Sensex, Nifty end marginally up; Yes Bank soars 27%, Eicher Motors leads
8 min read.Updated: 05 Mar 2020, 04:21 PM ISTIshita Guha
Nifty sectoral indices traded mixed, Bank near 29,000 points, Realty, Media down 1.1%, 0.7%, respectively
BSE MidCap, SmallCap close the day up 0.3% each
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05 Mar 2020, 03:33:19 PM IST
Sensex, Nifty erase most gains
The benchmark BSE Sensex ended marginally higher, after gaining nearly 500 points during today's session. Nifty also followed a similar trend. Markets had opened in the green tracking global peers, which rose amid volatile trade due to persistent worries that the rapid spread of COVID-19, commonly known as the novel coronavirus, may cripple global economic growth.
Back home, shares of Yes Bank jumped nearly 27% after news agency Bloomberg reported that the government may ask State Bank of India (SBI) to lead a consortium to acquire stake in the private lender. Both Yes Bank and SBI clarified to the stock exchanges that they are unaware of any such development.
Today, Sensex ended 61.13 points, or 0.16%, higher at 38,470.61, while the Nifty 50 index rose 7.95 points, or 0.07%, to settle at 11,258.95.
05 Mar 2020, 03:21:05 PM IST
Tata Motors February JLR UK sales up 15% YoY
The company's total Jaguar and Land Rover sales in the UK rose 15% to 2,929 units, as against 2,550 units sold in the same period last year. However, the auto major sold 848 units of Jaguar in the UK, down 14.4% from 991 units sold a year ago. February sales of Land Rover (UK) were up 33.5% at 2,081 units compared with 1,559 a year ago.
05 Mar 2020, 03:15:20 PM IST
Nifty rises 0.2%; Fear gauge India VIX down over 2%
05 Mar 2020, 03:10:47 PM IST
Most Asian shares end in the green
SGX Nifty, which indicates the market trend for Indian equities, settled 0.3% higher in today's session. Japan's Nikkei 225 closed the day up 1.1%, while Hang Seng index in Hong Kong rose 2.1%. Shanghai Composite index in China extended morning gains and ended up nearly 2%.
05 Mar 2020, 02:54:46 PM IST
JLR India partners with Tata Power
Tata Motors owned-Jaguar Land Rover (JLR) India has signed a pact with Tata Power to provide end-to-end charging solutions for its electric vehicles to be launched in India. Retailers and customers of JLR India will get e-vehicle charging solutions from Tata Power, along with required after-sales support.
05 Mar 2020, 02:39:51 PM IST
Cadila gets DCGI nod for Saroglitazar
The company today said it has received approval from the Drug Controller General of India (DCGI) for its new drug application (NDA) Saroglitazar used for the treatment of Non-Cirrhotic Non-Alcoholic SteatoHepatitis (NASH) in India. Shares of the pharmaceutical company rose nearly 3%.
05 Mar 2020, 02:35:56 PM IST
SBI says 'will abide by timelines in disclosing developments'
The public-sector lender said it will abide by all the timelines in disclosing developments, if any, related to whether it has been asked by the government to lead a consortium that will buy stake in Yes Bank.
05 Mar 2020, 02:24:53 PM IST
Yes Bank clarifies on 'govt may ask SBI to buy stake in bank'
05 Mar 2020, 02:18:21 PM IST
Max Financial Services gain over 2%
Shares of the company rose 2.09% to ₹604 after it said Mitsui Sumitomo Insurance (MSI) will acquire 21.87% of its stake through a share swap.
05 Mar 2020, 02:02:13 PM IST
Praj Industries declares interim dividend for FY20
The company today said its board has declared an interim dividend of ₹2.70 per share for the financial year ending March. The dividend will be paid to shareholders on 24 March.
05 Mar 2020, 01:46:50 PM IST
Most Sensex constituents in the green
05 Mar 2020, 01:45:17 PM IST
Godfrey Phillips declares interim dividend for FY20
The cigarette maker today said its board has declared an interim dividend of ₹24 per share of face value of ₹2 each for the financial year 2019-20. The company will pay the dividend to shareholders on or before 3 April.
