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Benchmark Indian indices closed marginally higher in a volatile trading session, aided by gains in metal, FMCG and energy stocks. The Sensex closed 0.09% up at 58305.07 and Nifty inched up 0.09% to 17369.25.
Indian rupee gained 11 paise to 73.50 agains the US dollar.
Among Nifty sectoral indices, Metal (0.78%), FMCG (0.78%) and Energy (0.68%) were top gainers. Realty (-0.74%), Bank (-0.23%) and Pharma (-0.14%) were the big losers.
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Future Retail & Reliance Industries: The Supreme Court has stayed all the proceedings before the Delhi High Court for four weeks with respect to the implementation of an award by Singapore’s Emergency Arbitrator (EA) restraining Future Retail from going ahead its Rs 24,731 crore merger deal with Reliance Retail, the retail arm of Reliance Industries. A bench headed by Chief Justice N V Ramana, also directed the statutory authorities like National Company Law Tribunal , Competition Commission of India and market regulator SEBI not to pass any final order related to the merger deal for next four weeks.
Tata Consultancy Services: The IT services major has signed a pact with Transport for London to design, implement and operate a new smart mobility system that will reimagine the administration of taxi and private hire vehicles in London. The contract is valid for 10 years and it is likely to be extended by another a five year. TCS will digitally transform taxi and private hire licensing and administration, and this deal will impact 115,000 taxis and private hire vehicles.
Reliance Infrastructure: The company has won a four-year court case for control of money from an arbitration award. A two-judge panel of the Supreme Court upheld the 2017 arbitration award in favour of the company and dismissed a plea by DMRC. The arbitration tribunal award is worth over Rs 4600 crore including interest, according to the company’s annual report.
Tata Power: The company and real estate developer Lodha Group will provide electric vehicle charging infrastructure at its residential and commercial projects. Under this partnership, Tata Power will install EV Charging stations at Lodha projects across MMR and Pune. These chargers will be accessible to all Lodha residents and visitors who are EV owners.
Zydus Cadila: The drugmaker got an approval from the US health regulator FDA to market Brexpiprazole tablets, used for the treatment of schizophrenia, in the American market. The company noted that it would manufacture the drug at its manufacturing facility at the SEZ, Ahmedabad.