Highlights of the week
-RBI has cut the repo rate by 75 bps & reverse repo by 90 bps in response to the unprecedented COVID=19 crisis. The apex lender has also slashed cash reserve ratio by 100 bps to 3% & cut SLR by 3%.
-IRDAI Relaxation On Reinsurance Plan: Insurance cos can submit FY21 reinsurance programme by May 31 instead of April 30
-Credit card dues to fall under items included in term loan, as per RBI clarification
-Conoravirus data: India has reported a total of 976 cases, 867 are active while 86 have recovered. The death toll from coronavirus in India has risen to 20.
-On Friday, BSE 30-share barometer Sensex ended 131 points lower at 29,815 and NSE 50-share index Nifty closed at 8,660, falling 18 points.
Stocks in the news today
Here is a list of top stocks that are likely to be in focus in Monday's trading session based on latest developments.
Auto companies: The Supreme Court has granted auto companies some relief for BS-IV vehicle sales, saying that companies can sell 10% of their BS-IV inventory for 10 days after the lockdown lifts.
Tata companies: Tata Sons will be contributing Rs 1,000 cr towards fighting the Coronavirus outbreak in the country. The group also announced Tata Trusts pledging Rs 500 cr to protect & empower communities affected by the virus.
IndiaNivesh: IndiaNivesh Investment Managers Pvt. Ltd., a SEBI registered portfolio manager has decided to close operations amid current market volatility and global outbreak of Covid19.
Kotak Mahindra Bank: The lender & Uday Kotak personally have commited immediate support of Rs 50 crore to 'PM Cares' (Rs 25 cr each).
SpiceJet: The company announced that one of the pilot has tested positive for coronavirus, and has been quarantined at home after operating Delhi-Chennai on March 21. The company said is has asked all crew, staff in direct contact with the pilot to self-quarantine for 14 days.
Bank of India: The lender has reduced MCLR and Housing, Vehicle and MSME loan interest rates.
State Bank of India: The public lender has passed on the entire 75 bps repo rate cut to its borrowers availing loans linked to External Benchmark linked lending rate (EBR) as well as Repo Linked Lending rate (RLLR).
Union Bank: Branches of Andhra Bank and Corporation Bank will operate as branches of Union Bank of India from April 1, 2020.
Motherson Sumi Systems: Moody's Investors Service has assigned Ba1 corporate family rating (CFR) to Motherson Sumi Systems Limited. Further, the outlook has been revised to "rating under review" from "negative".
NTPC Limited: The company has completed acquisition of entire equity stake of Government of India by 100% of paid-up equity share capital of NEEPCO and 74.496% of paid-up equity share capital of THDC.
Maruti Suzuki: The auto major has entered into an arrangement has been entered into with AgVa Healthcare and mobilized production of ventilators, masks and PPE to support India's preparation against COVID-19.
Heritage Foods: The company has contributed Rs 1 crore towards fighting against COVID 19 pandemic.
TVS Motor Company: The auto major with Sundaram-Clayton Ltd. has announced spending of Rs 30 crore to support nationwide efforts to combat COVID-19.