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Falling for the third straight session, equity benchmark <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> tanked nearly 900 points to close below the 59,000 mark on Monday due to a massive sell-off in banking, finance and auto stocks amid one of the biggest US bank failures. Besides, unabated flight of foreign capital and a weak domestic currency amid global rate hike fears added to the gloom, traders said. After gaining 375 points in the early trade, the BSE Sensex could not hold to gains and declined 897.28 points or 1.52 per cent to settle at 58,237.85 as 29 of its constituents declined while only one advanced. During the day, it hit a low of 58,094.55 and a high of 59,510.92. The NSE Nifty fell 258.60 points or 1.49 per cent to end at 17,154.30, with 45 of its scrips ending in the red. IndusInd Bank was the biggest loser in the Sensex pack, shedding 7.46 per cent, followed by SBI, <keyword id="42747" type="General" weightage="50" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, M&amp;M, Bajaj Finserv, Axis Bank and Infosys. In contrast, <keyword id="43217" type="General" weightage="50" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> was the only winner. In the broader market, the BSE smallcap gauge dipped 2.08 per cent and the midcap index declined 1.82 per cent. The US-based SVB Financials, which mainly funds startups, crashed 60 per cent in the US market last week, triggering concerns over the health of banks' bond portfolios and its possible rippling effects globally. "...jitters over the largest US bank failure since the 2008 financial crisis, driving investors to the safe-haven asset," <keyword id="377165" type="General" weightage="50" keywordseo="navneet-damani" source="Orion">Navneet Damani</keyword>, Senior VP - of Commodity Research at Motilal Oswal Financial Services, said. In Asian markets, Shanghai, Hong Kong and Seoul ended in the green, while Tokyo settled lower. European equity markets were trading with significant losses in the afternoon trade. Meanwhile, the rupee declined 10 paise to close at 82.16 against the US dollar on Monday. International oil benchmark Brent crude declined 1.79 per cent to USD 81.30 per barrel. Foreign portfolio investors (FPIs) offloaded shares worth Rs 2,061.47 crore on Friday, according to exchange data. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/over-70-bn-wiped-off-global-crypto-market-bitcoin-drops-below-20000/articleshow/98605876.cms">Over $70 bn wiped off global crypto market, Bitcoin drops below $20,000</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-stocks-rally-after-group-prepays-2-15-billion-margin-linked-loans/articleshow/98601176.cms">Adani stocks rally after group prepays $2.15 billion margin-linked loans</a> <a href="https://www.businessinsider.in/finance/banks/news/new-yorks-signature-bank-collapses-becomes-2nd-us-bank-to-be-shut-down/articleshow/98602409.cms">New York's Signature Bank collapses, becomes 2nd US bank to be shut down</a>

Massive selloff in domestic equities amid US bank failures: Sensex closes below 59,000, Nifty tests 17,000

Seeking to tap the full potential of the Indian market with its two new dealer partners Italian <a href="http://www.businessinsider.in/God-Of-Good-Life-How-Sachin-Is-Minting-His-MillionsAnd-Spending-Them/articleshow/25681239.cms">luxury sports carmaker </a> <a href="http://economictimes.indiatimes.com/topic/Ferrari" target="_blank">Ferrari</a> claimed that all past cases which resulted from its tussle with previous distributor have been resolved. 
 

	The company, which entered the <a href="http://www.businessinsider.in/This-is-what-Vertu-and-Lamborghini-needs-to-learn-from-Apple-and-Samsung-in-India/articleshow/46758620.cms" target="_blank">Indian market</a> in 2011 through a distribution pact with the <keyword id="586838" type="ORGANIZATION" weightage="100" keywordseo="Shreyans-Group">Shreyans Group</keyword> as its official importer in the country, ran into trouble with the partner, resulting in legal battle and ultimately parted ways last year as customer complaints rose. "We are restarting the journey in India although at no point of time we ever thought of exiting the Indian market. We have two new dealer partners in Delhi and Mumbai. All the previous (customer) cases have been resolved," <keyword id="16120" type="COMPANY" weightage="100" keywordseo="Ferrari">Ferrari</keyword> Middle East &amp; Africa International Sales Director <keyword id="3022173" type="UNKNOWN" weightage="100" keywordseo="Aurelien-Sauvard">Aurelien Sauvard</keyword> told PTI. 

	"The cases have been resolved by Ferrari headquarter in Italy on a case-by-case basis. Each case has been closed and there are no pending cases," he said without sharing details when asked whether past customers who had booked the company's cars have been compensated or given deliveries. 
 

	When Ferrari and Shreyans Group were slugging it out, there had been cases of customers receiving no deliveries after booking the company's cars. 
 

	"Now we have personally contacted all existing Ferrari customers in India. No matter in which part of India they are, our new partners will take care of their service needs, either by sending technicians or bringing their cars to the service centre," Sauvard said. 
 Ferrari has appointed Select Cars Pvt Ltd as its Delhi dealer and <keyword id="3023398" type="ORGANIZATION" weightage="100" keywordseo="Navneet-Motors">Navneet Motors</keyword> for Mumbai, which will open in October. 

