Yes Bank dropped from NSE Nifty 50; to be replaced by Shree Cement.
Tata Motors has seen its stock tumble 8% in the last two trading sessions. The reason? The coronavirus outbreak in China, where the auto giant has a strong presence through its subsidiary Jaguar Land Rover Automotive Plc. (JLR), 23% of whose sales have come from Chinese markets previously.
According to JLR’s CEO, the company is “making no sales in China”, and it was also forced to extend the shutdown at its manufacturing unit amid contagion concerns. [Livemint]
The Nifty 50 has said “No” to Yes Bank. From March 27th, shares of the private lender will exit the benchmark index and be replaced by Shree Cement, a Kolkata-based manufacturer of cement. [NDTV Profit]
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