Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

L&T-Mindtree Saga, Oil Prices, and Top Stocks in Action Today
Thu, 28 Mar Pre-Open | Monish Vora, TM Team

On Wednesday, share markets in India witnessed most of the selling pressure during closing hours and ended marginally lower after a volatile day of trading.

The BSE Sensex closed lower by 101 points to end the day at 38,133. NTPC and Tata Motors were among the top losers.

While the broader NSE Nifty ended down by 38 points to end at 11,445.

Among BSE sectoral indices, energy stocks fell the most by 1%, followed by healthcare stocks and telecom stocks.

Top Stocks in Action Today

Lupin share price will be in focus today as the company has received approval for its Tadalafil Tablets USP, 2.5 mg, 5 mg, 10 mg, and 20 mg, from the United States Food and Drug Administration (FDA) to market a generic version of Eli Lilly and Company's Cialis Tablets.

GMR Infra share price will be in focus today as the company announced a proposed investment by Tata Group, an affiliate of GIC, Singapore's sovereign wealth fund and SSG Capital Management in its Airports Business.

A binding term sheet has been signed by GMR Infra on Wednesday, pursuant to which the investors have agreed to invest Rs 80 billion in GMR Airports.

Market participants will also track Vedanta share price.

Reportedly, the company has notified the management committee, Directorate General of Hydrocarbons and Ministry of Petroleum and Natural Gas of an oil discovery in the second exploratory well H2, located in the block KG-OSN-2009/3, Krishna-Godavari Basin, East Coast of India.

--- Advertisement ---
Rewrite Your Financial Destiny...
With This LIFE-TRANSFORMING Step Today!


If you're tired of settling for small gains...

And worried you might not save enough for retirement quickly enough...

Here's something I believe could completely rewrite your financial destiny. And give you a chance to end up far richer than you ever imagined.

I'm talking about our small cap service - Hidden Treasure - which has given its subscribers opportunities to make double, triple and even four-digit gains in the long run.

But here's the best part...

Right now, you can join Hidden Treasure at 50% off and get our special report with 4 small caps stocks with great return potential. So don't hesitate.

Rewrite your financial destiny with this life-transforming step today!

Click here for full details now!
------------------------------

From the Commodity Space...

Oil prices declined on Wednesday, reversing earlier gains, as further disruptions to Venezuela's crude exports were offset by a report that US inventories rose last week.

Venezuela's main oil export port of Jose and its four crude upgraders were unable to resume operations following a massive power blackout on Monday, the second in a month.

Crude exports from the key OPEC member have dropped sharply since Washington in January banned US refiners from buying Venezuelan oil.

Oil prices have risen more than 25% this year, supported by supply curbs by the Organization of the Petroleum Exporting Countries and other major producers, along with US sanctions on exports from Venezuela and Iran.

Corporate Battle

Mindtree share price on Wednesday, decided to drop its buyback plan. As per an article, after its previous board meeting on March 20, the Mindtree board informed it would constitute a committee of independent directors to evaluate the open offer proposal of L&T.

Here's an excerpt from the article:

  • The board has decided not to proceed with a buyback of equity shares of the company. Further, it decided to immediately constitute the Committee of Independent Directors in the interests of all stakeholders to provide their reasoned recommendation in respect of the unsolicited offer by L&T.

As per market regulator norms, a share buyback is possible only when an open offer is in place after receiving approval from 75% of the shareholders.

Meanwhile, after acquiring 20.3% from Mindtree's key shareholder V G Siddhartha, L&T on Tuesday said its open offer for Mindtree would open on May 14 at Rs 980 a share.

Reportedly, L&T will spend an additional Rs 50.3 billion in the open offer to acquire another 31% from Mindtree's shareholders to take majority control in the company.

How this offer pans out remains to be seen. Stay tuned.

Operation Mission Shakti

On Wednesday, Prime Minister Narendra Modi announced that India had demonstrated anti-satellite missile capability by shooting down a live satellite. Addressing the nation, the prime minister said India's action was not directed against any country.

As per an article in a leading financial daily, Mission Shakti, which was led by the Defence Research and Development Organization, was aimed at strengthening India's overall security.

