Indian stocks continued to trade in a free-fall mode on Thursday, with all the sectors witnessing huge selling pressure. At 11:27 am, the benchmark BSE Sensex was down 862.35 points, or 3%, to 28,007.16, while the Nifty 50 fell 262.45 points, or 3.1%, to 8,206.35. Ashok Leyland, PVR, Sterlite Tech, Wipro.
Bajaj Finserv was among the key stocks in news on Thursday. Read on to know more:
Ashok Leyland: Ashok Leyland Ltd shares plunged over 15% after the company approved to acquire up to 19% additional equity shares in Hinduja Leyland Finance for up to Rs 1,200 crore.
PVR: PVR Ltd shares gained 1.5% after ICRA kept ratings unchanged at ICRA A1+ to the commercial papers.
Sterlite Tech: Sterlite Technologies Ltd shares jumped nearly 4% after the company’s board will meet on 24 March to consider the proposal for buyback of equity shares
Wipro: Wipro Ltd shares inched down 0.5% after the company launched Microsoft business unit for digital transformation solutions.
Bajaj Finserv: Bajaj Finserv Ltd shares dropped 3.5% after the company appointed Sanjiv Bajaj as chairman.
Karur Vysya Bank: Karur Vysya Bank Ltd shares dropped over 4% after the lender entered into the precious metals business.
Motilal Oswal: Motilal Oswal Financial Services Ltd shares plummeted 10% after the company said its board meeting will be held on 21 March to consider the proposal for buyback of equity shares.
JSW Steel: JSW Steel Ltd shares were down 4% after the steel major said ratings agency CARE has revised its rating for the company’s long-term bank facilities and non-convertible debentures (NCDs) to CARE AA- from CARE AA.
Cox and Kings: Cox and Kings Ltd shares were trading flat after the committee of creditors of the bankrupt travel agency, in a meeting held on 3 March, approved extending the deadline to submit expressions of interest (EoIs) by 30 days.
Navneet Education: Navneet Education Ltd shares rise 2% after the company issued commercial paper of Rs 50 crore to Mahindra Liquid Fund and Mahindra Ultra Short Term Yojana.