MARKET WRAP: Sensex snaps 7-day losing streak, gains 480 pts; metals shine

All that happened in markets today

2:04 PM

MARKET CHECK | Top gainers on the BSE at this hour

1:58 PM

NEWS ALERT | Reliance Capital defaults on interest payments to two lenders

1:54 PM

NEWS ALERT | PNB Housing Fin approves raising Rs 1,700 cr via QIP: BSE filing

1:48 PM

NEWS ALERT | DoT to issue letter on difference b/w AGR calculation and dues received: sources to CNBC TV18

>> Except Tata Teleservices, no other co has submitted AGR calculation

>> DoT, so far, has received about Rs 24,000 cr for AGR dues

>> Voda Idea, Airtel yet to submit calculations

1:44 PM

NEWS ALERT | YES Bank approaches domestic financial institutions for investment: sources to CNBC TV18

>> Domestic institutions include SBI, Axis Bank, HDFC, LIC

>> Foreign investors, including Tilden, JC Flower, wanted preference issue below Sebi-formula price

>> Foreign investors working on Pref + Rights issue to bring the amount lower

>> Investors not sure if RBI will allow ownership beyond 74%

>> RBI may want foreign investors to have lock-in period

1:37 PM

MARKET CHECK

1:26 PM

SBI Cards IPO :: Issue subscribed 58% so far

1:24 PM

Decent growth in February volumes unlikely to fire up Coal India's stock

Even as markets were choppy on Monday, a decent growth in February coal volumes lifted Street sentiment towards Coal India’s stock pushing it up by over a per cent. The company had consistently reported a decline in volumes during the first half of FY20. READ MORE

1:10 PM

Coronavirus Update | 6 new cases with high viral load being tested in Agra, says Govt

1:07 PM

Currency Check | Rupee hits 73/$-mark

Source: Bloomberg

1:00 PM

NEWS ALERT | Lenders begin final voting on resolution of 3 ADAG cos: CNBC TV18

>> SBI-led consortium may recover 35% of dues from Rel Comm, Rel Infratel, Rel Telecom 

>> SBI likely to have voted in favour of resolution plan

>> The three cos' principal amount is outstanding at Rs 40.991 cr

12:49 PM

Bandhan Bank: Risks haven't subsided, negatives still outweigh positives

While the news seems to have helped Bandhan’s stock — which is down 2.6 per cent since last Tuesday, versus a 5.3 per cent fall in the Sensex — it is still down by over 22 per cent year-to-date because of concerns over slowing growth and asset quality. Signs of these were visible in its December quarter (Q3) results. READ MORE

12:41 PM

NEWS ALERT | India restricts exports of several API, drug formulations: Bloomberg

>> DGFT issues notification restricting export of 26 APIs, reports CNBC TV18

Alert: DGFT is Directorate General of Foreign Trade

12:40 PM

BROKERAGE RADAR | Prabhudas Lilladher on Hindalco Industries

Rating: BUY | CMP: Rs 151 | TP: Rs 220

Hindalco (HNDL) fell 16% in last one week, factoring in unrealistic scenario of demand and price collapse due to Covid-19 virus outbreak. The fall overlooks

strong quality of Novelis and resilient domestic operations. Admittedly, impending acquisition of Aleris would increase debt by USD2.6bn. However, diversified product mix and improvement in spreads presents better earnings outlook for Aleris. Given the attractive valuations due to fall in stock price, we upgrade HNDL to BUY with TP of Rs 220, EV/EBITDA of 6x FY21e.

12:31 PM

NEWS ALERT | Indian Railway Finance Corp gets Sebi's nod for IPO