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Sensex Ends 393 Points Higher; Infosys and TCS Among Top Nifty Gainers
Thu, 24 Jun Closing

Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices edged higher in today's session, tracking firm cues from global peers and helped by gains in IT and metal stocks.

At the closing bell, the BSE Sensex stood higher by 393 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 104 points (up 0.7%).

Infosys and TCS were among the top gainers today.

Reliance Industries and Coal India, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,845, up by 52 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended down by 0.5% and 0.2%, respectively.

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Sectoral indices ended on a mixed note with stocks in the IT sector, metal sector and banking sector witnessing most of the buying interest.

Energy and oil & gas stocks, on the other hand, witnessed selling pressure.

Shares of Greaves Cotton and Indian Hotels hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Nikkei and the Shanghai Composite ended the day on a flat note today, while the Hang Seng ended up by 0.2%.

US stock futures are trading on a positive note today with the Dow Futures trading up by 168 points.

The rupee is trading at 74.16 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.2% at Rs 46,972 per 10 grams.

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In news from the pharma sector, Orchid Pharma was among the top buzzing stocks today.

Shares of Orchid Pharma were locked in 10% lower circuit at Rs 1,187.9 per share on the BSE today as the company's two-day stake sale through an offer for sale (OFS) began today.

The floor price for the offer has been fixed at Rs 375 per share.

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Dhanuka Laboratories, one of the promoters of Orchid Pharma, proposed to sell in aggregate up to 3.3 m equity shares, representing 8% of the total equity share capital of the company.

The issue opened today for non-retail investors, and will open for retail investors on Friday.

The sale is being undertaken by the seller, inter alia, for achieving the minimum public shareholding, the company said in its notice to exchanges.

As of 31 March 2021, the promoters held 98% stake in Orchid Pharma, the shareholding pattern data shows.

Apart from that, while announcing March quarter results on 22 May 2021, Orchid said that it had developed a new molecule known as OCID-5090, which was licensed to a company named Allecra Therapeutics, this molecule was undergoing the clinical trials and the molecule has cleared the Phase 3 clinical trials.

Orchid Pharma is pioneer in cephalosporin antibiotics, research and development (R&D) focused, inventor of enmetazobactam (Phase 3 trials done in US & EU) acquired by Dhanuka Group through corporate insolvency resolution process (CIRP) process on 1 April 2020.

Orchid Pharma share price ended the day down by 10% on the BSE.

Moving on to news from the FMCG sector...

Dabur India to Set Up Largest Unit in Madhya Pradesh

Packaged consumer healthcare company Dabur announced a fresh investment of Rs 5.5 bn for a new manufacturing facility in Madhya Pradesh, which it said would be one of its largest plants in the world.

The company said in a statement the new plant, which would be involved in the production of making foods, ayurvedic medicines and health supplements would provide direct and indirect employment to 1,250 people in the first phase and over 3,000 people subsequently.

'We have a clear growth strategy, this facility will provide us space to rapidly expand production capacity for ayurvedic products and medicines, as well as innovative foods', Dabur chief executive officer Mohit Malhotra said.

Since the Covid outbreak, demand for ayurvedic products has seen rapid growth.

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Products like chyawanprash, honey, and health juices have been witnessing record growth across channels including e-commerce.

Dabur is an Indian multinational consumer goods company. It derives around 60% of its revenue from the consumer care business, 11% from the food business and remaining from the international business unit.

How this pans out remains to be seen. Meanwhile, we will keep you updated on the latest news from this space.

Dabur India share price ended the day up by 1.7% on the BSE.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these for stages.


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

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Read the latest Market Commentary


What else is happening in the markets today? Dig in...

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Stock Market Updates

Sensex Trades Marginally Higher, Dow Futures Down by 122 Points (Today's Market)

Jul 30, 2021 12:30 pm

BSE Sensex is trading up by 91 points, while the NSE Nifty is up by 33 points.

QUESS CORP Share Price Up by 5%; BSE IT Index Up 0.7% (Today's Market)

Jul 30, 2021 10:56 AM

QUESS CORP share price is trading up by 5% and its current market price is Rs 874. The BSE IT is up by 0.7%. The top gainers in the BSE IT Index are QUESS CORP (up 5.2%) and TECH MAHINDRA (up 9.3%). The top losers are INFOSYS (down 0.1%) and WIPRO (down 0.3%).

Sensex, Nifty Open Flat; Tech Mahindra Zooms 8% Post June Quarter Results (Today's Market)

Jul 30, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 16 points, while the Nifty is trading lower by 9 points.

RATNAMANI METALS Share Price Up by 5%; BSE METAL Index Up 0.3% (Today's Market)

Jul 30, 2021 09:35 AM

RATNAMANI METALS share price is trading up by 5% and its current market price is Rs 2,208. The BSE METAL is up by 0.3%. The top gainers in the BSE METAL Index is RATNAMANI METALS (up 5.3%). The top losers are SAIL (down 0.1%) and HINDALCO (down 0.5%).

MOTILAL OSWAL Share Price Down by 6%; BSE 500 Index Up 0.1% (Today's Market)

Jul 30, 2021 09:31 AM

MOTILAL OSWAL share price is trading down by 6% and its current market price is Rs 1,007. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are TECH MAHINDRA (up 7.8%) and TEJAS NETWORKS (up 5.0%). The top losers are MOTILAL OSWAL (down 5.9%) and SWAN ENERGY (down 6.3%).

TECH MAHINDRA at All Time High; BSE IT Index Up 0.6% (Today's Market)

Jul 30, 2021 09:31 AM

TECH MAHINDRA share price has hit an all time high at Rs 1,217 (up 7.8%). The BSE IT Index is up by 0.6%. Among the top gainers in the BSE IT Index today are TECH MAHINDRA (up 7.8%) and ORACLE FINANCIAL (up 1.0%). The top losers include HEXAWARE TECHNOLOGIES and INFOSYS (down 0.1%).

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