Sensex, Nifty may open flat; Banking, Dr Reddy’s stocks in focus
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Benchmark indices BSE Sensex and NSE Nifty are likely to open on a flat to cautious note on Friday taking cues from SGX Nifty and Asian markets.
At 8.27 am (IST), SGX Nifty was marginally down 5 points, or 0.06 per cent, at 7,928.50.
Asian markets were trading in red in the morning trade. Hang Seng, Nikkei and Shanghai were down 1.01 per cent, 0.25 per cent and 0.82 per cent, respectively.
Back home, Sensex on Thursday bounced back almost 183 points to close at over two-week high of 25,958.63 as investors lapped up realty, auto and metal stocks amid hopes of a breakthrough on GST Bill in Parliament and mixed cues from global markets.
Banking stocks will reamain in focus on Friday as Fitch on Thursday said that Indian banks are stable but there will be challenges ahead for state-owned banks given weak core capitalisation and slow earnings recovery.
Dr Reddy’s Laboratories on Thursday said that the USFDA has extended the time-frame for replying to the warning letter issued to the company by about two weeks to December 7. The share price of the pharma major plunged over 8 per cent in Thurday’s trade.
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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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