The markets are facing a perfect storm. Inflow from mutual funds had made us ignore the weakness in earnings growth. Now, funds flows are showing a sense of panic and fear, leading to a big fall. The coronavirus has impacted China deeply. And global China trade linkages, restrictions on movement of people and lock-down in a few cities have all added to a sense of panic and despair. This has...

We had mentioned in Monday’s closing report that Nifty, Sensex continue to remain under pressure. The major indices bounced back on Tuesday but declined after noon and ended with major losses. On the NSE, there were 621 advances, 1,206 declines and 314 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:

 

 

Indian stock markets erased all its gains made during the day amid a largely volatile trade as the NSE Nifty50 traded below the psychological mark of 9,000 points.

 

Stocks of the crisis-hit Yes Bank have surged over 60%, a day after Moody's upgraded its outlook for the bank and the Reserve Bank Governor assured that the bank's revival plan is credible bank and it may infuse more liquidity if required.

 

The Society of Indian Automobile Manufacturers (SIAM) has approached the Supreme Court seeking directions for ensuring sale and registration of BS-IV vehicles is allowed till the cut-off date of March 31, 2020.

 

Wipro announced the successful implementation of core banking solution for Kaveri Grameena Bank as part of the merger with Pragathi Krishna Gramin Bank to form, Canara Bank sponsored Regional Rural Bank (RRB), Karnataka Gramin Bank.

 

Indian Hume Pipe Company has received two work orders from Public Health Engineering Department (PHED), Jaipur, Rajasthan of Rs.295.51 crores in joint venture where the share of the company is 85% i.e.

 

Rs.251.18 crores and ii) Bilaspur Jaipur Water Supply Project Stage-II (Phase-I) of Rs.173.16 crores in joint venture where the share of the company is 60% i.e. Rs.103.90 crores. The project is to be completed within 30 months.

 

Meera Industries has procured an export order of worth USD $238,000 from ZM Makina Tekstil - Turkey - $180,000 and Tecelagem Inducor LTDA - Brazil - $58,000.

 

Alembic Pharmaceuticals has received Establishment Inspection Report (EIR) from USFDA for the inspection carried out by them at our API Facility at Karakhadi during the period from 13th January, 2020 to 17th January, 2020.

 

The Competition Commission Of India has passed an order under section 4 of the Competition Act 2002 dated 16 March 2020, imposing a penalty of Rs.301.61 crore on Grasim Industries in respect of its domestic Man-Made Fibre turnover.

 

The top gainers and top losers of the major indices are given in the table below:

 

 

The closing values of the major Asian indices are given in the table below:

 

We had mentioned in last week’s closing report that Nifty, Sensex would remain under pressure. The major indices continued to decline heavily.

 

On the NSE, there were 330 advances, 1,542 declines and 279 unchanged.

 

The trends of the major indices in the course of Monday’s trading are given in the table below:

 

 

The bloodbath in the stock markets continued during the afternoon trade as the BSE Sensex lost over 2,500 points and the Nifty50 was down over 700 points to trade below the 9,300 mark. 

 

Vodafone Idea has said that it has cleared the principal amount towards AGR dues as it paid Rs.3,354 crore to the Department of Telecommunications (DoT).

 

In a relief for telecom operators, the DoT moved the Supreme Court seeking an approval for a 20-year window for payment of around Rs1.47 lakh crore Adjusted Gross Revenue (AGR) dues.

 

Shares of SBI Cards and Payments Services made a weak debut on the stock exchanges as it opened at Rs.658, nearly 13% lower than its issue price of Rs.755.

 

Shares of crisis-ridden Yes Bank soared as its reconstruction scheme has come into effect, and the bank has announced that it will resume full-fledged operations on March 18. As the Yes Bank probe gathers momentum, the Enforcement Directorate has now decided to summon all the large borrowers who were given loans by the Rana Kapoor-led management.

 

Atul Ltd has partially disposed off equity shares held in Amal Ltd, subsidiary of the company. Consequently, Amal Ltd ceases to be a subsidiary company.

 

Bharat Heavy Electricals Limited (BHEL) has won a prestigious order for supply of state-of-the-art Electric Buses along with charging infrastructure of these buses for Gorakhpur City. The order has been placed on BHEL by the Urban Transport Directorate (UTD), Lucknow. These low floor, disabled-friendly Electric Buses will be deployed by UTD at the Gorakhpur airport.

 

Sadbhav Infrastructure Project Limited has received Rs.457 crore towards 2nd tranche in connection with the sale of entire equity share held y in seven operational road projects to the IndInfravit Trust. Balance funds are expected to be received soon. In all till now, it received funds of Rs.1,291 crore and units of Indinfravit Trust worth Rs.724 crore.

 

The top gainers and top losers of the major indices are given in the table below:

 

 

The closing values of the major Asian indices are given in the table below: