Home >Markets >Live Blog >Nifty closes below 12,000, telcos and banks drag Sensex down 161 points
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Photo: iStock

Nifty closes below 12,000, telcos and banks drag Sensex down 161 points

  • BSE MidCap sheds 95 points
  • 20 of 30 Sensex shares end in red
  • Telecom, metal cos biggest laggards

Welcome to the Mint live blog. Follow this space for the latest in news and Indian stock markets.

18 Feb 2020, 03:46:23 PM IST

Market Closing

Benchamrk indices nearly 0.5% down each after retracing early losses, Bharti biggest Sensex loser, ONGC below 100 for first time in 15 years

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18 Feb 2020, 03:32:07 PM IST

GP Petroleums up 10%

GP Petroleums Ltd (GPPL), an automotive and industrial lubricant player in India, and part of UAE-based GP Global Group, plans to invest 100 crore in a new state-of-the-art plant in Saronda, Gujarat to process over 300,000-kilolitres of lubricants.

18 Feb 2020, 03:30:28 PM IST

Indian Industries seeks cut in import duties

Indian business leaders are demanding cuts in import duties on antibiotic drugs, mobile parts and other items as the outbreak of the coronavirus has disrupted supplies from China, government and industry officials said.

The outbreak of the virus in China has hit domestic manufacturing and exports of medicines, electronic, textile and chemicals as China is the biggest source of intermediate goods, worth $30 billion a year, according to a presentation by the Confederation of Indian Industries, seen by Reuters.

18 Feb 2020, 02:52:00 PM IST

Ind-Ra revises outlook on textile sector to negative

Rating agency Ind-Ra has revised the outlook on India's textile sector to negative from stable for 2020-21 as weak domestic demand growth, threat of cheap imports and dwindling incentives and exports are likely to keep volumes muted.

18 Feb 2020, 02:52:00 PM IST

Berger Paints declares interim dividend

The Board of Directors of the Company has declared an interim dividend of 1.90 per equity share (190%) for FY20.

18 Feb 2020, 02:42:05 PM IST

Asian markets fall

Tokyo's benchmark Nikkei 225 index closed down 1.4%, its fourth straight session in the red.

Hang Seng was 1.5% lower. Mainland China's benchmark Shanghai Composite Index recovered earlier losses to close up 0.1%.

Singapore fell 0.6% after the government cut economic growth forecast for this year as the coronavirus batters the city state's tourism and trade.

18 Feb 2020, 02:34:44 PM IST

India Ratings downgrades Vodafone Idea

India Ratings and Research has downgraded Vodafone Idea's rating on non-convertible debentures of 3,500 crores.

18 Feb 2020, 02:16:44 PM IST

Refined soya oil futures fall on muted demand

Refined soya oil prices fell by 5.6 to 827.4 per 10 kg in futures trade as speculators reduced holdings amid weak demand at spot market.

18 Feb 2020, 02:14:57 PM IST

Brent crude oil falls by $1 to $56.67 per barrel

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18 Feb 2020, 02:08:39 PM IST

Irdai says 'yet to get' proposal from LIC on IPO

Insurance watchdog Irdai is yet to get any proposal from life insurance behemoth LIC on an initial public offering but feels a listing is better from a governance perspective, chairman S C Khuntia said

18 Feb 2020, 01:59:04 PM IST

Barbeque Nation files for IPO

Casual dining chain Barbeque Nation Hospitality has filed fresh papers with markets regulator Sebi to raise an estimated 1,000-1,200 crore through an initial public offering.

The IPO comprises a fresh issue of shares worth 275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with the Securities and Exchange Board of India

18 Feb 2020, 01:57:03 PM IST

Tech Mahindra board considers interim dividend

The Board of Directors of the company is scheduled meet on 24 February to consider the proposal for payment of interim dividend, if any, on the equity shares, for the FY20.

18 Feb 2020, 01:54:28 PM IST

Motilal Oswal puts 'buy' on Ashok Leyland

Motilal Oswal has put ‘buy’ on Ashok Leyland with potential upside of 16% and a target price of 95.

