Investors lose Rs 3.6 trillion as Sensex falls 883 pts on Covid-19 woes

The Nifty Pharma index was the only index that ended in thee green, up 0.17 per cent

3:11 PM

March Quarter Results :: Bajaj Consumer declares dividend worth Rs 4 per share

>> Revenue stands at Rs 249 crore

>> PAT at Rs 54.7 crore

>> Ebitda at Rs 61.7 crore

>> Ebitda margin at 24.8%

3:05 PM

Jaguar Land Rover expects China premium car sales to grow this year

Jaguar Land Rover expects premium car sales to continue to grow this year in China, the automaker's chief finance officer for China said. Tim Howard was speaking to reporters at the 2021 Shanghai Auto Show. Jaguar Land Rover will start making first plug-in hybrid vehicles in China this year. Overall auto sales in China surged in March for a 12th straight month, as the world's biggest car market leads the sector's recovery from the COVID-19 pandemic. READ MORE

2:57 PM

Nifty sectoral indices at this hour

2:54 PM

Glenmark Pharma hits 23-month high on Glenmark Life Sciences IPO plan

Shares of Glenmark Pharmaceuticals hit a 23-month high of Rs 587.50, up 3 per cent, on the BSE in intra-day trade on Monday after the company announced that its API (Active Pharmaceutical Ingredient) division, Glenmark Life Sciences, is planning to raise fund via an initial public offer (IPO).

 

The stock of the drugmaker is trading at its highest level since May 2019. It recovered 9 per cent from its intra-day low of Rs 539 touched on the BSE. At 02:15 pm, the stock was quoting 1 per cent higher at Rs 577 as compared to a 1.9 per cent decline in the S&P BSE Sensex. The trading volumes on the counter almost doubled with a combined around 12 million equity shares changing hands on the NSE and BSE. READ MORE

2:40 PM

NEWS ALERT :: PM will interact with leading doctors from across the country at 4.30 pm

2:33 PM

Automakers fear dent in sales as Covid-19 cases rise in India

The country's largest carmaker MSI stated that the auto sales were correlated closely with economic growth and also (being a discretionary purchase) with the consumer sentiment.

 

"The COVID-19 situation deterioration is obviously a negative for customer sentiment and thus has a negative impact on sales," MSI Executive Director (Sales and Marketing) Shashank Srivastava told PTI when asked about the impact of second wave of the pandemic on the company's sales. READ MORE

2:23 PM

EXPERT TAKE :: Naveen Kulkarni, Chief Investment Officer, Axis Securities on marker correction

The economic impact of the current rise in covid cases will be significant in the short term as it will lead to lockdowns across many states in the country. However, the demand is never fully destroyed, and will come back. For many industries like travel, tourism, restaurants and hotels the impact will be significant. IT, Pharma, Metals, Telecom and Consumer staples will be less impacted and provide support. Discretionary consumption will be the most impacted sector and will see challenges

2:13 PM

MARKET UPDATE:: Sensex off day's low, but still down 850 points

2:02 PM

SECTOR WATCH:: Nifty IT index off day's low

2:02 PM

Q&A | Markets could see a time and price correction: Valentis Advisors MD

After the sharp rebound in financial year 2020-21 (FY21), returns in FY22 will be relatively more muted, but still healthy in the low double-digits. Markets could see a time and price correction. A parallel was the market in FY10, where they nearly doubled from the March 2009 lows, yet gave a double-digit return for FY11. However, it was after a period of 4-6 months of consolidation in the first half of 2010. The surge in the virus cases in India and the consequent lockdowns; possible weakening of the economy and earnings as a consequence of the lockdowns; and rich valuations are the three things that could worry the market in the near term. READ FULL INTERVIEW HERE

1:51 PM

European markets check

(Source: Reuters)

1:51 PM

HDFC Bank embarks on 'Technology Transformation Agenda': MD tells employees

Having faced multiple episodes of digital banking glitches in the last two years, HDFC Bank has embarked on a 'Technology Transformation Agenda' to provide safe and secure banking services to its customers. HDFC Bank managing director Sashi Jagdishan in a letter to employees said the bank has faced five instances of downtime in last 28 months and every instance has hardened the bank's resolve to do better, keeping customers in mind. READ MORE

1:46 PM

Street signs: Indian markets still weak, volatility mars PSBs' QIP plans

Nifty still “not out of the woods” After its second-worst fall of the year, the Nifty rose three straight trading sessions last week. While global markets are hitting new record highs, analysts believe the Indian markets are still “not out of the woods”.

 

They say till the time the Nifty trades below its 50-day moving average (DMA) the trend could be weak. “The Nifty tested the 100-DMA and is still below the 50-DMA. If it breaches its recent low of 14,248, the market will be moved back to a downtrend,” says a note by MarketSmith India. READ MORE

1:34 PM

PVR, Inox Leisure skid up to 9% as Crisil downgrades long-term ratings

Shares of multiplex operators PVR and Inox Leisure extended their fall on Monday, declining up to 9 per cent on the BSE in the intra-day trade, after rating agency CRISIL downgraded its rating on the bank facilities of these companies over likely delay in recovery of operating performance due to the recent spike in Covid-19 cases. READ MORE

1:23 PM

Investors' wealth tumbles over Rs 3.70 lakh cr as markets crack

Investors' wealth in morning trade on Monday tumbled over Rs 3.70 lakh crore as markets went into a tailspin amid record surge in coronavirus cases in India. The 30-share BSE benchmark index tanked 1,469.32 points to 47,362.71 in early trade. Following the massive selloff, the market capitalisation of BSE-listed companies declined by Rs 3,70,729.4 crore to Rs 2,01,60,016.60 crore in morning trade.

(Text Source: PTI)