The other major reform in the pipeline is setting up of a Limited Purpose Clearing Corporation for repo in corporate bonds, Tyagi said at an event organised by industry body CII.

In a statement, JSW Steel said it has become the first company in the steel sector globally to issue a USD-denominated Sustainability Linked Bonds (SLBs).

The company believes it would also unlock additional value for US shareholders, provide a liquid stock that can be used for local M&A in India, further capital to strengthen the balance sheet beside the additional sell-side research analyst coverage.

The government said banks have identified bad loans worth Rs 2 lakh crore, which will be shifted to the NARC for resolution, and nearly Rs 90,000 crore of bad debt would be resolved in the first phase.

Nifty may see a quiet start on Friday and the 17,650 and 17,700 levels may act as immediate resistance points. Supports should come in at 17,560 and 17,500 levels.

The Dow Jones Industrial Average fell 4.12 points, or 0.01 per cent, at the open to 34,810.27.

“My desirable level is Rs 300; that will be bold. We are not anywhere close to it but to get to Rs 200 will be a very justified approach to tariff hike.”

Vodafone Idea completely stole the spotlight during the session. The telecom player buzzed the most after the relief package, followed by other peers who will also benefit from the relief. Banking stocks were also on the radar.

The diamond hands (meme slang for long-term investors) stormed Twitter and every other social media outlet to express their joy as shares of ITC jumped nearly 7 per cent today. The stock is one of the most widely held among retail investors, who own over 12 per cent stake in it.

It was the second session when Nifty50 ended up forming a bullish candle on the daily chart, suggesting strength. Analysts said the index seems to be headed for the 17,700-17,900 levels.