Even as the analyst estimate markets to trend further downwards, the Wednesday's trade saw some respite after Monday's carnage that saw the biggest fall on the Sensex of close to 1900 points ever. Sensex is up 0.62%, while Nifty holds levels of close to 10450 points.
6 Stocks In News On March 11, 2020
1. ONGC:
The stock which has been the biggest casualty after the crude oil crashed and has touched 15-year low, there is a view that as the oil space has the heaviest weightage in the indices globally, so there is seen to be further downside in the stock.
2. Reliance Industries:
In Monday's carnage, the stock of the heavyweight saw its biggest fall of 12% in 10 years on the assumption in decline in petro products. The stock ended at 1113.15, touching a low Rs. 1095. In the opening trade, the stock trades higher by 3% at Rs. 1144.
3. State Bank of India:
Even despite the HSBC downgrade of the stock, it has managed to gain almost 1.1% in the opening trade and was at Rs. 56.50. The lender's likely buy in the Yes Bank is though regarded to be negative for its shareholders. Much needs to be seen as and when the bank comes up with the revival plan for Yes Bank.
4. TCS:
TCS board in its meet on Tuesday has declared an interim dividend of Rs. 12 per share and in Wednesday's opening trade with IT index trading down , it is down as much as 1.58% to Rs. 1941 on the BSE.
5. Yes Bank:
After RBI's help on the private lender in the form of reconstruction plan and announcement that moratorium will end as early as this Saturday, the investors seem still hopeful on the stock. In early trade, the stock is up as much as 10% to Rs. 23.35 per share on the BSE.
6. RBL Bank:
In the run up to the Yes Bank crisis, RBL Bank has suffered the most and in Wednesday's trade the scrip again lost as much as 20%. Nonetheless, the bank says that its position remains strong. Also, the bank confirms that it has no exposure in the beleagured Yes Bank. Additionally, RBL Bank confirmed that it is adequately capitalised for 3 years.
Click it and Unblock the Notifications
Sign in with Google