Market Today

1. HUL falls 3% as parent Unilever withdraws guidance amid COVID-19 outbreak

The company withdrew its sales performance targets for the year, which forecast growth at the lower end of a 3%-5% range.

2. Chinese investors flummoxed (confused) by India's new foreign investment rules

The new rules are to curb "opportunistic" takeovers during the coronavirus outbreak that has hit Indian businesses, but government sources have said they will also apply to greenfield investments. China has called the rules "discriminatory".

3. Lockdown delays Bharti Infratel-Indus Towers merger, deal postponed for 4th time

Bharti Infratel once again extended the deadline for completion of the company's merger with Indus Towers, this time as the two parties were unable to close the transaction amid the covid-19 lockdown.

4. SEBI eases buyback rules for fundraising amid coronavirus pandemic

To enable relatively quicker access to capital, SEBI has decided to temporarily relax the period of restriction provided in the buyback norms. The current one-year period has been reduced to six months.

Earlier this week, the regulator has eased rights issue rules by reducing minimum public holding requirement to Rs 100 crore from Rs 250 crore.

5. SBI Card reports outstanding borrowing at Rs 17,363 crore at FY20-end

The credit card company said that it shall be liable to pay a fine to BSE up to 0.2 per cent of a shortfall in case there is a deficit in the mandatory borrowing through debt securities, to be levied at the end of the two-year block period.

Stock of SBI Cards and Payment Services was trading 1.76 per cent up at Rs 541.40 on BSE.