Sensex ends 280 pts up; bank stocks gain post SC verdict in moratorium case

Sectorally, the Nifty PSU Bank index emerged as the winner with 3 per cent gains by close. The other two banking indices too settled 1.7 per cent higher each

3:02 PM

MARKET UPDATE:: HDFC Bank, ICICI Bank, RIL among top contributors to Sensex's 400-pts gain today

2:56 PM

Glenmark gets USFDA nod for generic high blood pressure drug

Drug firmGlenmark Pharmaceuticals on Tuesday said it has received approval from the US health regulator for its generic Diltiazem Hydrochloride extended release capsules used for treatment of high blood pressure.

 

The company has received final approval from the United States Food & Drug Administration (USFDA) for Diltiazem Hydrochloride extended-release capsules USP, in the strengths of 60 mg, 90 mg, and 120 mg, Glenmark said in a statement. READ MORE

2:46 PM

Is IPO euphoria fading? GMPs of recent issues slide ahead of listing

A correction in the secondary market along with a disappointing performance by the recently listed initial public issues (IPOs) has dented the grey market premiums for the shares of companies that are up for listing over the next few days. In the past few weeks, the benchmark indices have corrected somewhat amid concerns over rising Covid cases and a spike in bond yields which has dampened the risk appetite for investors, according to analysts. READ MORE

2:34 PM

Sebi appoints forensic auditor to vet financial statements of Suzlon Energy

Suzlon Energy on Tuesday said market regulator Sebi has appointed forensic auditor to carry out forensic audit of its financial statements. "The company is in receipt of a letter from the Securities and Exchange Board of India (Sebi) dated March 22, 2021, informing the company that it (Sebi) has appointed the forensic auditor to carry out forensic audit with respect to the financial statements of the company," it said in a regulatory filing. 

 

(Source: PTI)

2:28 PM

MARKET UPDATE:: Sensex near day's high

2:26 PM

Tale of two countries: India's Covid-19 trajectory is similar to the US'

India on Monday saw another massive surge in daily coronavirus infections, with nearly 50,000 cases being reported in a day. While about two-thirds of these infections were from Maharashtra alone, cases in other states also saw an increase.

 

This late surge came days after India’s coronavirus situation appeared to be thawing: Just 20 days earlier, the country’s daily cases had been in the ballpark of 12,000. India has differed from the US, the country most affected by the pandemic, in its approach to handling the virus — the burden of cases in proportion to population is much lower in India. But it seems to be following the same trajectory as the US in so far as the second wave of Covid-19 infections is concerned. READ MORE

2:17 PM

Alkyl Amines surges 12%, hits fresh high ahead of stock split

Shares of Alkyl Amines Chemicals rallied 12 per cent to Rs 5,990, also its new high on the BSE in intra-day trade on Tuesday ahead of the sub division of face value of equity shares from Rs 5 to Rs 2. On Friday (March 19), the specialty chemicals maker announced that it has got the shareholders' approval for the stock split. READ MORE

2:07 PM

Phillips Carbon in focus

>> Icra Rating upgrades long-term credit rating from 'AA-' to 'AA'

>> Outlook upgraded to 'stable'

2:06 PM

European markets check

(Source: Reuters)

2:00 PM

After govt's intervention, Sebi eases valuation norms for AT-1 bonds

In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period. And from April 2023 onwards, the residual maturity of AT1 bonds will become 100 years from the date of issuance of the bond. READ MORE

1:50 PM

SBI, HDFC Bank: How to trade banking stks post SC's loan moratorium verdict

BANKNIFTY: The index has broken below its 50-day moving average (DMA), currently placed at 34,390 levels. Until the index conquers this resistance, the upside bias may remain muddled. The next resistance comes at Rs 34,900 levels. Nevertheless, until the index holds above 33,000 levels, the upside breakout above the 50-DMA may see an added interest of market participants, as per the daily chart. READ MORE

1:36 PM

AstraZeneca may have used outdated info in coronavirus vaccine trial: US

Results from a US trial of AstraZeneca's COVID-19 vaccine may have used "outdated information," US federal health officials said in a statement early Tuesday.

 

Late Monday, the Data and Safety Monitoring Board said in a statement that it was concerned that AstraZeneca may have provided an incomplete view of the efficacy data. READ MORE
 

1:24 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

1:13 PM

Loan moratorium case: SC verdict may hit banks in short-term, say analysts

The Supreme Court (SC) pronouced verdict on loan moratorium case on Tuesday and declined to extend the six months loan moratorium, observing further that the waiver of complete interest is not possible. The apex court said that the waiver of complete interest is not possible as it affects depositors. However, it said that any amount collected as compound interest shall be adjusted to the next installment payable instead of refunding it to the borrower irrespective of the loan amount. READ MORE

1:01 PM

Moratorium verdict: Prepare for shock when a more realistic picture emerges

The coronavirus (Covid-19) pandemic led to many financial relief measures, which complicates the assessment of banking performance. The Reserve Bank of India (RBI) offered a moratorium on bank loans for the period April-August 2020. In September, the Supreme Court (SC) issued a stay order on a proposal to extend the moratorium. It also directed banks to not tag any bad loans as “NPAs” (Non-performing assets) until and unless the loan was already declared an NPA by August 31. READ MORE