Bajaj Auto&nbsp;on Thursday reported a 15% year-on-year&nbsp;jump in its net profit to ₹1,262 crore in Q3FY20. Revenue&nbsp;from operations rose 3% y-o-y to ₹7,640 crore.&nbsp;EBITDA&nbsp;or&nbsp;operating profit&nbsp;improved 13% y-o-y to ₹1,406 crore in the December quarter.&nbsp;EBITDA margin improved sequentially by 150 bps to 18.4%.
The company claimed it registered highest ever export volumes to the tune of 5.62 lakh units, up 7% y-o-y. While the&nbsp;total domestic volume fell 13% y-o-y to 6.40 lakh units against 7.35 lakh units.

Bajaj Auto on Thursday reported a 15% year-on-year jump in its net profit to ₹1,262 crore in Q3FY20. Revenue from operations rose 3% y-o-y to ₹7,640 crore. EBITDA or operating profit improved 13% y-o-y to ₹1,406 crore in the December quarter. EBITDA margin improved sequentially by 150 bps to 18.4%. The company claimed it registered highest ever export volumes to the tune of 5.62 lakh units, up 7% y-o-y. While the total domestic volume fell 13% y-o-y to 6.40 lakh units against 7.35 lakh units.

The current global health scare represents a buying opportunity as&nbsp;India's financial market faces low downside risk from coronavirus' impact on supply chains,&nbsp;Luis Oganes, JP Morgan's head of currencies and emerging market said. Emerging market central banks may cut interest rates further and the dollar will remain strong, he said. "If China's growth declines by half a point or one full point, how much that affects other parts of the world, India is not topping the charts in terms of that beta," he added.

The country's largest gold-financier&nbsp;Muthoot Finance on Friday said it has raised $550 million from International Bond Markets for a 3.5 year tenor at 4.4%.&nbsp;The company had placed $450 million for a 3 year tenor at 6.12% in October 2019. The proceeds of the issue will be used for onward lending.&nbsp;Following a strong order book momentum supported by high quality real money investors, the company was able to tighten pricing by 35 basis points to 4.4%. This comes when NBFC&nbsp;sector is going through severe liquidity crisis as investors turned cautious about funding them.

Telecom major Vodafone Idea's survival is in serious doubt as the company's ratings have been downgraded by three rating agencies in the span of just two days. India Ratings, Brickwork Ratings and&nbsp;Crisil&nbsp;have downgraded Vodafone Idea's rating on ₹3,500 crore&nbsp;worth of non-convertible debentures. However, Vodafone shares rose as much as&nbsp;59% in last two trading sessions after govt officials said that the company's bank guarantees won't be encashed.

The government is exploring the option to appoint third-party audit firms to recalculate dues payable by telecom&nbsp;firms&nbsp;after differences emerged in individual calculations made by the government and telcos, the Mint reported.
To ensure Vodafone&nbsp;Idea is not forced to close, the government is also&nbsp;considering to defer non-AGR&nbsp;dues, the Economic Times reported. Out of the total ₹1.47 lakh&nbsp;crore&nbsp;dues, telecom companies' unpaid licence fees amount to ₹22,589 crore, while interest and penalties took the total liability to ₹92,641 crore. Besides licence fees, telecom companies owe ₹55,054 crore in spectrum usage charges, as per estimates of the Department of Telecommunications (DoT).&nbsp;
Out of the total unpaid basic licence fee, telecom companies that are operational collectively owe around ₹16,746 crore, according to the estimates prepared by the DoT in July 2019.&nbsp;The unpaid licence fees of Bharti Airtel was assessed at ₹5,528.52 crore&nbsp;and&nbsp;Vodafone Idea ₹6,870.69 crore.
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Retail stock broker,&nbsp;Zerodha, has applied for an asset management company license.&nbsp;Founder and CEO&nbsp;Nithin Kamath&nbsp;said, the move was an effort to grow the capital market participation from the current 1.5 crores and address those who currently don't invest, mostly millenials. He added that&nbsp;mutual fund as a product needs to be reimagined.&nbsp;&nbsp;Based in Bengaluru, Zerodha is India's largest retail stock broker by active clients to offer the lowest and cheapest brokerage rates for futures and options, commodity trading, equity and mutual funds.&nbsp;Started in August 2010, it currently has 1.5 million active clients.
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Equity markets closed in the red on Thursday following dull Asian markets and foreign fund outflows. The Sensex&nbsp;fell 152.88 points or 0.37% to end the session at 41,170.12. The Nifty closed trading at 12,080.85, down 45.05 points.
IT, FMCG&nbsp;and Pharma&nbsp;stocks dragged the benchmark indices&nbsp;down, while metal, bank and auto stocks were in green.&nbsp;
Cipla, Asian paints, Hindustan Unilever, TCS and Tech Mahindra&nbsp;were the top Nifty losers. IndusInd&nbsp;Bank, Zee&nbsp;Ltd, Tata&nbsp;Steel, SBI&nbsp;and Power Grid were the top gainers.
The India rupee was down 8 paise&nbsp;at 71.65 against the US dollar.
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Hinduja Group has entered the race to invest in Yes Bank as part of a consortium&nbsp;with Cerberus and JC Flowers to buy a minority stake of up to 10% in the bank, CNBC&nbsp;tv18 reported on Thursday.
However, Hinduja-owned IndusInd Bank is not involved in the transaction, say reports.&nbsp;
Investors have reportedly reached out to the&nbsp;RBI,&nbsp;to seek dispensation on the pricing of the deal as the company thinks valuation should to be much lower than the current market price.&nbsp;
Since the Hinduja group owns IndusInd Bank, the RBI rules restrict it to own upto 10% stake in another bank.

