Indian stock markets recovered from day’s low on re-opening on Friday after trading was halted on exchanges as the Nifty hit a lower circuit limit in opening session. At 11:36 am, the benchmark BSE Sensex was trading down 284.58 points, or 0.87%, to 32,493.56, while the Nifty 50 index fell 90.60 points, or 0.94%, to 9,499.55. Yes Bank, SBI, Sun Pharma, Bharti Airtel, Bandhan Bank and Cipla were among the key stocks in news today. Read on to know more:
Yes Bank, SBI: Yes Bank Ltd shares jumped over 10% after State bank of India (SBI) said the executive committee of central board has approved purchase of 725 crore shares in the private lender at Rs 10 per share. SBI shares were up 2%.
Sun Pharma: Sun Pharmaceutical Industries Ltd shares surged 10% after the company said its board will consider share buyback on 17 March.
Bharti Airtel: Bharti Airtel Ltd shares climbed 3.6% on news that the telecom company will make indirect acquisition of 10% equity stake in Spectacom Global through wholly-owned subsidiary.
Bandhan Bank: Bandhan Bank Ltd shares declined over 6% as the lender is set to replace Yes Bank in the Nifty Bank index from 27 March.
Cipla: Cipla Ltd shares gained over 4% after the board approved payment of interim dividend of Rs 3 per share and one-time special dividend of Re 1 per share.
Escorts: Escorts Ltd shares dropped 3% after India Ratings revised company’s outlook to stable from positive.
IIFL Finance: IIFL Finance Ltd shares lost nearly 11% after the company approved appointment of Sumit Bali as an executive director and chief executive officer, and Ralesh Raiak as chief financial officer.
BPCL: Bharat Petroleum Corp. Ltd (BPCL) shares inched up 1% after the company declared an interim dividend of Rs 16.50 per share.
Indian Hotels: Indian Hotels Co. Ltd shares were down 2.5% after bulk deal data on NSE showed that Tata Sons bought 1.66 crore shares of the company at an average price of Rs 107.4 per share.
Tata Power, Tata Steel: Tata Power Co. Ltd shares were down 1%, while those of Tata Steel rose 2.5% after data showed that Tata Sons bought 1.39 crore shares of Tata Power Company at Rs 38.72 per share and bought 77.4 lakh shares of Tata Steel at Rs 287.44 per share.