Indian stocks erased early morning gains to slip in the negative again on Wednesday as investors remained jittery. At 10:43 am, the benchmark BSE Sensex was trading down 217.08 points, or 0.71%, to 30,362.01, while the Nifty 50 index slipped 35 points, or 0.4%, to 8,932. Yes Bank, Avenue Supermarts, Metropolis Healthcare, Wipro and M&M were among the key stocks in focus today. Read on to know more:
Yes Bank: Yes Bank Ltd shares as much as 50% at the day’s high as the moratorium imposed on the lender by the central government is set to be lifted from Wednesday.
Avenue Supermarts: Shares of Avenue Supermarts Ltd, operator of DMart chain of stores, declined 5% after 1,000 secured rated unlisted redeemable non-convertible debentures (NCDs) of Rs 100 crore were redeemed.
Metropolis Healthcare: Metropolis Healthcare Ltd shares dropped 2% as a media report suggested that Metropolis Labs has been short-listed by the ministry of health and family welfare to aid in private testing for the novel coronavirus (Covid-19).
Wipro: Wipro Ltd shares gained 3% after the company implemented core banking solution for Canara Bank-sponsored Regional Rural Bank (RRB).
M&M: Mahindra and Mahindra Ltd (M&M) shares dropped 3.3% after the company acquired around 5% of the share capital of Eurl LD Azouaou, Algeria.
Escorts: Escorts Ltd shares dropped 3.3% after a meeting was scheduled on 20 March to consider a proposal for issue and allotment of equity shares by way of a preferential allotment.
Welspun Enterprises: Welspun Enterprises Ltd shares fell 2.7% after Brickwork Ratings India assigned BWR AA- (stable) rating to the company’s Fund Based Working Capital.
Reliance Naval: Reliance Naval and Engineering Ltd shares gained 3% after the company got termination notice from Gujarat Pipavav Port for termination of sub-concession agreement.
Fortis Healthcare: Fortis Healthcare Ltd shares were down 1% after Crisil assigned “CRISIL A (placed on rating watch with developing implications)” to the company's long-term loan and “CRISIL A1 (continuous on rating watch with developing implications)” to the company's short-term loan.