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Vi and Airtel’s net debt stood at Rs 1.96 lakh crore and Rs 1.6 lakh crore respectively in the quarter ended March, FY22, while Jio’s net debt was at lower Rs 57,700 crore in the June quarter, FY23. Airtel and Vi are yet to report fiscal first quarter earnings.

Adani Green, Siemens, Indus Towers, Bosch, Godrej Properties, Voltas, Deepak Nitrite, Thermax, Bank of India, Brigade Enterprises, Saregama and Shyam Metalik are among the companies that will announce their earnings for the quarter ended June 2022.

Shares of Clean Science (Rs 3.25 per share), Navneet Education (Rs 1.5 per share), The Anup Engineering (Rs 8 per share), Vinyl Chemicals (Rs 5 per share), Emkay Global (Rs 1.25 per share), IP Rings (Rs 2 per share), TCFC Finance (Rs 1.2 per share) and Sayaji Industries (Re 1 per share) had announced final dividends. The stocks went ex-dividend on Friday.

Costs could come down by as much as $50 a kilogram initially, people familiar with the matter told ET, as the Bullion Exchange (IIBX) at GIFT City becomes the favoured platform for gold consignments in a country where the yellow metal has beaten all competing asset classes as the traditional store of value.

Adani Power and the state-run NTPC are among the nearly two-dozen bidders interested in buying the bankrupt SKS Power Generation located in Chhattisgarh, people familiar with the matter told ET.

After 40 rounds over seven straight days, market leader Jio acquired 24,740 MHz of 5G airwaves - which can offer mobile internet speeds 10 times faster than 4G - worth a whopping ₹88,078 crore, contributing nearly 59% to the central kitty.

The finance minister said all indicators showed that India was doing better than others, citing the latest goods and services tax (GST) collections, which rose 28% to Rs 1.49 lakh crore,

"There is no sign of any tiredness in the market at the highs. The near-term upside target to be watched is 17,800 and immediate support is placed at 17,150," said Nagaraj Shetti, technical research analyst at HDFC Securities.

The conglomerate believes prospects of economic recovery and pick-up in consumption are expected soon, thanks to a favourable monsoon, recent moderation in prices of key commodities and proactive interventions by the government and RBI.

The price drops also come as market participants await the outcome of a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide on September output.