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Market Wrap: Indices end flat, Sensex slips 27 pts; Suzlon Energy gains 31%

The benchmark indices settled flat on Friday amid a rise in automobile and metal stocks.

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The benchmark indices settled flat on Friday amid a rise in automobile and metal stocks.testing.. we are here....

The S&P ended at 35,871, down 27 points, while the broader Nifty50 index settled at 10,792, up 2 points.

Among sectoral indices, Auto index rose 1.5 per cent driven by gains in Motherson Sumi Systems and Tata Motors. The Metal index, too, rose 1.65 per cent led by Jindal Stainless (Hisar) and Welspun Corp.

In the broader market, the S&P MidCap index gained 54 points, or 0.38 per cent to 14,170, while S&P SmallCap index settled at 13,518, up 104 points, or 0.77 per cent.

Buzzing Stocks

Shares of Reliance Nippon Life Asset Management surged 20 per cent to Rs 224 in intra-day trade, rallying 44 per cent in past two trading sessions on the BSE, after decided to put its stake in the company up for grabs. The stock settled at Rs 199, up 6.3 per cent on Friday.

Suzlon Energy jumped 31 per cent to end at Rs 5.80 on the BSE. In intra-day deals, the stock had touched a high of Rs 6.15, rallying 68.5 per cent in the past two trading sessions from a level of Rs 3.65 on Wednesday.

Uber Eats may sell Indian biz to Swiggy by March, keep 10% stake: Report

Uber Eats, the food delivery arm of ride-hailing app Uber Technologies Inc, is close to a deal to sell its Indian business to Bengaluru-based Swiggy, the Economic Times reported on Friday.

The share-swap deal is expected to close by next month and will give Uber a 10 percent stake in food delivery service Swiggy, the paper said, citing people privy to the development.

Separately, the Times of India reported that Uber was considering the sale of its food delivery arm in India and has been in talks with Swiggy and Gurugram-based Zomato.

Swiggy is currently leading discussions but rival Zomato is still in the race for a share-swap deal, the Times of India said, citing sources familiar with the development.

Swiggy, which runs a mobile-based application and a website for food-delivery services, currently operates in more than 80 Indian cities.

First Published: Mon, March 04 2019. 14:09 IST
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