MARKET WRAP: Sensex falls 202 pts post AGR verdict; Voda-Idea tanks 23%

All that happened in markets today.

3:42 PM

SECTOR WATCH | Top losers and gainers on the NSE

3:41 PM

MARKET AT CLOSE | Top losers and gainers on the S&P BSE Sensex

3:39 PM

CLOSING BELL

The S&P BSE Sensex slipped 202 points or 0.49 per cent to end at 41,258-mark while NSE's Nifty50 closed the session at 12,113, down 61 points or 0.5 per cent. 

3:19 PM

Adani Enterprises hits 52-week high after it signs agreement with AAI

Shares of Adani Enterprises hit a fresh 52-week high of Rs 259, up 3 per cent on the BSE on Friday after its arm signed agreement with Airports Authority of India (AAI) for the operations, management and development of three airports. READ MORE  

3:01 PM

NEWS ALERT | Avenue Supermarts' OFS for Non-Retail investors fully subscribed

2:56 PM

SpiceJet soars 10% on 21% YoY rise in net profit; B737 may return this year

Shares of budget carrier SpiceJet surged as much as 10.27 per cent to Rs 93.4 on the National Stock Exchange (NSE) on Friday after the airline was back in the black and reported a standalone net profit of Rs 73.2 crore in the December quarter of FY20 (Q3FY20), as against Rs 55 crore in the corresponding quarter of the previous fiscal (Q3FY19). The airline had incurred a massive net loss of Rs 462.5 crore in the September quarter of the current fiscal. READ MORE

2:51 PM

Nifty sectoral indices at this hour

2:43 PM

MARKET UPDATE:: Nifty below 12,100

2:37 PM

Heatmap: S&P BSE Sensex

2:35 PM

MARKET CHECK | Pfizer plunges 9% post Q3 results

2:32 PM

Global Markets check

Asian shares inched higher on Friday, on course to post the second straight week of gains, helped by hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic.

European shares are expected to rise, with pan-European Euro Stoxx 50 futures up 0.21 per cent, German DAX futures adding 0.3 per cent and FTSE futures  ticking up 0.21 per cent.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.25 per cent on Friday for weekly gain of 1.77 per cent.

Japan's Nikkei dropped 0.59 per cent, not helped by the news of first coronavirus death and signs of a potential rise in domestic infections in the country.

Market sentiment improved also after World Health Organization official said the big jump in China’s reported cases reflects a decision by authorities there to reclassify a backlog of suspected cases by using patients’ chest images, and is not necessarily the “tip of an iceberg” of a wider epidemic.

In commodities, oil prices extended their week-old recovery on hopes that the world’s biggest producers would cut output more as demand looks set to drop sharply due to the outbreak of coronavirus.

2:20 PM

RESULTS CORNER:: Spicejet consolidated Q3 net profit up 21.1% YoY at Rs 78 cr

-- Revenue up 46.9% YoY at Rs 3,656.4 cr

-- EBITDAR at Rs 761.6 cr

2:18 PM

NEWS ALERT | GST Council meeting likely on March 14 in New Delhi: CNBC TV18

2:10 PM

Post-Budget trend shows nearly half of Nifty500 stocks trade below 50-DMA

Post Budget 2020-21, around 238 stocks have slipped below their 50-day moving average (DMA) while before the Budget, the numbers stood at 178. Among other moving averages, the scenario seems to be the same. For instance, stocks trading below 100-DMA before Budget were 162 which has now increased to 213 whereas stocks below 200-DMA before Budget were 189 but now stands at 206. READ MORE

2:10 PM

Rupee check

1:58 PM

IndusInd Bank hits over 3-year low; tumbles 11% in six sessions

Shares of IndusInd Bank slipped 4 per cent to hit an over three-year low of Rs 1,182 on the BSE on Friday amid concerns over rising bad loans. The private sector lender's stock was trading at its lowest level since January 10, 2017. It has now fallen below its previous low of Rs 1,192, touched on October 11, 2019. In the past six trading days, IndusInd Bank's stock price has slipped 11 per cent, as compared to a marginal 0.17 per cent rise in the benchmark S&P BSE Sensex. READ MORE

