The major indices continued to post major losses on continuing fear of the deadly coronavirus. The trends of the major indices in the course of the week’s trading was:
On Monday, the major indices continued to decline heavily. On the NSE, there were 330 advances, 1,542 declines and 279 unchanged. The S&P 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 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.
On Tuesday, the major indices bounced back but declined after noon and ended with major losses. On the NSE, there were 621 advances, 1,206 declines and 314 unchanged.
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.
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.
On Wednesday, The major indices declined heavily. On the NSE, there were 273 advances, 1,569 declines and 283 unchanged.
The Supreme Court came down heavily on Telcos, the government and even the media as it said no further objection to its adjusted gross revenue (AGR) order will be allowed against the payable dues which sums up to Rs.1.47 lakh crore.
Budget carrier GoAir has temporarily suspended all its international operations from Tuesday due to the outbreak of coronavirus and the consequent travel restrictions.
KEC International has secured new orders of Rs.1,047 crore across its various businesses.
Rating agency Standard and Poor's (S&P) lowered the GDP forecasts for India to 5.2% from the earlier 5.7%.
On Thursday, the major indices were volatile and ended with losses, though much off the lows. On the NSE, there were 411 advances, 1,438 declines and 275 unchanged.
Reliance Industries has initiated a work from home protocol for all its employees across the country and overseas in response to the evolving coronavirus situation.
A day after temporarily suspending international operations due to coronavirus and the consequent travel restrictions, GoAir terminated contracts of expatriate pilots.
Tata Power is expanding its rooftop solar offerings to 90 cities.
Dilip Buildcon has received the letter of acceptance from the National Highways Authority of India for new HAM project in the state of Chhattisgarh. The bid project cost is Rs.860.50 crore. The completion period for this project is 24 months.
On Friday, the major indices bounced back and rallied with major gains. On the NSE, there were 1,156 advances, 672 declines and 294 unchanged.
Hero MotoCorp approached the Supreme Court seeking extension of the deadline for sale or registration of BS-IV vehicles by three months.
Amusement parks of Wonderla Holidays will remain closed till 31st March 2020. The decision was in accordance with the safety and precautionary instructions outlined by the Government to prevent and contain the spread of COVID 19.
Godrej Properties announced its entry into the Faridabad market with its first residential plotted development. Spread across 43.61 acres (17.65 hectares), this land parcel has been acquired from BPTP. This project will offer approximately 95,000 square meters (1 million sq. ft.) of plotted development potential offering attractive plot sizes along with good lifestyle amenities.
ICICI Lombard has rolled out a focused 'COVID-19 Protection Cover'. The policy has been launched in group insurance mode. Amid the contagious pandemic, this policy on diagnosis of COVID-19 (+ve) will pay 100% of the sum insured irrespective of hospitalization expenses.