Nifty hovers around 8,250; RIL up 3%, HCL Tech falls 2% post Q1 nos
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Markets are trading higher in the opening traders tracking positive Asian cues along with strong buying among index heavyweight Reliance Inds post better than expected Q2 results.
Further, China posted its weakest quarterly economic growth since the global financial crisis on Monday, raising pressure on policymakers to cut interest rates further and roll out other support measures to avert a sharper slowdown.
By 9:30, the Sensex was higher by 73 points at 27,288 and the Nifty gained 11 points at 8,249.
Among broader markets, BSE Midcap and Smallcap indices are up 0.2-0.5%. Market breadth is positive on the BSE with 816 shares advancing and 301 shares declining.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 436.79 crore on Friday, 16 October 2015, as per provisional data released by the stock exchanges.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
"What happens is, when you win the election, EVMs (electronic voting machine) are not tampered. When you lose the election, EVMs are tampered (with)," remarked a bench of Justices Vikram Nath and P B Varale.
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The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
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Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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