Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

Mar 09, 2020 02:03 IST India Infoline News Service

  • Markets to open negative; support @ 10,600, resistance 11,000.
  • FIIs sold shares worth ~Rs3,594.8cr (cash), bought Rs2,543.8cr in index futures.
  • US markets end the week with gains; Asian indices trade lower amid oil price war.
  • Rupee ends 46p lower at 73.79/$.
  • Brent crude trades down at USD 34.20/bbl as OPEC deal failure sparks price war.
  • SBI Card sets issue price at Rs755 raises Rs10,340cr via IPO.
  • Forex reserves jump to a lifetime high of $481.54 bn, according to RBI.
  • ED arrested Yes Bank’s former MD & CEO Rana Kapoor on charges of money laundering under PMLA Act.
  • Moody's downgrades Yes Bank's long-term issuer ratings.
  • USFDA issued single observation to Natco Pharma’s Hyderabad unit.
  • SBI will acquire a 49% stake in Yes Bank and make an initial investment of Rs2,450cr, FM announced Friday post market hours.
  • IndusInd Bank Board meeting to raise funds has been deferred in view of the current market conditions and as the bank is adequately capitalized at present.
  • India Ratings downgraded ratings on PNB Housing Finance's NCD to AA from AA+ due to challenging operating environment for majority of NBFCs in the mid-to-higher ticket size housing loan segment, increasing pressure on asset quality and higher leverage in view of the portfolio composition.
  • Indiabulls Housing Finance's exposure to Yes Bank’s AT-1 bonds is close to Rs662cr.
  • DIPAM (Department of Investment and Public Asset Management) uploaded EoI for selling government’s entire stake in BPCL. Government will carve out BPCL’s 61.65% stake in Numaligarh Refinery Ltd. to a CPSE and that won’t be a part of the divestment.
  • Department of Justice says arbitration concludes in Novelis-Aleris merger dispute. Justice Department says arbitration decision in an antitrust lawsuit to block Novelis’s deal for Aleris will be issued by March 13. If DOJ wins, Novelis will have to divest assets to proceed with merger and if Novelis wins DOJ will dismiss its complaint.
  • Cox & Kings releases list of financial and operational creditors. It has a financial debt of Rs5,912cr. Major loans have been taken by Yes Bank (Rs2,285cr), Axis Bank (Rs1,065cr), SBI (Rs635cr) and IndusInd Bank (Rs270cr).
  • NCLT Chennai has approved a resolution plan submitted by Cochin Shipyards with respect acquisition of Tebma Shipyards.
  • Hikal said that it has received a notice from the Maharashtra Pollution Control Board (MPCB) for the closure of its Mahad Unit based on a complaint received from the local community in Taloja.
  • Natco Pharma received one observation for its formulation facility at Kothur by the USFDA, who had completed pre-approval inspection from March 2-6.
  • Novartis received demand notice for Rs169.52cr from the income tax department.
  • Canara Bank Board has permitted to offload equity shares of Commonwealth Trust through the bidding process.
  • Allahabad Bank has fixed March 23 as the record date for its amalgamation into Indian Bank.
  • Supreme Petrochem to consider share buyback on March 12.
  • PTC India received projects worth Rs75cr for its consulting business from EESL.
  • HPCL allotted debentures worth Rs1,400cr on March 6.
  • Gayatri Projects received Rs44cr from a settlement of its claim related to a NHAI project.
  • Bank of Maharashtra allotted bonds worth Rs600cr on March 6.

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