Live Market Updates: Nifty flat; Hero Moto up 3%, Orient Paper plunges 80%

12:22

After losing almost 40 points in early trade, the Sensex is flat at 19234 and the Nifty down 11.65 points at 5806. About 1187 shares have advanced, 1193 shares declined, and 1126 shares are unchanged.
Shares in Hero MotoCorp were up nearly 3 percent after Kotak Institutional Equities upgrades the stock to "add" from "sell".

Realty player DLF continues to see buying. The stock is up 1.78 percent. Its board has approved the plan to sell shares, either through IPP or other methods.

Elder Pharma is up more than six percent today. The company is setting up a joint venture with Japan's Kose Corp to make and sell cosmetics in India. Elder Pharma will own a 40% stake in the venture, while Kose will hold 60%.

On the flip side, Jindal Steel is the top loser on the Sensex down 2.71 percent. From the metals pack Hindalco, Tata Steel slipped more than two percent.

Orient Paper and Industries plunged more than 80 percent as the company will demerge its cement business. ( More details)

SAIL is down nearly 2%. It is learnt that EGoM is likely to decide on the SAIL offer for sale on the March 15.

Meanwhile, the rupee recovered initial losses but was still quoting lower by three paise to 54.75 per dollar in the late morning.

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