Share Market highlights: Sensex ends 215 points down, Infosys, TCS top losers

By: |
Updated:Nov 22, 2019 3:45:30 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Shares of state-run oil firms OIL, IOC tanked on Friday, after reports that they may get BPCL's Numaligarh refinery post privatisation.

stock market live: BSE sensex, NSE nifty newsImage: PTI

Share Market News Today | Sensex, Nifty, Share Prices LIVE: The headline indices– Sensex and Nifty– closed lower on Friday afternoon, tracking weak global cues. The Sensex closed 215 points down to 40,359, while the Nifty was ended above the 11,900-mark. Shares of state-run oil firms OIL, IOC tanked on Friday, after reports that they may get BPCL’s Numaligarh refinery post privatisation. OIL India share price slumped by more than 0.7% to Rs 153.75, while IOC share price lost more than 1% to hit the day’s low at Rs 128.45 on BSE.  Even as the government announced strategic divestment of the entire stake in Bharat Petroleum Corporation Limited (BPCL), Numaligarh Refinery, in which BPCL holds a majority stake, has been kept out of the plan. In fact, the finance minister Nirmala Sitharaman announced that the refinery in Assam will be carved out of BPCL and will continue to remain a PSU. According to media reports, state-run oil firms OIL, and IOC may get the refinery. On Thursday, Dharmendra Pradhan, Union Minister of Petroleum and Natural Gas, also said that Numaligarh Refinery is out of the BPCL divestment plan due to the existing accord. Maenwhile, CSB Bank IPO to raise up to Rs 410 crore opened for subscription today. Kerala-based CSB Bank’s IPO( formerly known as Catholic Syrian Bank) is being carried out to meet RBI’s regluation with regard to listing. The public offer contains a fresh issue of shares to raise up to Rs 24 crore, and an offer for sale (OFS) of 1.97 crore shares by existing investors through which it will sell Rs 385 crore of scrips. CSB IPO will remain open till November 26th, Tuesday. The price band has been fixed at Rs 193-195 per share. Bids can be made for a minimum lot of 75 equity shares and in multiples of 75 equity shares thereafter.

हिंदी में भी पढ़ें: शेयर बाजार की हर खबर का अपडेट

Live Blog

Highlights

    15:45 (IST)22 Nov 2019
    Sensex ends 215 points down, Infosys, TCS top losers

    The headline indices-- Sensex and Nifty-- closed lower on Friday afternoon, tracking weak global cues. The Sensex closed 215 points down to 40,359, while the Nifty was ended above the 11,900-mark. Shares of state-run oil firms OIL, IOC tanked on Friday, after reports that they may get BPCL's Numaligarh refinery post privatisation. OIL India share price slumped by more than 0.7% to Rs 153.75, while IOC share price lost more than 1% to hit the day's low at Rs 128.45 on BSE. A look at LIVE Sensex heatmap.

    14:21 (IST)22 Nov 2019
    Parle, Britannia biscuits may get costlier soon; packets may get smaller too

    Parle and Britannia are mulling raising biscuit prices by as much as 6% raw ingredients costs soar. While Parle and Britannia two of the leading biscuit makers in India are yet to take a final decision on raising prices, the call will be taken basis the costs of key ingredients including oil, wheat flour, and sugar, CNBC TV-18 reported citing unidentified sources. The revised prices may be effective from the last quarter (January-March) of the current financial year. Parle Products, the company known for Parle-G brand is likely to raise the prices by 5-6%. On the other hand, its rival Britannia may hike prices by 3% on select brands and SKUs, the news channel reported.

    Full story

    13:53 (IST)22 Nov 2019
    Fresh concern mounts for Modi govt as new investment falls to 15 year low so far in FY20

    The ongoing growth slowdown is taking a toll on investments, as fresh funding for projects fell to a 15 year low in the first half of FY20, a report said. In FY19, the value of new investments was recorded to be lowest in the past five years with the number of fresh projects pegged at Rs 11.9 lakh crore, CARE Ratings said in a study based on CMIE data. It is the fourth consecutive year of such contraction, it added. Weak investment climate and consumption are the key reasons for the investments to fall over the period, the report noted. In addition, lack of funds and slow non-environment clearances have added to the problem.

    Full story

    12:49 (IST)22 Nov 2019
    Is Rs 1 crore life insurance cover good enough for you?

    When Sunil Thakur – a 28-year-old Bangalore-based IT professional – bought a term insurance cover of Rs 1 crore in 2016, he was single and had no dependents. Now married and father of a 1-year-old girl, Sunil strongly feels that his Rs 1-crore term plan may not be sufficient to sustain his family’s needs and cover his life goals 15-20 years down the line. He believes that it’s just the start of his professional and personal life and both his income and expenses will rise significantly in the next couple of years. And to cover the loss that incurs due to Sunil’s sudden death, perhaps a cover with higher sum assured might be required.

    Full story

    11:50 (IST)22 Nov 2019
    CSB Bank IPO for Rs 410 crore subscribed about 20% so far on Day 1; should you invest?

