Corporate
The Nifty has a strong support at the 5,000 mark.
The Sensex touched a high of 16,943 and is now flat at 16,931, up 18 points.
After opening weak, the Asian markets have rebounded into the green. The Hang Seng is now up 19 points at 21,9212. The Nikkei is trading flat at 10,105.
In a first at the National Institute of Design (NID), academic profiles were offered to the graduating batch of young designers during placements this year. The annual industry interface at NID campuses in Ahmedabad and Gandhinagar saw around 70 firms visiting the campus. Apart from academics, profiles in auto design, apparel design, retail, and product design were offered by some of the biggies like Honda R&D, Bajaj Auto, LG, Madura Garments, TAFE, Luxor, Godrej Industries Limited, and Godrej & Boyce Manufacturing.
A high level committee appointed by the IIT Council will revisit the fee structure as part of its mandate to assess how the revenue could be increased for the premier institutes.
Kerala Tourism has launched an online training programme to help travel agents and tour operators in the UK get acquainted with the state’s tourism products and in turn increase UK sales to Kerala.
Media and entertainment firm UTV Software Communications today said it would raise $150 million (nearly Rs 750 crore) through various channels to meet its growth plans and retire debt.
Media and entertainment firm UTV Software Communications today said it will raise $150 million (nearly Rs 750 crore) through various channels to meet its growth plans and retire debt.
The Association of South East Asian Nations (ASEAN) will be a complete free trade area next year and regionally integrated for its six most mature economies when duties on most of products are eliminated.
UTV Motion Pictures, an arm of UTV Software Communications, has signed a series of non-exclusive television rights syndication deals amounting to Rs 95 crore. The deals are across their slate of 2008 and 2009 productions, from Oye Lucky! Lucky Oye! and Dev D to recent hits like Kaminey, Wake Up Sid and Kurbaan.
To be tabled in Winter, Budget sessions of Parliament.
Kingfisher Airlines Ltd, the Indian carrier owned by the nation’s largest brewer, may raise as much as $175 million selling shares and global depository receipts to repay debt.
Jaiprakash Associates today said its shareholders have approved an additional investment of Rs 200 crore in the company"s two subsidiaries.
City Union Bank will raise Rs 300 crore by way of private placement of shares with qualified institutional buyers.
United Spirits, the world"s third-largest spirits maker by volume, today said it plans to raise around $300-350 million to reduce its debt burden which it mobilised to buy out the world"s largest scotch producer, Whyte and Mackay.
Russians may still be humming their all-time favourite song — mera joota hai japani — but they are now choosing to buy Hindustani in big numbers.
Foreign airlines can now use larger aircraft and operate additional flights to India during the peak tourist season under the fresh guidelines issued by the government.
Kingfisher Airlines, owned by UB Group, is planning to raise up to Rs 500 crore through issue of further share capital. Company officials indicate that this may be through a number of options including a follow-on public or rights issue.
The Vijay Mallya-led Kingfisher Airlines led the chart of the loss-making carriers by reporting a massive Rs 1,602 crore in losses in 2008-09, followed by Jet Airways with a loss of Rs 1,032 crore.
Regulator may extend deadline after industry says it lacks Indian commanders
Jindal Power Ltd, a part of Jindal Steel and Power Ltd (JSPL), today said it plans to raise Rs 7,200 crore from its initial public offer (IPO).
The Pension Fund Regulatory Development Authority (PFRDA) is taking ing various measures to increase the number of subscribers under its New Pension Scheme (NPS). It is in discussions with the General Insurance Council, various industry bodies and companies to offer the plan to their employees. Under the recent deal between the Indian Banks’ Association (IBA) and the pension regulator, all new recruits of banks will join the defined contribution system from April 1, 2010. Already 20 nationalised and 12 private sector banks have joined the new system.
It surely took a long time coming, but now that it has, it’s got top clearance from us. Ladies and gentlemen, say hello to our Bike Of The Year 2010 — the Kawasaki Ninja 250R! While there was an impressive list of opponents to the Ninja, none of them could handle going toe-to-toe with the Japanese warrior. And it wasn’t just its bright green colour either. But more on the Ninja later; let’s see who it was up against, shall we?
Heavy-weight motorbike maker Royal Enfield today said it will launch two models by early next year and plans to expand its overall production capacity by over 35 per cent by 2010.
