MARKETS LIVE: Nifty above 10400 mark; Infosys dips 4%; March WPI at 2.7%

Markets, Stocks, BSE, NSESBI MF re-classifies, categorise schemes; gives exit option to unit holders   SBI Asset Management Company has re-classified and categorised its several schemes, a move that will reduce clutter and make it simple to compare performance of various other mutual fund schemes.   Besides, the fund house has given the exit option to existing investors.   The move is part of the fund house effort to comply with markets regulator Sebi’s directive. READ MORE MARKET COMMENT Export growth accelerated to 9.8% YoY for F2018, from 5.2% in F2017 and a contraction of 15.5 in F2016. We continue to expect that export growth will hold up well, considering that the starting point of global demand is strong. While the possibility of trade protectionism is a risk factor, our base case view is that negotiations are still the likely outcome. Robust import growth reflects continued strength in domestic demand conditions, which is consistent with other high-frequency indicators. We continue to expect these favorable consumption and exports conditions to drive the recovery and help pave the way for a private capex recovery this year. (Source: Morgan Stanley) NEWS WATCH March WPI Inflation at 2.47% Vs 2.48% (MoM) Markets at noon S&P BSE Sensex 34,115.80 -0.22%   Nifty 50 10,462.05 -0.18%   S&P BSE 200 4,600.80 -0.09%   Nifty 500 9,254.65 -0.14%   S&P BSE Mid-Cap 16,654.36 -0.14%   S&P BSE Small-Cap 17,976.82 -0.03% Nifty IT losers COMPANY LATEST PREV CLOSE LOSS() LOSS(%) INFOSYS 1130.05 1171.45 -41.40 -3.53 INFIBEAM INCORP. 169.05 172.30 -3.25 -1.89 KPIT TECH. 226.45 229.55 -3.10 -1.35 TATA ELXSI 1061.00 1073.60 -12.60 -1.17 WIPRO 291.10 294.15 -3.05 -1.04     Alarmed by active bidders, Jaypee Infratech tries to reclaim firm   As multiple bidders, starting with Sudhir Valia of Suraksha Asset Reconstruction Company to Adani Group, eye taking over beleaguered real estate biggie Jaypee Infratech (JIL), fears of the valuation of the company being slashed to less than half are making the promoters rush to the Supreme Court (SC) to reclaim the company.   While the bidders are making offers ranging between Rs 70 billion and Rs 80 billion, sources close to JIL said that the valuation of the company was not less than Rs 160 billion. “The company has over 3,300 acres, lying unused. That itself is worth over Rs 100 billion. The rest in assets makes the valuation of the firm to Rs 160 billion,” a source close to the company said. READ MORE
Source: Business Standard