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

12:47 PM

Market breadth in favour of buyers

12:44 PM

NEWS ALERT :: Airtel Africa announces sale of tower companies in #Madagascar & Malawi for approximately $108 m

The transaction is expected to close by Q4CY21

12:32 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Bank Of Maha	19.20	20.90	20.90	8.85
Adani Transmissi	788.65	859.20	850.30	7.82
Adani Enterp.	993.20	1086.35	1062.70	7.00
Adani Total Gas	832.90	915.00	888.15	6.63

12:29 PM

Allana Group picks up minority stake in LT Foods

Processed food manufacturer Allana Group on Tuesday said it has picked a minority stake in consumer products firm LT Foods. "The Group has picked up a one per cent stake in LT Foods with an investment of Rs 20 crore," the company said in a statement. Both companies have plans to use their synergies and technology transfer to expand LT Foods' consumer products business to focus on value-added and impulse products, it added.

(Source: PTI)

12:15 PM

Insecticides board to mull share buyback on March 30; stock surges 11%

Shares of Insecticides (India) surged 11 per cent to Rs 492 on the BSE in intra-day trade on Tuesday after the agrochemicals company said its board will meet on March 30 to consider a share buyback proposal. “A meeting of the board of directors of Insecticides (India) is scheduled to be held on Tuesday, March 30, 2021, inter-alia, to consider the proposal for buyback of the fully paid-up equity shares of the Company of the face value of Rs 10 each, as well as, matters related/incidental thereto,” the company said in an exchange filing. READ MORE

11:59 AM

India home to 100 unicorns with a combined m-cap of $240bn: Credit Suisse

India is now home to the third-largest set of unicorns globally, behind the US and China, and commands a total valuation of $90 billion, suggests a recent Credit Suisse report. Compared to 336 listed companies with $1 billion in market capitalisation (market-cap), there are now 100 unicorns in India with a combined market-cap of $240 billion, the report says. READ MORE

11:48 AM

Bank stocks rally post Supreme Court verdict in loan moratorium case

Bank stocks, on Tuesday, rebounded from their intra-day lows on the bourses after the Supreme Court rejected the pleas from various trade associations and corporate bodies to extend the six-month loan moratorium period offered by the Reserve Bank of India (RBI), adding that a complete waiver of interest during the moratorium cannot be granted either. READ MORE

11:37 AM

MARKET CHECK

11:24 AM

NEWS ALERT :: Insecticides India board will consider a share buyback on March 30

11:16 AM

Deepak Nitrite gains 8% in three days on Crisil's credit rating upgrades

Shares of Deepak Nitrite were up 5 per cent at Rs 1,603 on the BSE in intra-day trade on Tuesday, having gained 8 per cent in the three trading days after the rating agency Crisil upgraded bank loan facilities of the company to 'stable' from 'positive'. The stock of the commodity chemicals company had hit a record high of Rs 1,691.55 on March 4. READ MORE

11:16 AM

SECTOR WATCH :: Bank stocks off highs

11:04 AM

Sharp uptick in Sensex; SBI, IndusInd Bank gain up to 3%

11:02 AM

Loan Moratorium Case :: Justice MR Shah says-

>> We are of the opinion that there shall be no interest on interest or compound interest during moratorium period irrespective of loan amount

>> There shall be additional measures taken to grant sector specific reliefs by RBI

>> If refund is not possible, the interest on interest collected shall be adjusted in the next installment payable.

11:01 AM

Loan Moratorium Case :: No justification of not charging interest on interest for loans up to Rs 2 cr only

>> Even otherwise scheme granting waiver of compound interest has been considered.

>> Govt has provided deferment of moratorium.

Views by Justice MR Shah

10:58 AM

Loan Moratorium Case :: Justice MR Shah says

>> From various steps taken by Centre and RBI, it cannot be said that centre has not taken steps in backdrop of Covid-19.

>> Therefore petitioners will not be eligible for waiver of interest on interest, extend moratorium period, or sector specific reliefs.

>> Granting of any such relief will have far reaching economic implications.

>> We have seen National Plan under DMA is there. DMA 2005 Is a complete code in itself.