    CSB Bank IPO which opened for subscription today, got subscribed by about 20% within the first two hours of opening. The issue has received bids for 21.54 lakh shares, as against the the issue size of 1.15 crore, implying a subscription of 20 per cent. Formerly known the Catholic Syrian Bank, the lender looks to raise up to Rs 410 crore from the public offer. Kerala-based CSB Bank’s IPO is being carried out to meet RBI’s regluation with regard to listing. The public offer contains a fresh issue of shares to raise up to Rs 24 crore, and an offer for sale (OFS) of 1.97 crore shares by existing investors through which it will sell Rs 385 crore of scrips.

    Full story

    11:01 (IST)22 Nov 2019
    Lenders brace for possible $5 billion DHFL writeoff

    India’s surprise seizure of a troubled Indian shadow bank won’t end the woes of its lenders, faced with the risk of heavy writeoffs if Dewan Housing Finance Corp. is declared a fraudulent account. That’s because the Reserve Bank of India requires banks to provision fully for their entire exposure over four quarters if they decide a loan account involves fraud. The decision on Dewan will be based on a final report by the international accountancy firm KPMG on the firm’s lending practices, which is due to be submitted soon, according to bankers with knowledge of the matter, who asked not to be identified further.

    Full story

    10:26 (IST)22 Nov 2019
    Global bond market looks to Modi for greater access to India as PM sets sight on doubling economy

    International investors are calling on India to throw open the doors to its sovereign bond market with the promise of more capital to finance its growth aspirations. While the country’s famously protective policy makers have rejected previous proposals, there are hopes they are becoming more receptive to having India’s bonds included in global benchmarks as Prime Minister Narendra Modi sets his sights on doubling the size of the economy. With waning domestic savings adding to the pressure for change, the government has already eased investment rules in sectors including retail, mining and manufacturing. China’s phased entry into several key bond gauges this year provides India with a template that could be shaped to its needs.

    Full story

    10:25 (IST)22 Nov 2019
    Kumar Mangalam Birla loses $3 billion as mobile war weighs on wealth

    The financial distress at Vodafone Group Plc’s Indian venture has dragged down the wealth of Kumar Mangalam Birla, whose group is the second-largest investor in the teetering wireless carrier. The tycoon, who joined forces with the British operator last year, has lost about a third of his fortune since the end of 2017 as mounting losses and debt decimated the equity of the troubled Vodafone Idea Ltd. In addition, shares of his flagship firms that produce chemicals, metals and cement have also tumbled amid a demand slump, eroding his wealth. The net worth of Birla has shrunk to about $6 billion from $9.1 billion two years ago, according to the Bloomberg Billionaires Index. A majority of his fortune is derived from his ownership of Aditya Birla Group, a conglomerate that controls his main holdings.

    Full story

    10:07 (IST)22 Nov 2019
    Modest impact: Outreach boosts credit flow in October, seems to slow since

    The government on Thursday said that public sector banks (PSBs) disbursed loans worth Rs 2.53 lakh crore in October, the month in which they carried out two phases of customer outreach programme under the government prodding in 374 districts of the country. About 60% of these were fresh loans. Though it is not immediately clear if this represented a big jump from trend, the government said that “the PSBs actively reached out to their customers in the camps and made concerted efforts towards activities such as sanctioning of loans as per prudential norms, opening of accounts along with Aadhaar and mobile seeding of accounts, and popularising BHIM app”.

    Full story

    09:53 (IST)22 Nov 2019
    Govt may offer relief on AGR if Airtel, Vodafone Idea, other telcos get reprieve from SC

    The government will wait for the outcome of the limited review petition scheduled to be filed by the telecom operators in the Supreme Court shortly on the issue of payment of licence fee and spectrum usage charge based on the definition of adjusted gross revenue, to decide its next course of action on the matter. Official sources said that if the operators get any relief from the apex court in terms of more time to pay up their dues, then the government is likely to come out with a deferred payment installment scheme, much like the one related to spectrum payment. 

    Full story

    09:43 (IST)22 Nov 2019
    Reliance Industries kissing distance away from Rs 10 lakh crore mcap as shares soar to near record high

    Billionaire Mukesh Ambani-led Reliance Industries is just kissing distance away from the Rs 10 lakh crore in market capitalisation, even as the shares trade near all-time high. Reliance Industries shares gained by more than 1.8% to hit the day’s high at Rs 1,566 on BSE. The shares hit a record high of Rs 1,571.95 on BSE earlier this week. The firm now commands a market capitlisation of Rs 9.90 lakh crore, making it potentially the first Indian firm to top the Rs 10 lakh crore mcap figure soon. At such a value, Reliance Industries remains India’s most valued company in terms of market value.

