Except for the metal and pharma sectors, all other sectoral indices ended in the green. The auto, banking, and capital goods sectors each saw a 2% increase.
The Insurance Regulatory and Development Authority of India (IRDAI) has notified new product regulations that include guidelines for revised guaranteed surrender value (GSV) of life insurance policies.
Indian equity benchmarks were trading lower in early deals today. The 30-share BSE Sensex pack fell 537 points to 66,263, while the NSE Nifty lost 148 points to 19,753.
Torrent Pharma is reportedly in talks to form a consortium and raise $1.2-1.5 billion from CVC Capital Partners as it is looking to put together a $7 billion or Rs 60,000 crore financing package to acquire rival Cipla. CVC could turn out to be Torrent’s lead partner. The development has not yet been confirmed by the group.
Top stocks of the week: Bulls continued their dominance at Dalal Street as benchmark indices managed to settle higher for another trading session on Friday. Watch this Visual Story to check top stocks of the week.