Share markets in India are trading on a positive note in today's volatile trade. Benchmark indices edged higher as positive developments in a coronavirus vaccine trial improved global risk sentiment.

Global stock markets were upbeat after a Covid-19 vaccine from Pfizer and Germany's BioNTech was found to be well tolerated in early-stage human trials.

Sentiment also got a boost after US non-farm payrolls released overnight beat expectations, raising optimism of a V shape recovery. This came as an addition to the recent PMI data from China which was also ahead of expectations and rather encouraging.

The BSE Sensex is trading up by 189 points, up 0.5%, at 36,000 levels. Meanwhile, the NSE Nifty is trading up by 58 points.

The BSE Mid Cap index is trading up by 0.7%. The BSE Small Cap index is trading up by 0.6%.

On the sectoral front, gains are largely seen in the telecom sector and power sector.

Metal stocks, on the other hand, are witnessing selling pressure.

The rupee is trading at 74.68 against the US$.

Gold prices are trading down by 0.3% at Rs 48,030 per 10 grams.

Moving on, market participants are tracking Vedanta's share price. The Anil Agarwal-led company has been removed from all indices compiled by the NSE ahead of its possible delisting.

The company is also part of the benchmark Nifty 50 index. The stock will be replaced by HDFC Life Insurance Company with effect from July 31.

It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices.

NSE's index maintenance committee "has decided to replace Vedanta from various indices on account of proposed voluntary delisting. The changes shall become effective from July 31," the exchange said in a release.

Last week, Vedanta obtained shareholders' approval to delist. The company will soon launch the reserve book building process to delist.

Note that in the last two months, majority owners of Vedanta, Adani Power, and Hexaware Technologies have proposed buying out all publicly traded shares amid the coronavirus-induced sell-off in stocks.

It was also reported last month that Diageo is exploring options to delist United Spirits.

Enthusiasm to invest in shares of public companies that can go private matches a trend seen in Singapore in recent years.

According to the data from DBS Bank, the premium for privatizations and takeovers in the city-state averaged about 15% between 2017 and July 2019.

The strategy was earlier seen in India after the global financial crisis, and, in 2009, at least one local fund manager opened a fund to buy shares in companies seen to have a high likelihood of delisting.

In news from the FMCG sector, Emami and Hindustan Unilever (HUL) are among the buzzing stocks today.

HUL on Thursday said it has renamed its popular skincare brand Fair & Lovely as 'Glow & Lovely' after dropping the word fair from its name.

Earlier on June 25, HUL had announced dropping the word 'fair' from its popular skincare brand, citing its vision to adopt a holistic approach to beauty.

The company has attributed the move to its rebranding exercise and said it would seek regulatory approvals.

HUL, a subsidiary of British-Dutch multinational company Unilever PLC, had approached the Controller General of Patent Design and Trademark to get the name registered.

Meanwhile, Emami said it will consult legal experts over rival Hindustan Unilever's decision to rename its men's fairness cream brand as 'Glow & Handsome' that bears similarity to Emami's 'Fair & Handsome' brand of men's personal care products.

As per a leading financial daily, while HUL's Fair & Lovely dates back to the 70s and largely serviced a female audience, it was Emami that took a leap to launch a men's variant in 2005 after anticipating a growing demand for fairness creams among men.

The brand is endorsed by popular Bollywood actor Shahrukh Khan. HUL entered the men's personal care market in 2006 with Fair & Lovely for Men.

Emami labeled HUL's move as "unfair business practice".

Note that this isn't the first time the two companies are at loggerheads over their men's personal care portfolio.

Last year, HUL filed a petition against Emami for disparaging its Fair & Lovely cream in a television commercial.

In a 2018 injunction order against HUL, Emami sought to restrain HUL from publishing a TVC for the Fair & Lovely Men's brand over claims that it intends to "demean, disparage or denigrate Emami's product, Fair and Handsome Fairness Cream for Men, thus, interfering into the direct goodwill and business loss for the company".

Here's an interesting data of HUL, until 2013, the company had products and categories customized for the Indian market. That made it difficult for the company to sell its overseas products in the country. Nor could it reach out enough to a global customer base with Indian products.

A change of strategy suddenly opened up Unilever's global markets to HUL for both sourcing and selling.

The result was evident in profit growth and stock price over the next few years.

The stock of HUL Had the Crorepati Trigger in 2013