Wipro Buyback Starts Today | Concord Biotech Gets USFDA Nod | Top Buzzing Stocks Today

Thu, 11 Jun Pre-Open

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Indian market dragged down as the session progressed and ended the mixed.

The Nifty50 and the Sensex pared a significant amount of gains from the day's high as metal, PSU Bank, and realty stocks weighed.

At the closing bell on Wednesday, the BSE Sensex  closed higher by 64 points (up 0.1%).

Meanwhile, the NSE Nifty closed 27 points lower (down 0.1%).

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HUL, Axis Bank and ICIC Bank among the top gainers today.

ONGC, Coal India and Infosys on the other hand, were among the top losers today.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

The BSE 150 Midcap index ended 1.3% lower and the BSE 250 Smallcap index ended 1.1% lower.

Sectoral indices were trading mixed on wednesday with stocks in power sector and FMCG sector witnessing buying speer. Meanwhile stocks in energy and telecom sector witnessed selling pressure.

Speaking of stock markets, Tanushree Banerjee, Research Analyst at Equitymaster, highlights that the investment thesis for stock exchanges was long considered ironclad due to the powerful network effect.

The liquidity available at exchanges attracted even more participants, creating a strong entry barrier that competitors found difficult to break.

However, as the regulatory landscape evolves in 2026, the traditional moats of stock exchanges are now being put to the test.

Watch the video below to know more.

Top buzzing stocks today

Wipro share price will be in focus today.

AI-powered technology services company Wipro will commence its Rs 150 billion (bn) share buyback programme on Thursday, 11 June 2026, allowing eligible shareholders to tender their shares at a premium.

The buyback window will remain open until 17 June 2026.

According to the company's regulatory filing, Wipro plans to repurchase up to 600 m fully paid-up equity shares with a face value of Rs 2 each, representing up to 5.72% of its total paid-up equity share capital.

Hindustan Zinc shares will also be a top buzzing stock.

Shares of Vedanta Group-backed Hindustan Zinc witnessed sharp selling pressure on Wednesday, falling nearly 4 per cent to an intraday low of Rs 541.25, amid a decline in silver prices due to escalating geopolitical tensions in West Asia.

Market sentiment turned cautious after the US launched airstrikes on Iran, which responded with attacks on Bahrain and Kuwait, while also claiming to have targeted a US military base in Jordan, according to media reports.

CMR Green Tech Shares Hit Lower Circuit After Strong Market Debut

Moving on to the IPO space, shares of CMR Green Technologies hit the 10 per cent lower circuit on Wednesday after making a strong stock market debut earlier in the day.

The stock was trading at Rs 241.20 per share on the NSE, down 10 per cent from its listing price and locked at the lower circuit. Despite the decline, the stock remained up 25.63 per cent compared to its IPO issue price of Rs 192 per share.

CMR Green Technologies made a robust market debut, listing at a premium of over 43 per cent on the BSE at Rs 275.40 per share. On the NSE, the stock opened at Rs 268, marking a 39.58 per cent premium over the issue price.

The company's Rs 631 crore initial public offering (IPO) received an overwhelming response, with the issue being subscribed 127 times on the final day of bidding, supported by strong demand from qualified institutional buyers and non-institutional investors.

ABB India Share Dispute Verdic

The Bombay High Court has set aside an arbitral award in a nearly three-decade-old ABB India share dispute, raising significant concerns over SEBI's Online Dispute Resolution (ODR) framework.

Justice Somasekhar Sundaresan quashed the August 2024 arbitral award that had directed ABB India to restore shares to shareholder Sunil Hariram Jaisingh or compensate him based on prevailing market prices. The court held that the tribunal's decision was "perverse" and "patently illegal," stating that the dispute resolution process failed to follow the principles of natural justice.

The court observed that the tribunal placed excessive emphasis on completing the proceedings within a 60-day deadline without adequately explaining its computation, leading to a flawed adjudication process.

The ruling marks one of the first major judicial examinations of SEBI's ODR mechanism since its implementation and raises broader questions regarding the framework's ability to effectively handle complex securities disputes.

Concord Biotech Gets USFDA Nod

Concord Biotech announced that it has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Tofacitinib tablets in strengths of 5 mg and 10 mg.

The drug is indicated for the treatment of adult patients suffering from active rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis.

The approval is expected to strengthen the company's product portfolio and support its expansion in the US and other international markets. According to market estimates cited by the company, the US market opportunity for Tofacitinib tablets across both strengths is valued at approximately $500 million.

The company stated that the approval will help it capitalize on attractive market opportunities, broaden its product offerings, and support its long-term growth strategy in global markets.

To know what's moving the Indian stock markets today, check out the most recent share market updates here

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