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Biz EOD: Fuel demand hits two-year low, PNB posts Rs 507 crore profit, Yes Bank stock up 8%

BusinessToday.In     November 6, 2019

Slowdown blues spread to petrol and diesel and consumption falls to a two-year low. PNB posts net profit of over Rs 507 crore in the September quarter of current fiscal. Yes Bank share rises after Big Bull Rakesh Jhunjhunwala shows interest in it. Read for more top stories fom the world of business and economy:

1. PNB posts Rs 507 crore net profit in September quarter; asset quality improves

The bank made provisions worth Rs 2,928.90 crore during Q2 FY20, 70 per cent less than Rs 9,757.90 crore in Q2 FY19, but 44 per cent higher than Rs 2,023.31 crore.

2. Govt to announce new base year for GDP in next few months

MOSPI is waiting for Annual Survey of Industries and Consumer Expenditure Survey before finalising the new base year, after which the proposal will be tabled before respective committees.

3. YES Bank share rallies over 8% after Rakesh Jhunjhunwala buys 1.3 crore shares

YES Bank share price rose up to 8.77 per cent to Rs 71.9 on reports Jhunjhunwala purchased 1,29,50,000 shares amounting to 0.5 per cent stake in the lender.

4. Blame it on farm loan waivers! SBI, BoI, IDBI Bank see spike in agriculture NPAs

Bank of India tops the agriculture NPA list with 17 per cent of advances to the sector turning bad.

5. Infographic: Petrol, diesel demand hits two-year low

Amid an economic slowdown, rising prices and reducing CNG rates, consumption of petrol and diesel has hit its lowest in two years.

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