ALSO READSensex ends 330 pts higher, Nifty above 10,550; IT, pharma, realty gain Indices end flat, Nifty settles at 10,227 levels; PSU banks, metals lose Indices snap 6-session losing streak, Sensex rises 318 points; banks lead Nifty ends below 10,500, Sensex down nearly 300 pts; PSU bank index dips 2% Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall
PSU Banks recover Sectoral trend Sensex heatmap Markets at close The S&P BSE Sensex ended the day at 33,836, down 21 points hwile the broader Nifty50 index settled at 10,411, down 16 points Torrent may raise Rs 15 bn via QIP as it readies to bid for Sanofi assets Ahmedabad-based Torrent Pharmaceuticals is all set to raise around Rs 15 billion through the qualified institutional placement (QIP) route, as it gets ready to bid for Sanofi's generic drugs unit (Zentiva), sources close to the development said. An e-mail sent to the company on the matter remained unanswered. A source close to the development said that the funds might be used to act as a 'war chest' for Torrent, as it readies to make a bid for the European asset. Another source felt Torrent might also use the funds for capital expenditure purposes apart from the potential acquisition. READ MORE InterGlobe Aviation slips InterGlobe Aviation fell 2.61% to Rs 1,268.55 on BSE, following aviation regulator's order to ground certain A320Neo aircraft due to an ongoing Pratt & Whitney engine issue.
The S&P BSE Sensex ended the day at 33,836, down 21 points hwile the broader Nifty50 index settled at 10,411, down 16 points.
Among banking indices, the Nifty PSU Bank index ended 1.75% higher on Wednesday. The index had hit an intra-day low of 2,846.
RBI, on Tuesday, had barred banks from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route used by fugitive jeweller Nirav Modi and his uncle Mehul Choksi for allegedly committing India's biggest bank fraud.
In key economic data released Wednesday, India's annual wholesale price inflation eased to 2.48 per cent in February for the third straight month after touching an eight-month high in November, helped by a softer rise in food and fuel prices.
Asian shares eased on Wednesday amid fears of rising US protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and eyes hefty tariffs on Chinese imports.