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Market reverses initial losses amid volatility; breadth strong


Volatility struck bourses in early trade as the key benchmark indices regained positive zone soon after opening lower. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 47.04 points or 0.09% at 50,240.37. The Nifty 50 index was up 21 points or 0.14% at 15,129.10.
The S&P BSE Mid-Cap index was up 0.82%. The S&P BSE Small-Cap index was up 0.69%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1573 shares rose and 673 shares fell. A total of 106 shares were unchanged.
Stocks in news:
Tata Motors lost 4.86%. On a consolidated basis, Tata Motors reported net loss of Rs 7,605.40 crore in Q4 FY21 lower than net loss of Rs 9,894.25 crore in Q4 FY20. Total revenue from operations during the quarter increased 41.8% year-on-year (YoY) to Rs 88,627.90 crore in Q4 FY21. ....

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Larsen & Toubro to acquire 6.35% stake in Help Lightning


Through its subsidiary Larsen & Toubro International FZELarsen & Toubro announced that its wholly owned subsidiary, Larsen & Toubro International FZE has entered into a Share Purchase Agreement on 17 May 2021 to purchase, 6.35% stake in Help Lightning INC., a Delaware Corporation.
The company will invest USD 2.5 million for acquisition of 2,241,408.68 shares of Series A Preferred Stock.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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Stocks to watch: Axis Bank, Panacea Biotec, Torrent Pharma, Ujjivan SFB, Abbott India, L&T, Canara Bank, Tata Motors others


: Wednesday, May 19, 2021, 12:26 AM IST
Stocks to watch: Axis Bank, Panacea Biotec, Torrent Pharma, Ujjivan SFB, Abbott India, L&T, Canara Bank, Tata Motors others
There are some stocks that may be much more active than others. So, some stocks to watch out for today are:
Axis Bank: Specified Undertaking of the Unit Trust of India (SUUTI) is looking at selling 3.6 crore shares via offer for sale (OFS) in private lender Axis Bank at a floor price of Rs 680 per share. This will help the government raise up to Rs 3,949.34 crore.
Panacea Biotec: Although Serum Institute of India (SII) CEO Adar Poonawalla on Monday offloaded his entire stake in Panacea Biotec amounting to 5.15 per cent shareholding of the firm, SII continues to hold 9.83 per cent stake in Panacea Biotec. The listed company informed the exchange that Poonawalla’s company SII through various holding and investing companies has a 9.83 per cent stake in Panacea Biotec. ....

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