	Acknowledging that 'lessons' have been learnt, he said: "In our new journey, we are ensuring that we do not repeat past mistakes." 
 Bullish on the Indian market, he said: "Although this is not a full year we are looking at selling 20 units, including the newly launched <keyword id="586840" type="COMPANY" weightage="100" keywordseo="Ferrari-California">Ferrari California</keyword> T, here in India, next year we will have a full year with all the five range of global models available here. We expect good numbers." 

	The company today launched its Ferrari California T priced Rs 3.45 crore (ex-showroom Delhi). The new dealers will offer the entire line-up from the FF to the F-12 as well as the all-new 488 GTB by the end of the year. 
 

	Ferrari 458 Italia, 458 Spider and the 458 Speciale are also on offer, the company said. 
 

	"The luxury car market has been growing in India. We are quite encouraged by the response from the market as Ferrari has a good brand image here," Sauvard said. 
 

	He said the company will not be looking at expanding presence across India and rather concentrate on growing business in Delhi and Mumbai through its two partners in the next 3-5 years.

	 
	 
	(Image credits: Indiatimes)

Ferrari bullish on Indian market; claims all tussle resolved

<ul><li>The 30-share BSE index was trading 301 points higher, and the broader NSE Nifty gained 0.64% on Tuesday at 10:07 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity indices opened at record highs on Tuesday, playing catch-up with overseas gains after a long weekend. News that US drugmaker Moderna’s coronavirus vaccine was 94.5% effective in preventing infection is adding to the gains on Dalal Street. The 30-share BSE index was trading 301 points higher, and the broader NSE Nifty gained 0.64% on Tuesday at 10:07 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Motocorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr></tbody></table>*as of November 17, 10:06 am These are the top stocks in news today. Tata Steel tops over 6% The shares of Tata Steel rallied over 6% hitting the 52-week high of ₹523. This came after the company in a separate statement informed stock-exchanges that it has plans with respect to its operations in Europe. The company has initiated discussions with Sweden-based SSAB on the potential sale of Tata Steel Netherland business, including Ijmuiden steelworks. Tata Steel said it has also initiated the process to separate Tata Steel Netherlands and Tata Steel UK and will pursue separate strategic paths for the Netherlands and the UK businesses in the future. BPCL plunges over 4% The shares of BPCL plunged over 4% even though it completed its first phase of the privatisation process on Monday with several suitors submitting Expressions of Interest (EoI) for the state-run oil major. However, Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid for BPCL. Reliance Industries opened 4% higher The shares of Mukesh Ambani owned Reliance Industries’ opened 4% higher after its retail arm has picked up 96% stake in online furniture retailer<a href="https://www.businessinsider.in/retail/news/reliance-retail-acquires-urban-ladder-for-182-crore-at-a-sixth-of-the-startups-peak-valuation-in-2018/articleshow/79230550.cms"> Urban Ladder</a> for over ₹182 crore. The company said this acquisition would help Reliance Retail in bolstering its presence in the fast-growing e-commerce segment and widening the bouquet of consumer products provided by it as it looks to compete with e-commerce majors like Amazon and Flipkart. HDFC Asset Management Company gains over 2% The shares of HDFC Asset Management Company gained over 2% after its board of directors has approved the appointment of Navneet Munot as its next managing director and chief executive officer, succeeding Milind Barve. Munot was the chief investment officer of SBI Funds Management. NBCC India trades 2% higher The shares of state-owned construction firm NBCC opened 2% higher after the company said it had bagged business orders worth ₹1,165.52 crore last month. Larsen &amp; Toubro gain over 2% The shares of Larsen &amp; Toubro gained over 2% after the engineering and construction giant Larsen &amp; Toubro emerged as the lowest bidder for a ₹3,200 crore project to build a road bridge over the Brahmaputra river, according to an NHIDCL official. It will be one of the longest road bridges over a river in the country and on completion will connect two eastern states - Assam and Meghalaya. SEE ALSO:<a href="https://www.businessinsider.in/science/health/news/moderna-says-its-coronavirus-vaccine-is-94-5-effective-against-covid-19-a-crucial-victory-in-the-fight-against-the-pandemic/articleshow/79247349.cms" data-type="tilCustomLink"> Moderna says its coronavirus vaccine is 94.5% effective against COVID-19, a crucial victory in the fight against the pandemic</a> <a href="https://www.businessinsider.in/stock-market/news/dow-soars-375-points-to-near-record-as-modernas-vaccine-update-boosts-investor-optimism/articleshow/79249468.cms" data-type="tilCustomLink">Dow soars 450 points to new record as Moderna's vaccine update boosts investor optimism</a>

Market hits record high, Sensex breaches 44,000 — these are the top movers today

Maharashtra identified 14 districts as red zones— here’s the complete list of containment zones in Mumbai and Pune

You Searched For "Navneet Motors" and got 4 results

Massive selloff in domestic equities amid US bank failures: Sensex closes below 59,000, Nifty tests 17,000

PTI

Ferrari bullish on Indian market; claims all tussle resolved

BI India Bureau

Market hits record high, Sensex breaches 44,000 — these are the top movers today

Navdeep Yadav

Maharashtra identified 14 districts as red zones— here’s the complete list of containment zones in Mumbai and Pune

Navdeep Yadav

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