Here's an excerpt from the article:

  • Shooting down a low earth orbit satellite is a rare achievement for the country. The satellite was orbiting at an altitude of 300 km.

    Mission Shakti operation was a difficult target to achieve and was completed successfully within three minutes of launch. This was a test operation carried out by India and was not targeted against anyone.

    India joins USA, Russia and China with the capability to hit Low Earth Orbit satellite with an A-SAT missile.

As per Tanushree Banerjee, Co-head of research at Equitymaster, India is set to ride the defence wave that countries like US and China have seen in past few decades.

She has just published a premium report with details of 3 Bullet Proof Stocks that are all set to ride India's defence boom.

If you've subscribed to her premium stock recommendation service StockSelect, click here for the report.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "L&T-Mindtree Saga, Oil Prices, and Top Stocks in Action Today". Click here!

  

Stock Market Updates

VAIBHAV GLOBAL Share Price Down by 5%; BSE 500 Index Down 1.0% (Today's Market)

Aug 14, 2020 03:34 PM

VAIBHAV GLOBAL share price is trading down by 5% and its current market price is Rs 1,843. The BSE 500 is down by 1.0%. The top gainers in the BSE 500 Index are LUPIN (up 9.2%) and HEIDELBERG CEMENT (up 8.4%). The top losers are VAIBHAV GLOBAL (down 5.1%) and EICHER MOTOR (down 7.2%).

TATA MOTORS Share Price Down by 5%; BSE AUTO Index Down 2.5% (Today's Market)

Aug 14, 2020 03:26 PM

TATA MOTORS share price is trading down by 5% and its current market price is Rs 133. The BSE AUTO is down by 2.5%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.6%) and ASHOK LEYLAND (up 1.0%). The top losers are TATA MOTORS (down 5.2%) and EICHER MOTOR (down 7.2%).

VARROC ENGINEERING Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Aug 14, 2020 03:26 PM

VARROC ENGINEERING share price is trading down by 5% and its current market price is Rs 231. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are NBCC (INDIA) LTD (up 3.1%) and SIEMENS (up 2.8%). The top losers is VARROC ENGINEERING (down 5.4%)..

BOSCH Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Aug 14, 2020 03:18 PM

BOSCH share price is trading down by 5% and its current market price is Rs 14,400. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 9.6%) and LUPIN (up 9.2%). The top losers are BOSCH (down 5.2%) and EICHER MOTOR (down 6.9%).

BAJAJ ELECTRICALS at 52 Week High; BSE 500 Index Down 1.0 % (Today's Market)

Aug 14, 2020 03:06 PM

BAJAJ ELECTRICALS share price has hit a 52-week high. It is presently trading at Rs 470. BSE 500 Index is down by 1.0% at 14,874. Within the BSE 500, BAJAJ ELECTRICALS (up 7.0%) and REDINGTON (up 15.4%) are among the top gainers, while top losers are EICHER MOTOR and DISH TV.

Sensex Corrects Over 550 Points; Banking Stocks Under Pressure (Today's Market)

Aug 14, 2020 02:30 pm

Indian share markets slip into the red on signs of escalating US-China tensions.

View More Indian Share Market News

Most Popular

Large Opportunities Are Coming Our Way

Aug 5, 2020

Kenneth Andrade tells us why stocks will bounce back strongly and what he's bullish on.

Is It Time to Book Profits in Gold and Silver?(Fast Profits Daily)

Aug 10, 2020

Gold and silver have delivered phenomenal returns this year. Is it time to take some money of the table?

Forget the Nifty and Sensex for the Next 1 or 2 Years and Focus on These Stocks(Profit Hunter)

Aug 6, 2020

Stocks from the essential small cap space are likely to be outperformers over the next 1 or 2 years.

3 Stocks to Ride the Big Rebound in Smallcaps(Profit Hunter)

Aug 11, 2020

The rebound ratio suggests that smallcaps are set for big gains but this time it will be limited to a few stocks. Make sure you choose wisely.

Governance: for the country and your portfolio.(The Honest Truth)

Aug 14, 2020

Ajit Dayal on the need of socially responsible governance.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 14, 2020 (Close)

MARKET STATS