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Photo: Mint

Sensex dives 400 points, Nifty ends at 15,209; PSU banks shine

  • Indian shares closed in the red on Wednesday after scaling record highs for two successive sessions, as investors sold off high-flying financial stocks.

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17 Feb 2021, 03:41:27 PM IST

Market closing

Indian shares closed in the red on Wednesday after scaling record highs for two successive sessions, as investors sold off high-flying financial stocks.

Equity benchmark Sensex settled at 51,703.83 down 400.34 points or 0.77%, while Nifty retreated 104.55 points or 0.68% to end at 15,208.90. Among sectoral indices on NSE, Nifty PSU Bank closed nearly 6% or 136 points higher, outperforming the benchmarks.

SBI, closing nearly 3% higher, was the top Sensex gainer followed by Power Grid, NTPC, RIL and Bajaj Auto. Nestle India, Bajaj Finserv, Asian Paint and IndusInd Bank were among the laggards. Of 30 Sensex shares, 22 closed in the red.

BSE Sensex
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BSE Sensex
17 Feb 2021, 03:29:41 PM IST

HDFC twins, Kotak Bank and Infosys drag Sensex by 450 points

17 Feb 2021, 03:14:13 PM IST

BSE SmallCap up 0.7%

BSE SmallCap Index
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BSE SmallCap Index
17 Feb 2021, 03:08:11 PM IST

Adani Ports to invest ₹10,000 cr to develop Dighi Port

Adani Ports and Special Economic Zone (APSEZ) on Tuesday said it has completed the acquisition of Dighi Port for 705 crore and would invest over 10,000 crore in developing it as an alternate gateway to JNPT.

JNPT is India's largest container port and is one of the 12 major ports in the country.

“APSEZ completed the acquisition of 100 per cent DPL for 705 crore on February 15, 2021....DPL, the 12th port to join APSEZ's string of economic gateways across the eastern and western coast of India would establish the company's footprint in Maharashtra, the largest contributor to India's GDP," APSEZ said in a statement.

17 Feb 2021, 02:46:23 PM IST

Lodha Developers files DRHP for ₹2,500 crore IPO

Macrotech Developers Ltd, formerly known as Lodha Developers, has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise Rs2,500 crore via an initial public offering (IPO).

The company proposes to utilise an estimated Rs1,500 crore from the net proceeds for prepayment, repayment or redemption of all or a portion of borrowings availed by the company and some of its subsidiaries. (Full report)

17 Feb 2021, 02:32:45 PM IST

Macrotech files DRHP to raise Rs2,500 cr via IPO

Macrotech Developers Ltd, formerly known as Lodha Developers, filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise Rs2,500 crore via an initial public offering (IPO).

The company proposes to utilise an estimated Rs1,500 crore from the net proceeds towards prepayment, repayment, or redemption of all or a portion of certain borrowings of the company and its subsidiaries. (Full report)

17 Feb 2021, 02:15:17 PM IST

Granules India gets US FDA nod for it Abbreviated New Drug Application

Granules India Limited announced today that the US Food & Drug Administration (US FDA) has approved its Abbreviated New Drug Application (ANDA) for Potassium Chloride Extended-Release Capsules USP, 8 mEq (600 mg) and 10 mEq (750 mg). It is bioequivalent to the reference listed drug product (RLD), Micro-K Extended-Release Capsules, 8 mEq and 10 mEq, of Nesher Pharmaceuticals (USA) LLC. The product would be manufactured at the company's Hyderabad facility and is expected to be launched shortly.

17 Feb 2021, 02:08:26 PM IST

Lupin launches Posaconazole delayed-release tablets

Drug major Lupin on Wednesday said it has launched Posaconazole delayed-release tablets, used for prevention of invasive aspergillus and candida infections in patients at high risk due to low level of immunity.

Posaconazole delayed-release tablet is generic equivalent of Noxafil delayed-release tablet, of Merck Sharp & Dohme Corp.

In a regulatory filing, Lupin Ltd announced launch of Posaconazole delayed-release tablets, 100 mg, after its alliance partner AET Pharma US Inc. (part of Tiefenbacher Group) received an approval for its abbreviated new drug application (ANDA) from the United States Food and Drug Administration".

17 Feb 2021, 01:23:05 PM IST

Maharashtra Bamk, IOB top SmallCap gainers

BSE SmallCap
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BSE SmallCap
17 Feb 2021, 01:07:14 PM IST

Jubilant Foodworks forms subsidiary in Netherlands

Jubilant Foodworks, which operates Domino's Pizza and Dunkin' Donuts chains in India, on Tuesday said it has formed a wholly owned subsidiary in the Netherlands to explore business opportunities in the food service industry in the European country.

"Jubilant Foodworks Ltd has incorporated a wholly owned subsidiary company “Jubilant Foodworks Netherlands B.V." on February 15, 2021. (It has been) incorporated as a wholly owned subsidiary of the company for exploring business opportunities," the company said in a regulatory filing.

17 Feb 2021, 12:39:07 PM IST

Maharashtra Bank, Indian Overseas Bank jump 20%

Nifty PSU Bank Index
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Nifty PSU Bank Index
17 Feb 2021, 12:25:00 PM IST

PepsiCo partner Varun Beverages' Q4 loss narrows to ₹7 crore

Varun Beverages Ltd (VBL), a key player in the beverage industry and one of the largest franchisee of PepsiCo worldwide, said on Tuesday its losses reduced significantly to 7.24 crore during October to December.

The company, which follows January -December year, had posted a net loss of 53.95 crore in Q4 2019.

For CY 2020, however, profit after tax decreased by 24% to 357 crore primarily because of 64.7% decline in Q2 due to covid-19 lockdown restrictions imposed by the government.

