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“India needs a judicious set of policies and regulations to create new opportunities, and appropriate steps are imperative for boosting viability of the sector and establishing a thriving three-private plus one PSU player (market) structure…,” Vodafone Idea (Vi) managing director Ravinder Takkar said.

Jio wants the government to auction spectrum for satellite broadband service providers and make them abide by the same security requirements as telcos, while Airtel chairman Sunil Mittal believes “there is absolutely no case for auctioning satellite spectrum”.

In August, the lender had said that Sebi had exempted the Jammu & Kashmir government from complying with its norms on substantial acquisition of shares and takeovers in the proposed acquisition of 16,76,72,702 equity shares (6.06 per cent) of the bank during 2021-22.

In another transaction, India Capital Management sold 216,854 shares of Kirloskar Industries at Rs. 1,407.1 apiece through a block deal on the BSE.

On the sectoral front, consumer-facing sectors like FMCG, retail and aviation are expected to do well as Indians venture out more amid relaxing of restrictions by most state governments.

Varun Beverages was among the most impacted companies due to Covid-19 disruption, but has seen spectacular recovery in the first half of this calendar year as the economy opened up and now the analysts are gung ho on the stock.

The Dow Jones Industrial Average fell 42.09 points, or 0.12 per cent, at the open to 35,401.73.

The regulator, in June, had invited expression of interest (EoI) from "reputed and reliable solution providers for implementation of data analytics project and building of data models at Sebi".

Analysts said the immediate support has shifted higher to the 17,200 level, even though it is the 17,050 level which would be the key for a reversal. A higher target of 17,500 and 17,700 is possible, they said.

Nifty50 hit a fresh lifetime high of 17,340 and closed near higher level with a gain of 90 points.