Closing Bell: Sensex plunges for 2nd straight session, ends 671 pts lower; Nifty below 17,450; TaMo rises 4%, HDFC Bank falls 3%.

Bear rampage saw the stock nosedive 60% in trade on Thursday and wiped out over $80 billion of its market value.Not only the shares, but even the bond prices of the group collapsed and created a panic in the market.

The board has declared an equity dividend of Rs 30 per share in the past 12 months, resulting in a yield of 1.05%. Shares of the company are traded 0.48% lower at Rs 2,848 apiece on NSE

The consensus report projected top-15 stocks to be contributing 68% to the potential target price upsides of the Top-100 set while the remaining 32% to be contributed by next 85 stocks.

Bharti Airtel is expected to benefit from an improving tariff outlook and a probable duopoly in the telecom sector. The company has seen significant market share improvement among its 4G user base and the share gains are likely to accelerate in 5G rollout. Jefferies has upgraded Bharti Airtel to "buy" with an upside potential of 16% from the current levels on expectations that hikes in voice tariffs and improving tariff outlook should aid the telco.

​"Ongoing delays in Vedanta Resources' refinancing efforts and its continued reliance on dividend receipts are depleting liquidity at its operating subsidiaries," Moody's said.

"Gold price premium charged by Tanishq in top 9 cities has reduced by about 50% (to 1-3%) due to the rise in competitive intensity from national and local jewellery retailers. We estimate about 20% of Titan's fair value in DCF is contributed by gold price premium, which is at risk now," ICICI Securities said.

​"Ongoing delays in Vedanta Resources' refinancing efforts and its continued reliance on dividend receipts are depleting liquidity at its operating subsidiaries," Moody's said.

The Nikkei stock market in Japan fell 1.67% on Friday, after the central bank's decision to maintain stimulus settings hurt their profit outlook. The decline was broad-based, with every sector of the index declining. Financials were the worst hit, with a 4.4% plunge.

The embattled bank's stock fell to 2.463 Swiss francs on the Swiss Market Index amid the sell-off.

​"Ongoing delays in Vedanta Resources' refinancing efforts and its continued reliance on dividend receipts are depleting liquidity at its operating subsidiaries," Moody's said.

The European banking index hit a six-week low after U.S. tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding

At a time when uncertainty looms over the industry, led by high inflation, unpredictable monsoons, continued weak rural sales, and delay in commodity costs decline, ITC’s earnings performance in the last couple of years and FY24 shines like a beacon, said Motilal Oswal.

"This impacted sentiments, and banking stocks took a beating on concerns that rising interest rates might trigger loan repayment defaults. This is a US-specific issue and will not have an impact on Indian banking stocks. But the sentiment impact can be negative," he cautioned.

These small cap companies have shown an improvement in their SR score at a time when markets have been overwhelmed by news and other developments. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation of “buy” or "strong buy".

Rishi Chopra, spokesperson of Swan Energy, said the agreement will enhance the rental earning capabilities of the vessel, and therefore the net revenue from the rental will strengthen our profitability position.

Some of the initial outperformers in the stock market rally which started after covid outbreak, were from the textile sector. With a number of companies getting benefits under the PLI scheme, interest on the street in this sector is still high. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum.

In the meantime, shares of Adani Total Gas, Adani Transmission, and Adani Green Energy were locked in 5% upper circuit limits. Those trading with a negative bias include NDTV, Adani Wilmar, and Ambuja Cements.

Ajanta Pharma is a speciality pharmaceutical formulation company having branded generic business in India and emerging markets, generic business in US and institution business in Africa. Many of the company's products are 1st to market and are leading in their sub-therapeutic segments. The company has a state of the art R&D centre in Mumbai.

REC is a Maharatna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company with a market cap of Rs 32,441 crore (as on 10 March 2023). Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution.

The lenders cumulatively hold 36.12% stake in YES Bank. This does not take into consideration the stake of Bandhan Bank and Federal Bank as their holding has dropped below 1% and was therefore not visible in the shareholding pattern.

“Gold price has been under pressure for the past month due to a possible hawkish stance that is likely to be taken by Fed Chair Jerome Powell in the next Federal Open Market Committee Meeting (FOMC) scheduled later this month,” Gaglani said, adding that this has dented yellow metal's appeal.

The Relative Strength Index (RSI) RSI is at 71.6. RSI above 70 is considered overbought. This implies that stock may show pullback, Trendlyne data showed. MACD is above its center and signal line, this is a bullish indicator.

“Silicon Valley Bank is just the tip of the iceberg,” said Christopher Whalen, chairman of Whalen Global Advisors, a financial consulting firm. “I’m not worried about the big guys but a lot of the small guys are going to take a terrible kicking,” he said. “Many of them will have to raise equity.”

The total market capitalisation of all BSE-listed stocks fell to Rs 261.24 lakh crore today as bears ruled the Street for the second consecutive day amid weak global cues.

On the weekly options front, the maximum Call OI is placed at 17,700 and then towards 18,000 strikes, while the maximum Put OI is placed at 17,600 and then towards 17,700 strikes.

The Futures Industry Association (FIA), a trade group that includes major Wall Street players as well as the OCC as members, invited OCC to participate in a call about 0DTE at a meeting on March 1, both the OCC and FIA confirmed. Members of the FIA include the major banks on Wall Street.

