Indian stocks witnessed a bit of a relief rally on Friday after undergoing massive correction in the last few days. At 11:42 am, the benchmark BSE Sensex was trading up 624.76 points, or 2.2%, to 28,913, while the Nifty 50 rose 172.30 points, or 2.1%, to 8,435.75. RIL, SpiceJet, Sun Pharma, SBI, ICICI Lombard were among the key stocks in news today. Read on to know more:
RIL: Reliance Industries Ltd (RIL) shares climbed over 6% after chairman Mukesh Ambani and his family - wife Nita Ambani and three children Akash, Isha and Anant - marginally raised personal shareholding in the company to 75 lakh shares each.
SpiceJet, IndiGo: SpiceJet Ltd shares jumped 4% while those of InterGlobe Aviation Ltd (IndiGo) fell 2% after a media report said that the government may consider providing relief measures to aviation companies on taxes.
Sun Pharma: Sun Pharmaceutical Industries Ltd shares jumped over 5% after the company approved buyback of its equity shares from open market at a maximum price of Rs 425 for aggregate maximum amount of up to Rs 1,700 crore.
ICICI Lombard: ICICI Lombard General Insurance Co. Ltd shares dropped 7.7% after the company launched a dedicated insurance cover for coronavirus.
SBI: State Bank of India (SBI) shares inched up 1.5% as the board will meet to consider the extension of approval accorded by central board for raising equity capital from market up to Rs 20,000 crore.
RITES: RITES Ltd shares jumped 4.6% after the state-owned engineering consultancy said its board has decided to close its joint venture (JV) with BNV Gujarat Rail Pvt Ltd.
Lakshmi Vilas Bank: Lakshmi Vilas Bank Ltd shares declined 4.6% after the private lender informed the stock exchanges that Sanjay Kumar Khemani has resigned as an independent director of the bank with effect from 19 March.
Praj industries: Praj industries Ltd shares surged 10% as the board will meet on 27 March to consider buyback of shares.
Biocon: Biocon Ltd shares advanced 3.8% after the company received EIR from the US Food and Drug Administration (FDA) for its small molecule API facility, classifying two observations as VAI.
Hero MotoCorp: Hero MotoCorp Ltd shares slipped 2% after the two-wheeler company said it has commenced commercial production at its new greenfield manufacturing facility located in Chittoor, Andhra Pradesh.
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