MARKET: Sensex sees 1,300-pt intra-day swing; ends 153 pts lower at 38,144

All that happened in markets today

11:46 AM

There are reasons to be a buyer in current market scenario amid virus scare

However, there are few benefits from Coronavirus scare.

 

- Oil prices have crashed from $68 a barrel to $50 a barrel and are likely to remain subdued for some time.

 

- India runs official trade deficit of $58 billion with China. Due to coronavirus-led supply chain disruption, this deficit can come down significantly. This, in turn, will encourage local manufacturing. READ MORE

Nilesh Shah, MD & CEO, Kotak Mutual Fund (Photo: Kamlesh Pednekar)

11:38 AM

NEWS ALERT | Power Min rejects stake sale in PFC, NTPC, Power Grid on bond holders fear: Govt official

>> Fin Min accepts Power Min's objections

>> Fin Min agrees stake reduction 'not possible'

(As reported by CNBC TV18 quoting Agencies)

11:29 AM

FEBRUARY AUTO SALES | Eicher Motors total sales up 1.4% YoY at 63,536 units; total exports down 8% at 2,348 units

11:23 AM

FEBRUARY AUTO SALES | TVS Motor total sales at 2.53 lakh units as compared to 2.9 lakh units in Feb 2019

11:17 AM

COVID-19, trade war: Manufacturing shift to hit China, but will India gain?

The sudden spurt in coronavirus (COVID-19) cases over the past few weeks across the globe has not only cast its shadow on global financial markets, but has also derailed economic activity in major countries, especially China, which was in the middle of a trade spat with the United States before the coronavirus’ outbreak. Most analysts have revised downward their global growth projections as measured by the gross domestic product (GDP) in this backdrop. A number of companies, they say, are now increasingly looking to diversify their manufacturing base out of China. READ MORE

11:04 AM

NEWS ALERT | Centre permits airlines operating in India to provide in-flight Wi-Fi

>> Notification says Pilot-in-Command may permit the access of Internet services by passengers on board an aircraft in flight, through Wi-Fi on board

(as reported by CNBC TV18)

10:54 AM

Escorts zooms 9% on strong February sales; stock up 28% in 2020 so far

Shares of Escorts surged over 9 per cent to Rs 852.95 on the BSE on Monday after the tractor manufacturing company reported strong sales numbers for February. Escorts announced that its agri machinery segment (EAM) sold 8,601 tractors in February, an 18.8 per cent growth against 7,240 tractors sold in February 2019. Domestic tractor sales stood at 8,049 tractors, up 16.3 per cent against 6,918 tractors in the same month last fiscal. READ MORE

10:44 AM

M&M hits 52-week low after February auto sales numbers, recovers later

Shares of car-maker Mahindra and Mahindra hit a fresh 52-week low of Rs 444.6, down 2.5 per cent on the BSE on Monday, in an otherwise strong market, after the company's total sales in February plunged 42 per cent year-on-year (YoY). The sales stood at 32,476 units in the previous month, as against 56,005 units sold in the same month last year, M&M said in a statement. READ MORE

10:36 AM

NEWS ALERT | India February Manufacturing PMI at 54.5 Vs 55.3 in January

10:30 AM

Feb Auto Sales | Ashok Leyland reports 37% YoY decline in total sales

10:21 AM

Mishra Dhatu Nigam hits fresh all-time high; stock zooms 85% in a month

Shares of Mishra Dhatu Nigam (MIDHANI) continued their northward journey and rallied 13 per cent to hit a fresh high of Rs 278 on the BSE on Monday ahead of its board meeting tomorrow (March 3, 2020) to consider interim dividend. The stock of the state-owned manufacturers of special steels superalloys and titanium alloys has surged 32 per cent in the past three trading days after the company announced, on Thursday, that its board will meet on March 3 to consider a proposal relating to declaration of interim dividend, if any, for the financial year 2019-20. READ MORE

10:15 AM

Coronavirus impact: Investors can buy good stocks but in limited quantities

On Monday, the market might open with a gap up (at a higher level) because there was aggressive selling before closing on Friday. But investors should not feel that the worst is over.

 

There could be some more pain before things get better,” says investment advisor Arun Kejriwal, summing up the market mood. READ MORE

10:05 AM

SBI Cards IPO opens today. Should you subscribe? Check what brokerages say

The company has allotted nearly Rs 2,800 crore worth of shares to anchor investors ahead of its opening. A total of 36.7 million shares have been allotted to 75 anchor investors at Rs 755 apiece, the top-end of the IPO price band. The list includes including sovereign funds belonging to the Singapore and Kuwait government, Fidelity, Nomura, BNP Paribas, GMO and Blackrock.  READ MORE

9:59 AM

Affle (India) jumps over 8% after it signs agreement to acquire Mediasmart

Shares of Affle (India) climbed as much as 8.6 per cent to Rs 1,949 apiece on the BSE on Monday after the company announced it has signed a definitive agreement to acquire Spain-headquartered Mediasmart, a self-serve mobile programmatic and proximity marketing platform. At 09:34 am, the stock was trading over 5 per cent higher at Rs 1,886 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading over 1 per cent or 479 points higher at 38,753 levels. READ MORE

9:55 AM

NEWS ALERT | ICICI Bank cuts lending rate by 5 bps: CNBC TV18