Mid and small-caps came off better than their larger peers. The BSE midcap and smallcap indices ended 1.75 percent and 0.74 percent lower, while benchmarks Sensex and Nifty tanked 4 percent each.
It was carnage on Dalal Street with Indian equities shares witnessing a sharp selloff, which dragged the benchmark Sensex lower by 1,939 points and pushed the Nifty below 14,550. Banking and financial stocks led the fall as the Nifty bank, private bank, PSU bank and financial services indices fell up to 5 percent.
PSU banks | PSU banks fell up to 5 percent on February 26, with the index shedding 4 percent at the close. The top losers included Bank of Baroda, which slipped 5 percent followed by SBI, down 4 percent. The other losers included Indian Bank, PNB, Union Bank of India and Canara Bank.
Eveready Industries | CMP: Rs 311.70 | The stock jumped 20 percent after media reports said that the Burman family may become joint promoters of the company along with the Khaitan family. “The Burman family, the single-largest investor in Eveready Industries with a 20 percent stake, may become joint promoters of the battery maker along with the Khaitan family,” Mint reported.
Dewan Housing Finance | CMP: Rs 19.80 | The stock was up 5 percent after the company said it had filed an application with the National Company Law Tribunal (NCLT) for the submission of the resolution plan of Piramal Capital & Housing Finance.
Nava Bharat Ventures | CMP: Rs 72.65 | The share price added 3 percent after the board of directors on February 26 approved the buyback of fully paid-up equity shares of a face value of Rs 2 each for an amount not exceeding Rs 150 crore, which is 5.05 percent and 3.94 percent of the total paid-up equity share capital and free reserves of the company, Nava Bharat said in an exchange filing.
Dilip Buildcon | CMP: Rs 679.80 | The scrip added 2 percent after the company was declared as L-1 bidder for two National Highways Authority of India hybrid-annuity model (HAM) projects under the Bharatmala Pariyojana, Phase I in Tamil Nadu and Union Territory of Puducherry of orders worth Rs 2,241 crore, the company said in an exchange filing. It also emerged as the lowest bidder for a HAM project worth Rs 1,060 crore under Bharatmala in Andhra Pradesh.
Natco Pharma | CMP: Rs 812.60 | The stock ended in the green after the pharma company announced the launch of Brivaracetam tablets under brand BRECITA in India for the treatment of epilepsy.
Jet Airways | CMP: Rs 135.50 | The scrip added 2 percent on February 26. The National Company Law Tribunal has given the aviation regulator Directorate General of Civil Aviation until March 2 to make known its stance on the airline slots of the grounded Jet Airways. “The success of the plan to a large extent depends on the fact that the slots are given back to the airline. If the landing rights are not returned back to the airline, there is no point in inducting several aircraft,” the counsel said.
KSB | CMP: Rs 722.80 | The stock gained 2 percent after the company reported profit at Rs 32 crore in Q4CY20 against Rs 32.6 crore in Q4CY19, revenue rose to Rs 369.9 crore from Rs 337 crore YoY. The company recommended Rs 8.5 per share of Rs 10 each as the dividend for the year ended December 2020.
Just Dial | CMP: Rs 716.35 | The share price was down over 6 percent after HDFC Mutual Fund offloaded a 2.73 percent stake in the local search engine for over Rs 108 crore through an open market transaction.
Indiabulls Housing Finance | CMP: Rs 218.70 | The stock was down 3 percent on February 26. The company issued foreign currency convertible bonds worth Rs 1,091 crore. The secured convertible bonds are due 2026. The initial conversion price is Rs 242 per fully paid-up equity share of the company.
Sandip Das
