Stocks in Focus on March 24: BSE/MCX, United Spirits to Life Insurance stocks; here are expected 5 Newsmakers of the Day

Stocks in Focus on March 24: Posting its worst-day fall in history, markets sank nearly 13 per cent after the benchmark indices hit the lower circuit in the early morning trade on Monday 23, 2020. The Sensex plunged 3,935 points, or 13.15 per cent, to 25,981. The Nifty tumbled, 1,135 points, or 12.98 per cent, to end at a four-year low of 7,610. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Tuesday, March 24, 2020. List of such five stocks: 

BSE/MCX: Seeking urgent intervention of market regulator SEBI, the Association of National Exchanges Members of India (ANMI) has it to declare brokers and depository participants as part of essential services after several states refused to allow brokers and exchange officials to travel. The association has also asked SEBI to advise all state governments to issue a clarification on it. 

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Dabur India: The homegrown FMCG major Dabur on Monday announced a temporary suspension of its manufacturing operations across India till March 31, excluding essential products like Ayurvedic medicines, hand sanitizers, hand washes and Chyawanprash, in the public interest. The company has 12 manufacturing units in India. 

Telecom Stocks in Focus: The Sunil Bharti Mittal-led Bharti Airtel has written to its competitors Reliance Jio Infocomm Ltd., Vodafone Idea Ltd., BSNL and MTNL to set up intra-circle roaming and other processes to facilitate uninterrupted services to support work from home offered by almost all entities in the country amid the coronavirus outbreak. Also, the intra-circle roaming will be helpful in a situation where a site is shut, or Telecom service provider is not able to offer the service to users. Bharti Airtel also marked that the developments will be made following the Standard Operating Procedures (SOP-17) which has been issued by DoT.

United Spirits: The company on Monday announced that it will support the Government and Hospitality sector during this pandemic by producing 3 lakh litres of hand sanitisers through its 15 manufacturing units. Besides, Diageo will donate 500,000 litres of Extra Neutral Alcohol (ENA) to the sanitiser industry to make (2 million units of 250 ml each) hand sanitizer. It will provide health insurance cover to on-trade partners and donation of free masks to government public health departments. Moreover, with the bar and restaurant communities facing unprecedented challenges from the impact of COVID-19, the company has pledged to support trade with a Rs 3 crore health insurance cover for bartenders associated with the Diageo World Class programme in India. 

Life Insurers Stocks in focus: The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurance companies to allow additional 30 days of grace period for payment of renewal premium for life insurance policies if desired by the policyholders.