Thu Oct 03 02:37:06 UTC 2024: ## Indian Markets Open: Marico Up, Dr Reddy’s Signs HIV Drug Deal, JSW Cement Expands

**Mumbai, October 3, 2024** – Indian markets opened with mixed sentiment today, with investors keeping a close eye on geopolitical tensions in the Middle East and the US Federal Reserve’s upcoming interest rate decision.

**Key Market Movers:**

* **Marico:** Nomura has maintained a “buy” call on the FMCG company, citing better-than-expected consolidated revenue growth and India volume growth.
* **Dr Reddy’s Laboratories:** The pharmaceutical giant has signed a voluntary licensing agreement with Gilead Sciences to manufacture and commercialize Lenacapavir in India and other countries. Lenacapavir is a treatment for HIV-1 infection in adults with multidrug-resistant HIV-1.
* **JSW Cement:** The company has added 2 MTPA capacity at its Vijayanagar Plant in Karnataka, increasing its total capacity to 20.6 MTPA.
* **ITC Infotech:** The IT arm of ITC has acquired 100% shares of Blazeclan Technologies for ₹485 crore.

**Other Notable News:**

* **Mankind Pharma** has received all regulatory approvals for the acquisition of Bharat Serums and Vaccines.
* **Zydus Life** has received tentative approval from the US FDA for Enzalutamide Tablets, used to treat prostate cancer.
* **Ashok Buildcon** has been awarded two contracts worth ₹1,264 crore from MMRDA for the construction of two creek bridges.

**Market Outlook:**

* **Geopolitical tensions:** The ongoing conflict in the Middle East continues to weigh on investor sentiment, with oil prices rising 5% since Tuesday.
* **US interest rates:** Markets are awaiting the US Federal Reserve’s interest rate decision, which could have significant implications for global markets.
* **Domestic factors:** Strong domestic demand and robust earnings growth are expected to support Indian markets in the long term.

**Investors are advised to monitor the situation in the Middle East, the US Federal Reserve’s decision, and key domestic economic indicators.**

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