NEWS CORNER
1.
Reliance Communications (RCom)
rose 13 per cent to Rs 14.40 on the National Stock Exchange (NSE) on Friday
after the Supreme Court asked RCom to furnish a corporate guarantee of Rs 14
billion within two days to get the No Objection Certificate (NOC) from the
government. The corporate guarantee will be issued by Reliance Realty Ltd, a
wholly-owned subsidiary of RCom.
2.
The Nifty Pharma index rose 2 per
cent led by a rise in shares of Biocon and Dr. Reddy's Laboratories. The Nifty
IT index gained 1.2 per cent led by Infosys and Tata Consultancy Services
(TCS).
3.
YES Bank ended 6.3 per cent
higher at Rs 170.50 after a TV report said that the private bank's promotor
Rana Kapoor doesn’t have any ownership in Morgan Credits or Yes Capital.
4.
Shares of Vodafone Idea dipped 6%
to Rs 35.60 per share on the BSE after the rating agency CRISIL downgraded its
rating on non-convertible debentures (NCD) of Rs 60 billion.
5.
Shares of real estate companies
are in focus, with Nifty Realty index gaining 2% on Friday, on hopes that
liquidity may ease in the coming days after the Reserve Bank of India (RBI) on
Thursday relaxed rules for non-banking financial companies (NBFCs).
6.
Shares of Dr Reddy’s Laboratories
hit a 52-week high of Rs 2,700, up 2%, extending its previous day’s 3% gain on
the BSE. The stock surpassed its previous high of Rs 2,687 recorded on
September 28 in intra-day trade.
7.
Shares of United Spirits (USL)
hit a five-month high of Rs 675, up 6% on BSE in an otherwise range-bound
market, on the expectations of higher volume growth in the current quarter. The
stock was trading at its highest level since June 28, 2018.
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