1:49 PM

SECTOR WATCH:: Metals decline

1:40 PM

MARKET UPDATE:: Sensex falls again

1:37 PM

NEWS ALERT | Karnataka High Court grants interim stay on CCI order against Amazon: CNBC TV18

1:19 PM

Shell, RIL win in English HC against govt in PMT oil, gas field dispute

The government had sought $3.5 billion in dues from Reliance and Shell-owned BG Exploration & Production India Ltd based on an October 2016 partial award of an international arbitration tribunal over the recovery of certain costs from the sale of oil and gas produced from the Panna-Mukta and Tapti fields.

 

The two firms had gone to the English High Court against the 2016 partial award. READ MORE

1:10 PM

AGR Verdict Impact | Vodafone Idea extend losses, tanks 30% from day's high

1:04 PM

NEWS ALERT | Non-retail portion of Avenue Supermart's OFS subscribed 24% till 12:45 pm

12:55 PM

AGR verdict: Voda-Idea to struggle; but duopoly may not be ideal solution

"Bharti Airtel and Reliance Jio, the telecom arm of Reliance Industries (RIL) will not face an issue due to the verdict as they have the means to pay. However, Vodafone Idea will struggle to survive unless they bring in a lot of money," said G Chokkalingam, founder & managing director of Equinomics. "There are many countries which have two telecom players, but the population size is not as big as India's. So, for our country whether duopoly in telecom sector is good or not, government has to take a call," Chokkalingam added. READ MORE

12:45 PM

Bharti Airtel surges 5%, hits new high after SC rejects telcos' plea

Shares of Bharti Airtel jumped 5 per cent to a fresh lifetime high of Rs 565 on the BSE on Friday as investors bet on a potential duopoly in the Indian telephony market after the Supreme Court today rejected the telcos' review plea on adjusted gross revenues (AGR) payments. In a major setback for the telecom companies, the Supreme Court rejected the plea seeking new schedule of AGR payments. READ MORE

 

12:31 PM

LIC IPO | Process may extend beyond FY21, says Macquarie

The investment banking and financial services firm in a note cast doubt on the chances of LIC hitting the IPO market in the next financial year (FY21), following its interactions with actuaries and valuers.

 

The report pointed out that the first step towards valuing the IPO would be to split LIC’s books into three parts — the traditional participating (PAR) book, non-PAR book, and shareholders’ funds. READ MORE

12:21 PM

NEWS ALERT | Cera Sanitaryware Board approves dividend of Rs 13/sh: BSE filing

12:17 PM

Ircon International surges 29% in three days on good Q3 results

Shares of Ircon International rallied 9 per cent and hit a new high of Rs 572 on the BSE on Friday after reporting margin improvement of 185 basis points in the quarter ended December 2019 (Q3FY20). The stock of the state-owned construction & engineering company was trading at its highest level since listing on September 28, 2018. In the past three trading days, the stock has surged 29 per cent, as compared to a marginal 0.35 per cent rise in the S&P BSE Sensex. READ MORE

12:07 PM

AGR verdict: SBI, IndusInd Bank slip up to 4% as banks stare at NPA pile-up

Among individual stocks, IndusInd Bank hit fresh 52-week low, down 4 per cent, to Rs 1181.1 on the NSE. Besides, IDFC First Bank slipped 2.7 per cent, RBL Bank (2.3 per cent), Axis Bank (2 per cent), HDFC Bank (1.9 per cent), Federal Bank (1.4 per cent), and SBI (1.8 per cent). YES Bank, however, were trading 8 per cent higher. As for ICICI Bank, the stock slipped up to 0.8 per cent, before paring losses to trade 0.8 per cent higher. READ MORE

12:07 PM

NEWS ALERT | WPI inflation for the month of January comes in at 3.1% vs 2.59% (MoM)

12:00 PM

IOL Chemicals jumps 6%