Hamara Bajaj may have walked into the sunset, but the sun is shining bright for other scooter manufacturers in the country.
The global economic slowdown forced corporate India to look largely within the country for merger and acquisitions in 2009, accounting for about 60 per cent of the $10-billion worth of deals.
The government today said though it had amended the central motor vehicles rules in March 2001 for High Security Registration Plates (HSRP), it is primarily the responsibility of states to ensure its implementation.
The issues of land acquisition and ways to remove problems faced by foreign and domestic investors, especially at the implementation stage, are likely to come up at a meeting the Centre will hold with state industry ministers here tomorrow.
The Directorate General of Civil Aviation (DGCA) is planning to set up a separate body called the Civil Aviation Authority of India to lay down the administrative guidelines for the industry.
In a bid to become a $ 50 million within two years, Elitecore Technologies is mulling to take the inorganic route. The Ahmedabad-based company is looking at a Rs 100 crore acquisition in the US or European markets in the network security segment.
Jyoti Parikh & Kirit Parikh / New Delhi November 22, 2009, 0:08 IST
As he prepares to meet President Barack Obama in Washington, Prime Minister Manmohan Singh today said a "sustained and dynamic" Indo-US partnership is essential to meet major global challenges like international terrorism, climate change and economic slowdown.
Viceroy Hotels ended at Rs 54, higher by Rs 1 or 2.6%, on the BSE.
Home appliances manufacturer, Whirlpool India is looking to strengthen its position in the air-conditioner segment and plans to launch smart and affordable range of cooling solutions by February next year, a senior company official said.
India today set the stage for global car giants Toyota, Volkswagen and Honda to unveil to the world their strategy and models for the high-growth small-car market. The platform was the 10th Auto Expo being held in the national capital.
Scientists in the US have developed a rapid and automated swine flu testing method that will enable quick and effective diagnosis decisions.
To dole out Rs 3,000 cr to fertiliser companies; Rs 800 cr to AI
Eyeing the forthcoming Commonwealth Games in India as an opportunity to promote tourism in the state, the Haryana government has decided to introduce a bed-and-breakfast scheme.
fashion designer Wendell Rodricks, in his activist avatar, keeps the goan cause afloat.
The country"s largest steel maker, Steel Authority of India (SAIL), today reported a 32 per cent growth in sales at 1.3 million tonnes in December 2009.
IT firm HCL Infosystems today announced its partnership with global chip maker Intel and state-run telecom operator BSNL to launch low-cost computing devices offering broadband wireless connectivity.
Tata Steel Managing Director H M Nerurkar today said the new year would be equally challenging as last year as the global recession is still continuing.
Agri business was a profit driver, growing 128% to Rs 174.1 cr.
Tata Steel has invested Rs five crore on developing the Dharani Dhar sports complex at Sankarpur in Keonjhar.
The Telecom Regulatory Authority of India (Trai) has urged the government to consult it before deciding on a uniform license fee for operators, saying it has implications on the Centre’s revenue, as well as on service providers.
Wiser from last year’s free fall, realty companies discovered a new mantra in ‘affordable housing’ and found help from banks that offered low-interest home loans to build their businesses in 2009.
Vinay Varshney, as he predicts the end of CFL lamps in a few years, points to the ceiling of the conference room at Maruti Suzuki’s factory in Gurgaon. It is then that we notice that the two holders, right above the two ends of the long table, have slots for three lamps, but only two are glowing.
Auto makers Maruti Suzuki, Hyundai and Hero Honda today reported robust sales in November, lending optimism that the good economic showing in the second quarter would continue.
A new sports bar in NCR is a nice hangout place but not meant for genuine fans
Finnish mobile phone maker Nokia today reported a 66 per cent decline in profit at euro 380 million for the second quarter of this year, mainly on account of falling sales in the wake of the global economic slowdown.
The Planning Commission today called for a "bold and clear" disinvestment programme that would help in meeting the resource gap for the plan expenditure in the next two years.
Tata Steel plunged over 4% to settle at Rs 443. The counter saw trades of around 4.80 million shares against its two-week average quantity of 4.15 million shares.
In order to check price escalation in pulses, Gujarat government has imposed stock limit on pulses. As per the notification issued last week, the stock limit for whole-sellers is 100 tonnes and for retailer it is 50 tonnes.
