Inventory market LIVE: Sensex dips 450 pts, Nifty checks 22K; OMCs sink as much as 5% | Information on Markets

10:21 AM

Edelweiss Stress Take a look at Outcome: Can liquidate 50% of SmallCap Fund in 3 days

In its first disclosure the mutual fund stated it could take as much as 2 days to liquidate 50 per cent of the MidCap Fund portfolio, value Rs 5,066.60 crore. 25 per cent of the fund portfolio will be liquidated in 1 buying and selling session. READ MORE

10:05 AM

BPCL, HPCL, IOC shed as much as 6% on petrol, diesel value cuts, margin worries

Hindustan Petroleum Company (HPCL) slipped 6 per cent to Rs 469.70, whereas Bharat Petroleum Company (BPCL) and Indian Oil Company (IOC) have been down 4 per cent every at Rs 584.10 and Rs 163.60, respectively, in intra-day commerce. READ MORE

9:53 AM

Remark :: ‘Thursday’s rebound is unlikely to maintain’

The rebound out there yesterday after the Wednesday crash is unlikely to maintain. Brent crude rising to $85 and the 10-year US bond yield spiking to 4.29% are headwinds for the market.

Outcomes of the stress checks carried out by the mid and small cap schemes of mutual funds anticipated at this time shall be keenly watched by the market.

If there are clear indicators of stress there will be regulatory motion by the Sebi, which is able to impression sentiments within the broader market. Even with out stress checks, one factor is evident: the broader market valuations are costly and in some pockets valuations are frothy.

That is clearly unsustainable. Even when prospects for sure sectors are good, valuations have run forward of fundamentals.

Low floating inventory in lots of segments has resulted in costs capturing up. Traders ought to perceive that top high quality largecaps with good development prospects can be found at truthful valuations. Focussing on such shares could be safer than chasing smallcaps with stretched valuations.

Views by: V Ok Vijayakumar, Chief Funding Strategist, Geojit Monetary Companies.

9:41 AM

Shakti Pumps hits 5% higher circuit on order win

>> The corporate obtained a Rs 93 crore order from the Maharashtra Power Division.

9:39 AM

Gufic Bio holds positive factors in weak market on patent win

>> The corporate has been granted a patent for an invention entitled ‘Lyophilized Pharmsceutical Compositions of Dalbavanci’.

9:37 AM

Eris Life to purchase Biocon’s India-branded formulation biz; shares in purple

>>> Eris Lifesciences, a continual therapy-focused drug agency, has acquired the India-branded formulation enterprise of Biocon Biologics, a subsidiary of Biocon, for Rs 1,242 crore. This consists of portfolios in insulin, oncology, and significant care.

>> Eris Life sheds over 1%, Biocon 3.45%

9:34 AM

Bombay Burmah Buying and selling Corp in purple on tax searches

>> The Assistant Commissioner of State Tax, Mumbai, has initiated a search on March 13 at its registered workplace in Mumbai beneath the Maharashtra Items and Companies Tax Act.

9:31 AM

IIFL Finance uneven after Fitch places it on unfavourable watch

>> Fitch Scores has positioned IIFL Finance on ‘Ranking Watch Unfavourable’, days after the Reserve Financial institution of India requested the corporate to cease new gold-backed lending.

9:29 AM

YES Financial institution off highs; Financial institution to behave as service provider buying financial institution to Paytm

>> YES Financial institution will act because the service provider buying financial institution for Paytm’s current and new UPI retailers.

>> With this, the @Paytm deal with would even be redirected to YES Financial institution.

9:27 AM

Paytm hits 5% higher circuit as NPCI okays TPAP position

>> The Nationwide Funds Company of India (NPCI) has granted approval to One97 Communications Restricted (OCL), the mum or dad agency of Paytm, to take part in UPI providers as a Third-Get together Software Supplier (TPAP) beneath multi-bank mannequin.

9:24 AM

Buzzing :: OMCs fall on double whammy of value minimize, brent crude surge

>> The Centre has lowered costs of petrol and diesel by Rs 2 per litre, efficient from March 15, 6 AM.

>> The transfer comes at a time when Brent crude oil is hovering above $85 per barrel.

8:58 AM

Zee fund diversion case: Chandra suppressed materials details, Sebi tells SAT

The Securities and Change Board of India (Sebi) informed the Securities and Appellate Tribunal (SAT) on Thursday that Essel Group Chairman Subhash Chandra suppressed materials details within the alleged fund diversion case involving Zee Leisure Enterprises. Learn
In January 2019, when ZEEL’s stock price went into a freefall on rumours of the crisis, Chandra wrote an open letter stating the problem, accepting responsibility for it and requesting for time to settle it. It calmed the markets.