Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

All that happened in the markets today.

10:02 AM

Market Check

 

S&P BSE Sensex	34,157.82		-0.55%
Nifty 50	10,486.95		-0.64%
S&P BSE 200	4,588.57		-0.49%
Nifty 500	9,245.35		-0.61%
S&P BSE Mid-Cap	16,524.34		-0.46%
S&P BSE Small-Cap	18,017.68		-0.40%

9:55 AM

Edelweiss on Ambuja Cement - ACC merger deferrment news

Ambuja Cement (ACEM) has put on hold its plan to merge with 50.1% subsidiary ACC. Meanwhile, an arrangement to trade materials and services with ACC to maximise synergies has been approved. The latest communiqué does not quantify the value or timeline of such synergies versus an initial claim of USD120-150mn p.a. (ACC and ACEM combined over two years; mentioned as one of the rationales for restructuring undertaken in July 2013 and implemented in August 2016).

While conservatively we had not factored in synergy benefits in our estimates, putting the merger on back burner is nonetheless disappointing as it was envisaged to expedite accrual of claimed synergies. With limited visibility on merger, we now value ACEM’s stake in ACC at 30% holdco discount (20% earlier) even as we continue to value ACEM and ACC at 14x CY19E EV/EBITDA. Maintain ‘HOLD’ with revised target price of Rs 280 (Rs 290 earlier)

9:54 AM

News Watch Another loan default case: Corporation bank reports Rs 68 mn-fraud to CBI

The Central Bureau of Investigation (CBI) has booked an auto dealer in Jamshedpur for allegedly defrauding the Corporation Bank to the tune of Rs 67.7 million (Rs 6.77 crore). READ MORE

9:47 AM

PACL case: Sebi extends deadline till March 31 for filing refund claims

Markets regulator Sebi today extended the deadline till March 31 for 'certain' investors of PACL Group to submit their claims for refund of money invested in the company's illegal investment schemes. READ MORE

9:39 AM

News Alert: INX Media case: Karti Chidambaram arrested by CBI in Chennai, say reports

Karti Chidambaram, businessman and the son of former finance minister P Chidambaram, was arrested by the Central Bureau of Investigation (CBI) on Tuesday in Chennai in connection with the INX Media case, news channels reported. READ MORE

9:32 AM

BSE Smallcap: Gitanjali, JP Infratech among top losers, Graphite top gainer

9:28 AM

BSE Midcap: Vakrangee, IDBI among top losers, Biocon top gainer

9:26 AM

IDBI Bank stock plunges 5%

9:24 AM

PNB stock slips nearly 5%

9:20 AM

Sectoral Trend

9:20 AM

PSU Banks slip

9:19 AM

Sensex top gainers and losers

9:18 AM

Index watch

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,111.87	-234.52	-0.68
S&P BSE SENSEX 50	10,938.16	-79.54	-0.72
S&P BSE SENSEX Next 50	33,660.53	-341.04	-1.00
S&P BSE 100	10,835.24	-83.91	-0.77
S&P BSE Bharat 22 Index	3,578.43	-33.11	-0.92

9:18 AM

Market at open

 

At 9:17 am, the S&P BSE Sensex was trading at 34,113 down 232 points while the broader Nifty50 was ruling at 10,472 down 81 points.

9:11 AM

No transaction fee on cross currency F&O derivatives trade, says NSE

Leading bourse NSE will not levy any transaction fee on the trades done in cross currency derivatives for three months starting on Tuesday, in order to encourage active participation in such contracts. CLICK HERE FOR FULL STORY