Finance Minister Pranab Mukherjee today expressed optimism that it would be possible to clock over six per cent growth rate in the current fiscal and said there is no scope for anxiety in pursuing reforms in financial sector and disinvestment.
Despite the economic recovery, the government"s direct tax collections increased by a marginal 3.7 per cent to Rs 1.83 lakh in the first eight months of this fiscal compared to the same period a year ago.
The Sensex has slipped once again into the red and is now down 70 points at 16,780. The Nifty is down 33 points at 4,971.
Ajay Modi / New Delhi September 17, 2009, 0:39 IST
Prospect of the cos continuing their excellent performance attracts investors.
Kolkata-based Balrampur Chini Mills profit after tax for fourth quarter ending September 30, 2009 improved 193 per cent at Rs 42.7 crore from Rs 14.58 crore in the fourth-quarter last year. Net sales dropped to Rs 379.96 versus Rs 416.73 crore in the corresponding quarter in the preceding year. Earnings per share gained 192.7 per cent at Rs 1.67 as against 57 paise in the year ago quarter.
Balrampur Chini Mills, one of the leading sugar producers of the country, has posted a rise of 193 per cent in its net profit at Rs 42.73 crore for the quarter ended September compared with Rs 14.58 crore in the corresponding quarter last year. The company"s net sales during the quarter, however, decreased around 8 per cent to Rs 378.9 crore from Rs 411.72 crore.
GlobalLogic, a software product development services provider, today said it is likely to list the firm on the bourses in the next 18 months.
China"s top 500 companies outperformed their US counterparts for the first time last year, a survey conducted by a business group has revealed, as the financial crisis wreaked havoc in the United States.
The stock touched a high of Rs 233 and finally settled 4% higher at Rs 228. The counter clocked volumes of 1.93 million shares on the BSE.
FII attitude may be key.
The condition of Marxist patriarch Jyoti Basu, who is battling pneumonia, remained critical today with doctors putting him back on full ventilation.
IVRCL has announced a restructuring of its subsidiaries recently. The scheme proposes an amalgamation of IVR strategic resources and IVR Water Infrastructure, which are both wholly owned subsidiaries of IVRCL with IVR Prime urban developers, its real estate arm, where it has a 62.35% stake.
IDBI Bank has taken an initiative to strengthen its base in the mid-corporate, SME and retail sectors without compromising its pre-eminent position in the corporate banking business.
Public sector Indian Overseas Bank today said it will raise an amount totalling to Rs 800 crore by issue of bonds on private placement basis.
The government may selectively extend more sops to exporters rather than withdrawing the stimulus given to them last year in the face of global slowdown, Commerce and Industry Minister Anand Sharma has said.
Indian Overseas Bank (IOB) has reported a 17.90 per cent increase in the net profit for quarter ended June 30, 2009 at Rs 301.78 crore as compared to Rs 255.97 crore, during the same quarter a year ago. Bank"s total income rose to Rs 2,808.51 crore from Rs 2,186.83 crore, an increase of 28.43 per cent.
The rift in the ruling BJP in Karnataka widened further today with the two Reddy brothers, who are ministers in the state cabinet, intensifying their efforts to make chief minister B S Yeddyurappa yield to their pressures.
State-run power producer NTPC today said it has entered into an agreement with the Madhya Pradesh government and MP Power Trading Company for setting up a 2,640 MW thermal power plant in the Narsinghpur district of the state.
PROFILE
I have invested Rs 1 lakh in Reliance Diversified Power Sector Fund. Its value has come down to Rs 74,000. What is the future outlook of this fund? Should I stay invested or redeem?
My broker has advised me to invest a lumpsum amount in a Monthly Income Plan (MIP). In the current scenario where interest rates are expected to rise, should I do so? Also, should I invest in more than one MIP for diversification?
Significant inflows into income plans and liquid funds boosted net assets of domestic mutual funds in July, according to data posted by Securities and Exchange Board of India (Sebi) on its website.
Trades between FIIs generated a volume of Rs 38 crore on the BSE Tuesday-an decrease of 38.84% from Rs 62 crore clocked on Monday. As many as six stocks witnessed trades of 7.71 lakh shares on Tuesday.
The transport drivers’ strike in the Talcher coalfield under the Mahanadi Coalfield Ltd (MCL) has severely hit dispatch of coal to power plants of NTPC and National Aluminium Company (Nalco) in the area among others.