05 Mar 2020, 01:34:37 PM IST
Govt nominates Alok Tiwari as Corporation Bank director
The government has nominated Alok Tiwari, deputy secretary in the finance ministry's department of financial services, on the board of the bank with effect from 5 March.
05 Mar 2020, 01:05:25 PM IST
Moody's rates Bank of Baroda's long-term deposit
Moody's Investors Service has reaffirmed credit rating of Baa3 with a stable outlook to Bank of Baroda's domestic and foreign bank long-term and short-term deposit. However, the ratings agency has downgraded the public-sector lender's baseline credit assessment (BCA) to ba3 from ba2.
05 Mar 2020, 12:55:41 PM IST
Top five Nifty gainers, laggards
Yes Bank, Hindustan Unilever, State Bank of India, Kotak Mahindra Bank and Eicher Motors were among the top gainers on the Nifty 50 index, while Zee Entertainment, Coal India, Bharti Infratel, Hindalco and Grasim Industries fell the most.
05 Mar 2020, 12:44:20 PM IST
Granules India get US FDA nod
The pharmaceutical company said it has received approval from the US Food and Drug Administration (US FDA) to manufacture potassium chloride extended-release tablets. These tablets are used to reduce diet-related deficiencies that slowdown potassium-rich foods.
05 Mar 2020, 12:34:16 PM IST
BSE SmallCap also in the green, at 13,648 points
05 Mar 2020, 12:32:46 PM IST
BSE MidCap rises 0.7% to 14,636
05 Mar 2020, 12:21:09 PM IST
DLF board to meet on 7 March to consider fundraising
The real estate company on Tuesday said its board will meet on 7 march to consider raising funds worth ₹1,000 crore through redeemable secured non-convertible debentures (NCDs) in one or more tranches.
05 Mar 2020, 12:07:46 PM IST
Bombay High Court dismisses Chanda Kochhar's plea
The Bombay High Court today dismissed former ICICI Bank managing director and chief executive officer Chanda Kochhar's plea challenging her termination by the bank over alleged conflict of interest in disbursing loans worth ₹3,250 crore to Venugopal Dhoot-led Videocon Group, which benefitted her husband Deepak Kochhar. The court accepted the bank's contention that Kochhar's plea was not maintainable.
05 Mar 2020, 11:59:29 AM IST
Nifty Bank rises more than 1%
05 Mar 2020, 11:56:32 AM IST
ICRA reaffirms A1+ for PNB Gilts' CP
Ratings agency ICRA has reaffirmed the credit rating of Al+ for commercial paper (CP) programme of PNB Gilts worth ₹500 crore. Shares of the company rose a marginal 0.5% to ₹30.50 on the BSE.
05 Mar 2020, 11:28:29 AM IST
Sensex advances nearly 370 points
Heavyweights ICICI Bank, Reliance Industries, State Bank of India and Maruti Suzuki bucked the broader trend in the market and fell.
05 Mar 2020, 11:13:20 AM IST
Lenders approve resolution plan for RCom
The committee of creditors to Reliance Communications on Wednesday approved the resolution plans submitted by Reliance Jio Infocomm and UV Asset Reconstruction Company (UVARC) for the now-defunct telecom operator’s businesses, according to a Mint report.
05 Mar 2020, 10:48:59 AM IST
Yes Bank up 15%; SBI tanks 5%
Shares of Yes Bank jumped 26.6% to ₹37.10, while that of State Bank of India (SBI) slipped 5% after a Bloomberg report said the government has asked SBI to form a consortium that may buy stake in Yes Bank.
05 Mar 2020, 10:34:14 AM IST
SBI to buy stake in Yes Bank?
The government may ask State Bank of India to acquire stake in Yes Bank, Bloomberg said quoting sources. The private lender has been struggling to find investors to execute its plan to raise funds worth $2 billion. SBI has also been authorised to pick other members of the consortium.
