Heena Sharma Blog

Shares of most information technology (IT) companies were trading flat with negative bias on Monday as investors turned cautious after the US President Donald Trump said late on Saturday he would announce new restrictions on visas within a couple of days to block the entry of certain foreign workers and protect Americans struggling with a job market devastated by the coronavirus pandemic . “We’re going to be announcing something tomorrow or the next day on the visas,” he told Fox News Channel. Asked if there would be exclusions from the new restrictions, Trump said very few. Read More

Shares of multiplex operators PVR and Inox Leisure hit their respective 52-week lows in the early deals on the BSE on Friday amid reports that the Maharashtra government could extend lockdown in Mumbai, Pune and other hotspots in the state till May 31. That apart, media reports suggest OTT (over-the-top) platform Amazon Prime Video has acquired seven Bollywood and regional films, including Amitabh Bachchan-Ayushmann Khurrana starrer 'Gulabo Sitabo' and Vidya Balan-starrer 'Shakuntala Devi' for direct-to-digital premiere. PVR (Rs 851) and Inox Leisure (Rs 193) slumped 4 per cent each in the early morning trade, falling below their previous lows of Rs 870 and Rs 200, hit on May 6 and April 28, 2020, respectively. Read More

Shares of YES Bank slipped 20 per cent to Rs 43.15 on the BSE on Friday, extending its Thursday’s 13 per cent fall, after new equity shares allotted to investors through preferential issue were permitted to trade on the exchanges. With the past two days’ decline, the market price of YES Bank has more than halved from the level of Rs 87.95 touched on Wednesday, March 18, in the intra-day trade. It had hit an all-time low of Rs 5.55 on March 6, on the BSE. “A 1,000 million equity shares of Rs 2 each issued at a premium of Rs 8 issued to non-promoters on a preferential basis pursuant to YES Bank Reconstruction Scheme, 2020, approved by Ministry of Finance, are listed and permitted to trade on the Exchange with effect from Thursday, March 19, 2020,” BSE said in a notice dated March 18, 2020. YES Bank had raised Rs 10,000 crore pursuant to allotment of shares to State Bank of India (SBI) and other investors including HDFC, ICICI Bank, Axis Bank, Kotak Mahindra Bank under the Reco

Shares of Vodafone Idea jumped 48 per cent to Rs 4.49 on the BSE on Wednesday on the back of heavy volumes on report that the government is unlikely to invoke bank guarantees for now. Till 12:29 pm, a combined 355 million shares changed hands on the counter on the NSE and BSE. In the past seven trading days, the stock has tanked 42 per cent after the Supreme Court dismissed the petitions of telcos seeking a staggered option to pay their Adjusted Gross Revenue (AGR) related dues. According to a report by The Economic Times, the government is unlikely to invoke Vodafone Idea’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 said. The Department of Telecommunications (DoT) has sought legal opinion including that of Solicitor General Tushar Mehta on whether to invoke bank guarantees of companies in case they fail to pay their