Future Retail, ITC, Biocon, Bank of Baroda
New Delhi: Domestic stock markets are expected to trade in the red on Wednesday, taking cues from global markets. Asian stocks traded lower, with Japan’s Nikkei falling 0.49%, South Korea’s KOSPI 0.86% and Hong Kong’s Hang Seng 0.42%. The trends on SGX Nifty also indicated a negative opening for the home markets. The Nifty Futures on Singapore Exchange, also known as SGX Nifty Futures, lost 0.22% or 40.20 points to 17,937.80.
The benchmark BSE Sensex had finished 396.34 points or 0.65% lower at 60,322.37 on Tuesday; while the larger NSE Nifty had plunged 110.25 points or 0.61% to settle at 17,999.20.
Here are the actions to watch for during today’s session:
Future retail: The Delhi High Court ruled on Tuesday that the Indian Competition Commission (ICC) has two weeks to decide whether Amazon misled authorities while seeking approval of a 2019 deal with Future Group, said a group of Indian retailers.
Biocon: Biocon Biologics and its US partner Viatris Inc have announced the introduction of two interchangeable biosimilar insulin injections on the US market. Biocon Biologics and Viatris Inc have launched Semglee Injection (insulin glargine-yfgn), a brand name product, and Insulin Glargine Injection (insulin glargine-yfgn), a non-branded product, to help control the hyperglycemia in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.
CTI: ITC Hotels luxury brand Mementos has signed a new property in Jaipur, days after signing for its first property in Udaipur, Rajasthan.
Bank of Baroda: BOB Financial Solutions, a subsidiary of Bank of Baroda (BoB), announced on Tuesday that it has partnered with National Payments Corp. of India (NPCI) to launch BoB credit cards on the RuPay platform. The Easy and Premier variants of BoB credit cards have been launched on the JCB International network and both cards support worldwide acceptance.
IEX: Indian Energy Exchange (IEX) has set December 6 as the registration date in order to determine the eligibility of shareholders entitled to issue free shares. The board of directors of the company recommended a free issuance of equity shares in the proportion of 2: 1.
In addition, aviation stocks will be the focus of attention as the Ministry of Civil Aviation has authorized the resumption of meal and reading services on all domestic flights. Since the start of the pandemic, the two services have only been restricted for flights lasting more than two hours.