18 Feb 2020, 01:36:46 PM IST

BSE MidCap down 228 points

18 Feb 2020, 01:19:32 PM IST

KM Birla says can't comment on anything related to AGR issue

Television channel CNBC-TV18 had reported that Birla met telecom secretary on the AGR issue. The company has received the biggest blow from the Supreme Court's verdict, which had upheld the definition of department of telecommunications (DoT), directing telcos to clear dues.

18 Feb 2020, 12:51:47 PM IST

Why ONGC shares are below ₹100 for the first time in 15 years

Shares of Oil and Natural Gas Corp. Ltd (ONGC) have fallen below Rs100 for the first time in 15 years and are trading at 98.5 on the NSE.

Now here’s a stock, which offers a dividend yield of 7.5% and enjoys an earnings yield of over 20%. Its market capitalisation of 125740 crore is lower than three years of operating cash flow.

What explains this dramatic fall in confidence for the shares of the state-run oil and gas producer?

18 Feb 2020, 12:26:15 PM IST

BSE Telecom falls nearly 4%

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18 Feb 2020, 11:53:59 AM IST

KM Birla meets telecom secretary on AGR issue: CNBC TV 18

Vodafone Idea -- a venture between the Indian unit of Britain's Vodafone Group Plc and billionaire Kumar Mangalam Birla's Idea Cellular -- owes about 50,000 crore to the department of telecommunications as AGR dues

18 Feb 2020, 11:44:01 AM IST

BSE Telecom and BSE Metal biggest laggards

BSE Telecom fell 2.47% to 1,245.26 points

BSE Metal fell 2.85% to 9,274.50 points

18 Feb 2020, 11:32:33 AM IST

Axis Securities puts ‘buy’ on State Bank of India

Axis Securities has put ‘buy’ on SBI with potential upside of 12% and a target price of 357.

18 Feb 2020, 11:25:48 AM IST

All 30 Sensex shares in red

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18 Feb 2020, 11:22:23 AM IST

IndusInd Bank falls 8.6% in 4 days

In Tuesday's session, the shares of IndusInd Bank traded 4.4% lower at 1120.70 apiece on BSE

18 Feb 2020, 11:17:41 AM IST

Mindtree hits 52-week high

Shares of Mindtree recede after touching 998.40 on BSE

18 Feb 2020, 11:14:49 AM IST

Yes Bank falls nearly 9% to ₹33.85 apiece on BSE

18 Feb 2020, 11:09:10 AM IST

Hero Motocorp to invest ₹10,000 crore over next 5-7 years

“Over the next 5-7 years, we are aiming to create the next generation of mobility solutions that are relevant to customers across the world. To this end, we have earmarked an investment of 10,000 Crore along with our ecosystem, which will be utilized towards research and development of alternative mobility solutions, modern, state-of-the-art, sustainable

manufacturing facilities, network expansion, and brand building across the globe," it said in a BSE filing.

18 Feb 2020, 11:07:02 AM IST

Bharat Electronics announces interim dividend

Bharat Electronics Ltd will pay an interim dividend of Rs.1.40/- per equity share on 26 February to the eligible shareholders.

18 Feb 2020, 10:47:54 AM IST

27 of 30 Sensex shares in red

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18 Feb 2020, 10:46:41 AM IST

Fonterra picks HCL Technologies for IT transformation

New Zealand’s Fonterra has selected HCL Technologies to modernise and manage the entire technology infrastructure employees of the world’s largest dairy company, owned by over 10,000 farmers, use every day.

The multi-year partnership with HCL Technologies will consolidate Fonterra’s technology suppliers and bring together the cooperative’s IT infrastructure services under one umbrella.

18 Feb 2020, 10:27:25 AM IST

Midhani surges 50% in last two weeks

Shares of Mishra Dhatu Nigam Ltd have surged over 50% in last two weeks on the expectation of higher growth in the coming quarter on strong order books. Also increase in space expenditure budget by the government also improved the sentiments among the investors.

