INDIA VS PAKISTAN ASIA CUP 2018

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Today's news highlights-Serbian junior win doubles titles,Asia Cup 2018: Top 5 fantasy cricket picks for the India vs Pakistan Dream11 team,Yes Bank shares tank 29% as RBI cuts Rana Kapoor’s tenure,and also many more see it is going to very interesting.



Serbian junior win doubles titles

Singapore paddler Gerald Yu partnered Thailand's Yanapong Panagitgun to win the junior boys' doubles title on Thursday at the Serbian Junior and Cadet Open.

They beat Indian pair Anukram Jain and Deepit Patil 3-2 in the final.

Also, the Republic's Eunice Lim and Thailand's Jinnipa Sawettabut beat India's Radhapriya Goel and Anusha Kutumbale 3-2 to win the junior girls' doubles.

DISNEY'S STREAMING SUBSCRIPTION HITS 1M

WASHINGTON • Walt Disney said that its new ESPN+ streaming service passed 1 million paid subscribers in the first five months, a faster pace than other new video businesses.

The service, which costs US$5 (S$6.82) a month, is an crucial test of Disney's efforts to establish a direct link to consumers at a time when more people are watching TV on demand through smartphones and other mobile devices.

WASHINGTON POST

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PHELPS SLAMS WADA FOR LIFTING BAN ON RUSSIA

SYDNEY • Olympic swimming legend Michael Phelps was among many who blasted the decision to lift a ban on Russia's anti-doping agency Rusada yesterday.

The World Anti-Doping Agency's (Wada) move on Thursday paves the way for Russian athletes to return to competition across all sports. But Phelps said: "For me being a father, that's something I'm going to tell my kids and explain to them. It's just so disappointing to see that."

AGENCE FRANCE-PRESSE

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MAGIC ALREADY IN AWE OF LEBRON'S WORK ETHIC

LOS ANGELES • Los Angeles Lakers president Magic Johnson on Thursday said newly acquired forward LeBron James is in excellent shape ahead of next week's training camp and will lead an up-tempo offence as the franchise attempts to return to National Basketball Association relevancy.

The Lakers, who have not made the play-offs since the 2012-13 season, open their season on Oct 18 at the Portland Trail Blazers, with their first home game coming against the Houston Rockets on Oct 20.

REUTERS

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FISHER CARDS FIRST 59 IN EUROPEAN TOUR HISTORY

LONDON • Englishman Oliver Fisher carded the first round of 59 in European Tour history yesterday at the Portugal Masters.

He made 10 birdies and an eagle without making a single mistake for his 12-under effort in Vilamoura. He shot 71 on Thursday and was the early clubhouse leader.

Asia Cup 2018: Top 5 fantasy cricket picks for the India vs Pakistan Dream11 team

Players you need to pick for your Fantasy Cricket team for the India vs Pakistan Asia Cup 2018 match

Just a few days after their first match, India and Pakistan are facing each other yet again, this time in the Asia Cup 2018 Super Fours match at the Dubai International stadium on Sunday. While all eyes will be on the field action, Fantasy Cricket participants will look to seize the opportunity to win a lot of money during the course of the match. All you have to do is make your Fantasy Cricket team with players from India and Pakistan and you can win money according to how your players perform on the day. But there are a lot of things you need to keep in mind while selection your Fantasy Cricket team and that’s why we tell you the top five picks you need to have in your team for India vs Pakistan Asia Cup Super Four match:

1. Bhuvneshwar Kumar – Bowler, India

Bhuvneshwar Kumar was back at his best in the last India v Pakistan match. Bhuvneshwar who was returning to the squad after a lower back injury was instrumental in putting Pakistan on the back foot right from the beginning. His first two wickets were the start of what was an impressive display by the Indian bowlers. Plus Kumar can bat when called upon and that means points for your Dream11 team.

Dream11 points: 49.5

2. Rohit Sharma – Batsman, India

The captain leading from the front is a pleasant sight for any cricketing fan. And that’s exactly what Rohit Sharma did in the run chase against Pakistan. While the target was only 163, Rohit Sharma looked clinical and is a man in form. If India gets to bat first on Sunday, chances are that Rohit Sharma will get off to a flying start. And that’s when you will thank us.

Dream11 points: 55.5

3. Kedar Jadhav – All-rounder, India

What a tournament this player has been having. Called in as the second choice all-rounder, Kedar Jadhav has cemented his place in the team at least in this tournament and looks like the danger man for India. While his bowling has been continuously effective, we are all aware of his batting prowess. Pick him for your Fantasy Cricket team and you will not regret it.