05 Mar 2020, 10:29:31 AM IST
Rupee at day's low
The Indian rupee extended losses from the morning, trading at day's low of 73.53 against the US dollar compared with the previous close of 73.21.
05 Mar 2020, 10:27:51 AM IST
Citi maintains buy on HDFC Bank
Shares of HDFC Bank rose 0.5% to ₹1,154.25 on the BSE as research firm Citi has maintained buy call with a target at ₹1,600 per share.
05 Mar 2020, 10:24:29 AM IST
Nifty sectoral indices mixed
05 Mar 2020, 10:19:00 AM IST
Allcargo Logistics gain over 3%
The logistics company on Tuesday said it has received approval from market regulator Securities and Exchange Board of India to acquire 26% stake, approximately 3.17 crore shares, in Gati at ₹75 a share via open offer. After the acquisition, Allcargo's stake in Gati will increase to 46.83%. The stock was at ₹112.50 on the BSE.
05 Mar 2020, 09:56:28 AM IST
IndusInd Bank shares rise 0.5%
The private lender on Wednesday said the board will meet on 9 March to consider and approve raising funds through additional tier I capital (ATI) and/or tier 2 capital of the bank. The stock was up 0.5% at ₹1,066.95 on the BSE.
05 Mar 2020, 09:35:19 AM IST
Top five gainers, laggards on Nifty
Vedanta, Gail India, HCL Technologies, UPL and Hindustan Unilever were among the top gainers on the Nifty 50 index, while Yes Bank, Zee Entertainment, Bharti Infratel, ICICI Bank and Cipla led the losses.
05 Mar 2020, 09:31:22 AM IST
Sensex up over 100 points at 38,528.90
05 Mar 2020, 09:27:01 AM IST
Bharti Airtel among top laggards
Shares of the telecom operator and Vodafone Idea fell after the department of telecommunications asked them to pay the remaining adjusted gross revenue (AGR)-related dues as per the Supreme Court order. The government has so far received around ₹26,000 crore in AGR payments, including ad hoc/ buffer amounts given by telcos to meet any reconciliation differences. Airtel was down 0.7% and Vodafone 4.5%.
05 Mar 2020, 09:08:55 AM IST
Rupee opens marginally lower
The Indian rupee today opened marginally lower at 73.37 against the US dollar compared with Wednesday's close of 73.22.
05 Mar 2020, 08:57:20 AM IST
Most Asian shares up; SGX Nifty in the red
SGX Nifty, which indicates the market trend for Indian equities, traded 0.07% lower in early deals. However, Japan's Nikkei 225 was up 0.9%, while Hang Seng index in Hong Kong rose 1.1%. Shanghai Composite index in China was up 1.2% in the morning trade.
05 Mar 2020, 08:52:08 AM IST
Stocks to watch in today's session
The department of telecommunications (DoT) has asked Bharti Airtel, Vodafone Idea and other telecom companies to pay remaining adjusted gross revenue (AGR) dues as per the Supreme Court order. HDFC, Zuari Agro and Godrej Properties are other stocks to be in focus today.
05 Mar 2020, 08:45:58 AM IST
Dow Jones soars 4.5%, S&P 500 ends up 4.2%
The Dow Jones Industrial Average closed Wednesday's session 4.5% higher at 27,090.86, recovering the 800 points lost on Tuesday. The broad-based S&P 500 jumped 4.2% ending at 3,130.12, while the tech-rich Nasdaq Composite Index surged 3.9% to close at 9,018.09.
US indices last week had suffered their biggest weekly loss since the 2008 financial crisis. The volatility continued this week as well, with stocks surging on Monday and plunging on Tuesday before Wednesday's rally.
05 Mar 2020, 08:38:28 AM IST
Biden's show push US stocks higher
Benchmark Wall Street stocks rocketed on Wednesday as strong performance by US presidential candidate Joe Biden in the Super Tuesday primaries boosted investor sentiment. Shares continued their volatile run amid worries that coronavirus may cripple global economy.