The government has asked the Serious Fraud Investigation Office (SFIO) to discontinue its enquiry into the siphoning of funds by Satyam Computer to avoid duplication of work as the CBI is trailing the funds parked abroad by the IT company.
The stock of Infosys Technologies rose nearly 2 per cent to close at Rs 2,235, a level not reached in over two years.
India Inc today saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10.
A spike in inflation numbers took its toll on stock indices as both Sensex and Nifty closed in the red. The Sensex fell 21 points to close at 17,097 and the Nifty was down by 11 points at 5,105. FMCG, banking and consumer durables sectors were among the weak links.
Here is our take on 10 market trends to watch out for in 2010.
Amid the economic downturn impacting companies worldwide, India Inc remains cautiously optimistic with just 16 per cent firms freezing salaries and as low as 6 per cent reducing pays for 2009-10, a survey by HR consultancy Hewitt Associates says.
The markets are trading in the positive zone as global markets have improved on news of easing Dubai fears. Abu Dhabi has lent $10 billion to Dubai as emergency funds.
The government today said the pledge to cut 20-25 per cent emissions intensity by 2020, which is equivalent to the 2005 level, is a voluntary domestic commitment and not globally binding, the Rajya Sabha was informed today.
A Parliamentary panel today pulled up the Finance Ministry for its failure to take timely action to contain inflation and asked the government to take immediate steps to provide relief to common man reeling under rising food prices.
A mid-year review of the economy by the government today stressed the need for urgent action to contain the rising prices of food articles, hitting the common man hard.
The advance tax collection from India Inc rose 20 per cent during the first nine months of the current fiscal compared to the same period last year, with automobiles, consumer goods and metals leading the pack.
Car maker Honda Siel Cars India today said it has entered into a Memorandum of Understanding with private lender Axis Bank for vehicle finance.
Cabinet Secretary K M Chandrasekhar will chair a meeting of senior government officials here on October 13 and seek their inputs on the draft direct tax code, meant to overhaul the country"s tax regime.
Shree Renuka Sugars ended at Rs 229, up by Rs 7 or 3.3%, on the BSE. Over 4.07 lakh shares have changed hands at the counter. The stock hit a high of Rs 230 and a low of Rs 223 during the day.
The Sensex has ended (provisional) at 17,562 - up 97 points.
The Dow Jones Industrial Average ended flat at 10,466 and the Nasdaq Composite Index added 0.75% to 2,270, respectively.
In its first overseas venture, Cairn India has begun work on an exploration block in the Mannar Basin, off Sri Lanka.
The much awaited Headends in the Sky (HITS) policy cleared by the Union Cabinet today would not only enable a digital delivery platform for cable operators, but will also result in reduction in subscription rates as competition will increase in the distribution sector.
When the West Bengal government intervened by setting up Operating Managing Committees (OMCs) of workers in closed and sick tea gardens in the state, it was done to also alleviate the basic problems of the workers’ families. But this seems to have only given rise, as reported in the earlier parts of this series, to a section which makes money by exploiting other workers in collusion with local contractors. There is little evidence of any intervention, either by the district administration or political bigwigs, to curb this.
Haryana Cooperation Minister Paramvir Singh said that the central cooperative banks in the state would provide a loan of Rs 8,600 crore during the current financial year to the farmers. These banks had provided loans worth Rs 4,306.60 crore during the last financial year to the farmers under various schemes.
Mangala (meaning bliss) has lived up to its name for Cairn India. Five years earlier, the company struck black gold at the RJ-ON-90/1 oil block deep inside the stark, unforgiving wilderness of the Rajasthan deserts.
In a bid to remove "fly-by-night" players who import electric two wheelers unlike the domestic ones, members of the Society of Manufacturers of Electric Vehicles (SMEV) are seeking stringent norms to be levied for low speed two wheeler electric vehicles from Automotive Research Association of India (ARAI).
Jeera future prices are likely to firm up in January as there is a possibility for renewed export demand in the market. The demand from overseas market is expected from first week of January 2010 and this may support the price to strengthen.
With global oil rates stabilising at around $70-80, Reliance Industries, Essar Oil and Royal Dutch/Shell today joined the chorus for freeing petrol and diesel prices to give private sector a level playing field as also lower government"s subsidy burden.
As Delhi races against time to complete all unfinished tasks ahead of the 2010 Commonwealth Games, it faces a daunting work of inculcating civic sense among Delhiites, generally known for being rude and inhospitable.
