Is Extreme Fear in the Market Justified?
The Indian markets crashed on Friday to hit the circuit breaker, as panic gripped markets around the world. The panic is high because coronavirus seems to spread rapidly. Adam Kucharski studies the math behind outbreaks for the London School of Hygiene & Tropical Medicine. Once there is a death, it means a lot of a lot of community transmission has already happened. At 3% mortality rate, if...
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  • Nifty, Sensex remains under pressure – Weekly closing report
    The major indices crashed on continuing fear of the deadly coronavirus. The S&P BSE Sensex posted its worst ever decline on Thursday after declining nearly 3,000 points. The trends of the major indices in the course of the week’s trading was:
     
     
    On Monday, the mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.
     
    While seeking custody of Yes Bank founder Rana Kapoor, the Enforcement Directorate contended that prima facie he was involved in generating Rs 4,300 crore in black money and "laundering" the amount.
     
    Bondholders with exposure to Yes Bank's additional tier-1 securities have approached the Bombay High Court against a decision to write down their investments in the struggling bank as part of a draft rescue plan, sources privy to the development said.
     
    Pennar Industries bagged orders worth Rs.550 crore across its business verticals during the month of February 2020. It received orders for manufacturing plants, airport terminal, solar mounting structures and warehouses from leading names such as MRF, Mega Wide - GMR GoaAirport, Azure Power, Saffron Grid, TVS ILP, and Indus Project.
     
    The USFDA inspected Cadila Healthcare’s formulations manufacturing facility located at Baddi from 2nd to 9th March, 2020. This was a cGMP and Post Approval Inspection. At the end of the inspection, no observation (483) was issued.
     
    On Tuesday, the markets were closed on account of the celebration of Holi.
     
    On Wednesday, the major indices were volatile and ended with minor gains over Monday’s close. On the NSE, there were 774 advances, 1,036 declines and 348 unchanged.
     
    Adani Enterprises won a Rs1,546-crore project from National Highways Authority of India (NHAI) under the hybrid annuity mode for building a stretch of NH-16 in Andhra Pradesh under Bharatmala Pariyojana. 
     
    The share price of Reliance Industries jumped 6% post Monday rout as oil prices rose and Macquarie upgraded it. RIL had hit a 52-week low of Rs.1,094.95 on Monday. However, stock prices of HPCL and BPCL declined over 4%. 
     
    Shares of YES Bank zoomed 35% after administrator Prashant Kumar said he was hopeful of the moratorium on the private sector lender being lifted by Saturday. YES Bank has been put under a moratorium by the central bank RBI till April 3, and customers are not allowed to withdraw more than Rs50,000 from their accounts.
     
    On Thursday, the major indices crashed and posted huge losses. On the NSE, there were 138 advances, 1,831 declines and 75 unchanged. 
     
    The State Bank of India (SBI) approved the purchase of 725 crore shares in Yes Bank at Rs10 per share, which added up to an investment of Rs7,250 crore.
     
    Bharti Airtel acquired 10% stake in a fitness startup, Spectacom Global Pvt Ltd. Also, it has cleared Rs.13,000 crore in the AGR dues with the government against a demand of Rs.35,500 crore.
     
    Coal India approved interim dividend for the financial year 2019-20 @Rs.12/- per share. The company has fixed 20 March 2020 as 'record date'.
     
    In the wake of deadly coronavirus spread across the world, national passenger carrier Air India has decided to immediately suspend its flights to Italy and South Korea, two of the worst affected countries, sources said.
     
    On Friday, the Sensex and Nifty rose over 3% on Friday afternoon, registering the biggest ever recovery. Both the indices earlier hit their lower circuit and trading was halted for 45 minutes.
     
    The Union Cabinet approved a reconstruction plan for cash-strapped Yes Bank, under which the State Bank of India will pick up 49% of the equity, while private investors will be allowed to buy the rest.
     
    The domestic automobile sales continued to decline in February with the overall sectoral off-take plunging 19.08% on a year-on-year basis.
     
    Bandhan Bank stock will replace YES Bank in Bank Nifty. The stock is being replaced in the index on account of non-availability of futures and options contracts.
     
    Brokerage CLSA upgraded Vodafone Idea to ‘buy’ from ‘sell’ and raised target price on the stock as it believes the risk-reward has turned favourable.
     
  • User 

    Granules India: High Margins, High Growth but is it Sustainable?
    Granules India’s (Granules) business is bucketed in two areas; the core business comprises common drugs like Paracetamol, Ibuprofen, Metformin, Guaifenesin and Methocarbamol; the emerging business focuses on manufacturing active pharma ingredient (APIs) or bulk drugs with a focus on vertical integration.
     
    From FY14-15, Granules has been working towards expanding into complex...
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