    Track live stock price: Reliance Industries

    09:32 (IST)22 Nov 2019
    IOC, OIL shares trade flat after reports that they may get Numligarh refinery

    Shares of state-run oil firms OIL, IOC tanked on Thursday morning, after reports that they may get BPCL's Numaligarh refinery post privatisation. OIL India share price slumped by more than 1% to Rs 150.10, while IOC share price lost more than 1% to hit the day's low at Rs 128.45 on BSE. Even as the government announced strategic divestment of the entire stake in Bharat Petroleum Corporation Limited (BPCL), Numaligarh Refinery, in which BPCL holds a majority stake, has been kept out of the plan. In fact, the finance minister Nirmala Sitharaman announced that the refinery in Assam will be carved out of BPCL and will continue to remain a PSU. According to media reports, state-run oil firms OIL, and IOC may get the refinery.

    Track live stock price: OIL India , IOC

    09:17 (IST)22 Nov 2019
    Privatisation move: BPCL, SCI, Concor shares tumble

    Shares of BPCL and Shipping Corp of India (SCI) tumbled on Thursday after the Cabinet approved sale of government’s stake in these companies. While the SCI stock dropped 6.29% to close at Rs 64.05 on the BSE, BPCL scrip plunged 5.66% to close at Rs 513.80. Both BPCL and SCI had hit their respective 52-week highs in the early trade. Meanwhile, the Container Corp stock fell 0.49% to Rs 575.15.

    Full story

    09:16 (IST)22 Nov 2019
    Global markets: Asian shares up from 3-week lows, but trade uncertainty nags

    Asian equities rose on Friday, bouncing from a three-week low touched a day earlier, but gains were capped by persistent worries over the status of trade negotiations between China and the United States. Early in the Asian trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.12%. The index had fallen as much as 1.41% on Thursday, hitting its lowest level since October 30, on concerns that U.S. legislation on Hong Kong threatened to undermine trade talks between the world’s two largest economies.

    Full story

    09:07 (IST)22 Nov 2019
    CSB Bank IPO to raise up to Rs 410 crore kicks off

    CSB Bank IPO to raise up to Rs 410 crore opens for subscription today. Kerala-based CSB Bank’s IPO( formerly known as Catholic Syrian Bank) is being carried out to meet RBI’s regluation with regard to listing. The public offer contains a fresh issue of shares to raise up to Rs 24 crore, and an offer for sale (OFS) of 1.97 crore shares by existing investors through which it will sell Rs 385 crore of scrips. CSB Bank IPO will remain open till November 26th, Tuesday. The price band has been fixed at Rs 193-195 per share. Bids can be made for a minimum lot of 75 equity shares and in multiples of 75 equity shares thereafter. The bank is set to  finalise basis of allotment on December 2 and will credit equity shares to shareholders’ DP accounts on December 3, Axis Capital said in its note. 

    Full story

    09:06 (IST)22 Nov 2019
    This BPCL unit will remain a PSU despite privatisation: Here’s why Numaligarh Refinery won’t be sold

    Even as the government announced strategic divestment of the entire stake in Bharat Petroleum Corporation Limited (BPCL), Numaligarh Refinery, in which BPCL holds a majority stake, has been kept out of the plan. In fact, the finance minister Nirmala Sitharaman announced that the refinery in Assam will be carved out of BPCL and will continue to remain a PSU. It was done due to the historic Assam Accord of 1985 signed between All India Assam Students Union (AISU) and the central government of the time after the 6-year long agitation against the immigrants. On Thursday, Dharmendra Pradhan, Union Minister of Petroleum and Natural Gas, also said that Numaligarh Refinery is out of the BPCL divestment plan due to the existing accord.

    Full story

    09:05 (IST)22 Nov 2019
    Gold steady amid mixed signals on US-China trade talks

    Gold prices were little changed on Friday as a report of China’s efforts to smooth the way for trade talks with the United States offset worries that an interim deal might not occur until next year. Spot gold was flat at $1,464.99 per ounce by 0106 GMT, while U.S. gold futures inched higher 0.05% to $1,464.30. China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing amid continued efforts to strike at least a limited deal, the Wall Street Journal reported on Thursday, citing unnamed sources.

    Full story

    09:04 (IST)22 Nov 2019
    Oil falls from 2-month high as US-China trade doubts dominate

    Oil prices were toppled from their highest in nearly two months on Friday by doubts over future demand for crude as uncertainty continues to shroud a potential U.S.-China trade deal, and along with it the health of the global economy. That was more than enough to offset news of a likely extension of production cuts among major producers that drove prices higher in the previous session on the prospect of tight crude supply.

    Full story

    09:03 (IST)22 Nov 2019
    Govt’s BPCL divestment plan takes off: These are key things to watch going ahead

    The government’s mega divestment plan for the select PSUs including Bharat Petroleum Corporation Limited (BPCL) may increase free float in the market, encouraging the foreign portfolio investors to invest more in the capital markets, a rating agency said. In addition, this move is expected to create a wider investment space for retail and institutional investors and increase the market premium of PSUs, owing to likely positive investors perception, CARE Ratings said. The announcement is also expected to increase transparency and PSU contribution towards the higher economic growth, it added. 

    Full story

    Next Stories
    1Privatisation move: BPCL, SCI, Concor shares tumble
    2Stock corner: Maintain ‘buy’ on Zee Entertainment with target price of Rs 443
    3Stock corner: Initiate with ‘Buy’ with target price of Rs 650 for UPL