Nifty Bank was trading at 40,551.60 at 10:10 am and was down by 705.15 points or 1.71%. All 12 stocks in the index were in the red. While Punjab National Bank (PNB) was the top loser (-2.26%), heavyweights including HDFC Bank, ICICI Bank, and State Bank of India engineered the collapse not just in the Bank Nifty but also in the broader market Nifty50.

The total market capitalisation of all BSE-listed stocks fell to Rs 261.24 lakh crore today as bears ruled the Street for the second consecutive day amid weak global cues.

Jefferies upgraded Bharti Airtel to buy with a target price of Rs 900. Share gains among 4G users is driving ARPU for the telecom major. Intensifying focus on boosting ARPU and improving tariff outlook are all positives for the stock. An effective duopoly is in the works, and the risk-to-reward ratio is turning favourable.

A study of BSE500 stocks shows that there are at least 4 smallcap counters that are trading below half of their book value. In other words, their PB ratio has gone below 0.50x. Whenever the indicator slips below 1, the underlying is usually believed to be underpriced by the market.

The company’s price has made a failed attempt to surpass its previous peak of Rs 227 formed in the month of September 2022. The price band of Rs 227 – Rs 223 is acting as a supply zone, and the price has reversed from that zone on a couple of occasions in the recent past as well. Price has formed a bearish engulfing, which is a reversal pattern and supports our bearish view of price.

From the Sensex pack, ICICI Bank, Bajaj Finance, L&T and Bajaj Finserv were the top losers, falling over 1.5%. Tech Mahindra, HDFC bank, IndusInd Bank, Infosys and Axis Bank also opened with cuts. Meanwhile, only Tata Motors and Bharti Airtel opened with gains.

Sensex tanks over 700 pts, Nifty below 17,400; Adani Ent falls 5%, HDFC Bank 2%; Future Retail , RBL Bank, Sonata Software are some of the other top losers in the morning trade.

On Thursday, the markets struggled to remain positive with the headline index Nifty ending the day with an almost one percent loss. Stock-specific opportunities continue to hold good promises.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on BHEL and Manappuram Finance while CA Rudramurthy has a buy/sell recommendation on NTPC and Bharti Airtel for today's trading session. Check out the targets and stoploss.

Lemon Tree Hotels has also been trading with lower volatility of 0.91 over the 12-month period, the data further suggested. Momentum indicators RSI and MFI are in a medium range of 57.4 and 61.1 which indicates that there is still an upside left in the stock. A number below 20 is considered at oversold while above 70 is seen as overbought.

Investors in SVB's stock fretted over whether the capital raise would be sufficient given the deteriorating fortunes of many technology startups that the bank serves. The company's stock collapsed to its lowest level since 2016, and after the market closed shares slid another 26% in extended trade.

Aditya Birla Capital (AB Capital) looks set for a new leg of an up move, after the marginal retracement towards the neckline(breakout) area of the pattern," Ajit Mishra, VP - Technical Research, Religare Broking Ltd., said.

The stock has rallied over 65% so far in this quarter. On the daily chart, the stock has been consistently forming higher high and higher low formation and it has also formed a long bullish candle on weekly charts which is largely positive.

But since long-dormant Japanese inflation has gathered pace, and following a surprise relaxation of a cap on 10-year yields in December, speculation of changes is rife and has dollar/yen volatility gauges spiking. The yen nudged a little higher to 135.86 prior to the BOJ policy announcement.

Kuroda has championed a raft of ultra-loose policies in his decade at the central bank's helm, despite recent pressure to join the Federal Reserve and other global peers, which have hiked interest rates to tackle inflation.

Nifty futures on the Singapore Exchange traded 140 points, or 0.79 per cent, lower at 17,478, signaling that Dalal Street was headed for negative start on Friday. Here are some stocks which are expected to see some action in trade today.

Traders were betting that chances of a 50-basis-point rate hike at the Fed's March meeting were around 60%, according to CME Group's FedWatch tool, up sharply from a probability of 31% before Powell's Tuesday and Wednesday appearances in Congress.

F&O data showed that on the call side, the highest OI was observed at 17700 followed by 17800 strike prices while on the put side, the highest OI was at 17500 strike price.

The board of REC has approved fundraising of up to Rs 1.2 lakh crore under different debt instruments for financial year 2023-24. The funds will be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions.

PhonePe has already raised nearly $450 million in primary capital from PE major General Atlantic, Tiger Global, Ribbit Capital, among others, in this current funding round at a valuation of $12 billion. Some of the existing shareholders in Flipkart like Bansal, Tiger Global, China’s Tencent, Qatar Investment Authority and Microsoft, were expected to buy a fresh stake in PhonePe, as the company put together a new ownership structure.

If a deal takes place, this will be the second-largest hospital buyout in India after the IHH-Fortis transaction of 2018.

It is extremely likely that the funds for the transaction, if it were to go ahead, would be drawn from India allocations of the private equity firms in the fray, and negotiations are being done by the India teams of the respective PE firms

While the overall retail APE for the industry rose 10.5% on a year-on-year basis, helped by private players expanding at 18%, LIC's retail APE declined by 3% over the same period. The low growth resulted from a likely pre-booking of high-ticket non-ULIP policies in February and March 2023 to avoid the impact of taxation change proposed in the FY24 union budget, according to an Emkay report.