MARKETS: Sensex ends 1,325 pts up as indices stage sharpest 1-day recovery

All that happened in the markets today

2:29 PM

NEWS ALERT | Indian Oil Corp declares interim dividend of Rs 4.25/share: BSE filing

>> Board has fixed 25th March 2020 as the 'record date' for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend 

2:23 PM

BROKERAGE RADAR | Sharekhan on RIL

Valuation – Maintain Buy with revised SoTP based PT of Rs. 1,710

We believe that near term weakness in RIL’s stock price (stock corrected by 34% from recent highs) due to volatility in the broader markets should be looked as an opportunity to invest in the stock from long-term perspective. Moreover, the current valuation of 10x FY2022E EPS and 7.6x FY2022E EV/EBITDA is not factoring in improved outlook for telecom business and sustained high growth for retail business. Hence, we maintain our Buy rating on RIL with a revised SoTP based price target of Rs 1,710/share to factor lower GRM and petchem margin assumption and delay in potential re-rating given concerns over likely deferment of RIL-Saudi Aramco deal.

2:22 PM

Nestle, HUL, Asian Paints, Airtel stocks show resilience amid market mayhem

While HUL is trading at 51 one-year forward earnings, Nestlé India is at 70.6 one-year forward earnings. Since January 14, Nestlé India has given returns of 4.7 per cent, while HUL is up 2.35 per cent.

 

Asian Paints is another stock that has held up in face of a sell-off across the Street. In the same period, the stock has given slightly positive returns of 1.3 per cent. READ MORE

2:16 PM

Hotel stock investors fear June quarter due to coronavirus impact

With stringent curbs on foreign tourists’ travel by India up to April 15 due to coronavirus, stocks of major hotel players like Indian Hotels, Lemon Tree Hotels, Chalet Hotels and EIH, among others plunged by 10-20 per cent in Thursday’s trading session and hit their 52-week or all-time low. READ MORE

2:13 PM

BSE500 stocks that hit 52-week low today

COMPANY	PRICE(rs)	52 WK LOW	CHG(%)
3M INDIA	19951.00	17000.00	4.56
ACC	1159.00	1010.00	1.37
ADANI GAS	101.85	85.00	2.98
ADANI PORTS	283.80	234.55	-1.01
ADANI POWER	30.80	24.30	1.48

2:04 PM

MARKET COMMENT | Pankaj Pandey, head of research, ICICI Direct

We see the current correction as a buying opportunities for the investors who should utilise the declines to lap up the good businesses which have comfortable leverage, strong return ratios and enjoy leadership position. The allocation, however, can either be made in staggered or in lump sum, depending on investor’s risk appetite.

1:55 PM

European markets open higher

1:51 PM

MARKET UPDATE:: Sensex off highs

1:42 PM

Market Voice :: Shyam Sekhar on market recovery

1:37 PM

LIC to buy 1.35 billion shares of YES Bank at Rs 10 apiece: TV reports

As part of the YES Bank restructuring plan, Life Insurance Corporation of India (LIC) would buy around 1.35 billion shares at a price of Rs 10 apiece, according to a report by business channel CNBC-TV18. On Thursday, State Bank of India (SBI) had said it would infuse Rs 7,250 crore into ailing YES Bank to pick up to 49 per cent equity as part of the Reserve Bank of India-mandated bailout plan. READ MORE

1:36 PM

Covid-19 scare: Airline shares tumble up to 14%; IndiGo hits 52-week low

Shares of IndiGo and SpiceJet were trading with heavy losses.

 

InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875. READ MORE

1:12 PM

MARKET ALERT :: Sensex zooms over 1,800 pts

1:09 PM

MARKET ALERT :: Nifty reclaims 10,000-mark

1:08 PM

Expert Speak :: No need to panic, says Porinju Veliyath

1:05 PM

Nifty PSU Bank index up 10%