A global equity rout deepened in Asia on Thursday after a renewed sell-off in U.S. equities, with investors concerned by a lack of clarity from the Trump administration on a coronavirus stimulus package. Shares in Japan sank and Australian equities extended recent losses, getting little respite from that nation’s stimulus package. Early gains for American equity futures fizzled as investors awaited a press conference from President Donald Trump.
The latest bout of virus-fomented turmoil tipped Dow Jones Industrial Average into a bear market, ending the longest bull run in the history of American equities. The S&P 500 dipped into bear territory before closing 19 % below its high.
March 12: India to report CPI inflation data for February and industrial production for January. March 12-15: India to report trade deficit data for February.
🎯 News & Impact 🎯
🎯 SBI :
The bank has waived its minimum average monthly balance for all savings bank account and has also waived off SMS charges which were levied on a quarterly basis.
🎯 Biocon, Sanofi India :
Biocon has won a U.S. court ruling that invalidated a Sanofi patent for insulin glargine device patent in U.S., company said in its press release that a key legal hurdle to commercialize Semglee (insulin glargine) co-developed by Mylan, has been removed. New drug application for Semglee is under active review by U.S. FDA. with the target action date for the application in June.
🎯 KPIT Technologies :
Company has entered into an agreement with Vayavya Labs to acquire a 100 percent stake in the target company for Rs 41.8 crore.
🎯 SMS Pharmaceuticals :
Company received zero observations with the receipt of the establishment inspection report by U.S. FDA. for inspection at the company’s API facility in Andhra Pradesh. This facility predominantly caters regulated markets including the U.S.
🎯 Hikal :
Company clarified that the company’s Mahad unit has been operating normally and there is no closure yet.
🎯 Varun Beverages :
PepsiCo to acquire energy drink maker Rockstar Energy in a $3.85 billion deal.
🎯 KPIT Technologies :
Company to buy 78.5% stake in Vayavya Labs for Rs 24.56 crore.
🎯 United Bank of India :
🎯 United Bank of India :
Trading of shares of the Bank to be suspended with effect from March 23, on account of amalgamation of the Bank with Punjab National Bank.
🎯 Syndicate Bank :
Trading of shares of the Bank to be suspended with effect from March 20, on account of amalgamation of the Bank with Canara Bank.
🎯 IndusInd Bank :
Non-disposal undertaking of pledge shares has now been revoked. Promoters of the bank had pledged 3.43 percent stake in favour of Citibank.
🎯 Welspun Enterprises :
Promoter Welspun Group Master Trust acquired 17.1 lakh shares (1.15 %) at Rs 73.55 each.
Positive for the stock. 👍
🎯 LT Foods :
Company promoter Raghuvesh Holdings created pledge of 38.91 lakh shares on March 9.
Negative for the stock.
🎯 Adani Ports & SEZ :
Company promoter SB Adani Family Trust created pledge of 28.3 lakh shares on March 9.
Negative for the stock.
🎯 Adani Transmission :
Company promoter SB Adani Family Trust created a pledge of 16.5 lakh shares on March 9.
Negative for the stock.
🎯 Godrej Industries :
🎯 Godrej Industries :
Company promoter Anamudi Real Estates acquired 76,500 shares from March 6-9.
Positive for the stock. 👍
🎯 Future Enterprises :
Company promoter Central Departmental Stores acquired 20.6 lakh shares from March 6-9.
Positive for the stock. 👍
🎯 Aarti Industries :
Company promoters sold 1.25 lakh shares on March 9.
Negative for the stock.
🎯 PVR :
Company promoter and director Ajay Bijli acquired 11,898 shares on March 9.
Positive for the stock. 👍
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Edited by Sharp.
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