Although the benchmark indices opened higher, they traded positively throughout the session and ultimately closed green.
Indian equity benchmarks, Sensex and Nifty50, settled higher, tracking gains in IT and pharma stocks, and as oil prices continued to decline.
At the closing bell, the BSE Sensex closed points 291 higher (up 0.3%)
Meanwhile, the NSE Nifty closed 89 points higher (up 0.3%)
Sun Pharma, Infosys, and Tech Mahindra were the top gainers today.
Asian Paints, ITC, and M&M, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 24,114, with 65 points higher at the time of writing.
The BSE 150 Midcap index is trading 0.3% higher, and the BSE 250 SmallCap index is trading 0.7% higher.
Baring FMCG sector and the consumer durable sector, all other sectoral indices were trading positively today, with the oil & gas sector and the power sector witnessing buying.
The rupee is trading at Rs 94.6 against the US$.
Gold prices for the latest contract on MCX are trading 1.2% higher at Rs 1,49,033 per 10 grams.
Meanwhile, silver prices were trading 2% higher at 2,37,873 per 1 kg.
Chennai Petro Navratna Status Boosts Growth
Shares of Chennai Petro came into focus after the company announced that the Government of India has granted it Navratna status.
This status gives the company greater financial and operational independence, allowing it to make larger investments, form joint ventures, enter new markets, and take key business decisions without prior government approval in many cases.
It also reflects the PSU's strong performance and is aimed at improving efficiency, competitiveness, and faster decision-making to capture growth opportunities.
CPCL is a prominent public sector undertaking under the Ministry of Petroleum and Natural Gas, operates as a group company of Indian Oil Corporation Limited (IOCL).
Kirloskar Oil Engines Wins HyperNext Order
Shares of Kirloskar Oil Engines came into focus after the company secured a significant order from HyperNext.
In an exchange filing, the company announced that it has received a major order from HyperNext, a next-generation digital infrastructure firm focused on hyperscale-ready, AI-enabled data centre solutions.
The order includes a 192 MW project comprising 96 units of KOEL's 2500 kVA Optiprim Dual Core power systems. This marks one of the largest deployments of high-capacity power systems for hyperscale data centres in India.
Kirloskar Oil Engines is a leader in the production of internal combustion engines, generator sets, and farm equipment, with a good global presence.
Strategic Acquisition Strengthens Sun Pharma Portfolio
Sun Pharma announced that it will acquire Innovcare Lifesciences Private Limited, a Mumbai-based pharmaceutical company engaged in marketing and distribution of pharmaceutical, nutraceutical, and cosmeceutical products.
The deal is worth Rs 2.71 billion.
The acquisition is a 100% cash deal and is not a related party transaction. It does not require any regulatory approvals and is expected to be completed by 31 July 2026.
This is a strategic move by Sun Pharma to strengthen and expand its product portfolio in the pharmaceutical and healthcare segment.
Sun Pharma including, its subsidiaries and associates, is the fourth largest global specialty generic company that is ranked 1st in India and 8th in the US.
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