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Share market update: Consumer Durables shares trade lower; Crompton slips 4%
NEW DELHI: Consumer Durables shares were trading lower in Wednesday's session.

Shares of CROMPTON (down​ 4.43 per cent)​, TTK Prestige (down​ 1.97 per cent)​, Titan Company Ltd (down​ 1.4 per cent)​, Voltas (down​ 1.01 per cent)​, PC Jeweller (down​ 0.75 per cent)​, Symphony (down​ 0.5 per cent)​, Whirlpool of India (down​ 0.17 per cent)​ and Blue

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Buy Maruti Suzuki, price target Rs 6,600: Kunal Bothra

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Trump blames oil fight, 'Fake News' for stock market drop
WASHINGTON: U.S. President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified "Fake News," for a precipitous drop in U.S. stock prices on Monday, amid sliding demand for crude due to the coronavirus.

In a series of tweets, Trump also said the associated plunge in oil prices would benefit

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Share market update: Telecom shares rise; Vodafone Idea jumps 11%
NEW DELHI: Telecom shares were trading with gains in Wednesday's morning session.

Shares of Vodafone Idea (up 10.75 per cent), Bharti Infratel Ltd (up 5.52 per cent), Reliance Communications (up 4.65 per cent), Mahanagar Telephone Nigam (up 2.26 per cent), Tejas Network (up 1.18 per cent), ITI (up 0.9 per cent), Bharti Airtel (up 0.88 per cent),

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Recession looms in Europe as French seek ‘call to arms&
The euro-area economy may be headed for its first recession in seven years as the coronavirus outbreak takes an increasing toll on businesses and consumer confidence.

With Italy attempting a sweeping lock-down across its richest areas and infections nearly doubling in Spain, economists at Morgan Stanley and Berenberg expect eurozone gross domestic

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By Enda Curran, Christopher Anstey and Liz Capo McCormickThe Federal Reserve lifted the amount of temporary cash it’s willing to provide markets as pressure intensifies for the U.S. central bank to tackle the risk of a worldwide credit crunch.

The Federal Reserve Bank of New York will increase the size of this week’s overnight and term repurchase o

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Share market update: Power shares down; Tata Power dips 2%
NEW DELHI: The BSE Power index was up in Wednesday's morning session.

Shares of Reliance Infrastructure (down​ 6.58 per cent)​, Tata Power Company (down​ 2.4 per cent)​, ABB India Ltd (down​ 2.19 per cent)​, JSW Energy (down​ 2.11 per cent)​, Thermax (down​ 1.9 per cent)​, Siemens (down​ 1.06 per cent)​, Torrent Power (down​ 0.47 per cent)​, Adani

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US yield curve inside 1% sounds alarm for global bond markets
New York: The entire yield curve for US bonds fell below 1% for the first time in history after an all-out price war between the world’s biggest oil exporters triggered an unprecedented global bond rally.

US Treasury yields plunged, with the rate on 30-year bonds diving as much as 59 basis points, as rising expectations the Federal Reserve will

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Axis, the trustee company representing angry bondholders, moved the court on Monday to restrain the central government and Reserve Bank of India (RBI) from hurriedly implementing the proposed scheme to reconstruct Yes bank till it is heard and given enough time to formally put across the views of bond investors.

Bond investors -- which include

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Investors brace for crucial week with YES earnings, Lodha bonds
By Suvashree GhoshInvestors will get crucial clarity in the coming days on the health of India’s 130 trillion rupee ($1.75 trillion) financial sector.

The nation’s biggest developer is racing to refinance $324 million debt maturing March 13, and any stumble could lead to one of India’s largest offshore bond defaults. Then, a day later, Yes Bank Ltd

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By P R SanjaiIndian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and p

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YES Bank AT1 bond write-down: These MFs, pension funds stand to lose most
Mutual funds owned by Nippon, Kotak, Franklin and firms like Reliance Industries, Barclays Bank, Bajaj Allianz including 34 institutions and pension funds stand to lose thousands of crores with the Reserve Bank of India deciding to wipe out their AT1 bond investments in Yes Bank.

If the draft reconstruction scheme for Yes Bank is exercised, Nippon

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Share market update: OMCs trade in the red; BPCL slips 4%
NEW DELHI: The BSE Oil - Gas index was trading lower in Wednesday's morning session.

