The market continued to trade higher with the Sensex rising more than 100 points and was trading above the 33,000 levels. Investors looked for cues from the two-day US Federal Reserve meeting beginning later in the day.
Technology, Tata Group and select banking & financial stocks supported the market.
Cipla recovered from day's low after the company clarified saying certain observations issued by the USFDA during product specific pre-approval inspection of Goa unit are procedural in nature.
Videocon Industries has sold its entire equity stake in Liberty Videocon General Insurance Company Limited (Liberty Videocon), an insurance joint venture company promoted by Videocon Industries Limited and Liberty Mutual Insurance Group.
The company was holding 51.32 percent of the share capital of Liberty Videocon, which has been sold to the extent of 26 percent to Diamond Dealtrade Limited (a DP Jindal Group Company) & the remaining 25.32 percent, to Enam Securities Private Limited.
All the necessary regulatory approvals for the said sale were already received. Post the said divestment, the company ceases to be the Indian promoter of Liberty Videocon.
Accordingly, the name of Liberty Videocon will also change to Liberty General Insurance Company Limited or such other name as may be approved by the regulatory authorities.
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