Vodafone Idea on Thursday paid ₹1,000 crore&nbsp;to the&nbsp;Telecom Department towards statutory dues. The telco&nbsp;had paid ₹2,500 crore&nbsp;to the DoT&nbsp;earlier this week and had promised to make a further ₹1,000 crore&nbsp;payment by Friday.&nbsp;Vodafone&nbsp;Idea owes a total of ₹53,000 crore&nbsp;to the DoT&nbsp;in AGR&nbsp;dues.

The initial public offering of SBI Cards and Payment will open on March 2, according to its prospectus. The credit card arm of State Bank of India plans to issue new shares worth ₹500 crore and will offer up to 130.5 million shares for sale, the prospectus, dated February 18, mentioned. The bidding process will close on March 5.&nbsp;In grey markets,&nbsp;SBI&nbsp;cards' stock is already trading at 40% premium to its expected price of around ₹700.

Axis Bank is in talks to acquire more than 20% stake in Max Life Insurance through fresh issue of equity, the Economic Times reported on Thursday, citing multiple sources. The deal is aimed at building a strategic and long-term partnership with Axis Bank which is also Max Life&rsquo;s largest source of revenue at 54%, according to the report. Axis Bank, which owns a shade over 2% in Max Life, will infuse more than&nbsp;₹2,000 crore in the latter.&nbsp;

Slowing growth and weak consumer sentiment will continue to weigh on auto sales and the marginal improvement seen in the December quarter driven by festive discounts is unlikely to sustain, Fitch said in a report, without stating when the volumes will begin to pick up or how long the slump will persist. Automakers could also face production disruptions if the novel coronavirus outbreak in China leads to a prolonged halt in supply of required auto components.
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Stock markets ended Wednesday with strong gains following a sharp surge in pharma, metal, FMCG&nbsp;and bank stocks.
The Sensex&nbsp;closed 428.62 points or 1.05% higher at 41,323 and the Nifty surged 1.15% to end the session at 12,130.30.
Infratel, Grasim, Coal India, Zee and Hindustan Unilever were the top five Nifty movers. While, Tata&nbsp;Motors, JSW&nbsp;Steel, Sun Pharma, TCS and Bharti&nbsp;Airtel&nbsp;were in red.
Nifty Pharma&nbsp;rose 2.32%, Metal 1.94% followed by Nifty FMCG&nbsp;and Nifty Bank.
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As the real estate sector reels under a slowdown, a report by Anarock Realty Consultants brings some good news. The report says that major real estate companies listed on stock exchanges have recorded a steady growth in their revenue during the October-December quarter of the current fiscal&nbsp;year. Housing sales revenue of the top nine listed developers in the quarter stood at nearly ₹5,800 crore, up 4% sequentially and 2% over previous&nbsp;year.
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Stock markets started Wednesday session with strong gains led by banks, metals and pharma. Index heavyweight Reliance industries also pushed the Nifty 50 index higher in early trade.
At 9:30 AM, the Sensex was 405.39 points up at 41,299.77 and Nifty was trading almost a percent high at&nbsp;12,111.20.
Among the top gainers, Infratel&nbsp;was up 6.24%, followed by Coal India, NTPC, Reliance and Nestle India. Whereas, Tata&nbsp;Motors, Yes Bank, IndusInd&nbsp;Bank, Britannia and GAIL were the top for Nifty losers in the morning session.
Currency markets are closed today for Chattrapati Shivaji Jayanti.
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+405.39 +0.99%
12,111.20 118.70&nbsp;0.99%&nbsp;
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Vodafone&nbsp;Idea shares on Wednesday&nbsp;jumped over 48% to 4.45 on NSE&nbsp;as the going concerns over the company eased slightly on a report that the government is backing a three-private player market and is unlikely to invoke the company's bank guarantees for now. Telco's&nbsp;senior counsel Mukul Rohatgi on Monday warned&nbsp;if the bank guarantees deposited with the government are encashed, Vodafone Idea will have to shut shop.&nbsp;On Tuesday, its Chairman Kumar&nbsp;Mangalam&nbsp;Birla&nbsp;met government officials to look for options to keep the company afloat.&nbsp;

Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from March 27,&nbsp;the National Stock Exchange (NSE), said later on Tuesday. Following the news, stocks of Shree&nbsp;Cements rose 3.43%, while Yes Bank fell over 4% on Wednesday.
Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&amp;T Finance Holdings and Shree Cement will be dropped from Nifty Next 50.&nbsp;Adani Transmission, IDBI Bank, Info Edge India, Larsen &amp; Toubro Infotech and Torrent Pharmaceuticals would be added in Nifty Next 50 index.

The government is unlikely to invoke Vodafone Idea&rsquo;s bank guarantees for now, even as the officials of the telecom and finance ministries met Cabinet secretary Rajiv Gauba to discuss ways to ensure that the sector retains three private players, officials told the Economic Times.&nbsp;Government could consider postponing or staggering other payments due to it, in order to give some flexibility to telcos to cough up money towards AGR&nbsp;dues, the report mentioned. After plunging for over 11% on Tuesday, scrips&nbsp;of Vodafone&nbsp;Idea were trading 8.33% higher at 3.25 on NSE&nbsp;on Wednesday.

Stock markets on Tuesday ended in red dragged by metals and autos as panic rises in global markets over increasing cases of&nbsp;coronavirus.
The Sensex on Tuesday closed 161.31 points down at 40,894.38. Similarly, Nifty 50 ended the session below 12,000, falling&nbsp;0.44%.
Infratel was the biggest Nifty loser, crashing over 11%. Yes Bank, Tata&nbsp;Motors, IndusInd&nbsp;bank and Hindalco&nbsp;were the other top losers. While, Coal India, Zee, BPCL, GAIL and Adani&nbsp;Ports were the top five gainers.
The Indian rupee was down 26&nbsp;paise&nbsp;at 71.56 against the US dollar in intraday&nbsp;session.
 
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Domestic equities fall in early trade on Tuesday after Moody's slashed India's growth estimates. Weak Asian cues also impacted trade sentiments.
At 9:30 AM, the Sensex&nbsp;was down 247.91 points or 0.60% at&nbsp;40,807.78. The NSE&nbsp;Nifty index was trading at 11,965.40, falling 80.40 points or 0.67%.
Yes Bank, IndusInd&nbsp;Bank, Infratel, Hindalco and Tata&nbsp;Steel were the top five Nifty losers.&nbsp;
The Indian rupee opens at 71.38 against its Monday close of 71.30 per&nbsp;US dollar.

Amid talks of Centre&nbsp;encashing its bank guarantee over default in payment of AGR dues, Vodafone Idea Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash on Tuesday as he looked for options to keep the company afloat. After the meeting, Birla said he "cannot say anything at the moment." The meeting took place after the&nbsp;Supreme Court on Monday refused to stop DoT from taking any coercive steps for recovery of dues from Vodafone Idea.&nbsp;Vodafone Idea may have to shut if there is no relief on the statutory dues.

Bajaj Auto reports 15% y-o-y jump in net profit

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