After opening the day lower, the benchmark indices continued their downward momentum, ended the session in the red.

Indian equity market indices Senex and Nifty staged a smart recovery in the last few hours of the session today, ending Tuesday's session on a marginally negative note.

At the closing bell, the BSE Sensex closed lower by 57 points (down 0.1%).

Meanwhile, the NSE Nifty closed 32 points lower (down 0.1%).

Axis Bank, Bajaj Finance, and SBI are among the top gainers today.

Tech Mahindra, Trent, and HUL, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  25,244, lower by 44 points at the time of writing.

The BSE MidCap index ended 0.3% lower, and the BSE SmallCap index ended 0.4% lower.

Sectoral indices are trading mixed today, with stocks in the metal sector and the banking sector witnessing buying. Meanwhile, stocks in realty sector and the healthcare sector witnessed selling pressure.

The rupee is trading at Rs 88.1 against the US$.

Gold prices for the latest contract on MCX are trading 1.5% higher at Rs 114,010 per 10 grams.

Meanwhile, silver prices were trading 1.2% higher at Rs 135,216 per 1 kg.
 

NTPC Commissions 100MW Renewable Energy Project

In the news from the power sector, NTPC Green Energy has declared that 100 megawatts (MW) of IRCON Renewable Power Limited's (IRPL) 500 MW plant capacity will begin commercial operations.

With this expansion, IRPL's overall operating capacity now stands at 400 MW.

Ayana Renewable Power Private Limited, a wholly owned subsidiary of ONGC NTPC Green Private Limited, a 50% joint venture of NTPC Green Energy, owns 24% of IRPL.

This capacity will bring the NGEL Group's installed capacity to 7,372.575 MW.
 

RDB Infrastructure Gains on Power Deal

Moving on to the news from construction sector, shares of RDB Infrastructure came into focus following the company's signing of a Memorandum of Understanding (MoU) with Stargen Power Private Limited.

The deal calls for RDB Infrastructure to carry out 52 MW (AC) and 65 MW (DC) solar power projects at five locations close to Nagpur, Maharashtra, with an overall EPC contract value of Rs 2.3 billion (bn).

The projects are expected to be completed within a year of all sites being commissioned, though extensions may be possible if both parties agree.

RDB Realty & Infrastructure Limited is a real estate company that was founded in 1981 with a goal to provide homes to all. The company develops residential, commercial, and township projects across India and has diversified interests in sectors like power, logistics, and packaging.
 

Shilpa Medicare Gets EMA Initial Nod

Moving on to the news from pharma sector, shares of Shilpa Medicare increased after the company announced that the European Medicines Agency (EMA) had granted Initial Authorisation for its Rivaroxaban Orodispersible Films (10 mg, 15 mg, and 20 mg), opening the door for final marketing approval in Europe.

In addition to treating diseases like deep vein thrombosis and pulmonary embolism, the anticoagulant rivaroxaban lowers the risk of heart attack and stroke.

Developed as an orodispersible film (ODF), Shilpa's version is bioequivalent to Bayer AG's innovative brand Xarelto and is intended to increase patient compliance, especially in the elderly population.

An estimated $2.5 billion is spent on oral Rivaroxaban formulations in Europe.

The USFDA, EMA, and UK MHRA have already approved Shilpa's Unit VI facility in Dabaspet, Karnataka, where the product will be manufactured. Additionally, this is the third prescription ODF approval for the company in Europe.

Shilpa Medicare Limited is a global pharmaceutical company specializing in developing and manufacturing Active Pharmaceutical Ingredients (APIs) and finished dosage formulations, with a focus on oncology.

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