Sensex closes 95 points higher, Nifty above 7,500 ahead of IIP data
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Mumbai: Indian stock markets edged higher on Friday in a volatile session as energy companies such as Reliance Industries Ltd (RIL) rallied after the country simplified oil and gas licensing rules, while property developers gained after Parliament passed a real estate bill.
The S&P BSE Sensex closed 0.38%, or 94.65 points, higher at 24,717.99, while the Nifty closed 0.32%, or 24.05 points, higher at 7,510.20, after spending the day swinging between gains and losses as investors also booked profits in recent outperformers.
For the week, the broader index rose 0.33%, marking a second consecutive weekly gain.
RIL rose 0.27%, while DLF Ltd gained 0.47%.
The government will announce Index of Industrial Production (IIP) data for January later on Friday.
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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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