Sports Minister M S Gill had to face some tough questioning by his cabinet colleagues today as he sought additional funds for Commonwealth Games (CWG) preparation.
The markets struck positive notes at the beginning of the year with the benchmark indices touching their fresh 22-month highs. The Sensex scaled a high of 17,790, but eventually ended with a marginal gain of 75 points at 17,540 this week. Mid- and small-caps outperformed the benchmark with significant gains of 3.4 per cent and 4 per cent, respectively.
Andhra Pradesh will soon evolve a policy to encourage the solar energy industry. This will complement the to-be- announced Jawaharlal Nehru National Solar Mission, a dedicated national policy for solar energy that outlines 20 giga watt of solar generation by 2020, said chief minister K Rosaiah.
Haryana Cooperation Minister Paramvir Singh said that the central cooperative banks in the state would provide a loan of Rs 8,600 crore during the current financial year to the farmers. These banks had provided loans worth Rs 4,306.60 crore during the last financial year to the farmers under various schemes.
The Nifty closed around 4,800 on Friday on short-covering by foreign institutional investors (FIIs) and strong global cues. However, the trading pattern on the F&O segment suggests that the index may face strong resistance above the 4,800 level. Technically, the Nifty has to cross its Friday high of 4,835 to keep its bullish momentum. If the index slips below its Friday low of 4,755, it may revisit the recent low next week. The SGX Nifty (November futures) closed at 4,767 as against its Friday close of 4,797 indicating weak opening on Monday.
Markets can now be open 9 to 5, says regulator.
After an initial slide, the Sensex turned volatile on the back of mixed cues from the Asian markets. The index gained strength and touched a high of 16,910 - up 243 points from the day"s low of 16,667.
The stock ended flat at Rs 410 and clocked volumes of 201,186 shares at the counter on the BSE. __________________________________
The Sensex has ended (provisional) at 16,844 - up 148 points. The Nifty ended (provisional) at 4,997 - up 44 points.
Is the Doha Development Round (DDR) dead, as the anti-globalisation activists claim? Not yet, said trade ministers of the 153 member-countries of the Word Trade Organisation at the seventh Ministerial Conference at Geneva last week. They ended the Conference with a general agreement to recommence the stalled negotiations of the DDR and take it to conclusion by the end of next year. Even such broad agreement was in sharp contrast to the acrimony and bitterness that characterised the earlier failed trade talks at Cancun and Hong Kong.
The Indian economy may grow by 9 per cent in the next fiscal on the back of strong industrial growth and rising domestic consumption, global consultant Ernst and Young today said.
Satyam Computer Services Ltd (SCSL) founder, B Ramalinga Raju, his brothers and their spouses have acquired 1,065 properties with a registered value of Rs 350 crore.
Resolving the issue of fuel supply guarantee to upcoming gas-based power projects, the petroleum ministry has asked state-run GAIL India to extend "comfort letters" assuring gas supplies so that developers can raise finances.
The government could be among the least active investors in the stock markets, but it appears to have come out the winner in terms of returns--its equity portfolio appreciated by about Rs 10 crore in every minute of trade in 2009 resulting in a total gain of Rs 6,50,000 crore.
Dish TV’s new campaign presents Shahrukh in a new avatar to take on Tata Sky’s Aamir
We call it Nano, they don’t have to, says Vice-Chairman Ravi Kant
Latha Jishnu / New Delhi October 31, 2009, 0:16 IST
Bollywood actor Aamir Khan and actress Katrina Kaif are the most downloaded celebrities by Indian mobiles users, a new survey says.
Imagine walking into a washroom at one of the multiplexes and being welcomed with a message that terms you “the Fourth Idiot”. Don’t feel offended as you are just watching the promotion of 3Idiots, an Aamir Kan-starrer to be released this Friday.
It’s a comeback of sorts for Bollywood’s Big B, not just for his path-breaking performance as a 13-year old boy, Auro, but as a producer.
Imagine you are having dinner with some friends, and in walks Shahrukh Khan or someone equally famous. You get a picture clicked with him and want to share it with the world instantly. But how do you go about it since you can’t possibly wait till you get home and transfer the pictures to home PC.
Parle"s looking to bite into Britannia"s Bourbon biscuit market.
