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Sensex, Nifty indices closed lower as losses in banking stocks and Oil & Gas stocks weighed on headline indices in a volatile session. The Sensex fell 0.28% and the Nifty index lost 0.17%.
Broader markets outperformed benchmark equity indices. The Nifty Midcap 100 rose 0.2% and the BSE Smallcap jumped 0.36%.
Top losers among Nifty sectoral indices were PSU Bank [-2.39%], Bank [-1.31%], Private Bank [-1.3%], Oil & Gas [-1.11%], and Financial Services [-0.9%]. Top gainers were Pharma [0.98%], FMCG [0.86%], Auto [0.69%], Realty [0.49%], and Metal [0.17%].
The Indian rupee fell 2 paise to 83.27 against the US dollar on Friday.
Stock in News Today
Kotak Mahindra Bank: The lender’s board has appointed Ashok Vaswani as a Director and Managing Director as well as CEO and a key managerial personnel of the bank, for a period of three years, with effect from January 1, 2024, subject to the approval of the members of the bank. Vaswani, 62, has an experience of three and a half decades, initially at Citigroup and thereafter, at Barclays, of building and growing global businesses at scale.
Brigade Group: The company has signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop around 2 million square feet of residential housing in Bengaluru with a Gross Development Value (GDV) of Rs 2,100 crores. The project is located in Yelahanka in North Bengaluru and spread over 14 acres.
Dish TV India: The promoters of the company, the Goel family of the Essel group, have signed a settlement with the JC Flowers Asset Reconstruction Company for Rs 1,500 crore, Business Standard reported citing sources. As part of the settlement, JC Flowers ARC, which owns a 26% stake in Dish TV India, will return the shares to the Goel family, which were earlier acquired by Yes Bank following a default, the news report said. Subsequently, the company in an exchange filing said that it is neither aware of nor privy to the negotiations which have been referred in the news report.
Lupin: The drugmaker has received the approval from the USFDA for its Abbreviated New Drug Application for Ganirelix Acetate Injection, 250 mcg/0.5 mL Single-Dose Prefilled Syringe. With this approval, the company can market a generic equivalent to the reference listed drug, of Ganirelix Acetate Injection, 250 mcg/0.5 mL of Organon USA LLC. The product will be manufactured at Lupin’s Nagpur facility in India. Ganirelix Acetate Injection had estimated annual sales of $84 million in the US, according to IQVIA MAT September 2023.
Airtel: The telecom company said that its 5G service is available across all district in Gujarat, Karnataka, Odisha, Punjab and Tamil Nadu. The company has over 5.1 million unique 5G customers in Karnataka and more than 4.2 million unique 5G customers in Tamil Nadu, according to its exchange filing.
Bank of Baroda: The lender said it has scheduled a meeting of the Capital Raising Committee on November 18, 2023, to discuss and finalise the issuance of Tier I and Tier II debt capital instruments and long-term bonds for the financing of infrastructure and affordable housing within the board-approved capital raising plan.