Nifty, Sensex Crash Over 3%; Banks, Financials Bleed

On Friday Indian shares fell sharply ahead of December-quarter gross domestic product data, as a spike in global bond yields sparked a sell-off in world equities. Dewan Housing Finance Corp. Ltd seems to be locked in an upper circuit at ₹19.80, even as the markets are seeing a bloodbath.

The non-bank lender has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Ltd (PCHFL) with the National Company Law Tribunal. Natco Pharma gained ).35% on Friday, as it launched epilepsy treatment drug ‘Brivaracetam.

The company has launched Brivaracetam tablets under brand BRECITA in India, Natco Pharma said in a regulatory filing. Brivaracetam, indicated towards treatment of epilepsy, is developed by UCB Pharma and currently marketed in India by Dr Reddy’s under brand name Briviact.

Just Dial was trading at ₹738.65 a piece, down -3.76%, a day after announcing the launch of its B2B app Jdmart. Meanwhile, HDFC Mutual Fund has offloaded 2.73% stake in local search engine for over ₹108 crore through an open market transaction. According to a regulatory filing, the schemes of HDFC Mutual Fund, which held 8.33% stake in Just Dial earlier, sold 1,690,653 shares in open market transaction. The shares were offloaded on February 24, 2021.

Jet Airways was trading -2.18% lower at 1:22 pm. Meanwhile, UAE-based Indian businessman Murari Lal Jalan, who is part of a two-member consortium chosen to revive Jet Airways (India) Ltd by its creditors, is in an advanced stage of talks with the Uzbekistan government to start a full-service airline and also build a new airport in the central Asian country, lawyers representing the lenders and their chosen resolution professional informed the Mumbai bench of the National Company Law Tribunal (NCLT) on Thursday.

Nifty, Sensex Crash Over 3%; Banks, Financials Bleed via @MasterMindUpdate
  • Save
Share via
Copy link