Page 1424 - Markets News
Nifty Pharma index hits 2-year low; Cipla, Divis, Laurus Labs at 52-wk lows
Analysts said the pace of US FDA inspections has again picked-up in the last few months post Covid, and they have seen increased incidents with 483 observations and adverse outcomes
 "Nifty Pharma index hits 2-year low; Cipla, Divis, Laurus Labs at 52-wk lows")
Sona Comstar up 8% as institutional investors buy Blackstone's 20.5% stake
Marquee investors like the Government of Singapore, Fidelity, FMR, ICICI Prudential Life Insurance and HDFC MF bought shares from Blackstone in the bulk deal.
 "Sona Comstar up 8% as institutional investors buy Blackstone's 20.5% stake")
SVB mess: Moody's puts First Republic, 5 other US banks on downgrade watch
The credit rating company cited concerns over the lenders' reliance on uninsured deposit funding and unrealized losses in their asset portfolios
 "SVB mess: Moody's puts First Republic, 5 other US banks on downgrade watch")
Bajaj Finance declines for fifth straight session, sheds 6% in one week
In the past six months, the stock has plunged 23 per cent as compared to a 3.4 per cent fall recorded by the Sensex
 "Bajaj Finance declines for fifth straight session, sheds 6% in one week")
Divgi TorqTransfer erases listing gains; slides 5% below issue price on NSE
The stock was listed with a 5 per cent premuim at Rs 620 on the NSE. This was over its issue price of Rs 590 per share
 "Divgi TorqTransfer erases listing gains; slides 5% below issue price on NSE")
Bias turns positive; Gold may rally towards Rs 58,700, Silver Rs 70,000
The near term bias for MCX Gold April futures is likely to remain bullish as long as the commodity sustains above Rs 57,100.
 "Bias turns positive; Gold may rally towards Rs 58,700, Silver Rs 70,000")
Ravi Nathani recommends to buy IT, FMCG stocks on dips; Avoid metals
With an view to capitalize on a potential technical bounce, the technical analyst advises traders to adopt a buying strategy near the support price.
 "Ravi Nathani recommends to buy IT, FMCG stocks on dips; Avoid metals")
Stocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton
Stocks to watch today: From Lupin to Gail (India), here are stocks to watch out in Tuesday's trading session
 "Stocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton")
Fear grips D-Street: Markets hit five-month lows over SVB crisis
Sensex, Nifty plunge 1.5% amid contagion fears
 "Fear grips D-Street: Markets hit five-month lows over SVB crisis")
Centre bats for sovereign rating upgrade in meet with global agencies
S&P and Fitch rate India 'BBB-' and Moody's 'Baa3', all indicative of lowest-possible investment grade, but with stable outlook. These ratings are used to judge country's creditworthiness
 "Centre bats for sovereign rating upgrade in meet with global agencies")
Sebi relief for large registrars on enhanced reporting requirements
Markets regulator Sebi provided relaxation of 60 days to large Registrars to an issue/ Share Transfer Agents (RTAs) from complying with the enhanced requirements pertaining to periodic reporting
 "Sebi relief for large registrars on enhanced reporting requirements")
PNB Housing Finance's Rs 2,500 crore rights issue gets Sebi's nod
PNB Housing Finance, an arm of state-owned Punjab National Bank, has received capital markets regulator Sebi's go ahead to raise up to Rs 2,500 crore through rights issue of shares
 "PNB Housing Finance's Rs 2,500 crore rights issue gets Sebi's nod")
Blackstone sells entire 20.5% stake in Sona BLW; stock tanks nearly 7%
HDFC Bank, Singapore's GIC and Societe Generale among buyers of about 120 mn shares; analysts say Blackstone exit removes a key overhang for the Sona stock
 "Blackstone sells entire 20.5% stake in Sona BLW; stock tanks nearly 7%")
IndusInd Bank slips 7% as RBI reappoints MD & CEO for shorter tenure
RBI's approval for reappointment of MD & CEO being for a lower tenure compared to board approval, which was for three years, could keep stock under pressure in near term
 "IndusInd Bank slips 7% as RBI reappoints MD & CEO for shorter tenure")
Over Rs 100-crore relief for ETFs as Yes Bank three-year lockup ends
The lock-in on 75% of shares had led fund houses to markdown holdings in ETF and index funds to 'zero', as per recommendation from valuation committee of Amfi
 "Over Rs 100-crore relief for ETFs as Yes Bank three-year lockup ends")
SVB collapse: Large domestic deposits cushion Indian banks, say analysts
Mark-to-market impact on Indian banks seen limited thanks to HTM provisioning
 "SVB collapse: Large domestic deposits cushion Indian banks, say analysts")
Fed may not pause rate hike cycle despite SVB crisis: Nomura
US inflation, Nomura said, is still elevated and the Fed will look to bring it down going ahead.
 "Fed may not pause rate hike cycle despite SVB crisis: Nomura")
Real estate market's hall of mirrors no fun house, but mood upbeat
Despite multi-year low valuations, brokerages see rise in demand and fall in inventory
 "Real estate market's hall of mirrors no fun house, but mood upbeat")
Market turmoil leaves investors poorer by more than Rs 4.4 trillion
Domestic equity investors' wealth eroded by more than Rs 4.43 trillion as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments
SBI MF's dividend yield fund collects over Rs 3,600 crore during NFO
NFO receives around 123,000 applications from over 70% of pincodes in India, the fund house says
 "SBI MF's dividend yield fund collects over Rs 3,600 crore during NFO")