Domestic markets slipped into red at mid-day of trading with benchmark indices falling nearly 1% each. Sensex fell 300 points while Nifty fell 90 points led by Nifty Bank that fell 700 points.&nbsp;

Domestic markets slipped into red at mid-day of trading with benchmark indices falling nearly 1% each. Sensex fell 300 points while Nifty fell 90 points led by Nifty Bank that fell 700 points.

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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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.

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.

Reliance Industries (RIL) on Monday announced their decision to merge&nbsp;TV18 Broadcast, Hathway Cable and Den Networks&nbsp;into Network18 Media &amp; Investments. Accordingly, the scheme's share exchange ratio proposes that for every 100 shares of TV18, shareholders will receive 92 shares of Network 18, while, those of Hathway shareholders will get 78 shares and Den shareholders will get 191 shares.&nbsp;Post the consolidation Network18 will be an integrated media and distribution company with a revenue of ₹8,000 crores and will scale-up as one of the largest listed players in the sector.

Casual dining chain Barbeque Nation has filed papers with the markets regulator SEBI to raise an estimated&nbsp;₹1,000-1,200 crores through an&nbsp;IPO. The company may consider a pre-IPO placement of ₹150 crores. Proceeds of the issue will be utilised to repay an outstanding borrowing of&nbsp;₹205 crores in part or full and for general corporate purposes.

As the Supreme Court refused to provide any relief to the telecom&nbsp;companies towards the AGR dues on Monday, the street is worried if the Vodafone&nbsp;Idea will survive. Brokerages said&nbsp;Bharti&nbsp;Airtel&nbsp;looked set to clear dues but the question remained if Vodafone&nbsp;could pay. Vodafone&nbsp;promoters have raised concerns about their operations in India if they have to pay dues.&nbsp;As per the DoT's&nbsp;calculation,&nbsp;Vodafone&nbsp;owes over ₹56,000 crores&nbsp;out of which the telco&nbsp;has paid a mere ₹2,500 crores&nbsp;on Monday and said it would pay ₹1,000 crores&nbsp;in the next few days.
As of March 2019, the company only has ₹784 crores&nbsp;in cash.&nbsp;According to reports, Voda's&nbsp;promoters&nbsp;Aditya Birla Group and Vodafone Plc are unwilling to furnish further capital into the company for the dues.&nbsp;Vodafone Idea&nbsp;has asked for its AGR dues to be adjusted against ₹7,000 crores owed to it by the tax department.
Telcos filed a modification plea on February 14, 2020 seeking new schedule of AGR&nbsp;dues by the SC. Vodafone&nbsp;posted losses to the tune of ₹6,453 crores in the December quarter.
Brokerages believe that India will have a duopoly telecom market and hence raised the target price for&nbsp;Bharti&nbsp;Airtel. They also believe that Vodafone&nbsp;Idea may have to file for bankruptcy, if no relief is provided.

Markets extend losses, Nifty Bank down 2%

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