17 Feb 2021, 12:06:07 PM IST

Dr Reddy's Laboratories launches cancer treatment drug Capecitabine in US

Drug major Dr Reddy's Laboratories on Wednesday said it has launched cancer treatment drug Capecitabine tablets in the US market.

The product is a therapeutic equivalent generic version of Xeloda (capecitabine) tablets approved by the US Food and Drug Administration.

In a regulatory filing, Dr Reddy's laboratories announced launch of Capecitabine tablets in the US.

17 Feb 2021, 11:47:00 AM IST

Domestic sales drive Glenmark's strong Q3 performance

Glenmark Pharmaceuticals Ltd has seen its stock prices almost double since March lows with improving business prospects. The company’s Q3 performance, which was driven by strong domestic sales growth, was testimony to this. However, debt reduction holds the key for stock rerating, according to analysts. (Full report)

17 Feb 2021, 11:40:34 AM IST

IndusInd Bank promoters complete fundraise via rights issue

IndusInd International Holdings Ltd. (IIHL), the promoter entity of IndusInd Bank, has completed raising capital through a rights issue. The company raised capital at an overwhelming premium of 1,400% towards the subscription of this rights issue, it said in a statement to the stock exchanges.

Under a rights issue, a company allows only existing shareholders to participate in the fundraise. (Full report)

17 Feb 2021, 11:14:40 AM IST

L&T Finance Holdings raises ₹2,998 crore through rights issue

L&T Finance Holdings Ltd (LTFH) has closed its rights issue and has raised over 2,998 crore. The rights issue was oversubscribed by approximately 15%, it said in a release.

The non-banking finance company is present in businesses, including rural finance, housing finance, infrastructure finance and investment management.

17 Feb 2021, 10:54:44 AM IST

Nestle India Q4 net rises 2.25%

FMCG major Nestle India Ltd reported a 2.25% rise in net profit to 483.31 crore for the fourth quarter ended December.

The company, which follows the January-December financial year, had posted a profit of 472.64 crore in the same period a year ago, Nestle said in a BSE filing.

Net sales rose 9.16% to 3,417.52 crore during the quarter under review as against 3,130.74 crore in the corresponding period last fiscal, the company said.

Nestle India's domestic sales were up 10.13% to 3,260.70 crore as against 2,960.78 crore in October-December 2019.

17 Feb 2021, 10:23:14 AM IST

ICICI Bank to buy stakes in two fintech companies

ICICI Bank on Tuesday said it will buy stakes in two fintech companies -- CityCash and Thillais Analytical Solutions -- for a total cash consideration of 6.03 crore.

CityCash is a bus transit-focused payments technology company which provides ticketing system technology to state transport corporations.

Thillais Analytical Solutions operates a neo-banking platform Vanghee, which facilitates connected banking solutions for corporates and MSMEs, and helps banks deepen their customer relationships.

17 Feb 2021, 09:59:05 AM IST

SAT stays SEBI order banning Kishore Biyani, other Future promoters from markets

The Securities Appellate Tribunal (SAT) has stayed an order passed by market regulator SEBI that had banned Future Retail Chairperson Kishore Biyani and some other promoters from the securities market for one year for alleged insider trading. SAT has also directed the Future Group promoters to deposit a sum of 11 crore as an interim measure.

17 Feb 2021, 09:58:14 AM IST

HDFC twins, TCS, Kotak Bank top Sensex drags\

Index Contributors
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Index Contributors
17 Feb 2021, 09:41:38 AM IST

Nifty PSU top Sectoral gainer

NSE Sectoral Indices
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NSE Sectoral Indices
17 Feb 2021, 09:17:33 AM IST

Market opening

Indian benchmark share indices opened in the red on Wednesday tracking weakness in global peers. Sensex opened at 51,996.94, down 107.23 points or 0.21%, while Nifty opened 33.55 points or 0.22% lower at 15,279.90. Of 30 Sensex shares, 22 opened in the red.

BSE Sensex
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BSE Sensex
17 Feb 2021, 09:05:24 AM IST

Market pre-opening

Indian stocks traded lower in the pre opening session on Wednesday. At 9:03am, Sensex was at 52,009.57, down 94.60 points or 0.18%, while Nifty slipped 2.4 points or 0.02% at 15,311.05.

17 Feb 2021, 08:59:50 AM IST

Markets at close on Tuesday

Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.

After touching a lifetime high of 52,516.76 in the opening session, the 30-share BSE Sensex settled 49.96 points or 0.10% lower at 52,104.17.

Similarly, the broader NSE Nifty inched 1.25 points or 0.01% lower to close at 15,313.45.

17 Feb 2021, 08:58:08 AM IST

Asian stocks decline

Most markets fell in Asia on Wednesday, hit by profit-taking after a strong rally across the world in recent weeks, with investors worried valuations may have gone too far for now.

Japan's Nikkei and South Korea's Kospi dropped nearly 1%.

Australia's ASX200 slipped 0.4%.

Hong Kong's Hang Seng advanced 0.3%, while Shanghai was closed for a holiday.

Singapore's SGX Nifty retreated 0.43%.

17 Feb 2021, 08:58:08 AM IST

Stimulus hopes drive Dow to closing peak

The Dow Jones Industrial Average notched a record closing high on Tuesday as cyclical sectors gained on the prospect of more fiscal aid to lift the US economy from a coronavirus-driven slump.

The Nasdaq, however, dipped as technology stocks moved lower, while concerns over rising interest rates kept the benchmark S&P 500 little changed.

The Dow Jones Industrial Average rose 63.82 points, or 0.2%, to 31,522.22, the S&P 500 lost 2.25 points, or 0.06%, to 3,932.58 and the Nasdaq Composite dropped 47.98 points, or 0.34%, to 14,047.50.

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