Insurance Regulatory and Development Authority (IRDAI) has maintained a status quo on the obligatory cession of 5 percent to GIC Re. Obligatory cession is the part of the business that general insurers have to mandatorily cede to the national reinsurer.

Tamil Nadu government allowing 100 percent occupancy is a huge positive for multiplex cinema major PVR, which has a large presence in the southern state. The company has made a couple of acquisitions. Moreover, the TN govt move has given market a renewed hope that it will be followed by some of the other states as well. A big trigger would also come if the Hindi films also start releasing in theatres.   

In its quarterly business update, Marico’s management sounded fairly confident as the company witnessed a faster-than-expected recovery in the consumer sentiment.

Stock Market Highlights: The Indian benchmark indices, Sensex and Nifty ended at record levels on Monday led by robust buying in metal and IT stocks. Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 ending over 1 percent higher each. Barring Nifty Private Bank, all the sectoral indices ended in the green with the Nifty Metal index rallying the most over 5 percent.