RRVL, a unit of Reliance Industries, agreed to buy the retail assets of Future Group on a slump-sale basis for about Rs 25,000 crore, it was announced in August last year, with a long-stop timeline of March 31 this year. It was extended by another six months in April earlier which ended on Thursday.

The Nifty Auto index closed 0.01 per cent down at 10596.95.

Nifty50 formed a bearish candle on the weekly scale, but continued to form its sequence of higher lows of since last nine weeks. Now it has to hold multiple support of 17 550-17,580 zones for a rise towards 17,777 and 17,850 levels, whereas support is seen at 17,450 and 17,350 levels.

The weakness in Nifty50 was largely due to selling in bank and financial services stocks. Profit booking in realty names also did not help the cause.

Paras Defence scripted history in debut trade. Investors are now gearing up for results season, which kicks off from next week. Dynemic Products hit the upper circuit, whereas Cummins witnessed profit taking.

“Of the two, Tata Power seems to be far better. NTPC because of better capital allocation ahead can deploy strong operating cash flows to renewable assets. ”

“Whether Zee will have to wait for the ministry approval first or whether they go to the shareholders first is not very clear,”

The former governor is firmly of the view that this disparity “needs to be fixed” in order to ensure that the MPC has all the tools available to meet its objectives of price stability while keeping in consideration optimum economic growth.

The rejection by the board of the company comes after the National Company Law Tribunal had on Thursday directed the broadcasting company to hold the EGM as requested by Invesco.

“Ola Future factory which is the largest two-wheeler factory in the world, is our global manufacturing hub. We will take the products all around to newer international markets and across Europe, UK, ASEAN and south-east Asia as well.”