Sensex Trades on a Volatile Note; Hero MotoCorp & Power Grid Top Losers

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Share markets in India are presently trading on a volatile note, fluctuating between gains and losses.

Benchmark indices started today's session on a lacklustre note. The BSE Sensex fell over 200 points in the first few minutes of trade. However, losses were erased thereafter as the Sensex gained over 100 points. Gains were again wiped out amid panic selling.

Presently, the BSE Sensex is trading down by 65 points.

Meanwhile, the broader NSE Nifty is trading down by 19 points.

The BSE Mid Cap index and the BSE Small Cap Index are trading up by 0.1% and 0.6%, respectively.

Sectoral indices are trading on a mixed note with stocks in the power sector and metal sector witnessing selling pressure.

On the other hand, telecom stocks are witnessing buying interest.

Gold prices are trading down by 0.4% at Rs 47,371 per 10 grams.

The rupee is currently trading at 76.16 against the US$.

Speaking of the current stock market scenario, note that the coronavirus impact has shaken markets worldwide.

For the BSE Sensex, FY20 was the second worst year post FY08, the year of the global financial crisis.

Good Time to Start Investing Now?

Naturally, there is an atmosphere of fear all round.

So, is it time to sell stocks now? Will the correction get worse?

History has shown that after years like the one we had just now, the next 3 years are good for the markets. In fact, these corrections are the rare times when you find businesses with solid fundamentals at reasonable valuations.

If you can find good businesses that can survive the current crisis, you will do well in the long run.

In his latest video, Rahul Shah shares two of the most fundamental principles of making sure how your portfolio earns an A+ most of the time.

What are these fundamental principles and how to apply them?

Tune in to find out more...

In news from the chemicals sector, Navin Fluorine share price is among the buzzing stocks today. This comes as the company reported a 675% surge on a year-on-year (YoY) basis in its consolidated net profit at Rs 2,726.9 million in March quarter of 2019-20 (Q4FY20).

The company's sales rose 9.5% YoY to Rs 2,765.7 million in Q4FY20 as against Rs 2,525.8 million posted during the corresponding quarter last year.

The company posted a 52% YoY growth in its specialty business revenues to Rs 1,040 million on the back of strong performance in domestic and export markets driven by higher volumes.

CRAMS business revenues grew at 26% YoY to Rs 540 million on successful commissioning and operations of cGMP-3 plant, and strong order book position.

For the full year, the company's net profit rose 174% to Rs 4,085.9 million in the year ended March 2020 and sales rose 6.6% to Rs 10,615.5 million.

Shares of the company surged 6% today after reporting good set of numbers. The stock also got a lift from the company's update that the Covid-19 was unlikely to have any significant impact on its operations.

In an exchange filing, the company said that its management has carried out a detailed assessment of the impact of Covid-19 on its business operations and liquidity position, and on the recoverability and carrying values of its assets for the next one year, and is of the opinion that there won't be any significant impact of Covid-19 on its operations.

The company further said that it had temporarily suspended manufacturing operations at its facilities at Bhestan, Gujarat and Dewas, Madhya Pradesh. It restarted operations in these facilities from April 14, 2020 after obtaining requisite permissions from concerned government authorities.

Navin Fluorine share price is presently trading up by 2.6%.

Moving on to news from the cement sector, as per a leading financial daily, Radhakishan Damani is considering acquiring a controlling stake in cement manufacturer company India Cements.

Damani, the owner of Avenue Supermarts, has informally reached out to the cement manufacturer's controlling shareholder, N. Srinivasan, to explore a takeover.

Srinivasan, who controls about 29% of the Chennai-based cement maker, is also exploring other investors to ward off any hostile bids. Reports state that Damani has promised a friendly change in management and isn't seeking a hostile takeover.

Note that Damani and his family have been piling on shares of India Cements for some months, and their holdings have quadrupled this year to about 20% as of March 31, 2020, exchange filings show.

Shares of the company surged as much as 11% today on back of the above news. So far this year, shares of the company have surged about 92%.

Reports state that a successful deal may help Damani diversify his holdings while India Cements would get a backer with deep pockets to gear it up against rivals such as UltraTech Cement and LafargeHolcim.

How this deal pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers