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Telecom operators have also cautioned that any move to test and certify all 5G smartphones at accredited local labs would also hinder India’s ambitions of becoming a global handset manufacturing base.

Adani Transmission soared 37 per cent this year after zooming 295.89 per cent last year. This is even as the company reported a 40 per cent drop in December quarter profit. Key brokerages do not track this stock.

Ravi Singh, Vice President and Head of Research, ShareIndia said that after the Fed rate hike, investors are now profit booking and covering their positions in gold and could be diverting their investments from gold instruments to equity.

"Asia is probably more focused on a Reuters report that Europe is mulling an oil embargo on Russian oil. I’m not sure how that would work, to be honest. Oil is one asset class that is moving today because of that in energy-hungry Asia," said Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA.

The work order involves comprehensive design, engineering and project management consultant (PMC) services for various works. The estimated cost of the project is Rs 500 crore.

The partially convertible rupee opened at 76.0290/$1 as against 75.7950/$1 at the previous close. The Indian currency, which was last at 76.0140/$1, moved in a band of 76.0140-76.0950/$1 so far in the day. The domestic currency had strengthened to a two-week high against the US dollar on Thursday as the US Federal Reserve’s policy statement did not throw up any shocks for markets globally.

The Hyderabad-based dairy company said it has acquired Karnataka-based Sri Krishna Milks for Rs 50 crore to expand its business. The deal, executed in the form of cash, will conclude in two months. Krishna Milks Pvt Ltd (SKMPL), incorporated in 1989, was the first private sector dairy company in Karnataka. It is mainly into procuring milk, manufacturing, and selling dairy products. Its turnover in 2020-21 was Rs 67.27 crore.

The ongoing war between Russia and Ukraine has exacerbated the situation for FMCG makers as they expect a rise in the prices of wheat, edible oil and crude. Companies such as Dabur and Parle are watching the situation and will undertake calibrated price increases to mitigate the inflationary pressures, reports said.

LIC IPO, which may rake in around Rs 60,000 crore for the government, was initially scheduled for the second week of March.

Mumbai-based pharmaceutical company Themis Medicare’s anti-viral drug Viralex has received Drugs Controller General of India’s (DCGI) approval, the company informed the stock exchange on Monday.