The founders of NDTV, Radhika Roy and Prannoy Roy, will transfer 27.26% of their stake in the company to Adani Group-owned RRPR Holding. Consequently, Adani Group will hold 64.71% stake in the news broadcaster.

Shares of Ajanta Pharma (Rs 7 per share), GMM Pfaudler (Re 1 per share), Siyaram Silk (Rs 4 per share) and Nikko Parks (Re 0.4 per share) will trade ex-dividend. Shares of GPT Infraprojects will trade ex-bonus in respect of the bonus share issue in the ratio of 1:1.

Nifty established a bearish Harami candle on the daily charts as it closed below its 200-day moving average (DMA). For Nifty traders, analysts suggested, 17,050 would be the key resistance level.

Stocks such as Divi's Laboratories, Ipca, Dr Reddy's, Cipla, and Alkem Laboratories have gained between 2% and 4% in the past week. The sector was in a consolidation phase in the past year due to a decline in business growth post-Covid, and valuations dropped about a fifth.

"The IT sector has been under pressure since the start of April and is down by 25% whereas Nifty50 is up 3% in the same period. Nifty IT index has minor support near 27,300 levels followed by 26,200 where it made a double bottom in June and July."

Biological drugs are harvested from living organisms or certain components of living organisms. These drugs are very specific and highly effective as they are made inside or with the use of living cells. These help to cure complex diseases such as cancer and rheumatoid arthritis.

Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation Of India, Samvardhana Motherson International, Delhivery, Torrent Power, Whirlpool Of India and National Aluminium Company are among companies that will announce their quarterly earnings today.

In the Sensex pack, the majority of the stocks were in the green, with Ultratech Cement leading, up nearly 2 per cent. Airtel, L&T, SBI and Wipro were among the top gainers. Meanwhile, index heavyweight RIL was the worst performer. Maruti Suzuki, TechM and IndusInd Bank were other losers, down less than a per cent each.

Shares of Add-Shop E-Retail and KCL Infra Projects will turn ex-rights today. Add-Shop E-Retail had announced a rights issue of 1 share for every 1 share held, offered at Rs 54 apiece while KCL Infra Projects had announced a rights issue of 9 shares for every 1 share held, offered at Rs 2 apiece.

Nifty50 on Thursday settled almost flat, but snapped a six day winning run. The index ended up forming a small bearish candle on the daily chart, with a long lower wick. Analysts said the index turned sideways after the recent rally and expect it to find support around 17,200 level.

Titan, M&M, Nykaa Paytm, Alkem Labs, Petronet LNG, NMDC, AB Fashion, Motherson Sumi Wiring, Fortis Healthcare, Pfizer, IRB Infra and UCO Bank are among the companies that will announce their earnings for the quarter ended June 2022.

Giving charge to a young generation, even if they are not completely ready, is now becoming a common trend. Organisations are placing big bets on young candidates who have the potential for senior roles, even if they arent 100% ready.

On the outlook for the domestic business, Alkem Laboratories said, "With easing out of COVID-19 restrictions, resumption of travel, normalisation of supply chain and manufacturing activities, reopening of schools and offices, and a resumption of deferred elective medical treatments, the Indian pharmaceutical industry is expected to rebound to a normalised growth rate of 8-11 per cent."

It was alleged that IIFL Wealth Management and IIFL Securities Ltd knowingly manipulated the reference price of Alkem Laboratories for a block deal. Sebi had conducted an examination of block deals to check any manipulation of reference price considered for execution of block deal trades in the scrip of Alkem Laboratories for the period April to September 2019.

The Nifty Pharma index closed 1.32 per cent down at 11939.05.

“There is no visibility of a timeline as to when the current crisis around inflation and the Ukraine war will end. There are too many unanswered questions and in such times, it is better to not to have a cowboy attitude and just be on the safer side and take defensive positions and create as much cash as and when you have an opportunity to do so.”

Alkem Laboratories Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 33880.54 Crore) operating in Pharmaceuticals sector.