Dream11 points: 60

4. Babar Azam – Batsman, Pakistan

When Pakistan lost two wickets and was in a world of trouble, it was Babar Azam who handed them a ticket out of jail. The second fastest batsman to score 2000 runs in ODI cricket, Babar Azam is the cornerstone of Pakistan’s batting. He could be your top pick if he has his way against India on Sunday.

Dream11 points: 53.5

5. Shoaib Malik – All-rounder, Pakistan

A veteran in the squad, Shoaib Malik is a crucial figure in what is a young Pakistan team. He showed exactly that when he along with Azam stitched a partnership that got Pakistan out of trouble temporarily against India. His experience and his ability to play spin makes him an asset for the team and could be the reason you get some money.

Yes Bank shares tank 29% as RBI cuts Rana Kapoor’s tenure

Yes Bank shares closed at ₹ 227.05 on the BSE today, down 28.71% from its previous close, eroding nearly ₹ 21,100 crore of the private lender’s market capitalisation

RBI has denied a three-year extension to Yes Bank CEO Rana Kapoor and asked him to step down after 31 January 2019.

Shares of Yes Bank Ltd today fell nearly 29%, its steepest fall ever, as several brokerages downgraded the stock and cut its target price after the Reserve Bank of India (RBI) cut CEO Rana Kapoor three-year tenure to only four months.

Kapoor has to step down from the post by 31 January 2019.

Yes Bank shares closed at ₹ 227.05 on the BSE today, down 28.71% from its previous close, eroding nearly ₹ 21,100 crore of its market capitalisation. The benchmark Sensex fell 0.75%, or 279.62 points, to end the day at 36,841.60 points.

In intraday trade, Yes Bank shares fell as much as 34%, its steepest fall since listing, to ₹ 210.10 apiece—a level last seen on 24 June 2016. So far this year, the stock has declined 28%.

On Wednesday, brokerage firms Goldman Sachs Group, Nomura Research, Citigroup Inc. and IDFC Securities Ltd have downgraded the Yes Bank stock and slashed their target prices.

Goldman Sachs lowered its rating to “neutral” from “buy” and reduced its target price to ₹ 300 from ₹ 383 a share.

Nomura Research downgraded the stock to “neutral” from “buy” and reduced its target price to ₹ 345 from ₹ 500 earlier.

Citigroup cut to “sell” from “buy” and slashed its target price to ₹ 270, down 39% from its earlier target.

IDFC Securities has decreased its target price to ₹ 230 a share from ₹ 350 a share.

“Kapoor was central to the bank’s business strategy. His absence will slow down loan and fee growth for the bank which could lead to a sharp fall in valuations. It could also impact Yes Bank’s ability to raise high net worth deposits. More importantly, Yes Bank needs fresh capital given its strong loan growth, which will be difficult to raise after this event”, said IDFC Securities in a 19 September note to its investors.

Yes Bank had late on Wednesday filed with the BSE that “RBI has intimated that Rana Kapoor may continue as the MD & CEO till 31 January 2019, and the Board of Directors of the Bank are scheduled to meet on 25 September 2018 to decide on the future course of action”.

Yes Bank is the second private lender after Axis Bank whose CEOs’ tenure has been cut short, despite receiving shareholders’ approvals for an extension. Earlier this year, RBI had asked Axis Bank to review CEO Shikha Sharma’s reappointment to the post till June 2021, following which she cut short her tenure to 31 December this year. Meanwhile, ICICI Bank Ltd boss Chanda Kocchar is under investigation for alleged irregularity in loan approvals to the Videocon Group.

Rana Kapoor’s leadership came into question after RBI’s asset quality review (AQR) indicated bad loan divergence at Yes Bank.

“Near-term uncertainties around RBI’s reluctance, new leadership and capital-raising will weigh on (Yes Bank’s) valuation. Hence, we are pruning the target multiple (to 2.5x from 3x FY20 earlier) and revising the target price. However, the strong foundation laid over the years and a well-experienced second-line management should help sustain the superior RoE profile”, said Edelweiss Securities Ltd in a note today.

Nomura has cut its earnings growth estimates for Yes Bank to 20% for the next two years and sees increase in credit costs by up to 100 basis points. It has reduced the target multiple to 2.1x for fiscal year 2020. Hundred basis points make up one percentage point.

“We do not subscribe to the view that without Rana Kapoor, there is no future for this systemically large bank, or that its financials have been cooked up,” said Jefferies India in a note today. “CET 1 is low but we do not see a material growth slowdown. More clarity is needed, and we do have questions, but we are not panicking”. The brokerage has maintained its “buy” rating on Yes Bank but cut its target price to ₹ 365 a share from ₹ 445.

Of the analysts covering the Yes Bank stock, 39 have a “buy” rating, nine have a “hold” rating, while four have a “sell” rating, shows Bloomberg data.