Shares of GAIL (India) (down 6.83 per cent), Bharat Petroleum Corporation (down 4.2 per cent), HPCL (down 4.13 per cent), Indian Oil Corporation (down 3.92 per cent), Indraprastha Gas (down 1.55 per cent), Oil - Natural Gas Corporation (down 1.54 per

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Mumbai: The slump in oil prices on Monday precipitated by the price war between Saudi Arabia and Russia saw shares of Indian oil explorers plummeting. Oil and Natural Gas Corporation (ONGC) dropped 16% and Oil India declined 10.7% on Monday as lower crude prices will erode earnings. Reliance Industries plunged 12% on Monday over concern that lower
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Mutual funds continue to side-pocket exposures to YES Bank bonds
Two more mutual fund houses, Franklin Templeton MF and Baroda MF, have decided to side-pocket their exposures to Yes Bank bonds following the rating downgrade of troubled private lender's debt instruments. This takes the total number of fund houses side-pocketing or segregating their exposures to Yes Bank bonds to five.

Three fund houses -- UTI

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Sell Aurobindo Pharma, price target Rs 440: Manas Jaiswal

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Mumbai: A fall in crude oil prices is perceived to be a positive for the Indian economy as well as stock markets. The relationship between the Sensex and crude has mostly been inversely proportional. Eight out of ten times when crude has fallen by more than 20%, Indian stock markets have offered average returns of 19% in the following six months.

F

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By Yakob PeterseilThe Cboe Volatility Index surged to the highest since 2008 on Monday as a plunge in oil prices frazzled traders already on edge over the coronavirus.

The VIX, which measures the 30-day implied volatility of the S-P 500 based on out-of-the-money options prices, jumped as high as 62, its highest level since December 2008 on an

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Share market update: PSU bank shares mixed; SBI dips 2%
NEW DELHI: Shares of PSU banks were trading on a mixed note in Wednesday's morning session.

Shares of Punjab - Sind Bank (up​ 3.86 per cent)​, Indian Overseas Bank (up​ 2.42 per cent)​, UCO Bank (up​ 1.76 per cent)​, J - K Bank (up​ 1.5 per cent)​, Bank of Maharashtra (up​ 1.49 per cent)​ and Central Bank of India (up​ 1.08 per cent)​ wer

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Indian stocks plunged 5% on Monday, causing the biggest wealth destruction in one day in five years, as markets tumbled across the world. A collapse in oil prices threatened to exacerbate the turmoil in the global economy, already weighed down by uncertainties over the impact of Covid-19 on growth.

The Sensex and Nifty posted their biggest

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Domestic stocks continued to be hammered amid fears about the spread of coronavirus and back home concerns over possible cascading effect of the YES Bank crisis. Domestic equity benchmark Sensex fell 720 points, or 1.88 per cent, for the week to close at 37,576, while Nifty dropped 212 points, or 1.89 per cent, to 10,989.

While the YES Bank fiasco

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Sell IndusInd Bank, price target Rs 860: Manas Jaiswal

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RBI to submit YES Bank revival plan to cabinet for approval soon

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Rana Kapoor: The fall of one of India's most promising bankers
On March 5, YES Bank was put under a moratorium by the RBI, the withdrawals were capped at Rs 50,000 and its board was superseded in a move to arrest its further slide as it desperately looked for investors.

Even as the RBI was coming up with a rescue plan, its co-founder, Rana Kapoor, was being investigated by the Enforcement Directorate for

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The Ides of March against the idea of reforms
By Somnath Mukherjee

The irony around the old French adage – plus ça change, plus c’est la même chose (more things change, more they remain the same) — could not have been more delicious.

On the 4th of March, the Union Cabinet approved the consolidation of 10 public sector banks (PSB) into four, to be effective from April 1. Consolidation (and

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Dow drops 7.8% as free-fall in oil, virus fears slam markets
Stocks took their worst one-day beating on Wall Street since the global financial crisis of 2008 as a collapse in oil prices Monday combined with mounting alarm over what the coronavirus could do to the world economy.

The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average, immediately raised fears that a recession might

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Abu Dhabi, Kuwait stocks plunge after Opec deal collapses

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Buy HDFC Bank, price target Rs 1,160: Kunal Bothra

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MUMBAI: State Bank of India (SBI) will submit its rescue plan for Yes Bank within a week to the Reserve Bank of India (RBI) that will likely entail a maximum investment of Rs 6,000 crore for a 26% stake. The plan may involve a similar amount to be invested by a group of global investors, said people aware of the matter. The RBI is also firming up
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Saudi Aramco trades below IPO price for first time

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