annual USD, Standard Yearly USD, Premium Bi-Annual USD, Premium Yearly USD, BusinessDay/Ready Set Work Premium Yearly (FREE),…

Markets should take note of Zenith Bank’s stellar results

Zenith Bank Plc has traded in a range between N16 per share and N26.2 per share in the past year. Its one year stock return stands at -11.4 percent, even as after-tax profits rose by 8 percent according to its 2019 results released on Friday. The stock still trades at a discount to book value with price-to-book (P/B) ratio of 0.71, all the while sporting a juicy dividend yield of 15.4 percent as at Friday. Zenith Banks P/B ratio compares to Guaranty Trust Bank (GTB) which trades at 1.31 and…

CBN declares OMO ‘poison’ for banks

The Central Bank of Nigeria (CBN) has again wielded its big stick on some erring banks in the country just as it sends out a clear indication that it may reduce the savings account deposit rate to 1 percent as yields crash. Highlights of the Bankers’ Committee Feedback seen by BusinessDay show that six banks… This content is for Standard Bi-Annual, Premium Bi-Annual, Standard Yearly, Premium Yearly, Staff, 2 Weeks FREE plan, Standard Bi-Annual USD, Standard Yearly USD, Premium Bi-Annual USD, Premium Yearly USD, BusinessDay/Ready Set Work Premium Yearly (FREE),…

Zenith Bank reaffirms market leadership as after-tax profits cross N200bn

In a clear show of its resilience and market leadership, Zenith Bank has announced an impressive result for the year ended December 31, 2019, with profit after tax (PAT) of N208.8 billion, becoming the first Nigerian bank to cross the N200 billion mark. According to the bank’s audited financial results for the 2019 financial year… This content is for Standard Bi-Annual, Premium Bi-Annual, Standard Yearly, Premium Yearly, Staff, 2 Weeks FREE plan, Standard Bi-Annual USD, Standard Yearly USD, Premium Bi-Annual USD, Premium Yearly USD, BusinessDay/Ready Set Work Premium Yearly (FREE),…