Sensex falls 203 points; Yes Bank, Tata Motors tank 8%

CNBC

Market Close: The benchmark indices ended lower in the volatile trading on May 15 with Nifty closed below 11,200 mark.

At close, the Sensex was down 203.65 points at 37,114.88, while Nifty was down 65 points at 11,157. About 982 shares have advanced, 1544 shares declined, and 176 shares are unchanged. 
Yes Bank, Tata Motors, Zee Entertainment, JSW Steel and Gail were the top losers on the Nifty, while gainers were Bajaj Finance, Eicher Motors, UPL, IOC and Indiabulls Housing.
Among the sectors, metal index slipped 2 percent followed by auto, infra, pharma, FMCG and bank.   
Market Update: Sensex is up 102.03 points or 0.27 percent at 37,420.56. Nifty is up 19 points or 0.17 percent at 11,241. About 1134 shares have advanced, 1086 shares have declined, and 148 shares are unchanged.
Bajaj Finance, Mahindra & Mahindra and Eicher Motors were among top gainers. Yes Bank, Tata Motors and Zee Entertainment were among the biggest losers. 
As for sectoral indices, All except Media, Metal and PSU banks were in the green. Media is the biggest loser, down 3.19 percent, while Financial Services were the biggest gainer, up 0.51 percent. 
Greenlam Industries gains: Greenlam Asia Pacific Pte, a wholly owned (step-down) subsidiary of Greenlam Industries, acquired 100% shares of Decolan SA from Mr. Giovanni lurza, the sole shareholdcder, and consequently Decolan SA has become a wholly owned (direct) subsidiary of Greenlam Asia Pacific Pte.
Buzzing: Shares of Jet Airways was down more than 4 percent intraday on May 15 after falling to a 52-week low of Rs 121.10 in the morning session.
Market Update: Benchmark indices are trading higher with Nifty above 11,250 level, while Sensex up 200 points.
At 10:38 hrs IST, the Sensex is up 200.33 points at 37518.86, while Nifty is up 53.50 points at 11275.50. About 1155 shares have advanced, 689 shares declined, and 121 shares are unchanged. 
Rupee Update: The Indian rupee has extended its morning gains against the US dollar. It is trading higher by 19 paise at 70.25 per dollar versus previous close 70.44.
Crude Update: Oil eased on Wednesday after closely watched data showed a surprise rise in US crude stockpiles, but prices were supported by mounting tensions in the Middle East.
Gold Update: Gold steadied on Wednesday after retreating from a one-month peak in the previous session as Washington and Beijing decided to further their discussions on trade, soothing investor concerns around a full-blown trade war.
Market Opens: It is a good start for the market on May 15 with Nifty opened above 11,250 level.
At 09:17 hrs IST, the Sensex is up 116.55 points at 37435.08, while Nifty is up 34.50 points at 11256.50. About 444 shares have advanced, 203 shares declined, and 21 shares are unchanged. 
SBI, IndusInd Bank, Axis Bank, ICICI Bank, Nestle India are among major gainers on the indices, while losers are Yes Bank, Dr Reddy's Lab, Bharti Airtel, JSW Steel, Pidilite and Jet Airways.
All the sectoral indices are trading in green led by energy, FMCG, auto, bank and IT.
Rupee Opens: The Indian rupee opened higher by 10 paise at 70.34 per dollar on Wednesday versus previous close 70.44.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session with Nifty above 11,250.
At 09:01 hrs IST, the Sensex is up 230.29 points or 0.62% at 37548.82, and the Nifty up 47.70 points or 0.43% at 11269.70.
Credit Suisse on Union Bank
Q4 results weak as slippages remain elevated & growth stays Weak
Cut EPS by 13%; reiterate neutral with target cut to Rs 75 from Rs 78 per share
Citi on Union Bank
Retain sell call; raise target to Rs 70 from Rs 65 per share
While divergence in NPA was low, that in provisions was higher
Lower FY20/21 estimates by 16% on higher provisions
IDFC Securities on Yes Bank
Reiterate underperform with target at Rs 135 per share
RBI appointing an additional director is a serious matter & negative for the bank
Morgan Stanley on Nestle
Underweight rating, target at Rs 8,400 per share
Higher commodity prices affected gross margin
Higher other income drove adjusted profit growth of 9% YoY
Jefferies on Nestle
Buy rating, target at Rs 12,000 per share
Continue to like its focus on volume-led growth 
CLSA on Nestle
Maintain outperform, target at Rs 11,750 per share
Decent domestic growth but weak margin
CLSA on Union Bank
Retain buy call but cut target to Rs 96 from Rs 105 per share
Retain a buy rating for reasonable valuation & better CASA franchise 
CLSA on Westlife
Maintain buy rating, but lower target price to Rs 450 from Rs 550 per share
Better than expected margin helped but growth concerns emerge now
Credit Suisse on Aarti Industries
Initiate with outperform, target at Rs 2,000 per share
Strong track record makes it a preferred partner for clients
Credit Suisse on PI Industries
Initiate with outperform, target at Rs 1,300 per share
Order backlog unwinding to be a key driver
Credit Suisse on Pidilite Industries
Very weak Q4, massive slowdown in volume growth
Adjusted PBT down 1% YoY; 10% below our estimates
Miss was largely driven by weak volume growth
Asia trades mixed: Asian stocks struggled near a 3-1/2-month low on Wednesday on lingering concerns over the economic impact of a US-China trade war, although an overnight bounce on Wall Street helped limit the losses.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 3 points or 0.03 percent. Nifty futures were trading around 11,364-level on the Singaporean Exchange.
Wall Street ends higher: Technology stocks led the S&P 500 and the Nasdaq higher on Tuesday, with US stocks reclaiming ground lost to Monday's steep sell-off as investors took heart from a tonal shift in ongoing US trade negotiations with China.