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“Adani will be bidding for 5G but I think it is a little premature to look at them. They are not a consumer company per se. They have not built a consumer internet or a telecom company or the kind of business that something like that requires in the past and which Reliance had done. The problem really lies with the Vodafone-Idea and not really with the Bharti or Reliance, both of whom have relatively stronger balance sheets.”

China aims to build a total of 461,000 kilometres (286,452 miles) of national highway by 2035, compared with 382,000 kilometres by the end of 2021, as authorities are doubling down on an infrastructure push, which means more metals consumption.

On the technical charts, the 200-day moving average of the stock stood at Rs 420.82.

A long favourite of both value investors and those with a bias towards high dividend-yielding stocks, ITC is still shunned by ESG funds as it earns around 80 per cent of its profit from cigarettes, which are known to cause cancer.

A total of 21,774 shares changed hands on the counter till 10:56AM (IST)

Gold futures on MCX were trading flat, gaining merely 0.06 per cent or Rs 31 at Rs 50,675 per 10 grams. However, silver futures traded lower by 0.30 per cent or Rs 172 at Rs 56,753 per kg.

The Nifty Pharma index was trading 0.3 per cent down at 12526.9.

Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6275.95 Crore) operating in Real Estate sector.

The stock quoted a 52-week high of Rs 512.05 and a 52-week low of Rs 312.05.

Shares of Steel Exchange India will go ex-split today. The company had announced the splitting of shares into face value of Re 1 from the face value of Rs 10. The board of HCL Tech will meet today to consider the 2nd interim dividend. Pioneer Embroideries and Alka Securities will have their annual general meetings (AGM) today.