The stock was trading at 226.75 on BSE at 9.47am, up 4.8% from its previous close. The scrip has risen over 50% since 3 February. The stock has listed on 4 April 2018 with an issue price of 90 a share and since then it surged nearly 152%.

18 Feb 2020, 10:24:48 AM IST

Vodafone Idea down 9%

The beleaguered telco has paid 2500 crore against the AGR dues to the telecom department. It will pay 1000 crore more by Friday. Vodafone Idea's has the highest AGR dues amounting to 50,000 crore.

18 Feb 2020, 10:18:22 AM IST

InterGlobe Aviation down 1%

Shares of IndiGo parent InterGlobe Aviation Ltd fell nearly 1%. The airline has has scrapped plans to launch long-haul international flights on dual-aisle Airbus 330 aircraft as it is likely to start flights to Europe and London on a single-aisle Airbus 321XLR (extra-long range) aircraft set to join its fleet by 2023-24.

18 Feb 2020, 10:11:58 AM IST

JSW Steel bags three iron ore mines located in Odisha

JSW Steel Ltd has bagged three iron ore mines—Narayanposhi iron and manganese ore mine and Nuagaon and Ganua iron ore mines—located in Odisha, with a combined estimated capacity of around 1,091.84 million tonnes.

18 Feb 2020, 10:11:06 AM IST

DHFL up 4.8%

Shares of Dewan Housing Finance Ltd (DHFL) rose 4.8%. At least 15 suitors have shown interest in acquiring troubled mortgage financier under the bankruptcy process before the deadline for submission of expressions of interest ended at midnight on Monday.

18 Feb 2020, 10:02:52 AM IST

JSW Energy up 6%

Shares of JSW Energy Ltd rose 6%. The company has signed a share purchase agreement to acquire GMR Kamalanga (1,050MW). The deal is valued at a maximum amount of 53 billion.

18 Feb 2020, 09:24:00 AM IST

Sensex down 203 points

India's benchmark indices opened lower tracking global cues. Sensex fell 203 points or 0.49% to 40,846. Nifty was down 61 points or 0.51% at 11,985.

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18 Feb 2020, 09:02:12 AM IST

Payment of AGR dues to bring down fiscal deficit

Payment of adjusted gross revenue dues of 1.20 lakh crore by telcos will reduce the fiscal deficit for 2019-20 to 3.5 per cent of the GDP from the revised estimate of 3.8 per cent of the GDP, according to economists at SBI.

18 Feb 2020, 08:41:33 AM IST

Oil falls on demand jitters, safe-haven gold up

Brent crude fell 0.9% to $57.18 a barrel

Gold rose 0.4% to $1,587 an ounce

18 Feb 2020, 08:39:49 AM IST


SBI Cards and Payment Services Ltd is targeting an early-March launch for its 9,000-crore initial public offering

18 Feb 2020, 08:35:19 AM IST

Stocks to Watch

RIL, IndiGo, Vodafone Idea are among the top 10 stocks that maybe in focus today.

RIL has announced the consolidation of its media and distribution businesses spread across multiple entities into Network18.

Vodadfne Idea paid 2,500 crore as part payment of AGR dues to the department of telecommunications. The company will pay 1,000 crore more by Friday, according to a regulatory filing.

18 Feb 2020, 08:35:19 AM IST

Indian stock markets may be weak on global cues

Taiwan's Topix index fell 0.9%, Australia’s S&P/ASX 200 Index fell 0.2%, Korea's Kospi index fell 1.1%, China's Shanghai Composite Index dropped 0.2% and Hong Kong's Hang Seng Index fell 0.9%.

18 Feb 2020, 08:35:20 AM IST

Asian shares fall after Apple warns on coronavirus impact

Asian shares fell after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.

Nikkei slid 1.2% while Shanghai shares dipped 0.45%. SGX Nifty was down 1.6%.

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