Uttar Pradesh today organised an investors’ conclave in Mumbai, ‘Invest UP’, to promote ‘Brand UP’ before top industrialists and business houses of the country.
Prime Minister Manmohan Singh today said economic reforms have helped reduce poverty in the country but admitted the rate of decline should have been faster.
Engineering and construction major L&T and Nuclear Power Corporation of India Ltd (NPCIL) today announced the formation of a joint venture to produce critical components for nuclear power plants such as special steels and ultra-heavy forgings.
Citigroup Inc and Bank of America Corp paid top executives an average of $18.2 million each last year as the banks accepted $90 billion of bailout funds, records from Treasury Department paymaster Kenneth Feinberg show. Citigroup paid $390.2 million to 21 people, an average of $18.6 million each, the records released on October 22 show.
Why would the government want to rush through a badly drafted law, full of ambiguities? This is the question worrying R. Sreedhar, director of the Academy of Mountain Environics, a well-known trust promoting sustainable development solutions, about the National Green Tribunal Bill, 2009.
The World Bank has said it has barred a Russian subsidiary of Germany"s Siemens from participating in bank projects for four years, citing evidence of fraud and corruption.
Union finance minister Pranab Mukherjee today said that construction on coal bearing areas should not be a problem, allaying apprehensions from the state government over Coal India’s objections on having industrial projects in the Asansol-Durgapur belt of Bardhaman district.
Watch out! The next time you buy your baby a cough syrup or get yourself any medication, make sure to get a proper bill else you could fall prey to the multi-crore clandestine business of spurious, misbranded and adulterated drugs.
Infosys BPO Ltd, the business process outsourcing (BPO) operation of Infosys Technologies, is looking at raising its headcount in the Americas through inorganic growth. The company is understood to be scouting for a strategic acquisition in the $40-60 million range either in Canada or the US, according to industry sources.
HCL Technologies has emerged as the best managed entity in the list of top 50 global outsourcing vendors for 2009 compiled by the Black Book of Outsourcing, which also features atleast eight other Indian IT services firms.
Hinting that a nexus between private and state-owned vaccine companies could have led to gradual decline in production capacity of state-owned units, the government today said the matter required in depth probe.
Watch out! The next time you buy your baby a cough syrup or get yourself any medication, make sure to get a proper bill else you could fall prey to the multi-crore clandestine business of spurious, misbranded and adulterated drugs.
Zandu Pharmaceutical Works, the manufacturer of ayurvedic health care products, today reported a growth of over twofold in its net profit for the quarter ended June at Rs 11.12 crore, over the corresponding period a year ago.
Hinting that a nexus between private and state-owned vaccine companies could have led to gradual decline in production capacity of state-owned units, the government today said the matter required in depth probe.
Airtel DTH seeks to break out of the clutter in the direct-to-home service space by banking on a Bollywood-like plot
- Devangshu Datta: Getting that EDGE">Devangshu Datta: Getting that EDGE - Devangshu Datta: Intimations of immortality">Devangshu Datta: Intimations of immortality - Devangshu Datta: Dropping a bomb">Devangshu Datta: Dropping a bomb - Devangshu Datta: Brave new world (contd)">Devangshu Datta: Brave new world (contd) - desi-version/10/32/367045/" class="textMost" title="Devangshu Datta: Google Earth's desi version">Devangshu Datta: Google Earth's desi version - Devangshu Datta: Search for market share">Devangshu Datta: Search for market share
The state-owned telecom major Bharat Sanchar Nigam (BSNL) has extended the deadline till January 4 for submitting bids to provide interactive value added services.
Religare aims to become one of the top financial services companies globally, and in double-quick time.
The Comptroller and Auditor General has termed as "unwise" the crores of rupees spent on the upgradation and extension of the airstrip in Safai, the native village of Mulayam Singh Yadav, during his tenure as Chief Minister of Uttar Pradesh.
The broader indices opened higher for the first two days. Since then, index stocks struck to a narrow range as investors preferred to wait for the December quarter results. Nevertheless, markets ended the week at a 22-month high with the Sensex ending nearly flat and Nifty gaining 13 points or 0.8 per cent to 5,245.
Insulin prices are likely to fall by up to 70 per cent as drug price regulator the National Pharmaceutical Pricing Authority (NPPA) has brought some more diabetes drugs under its purview.
The foreign institutional investors (FIIs) were net buyers of Rs 490.23 crore in futures and options segments on Friday.