After opening the day weak, the Indian benchmark recovered some losses as the session progressed and ended the day lower.

Benchmark Indian equity indices BSE Sensex and NSE Nifty50 were lower amid rangebound trading on the bourses on Tuesday.

At the closing bell, the BSE Sensex closed lower by 109 points (down 0.1%).

Meanwhile, the NSE Nifty closed flat at 23,644.

ONGC, Trent, and Coal India are among the top gainers today.

TCS, Infosys, and Tech Mahindra on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,770, down by 65 points at the time of writing.

The BSE MidCap index ended marginally higher and the BSE SmallCap index ended 0.7% higher.

Sectoral indices were trading mixed today with socks in the oil & gas sector, metal sector, and energy sector witnessing buying. Meanwhile, stocks in the IT sector and the realty sector witnessing selling pressure.

ITI, Radico Khaitan, and Lupin hit their respective 52-week highs today.

The rupee is trading at 85.68 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 76,509 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 87,613 per 1 kg.
 

Venus Remedies Shares Jump 3%. Here's Why

In news from the pharma sector, Venus Remedies has expanded its reach into Eastern Europe, after the company received a Good Manufacturing Practice (GMP) certificate from the government of Moldova, sending shares higher by over 3%.

The approval from Moldovan Health Ministry is for Venus' antibiotic-carbapenem facility.

The nod for the facility will ensure 'access to high-quality, effective, and reliable antibiotics' across the region.

Carbapenems are a class of broad-spectrum antibiotics that are used to treat severe cases of infections.

Earlier in December, Venus Remedies also managed to secure Marketing Authorization in the Philippines.

Centre has set an ambitious target to ramp up the size of India's pharma sector to US$ 120 bn by 2030 from the present US$ 43 bn, with a focus on manufacturing and exports, to strengthen the brand as the 'Pharmacy of the World'.

Tata Chemicals & GHCL Jumps Upto 6%

Moving on to news from the chemical sector, shares of Tata Chemicals Ltd, and Gujarat Heavy Chemicals Ltd rose on 31 December as the government announced a minimum import price for soda ash.

In a notification, the Directorate General of Foreign Trade said the import policy for soda ash has been changed from 'Free' to 'Restricted' and that the minimum import price is Rs 20,108/MT.

The scheme will be effective till 30 June 2025, said DGFT.

Soda ash is a crucial component in several industries, with significant applications in glass manufacturing, chemical production, and the detergent industry.

The government's intervention is aimed at stabilizing the domestic market and supporting local producers.

Furthermore, the notification stated that the current free import policy would resume on 1 July 2025, barring any subsequent amendments.

This development impacts multiple sectors relying on imported soda ash.
 

RVNL Rallies 8%. Here's Why

Moving on to news from the railway sector, Rail Vikas Nigam shares advanced nearly 8% in the morning session on the last trading day of 2024, after the railway stock was declared the lowest bidder for two projects.

The first, RVNL won a project from the Central Railway worth Rs 1.4 bn. RVNL has a timeline of 24 months to complete the project.

The railway firm will undertake the design, supply, erection, testing, and commissioning of 132/55 KV traction substation, sectioning posts, and sub-sectioning posts in the Bhusaval-Khandwa section.

The 2 x 25 KV Traction System (Scott Connected Transformer) of Bhusaval - Khandwa sections of Central Railway will be upgraded to meet 3000 MT loading target on an EPC mode.

For the second project that Rail Vikas Nigam Limited emerged as the lowest bidder is from the East Coast Railway for a total consideration of Rs 4 bn.

The order will be executed within 30 months.
 

Unimech Aerospace makes Stellar Debut

Moving on, shares of Unimech Aerospace and Manufacturing made a stellar debut on bourses on Tuesday, listing at Rs 1,491 per share, reflecting a premium of Rs 706, or 89.9%, against the issue price of Rs 785 on the BSE.

With a listing premium of nearly 90%, Unimech Aerospace IPO turned out to be a multibagger investment for investors who received the Unimech IPO allotment.

Unimech Aerospace's initial public offering (IPO) was a book-built issue of Rs 5 bn. Unimech Aerospace IPO had received an overwhelming response from investors.

The public offering, which opened for subscription on Monday, 23 December 2024, and concluded on Thursday, 26 December 2024, finished with an oversubscription of 175.3 times.

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