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.

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.

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

Shares of Orchid Pharma were locked in a 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.

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 a 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 Allegra Therapeutics, this molecule was undergoing clinical trials and the molecule has cleared the Phase 3 clinical trials.

Orchid Pharma is a 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's 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.

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 the 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's share price ended the day up by 1.7% on the BSE.

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