News for Kothari Products Limited (KOTHARIPRO.BO)

Stocks including Bharti Airtel, Zomato, ABB India, Paytm, Anant Raj, SBI Cards, GMR Airports, KIMS and Uno Minda more will be in the spotlight on Tuesday, February 14.

Indian benchmark indices fell for the eighth straight session to end Friday in the red amid FII selling with banks, auto and FMCG sectors among the big losers. When markets resume trading on Monday, a host of important domestic and global events lined-up during the week are likely to impact them.

Kothari Products announced a 1:1 bonus share issue, causing a 7.4% stock rise to Rs 209.70. The issuance will be financed from free reserves, increasing authorized capital to Rs 61.50 crore. Shares surged 58.55% YoY.

Stock of Kothari Products Ltd zoomed 20% on Friday after the firm said its board would meet on December 27 for considering bonus issue of shares. Kothari Products stock ended 20% higher at Rs 205.55 against the previous close of Rs  171.30 on BSE. Market cap of the firm rose to Rs 613.44 crore.

Genus Power Infrastructure, Shakti Pumps (India), Gallant Ispat, Suraj Estate Developers, Panacea Biotec, Suzlon and Elpro Intl among BSE Allcap index were frozen at the highest limit for the day.

The broader market outlook suggests a sell-on-rise strategy as long as the Nifty 50 stays below 21,650.

Much of the wealth erosion was seen in the last four days, with more than Rs 14 lakh crore of wealth destroyed in four consecutive sessions (September 21-26).

Start nibbling at high quality stocks which have corrected disproportionately, says V K Vijayakumar, chief investment strategist at Geojit Financial Services

India VIX, the volatility gauge of domestic markets, was soaring higher above 30 levels as the index rose more than 6%