After opening the day on a positive note, Indian share markets pared gains as the session progressed and ended 0.6% lower.

Benchmark indices ended lower after the US Federal Reserve hiked interest rates by 0.25%. The monthly F&O expiry for the July series also weighed on the sentiment.

At the closing bell, the BSE Sensex stood lower by 440 points (down 0.7%).

Meanwhile, the NSE Nifty closed up by 118 points (down 0.6%).

Cipla, Sun Pharma, and Apollo Hospital were among the top gainers today.

M&M, Tech Mahindra, and Nestle on the other hand were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,659, down by 147 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index ended 0.5% higher and BSE SmallCap ended marginally higher.

Sectoral indices ended on a mixed note with stocks in the healthcare sector and realty sector witnessing most of the buying.

On the other hand, stocks from the auto sector and oil & gas sector witnessed selling pressure.

Shares of Raymond and Colgate hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a mixed note. The Nikkei ended 0.7% higher, while the Hang Seng ended up by 1.4%. The Shanghai Composite ended lower by 0.2%.

The rupee is trading at 81.93 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% higher at Rs 59,535 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading 0.6% higher at Rs 75,758 per kg.
 

Why Marico's share price is rising?

In news from the FMCG sector, Marico share prices jumped 4% after the company signed definitive agreements to acquire a majority stake in Satiya Nutraceuticals, which owns the brand, The Plant Fix- Plix, a digital-first, clean label, plant-based nutrition brand.

In an all-cash deal, the maker of Parachute Coconut oil will buy the stake in the company for an aggregate consideration of up to Rs 3.7 bn.

The acquisition of 32.75% of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, through primary infusion and secondary buyouts is expected to be completed on 26 July 2023.

Acquisition of the remaining 25.3%of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, to be completed in one or more tranches by May 2025.

In line with the company's strategy to accelerate our diversification journey, the investment in Plix not only expands our total addressable market in value-added wellness foods and nutrition segments but also brings another digital-first brand with a distinct value proposition into its fold.

With an increase in the net profit margins and improving inflation, Marico is among the 5 Stocks to Watch Out for When Inflation Cools Down.

Marico also stands among the Best Midcap Stocks for Long Term.
 

Zydus Lifesciences gains 5% today. Here's why.

Moving on to the news from the Pharma sector, Zydus Lifesciences shares gained 5% to touch a 52-week high of Rs 654 today after the pharma company received final approval from the United States Food and Drug Administration (USFDA) for plerixafor injection.

Zydus Lifesciences got the American health regulator's nod for 24 mg/1.2 mL (20 mg/mL) single-dose vials of plerixa for injection used by patients with certain types of cancer to prepare them for a stem-cell transplant.

The drug will be manufactured at the group's injectable manufacturing facility in Gujarat's Ahmedabad.

The group now has 374 approvals and has far filed over 442 ANDAs since the commencement of the filing process in FY 2003-04.

Bayer Zydus Pharma, a joint venture between Zydus Lifesciences and Bayer (South East Asia) PTE Limited, agreed to set up a joint venture company for marketing pharmaceutical products.

The agreement is to amend certain clauses of the joint venture agreement (JVA) to enable participation in tenders of some government institutions / public sector undertakings for some products through an affiliated entity of a JV Partner.

The healthcare and pharma megatrend is unstoppable in India. 
 

Genus Power forms AMI arm

Moving on to news from the engineering sector, shares of Genus Power Infrastructures rose 6% today after the company incorporated a wholly-owned subsidiary Genus Mizoram SPV.

The subsidiary is incorporated as a SPV (special purpose vehicle) for the execution of an Advanced Metering Infrastructure Service Provider Contract.

It will manufacture consumption meters for electricity, water or gas, flow meters, and counting meters.

Genus Power Infrastructures recently entered into the big league striking a marquee deal with GIC for an equity infusion of Rs 5.2 bn for a 15% stake and setting up a platform - an SPV (where 26% is from Genus and 74% from GIC).

India is home to many prominent engineering companies that cater to a wide range of sectors. For more, check out the top engineering companies in India that are driving the country's growth and development.

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