After opening the day on a quiet note, benchmark indices remained muted on Thursday and ended the day lower.Indian stock markets closed higher on Thursday, amid the weekly F&O expiry, and information technology (IT) stocks held the fort.At the closing bell, the BSE Sensex stood higher by 63 points (up 0.1%).Meanwhile, the NSE Nifty closed higher by 18 points (up 0.1%).Tata Motors, Sun Pharma, and Infosys are among the top gainers today.HDFC Bank, Wipro, and Tech Mahindra on the other hand, were among the top losers today.The GIFT Nifty was trading at 24,415, up by 29 points, at the time of writing.The BSE MidCap index and BSE SmallCap index ended 0.6% higher.Sectoral indices are trading mixed, with stocks in the realty sector, energy sector, and IT sector witnessing the most buying. Meanwhile, stocks in the consumer durables sector and finance sector witnessed selling pressure.Shares of Siemens, HDFC AMC, and Trent hit their respective 52-week highs today.The rupee is trading at 83.5 against the US$.Gold prices for the latest contract on MCX are trading flat at Rs 72,373 per 10 grams.Meanwhile, silver prices were trading marginally higher at Rs 91,849 per 1 kg.Speaking of the stock market, Shipping is significant in the current world as 80% of world trade by volume and 70% by value happens via ships.So, if India is to be a key player in the global supply chain, it must become a hub of shipbuilding and repair as well.Currently, the country accounts for about 20% of the market demand for commercial vessels worldwide.
 Why Wockhardt Share Price is RisingIn news from the pharma sector, Wockhardt shares are on a roll, extending the uptrend for the 12th straight session on 4 July. With the sharp rally, the stock hit a fresh 52-week high of Rs 995, delivering exuberant gains of nearly 80% in the past month.Optimism for the company stems from its research and development prowess as it nears the launch of two blockbuster antibiotics, poised to change the course of the drugmaker’s earnings trajectory.Two of the company’s antibiotics, currently under the investigational process are sitting right on their launch timelines. The drugmaker antibiotic Nafithromycin, used to treat pneumonia is awaiting approval from the Drug Controller General of India for Nafithromycin and will be launched in a couple of months after getting a greenlight.The drug has the potential to seize market share from Azithromycin due to its superior results and quicker efficacy.Wockhardt has secured two patents for this drug, expiring in 2031 and 2037, providing ample time to capitalize on its robust R&D efforts.In addition, another investigational antibiotic drug, Zaynich has also shown encouraging results in its phase 3 trials.While Nafithromycin is expected to launch in FY25, targeting a market size of hundreds of crores over the next three to five years, phase 3 trials for Zaynich are anticipated to conclude by the last quarter of the current fiscal year.

Persistent Systems Hits Fresh High. Here’s why
Moving on to news from the software sector, shares of Persistent Systems cruised 4% to scale a new all-time high of Rs 4,760 on 4 July, extending gains for a sixth trading session in a row, after acquiring US-based Starfish Associates for around US$ 20.7 m.The acquisition bodes well for the company as it will build its engineering capabilities and expand its AI-driven business transformation.The total acquisition size is approximately US$ 20.7 m, comprising an upfront payment of US$ 15.4 m to shareholders (subject to customary adjustments for working capital, debt, and cash at closing) and a maximum cumulative earn-out of IS$ 5.1 million to eligible sellers over the next two years.The deal will be executed over the next four to six weeks, subject to the satisfaction of customary closing conditions it said.
 Cello World Hits Records HighMoving on, shares of Cello World surged nearly 7% to hit an all-time high of Rs 1,025 on 4 July after the company launched a qualified institutional placement (QIP) to raise Rs 7.3 bn.The news of the QIP also tipped off a spike in volumes in the counter as 1 m shares changed hands on the exchanges so far, sharply higher than the one-month daily traded average of f0.4 m shares.In the QIP, the company is offering equity shares at a floor price of Rs 896.1 per share, a near 12% discount from the previous closing price of Rs 901.1.The fundraising comes just eight months after the company was listed on the stock exchanges through a Rs 19 bn initial public offering (IPO), during which the company’s promoters and investors sold their shares in an offer for sale (OFS).The company plans to use the funds for various purposes, including debt repayment, capital expenditure to enhance its manufacturing facilities, funding its growth plans, and meeting working capital requirements.Another crucial reason for the QIP is to reduce the promoter stake in the company to 75% to comply with the Securities and Exchange Board of India (SEBI) minimum public shareholding norms.According to these norms, all newly listed companies must achieve a minimum public shareholding of 25% within three years of listing.More By This Author:Sensex Today Hits Record High, Tops 80,300 MarkSensex Today Rallies 545 Points; Nifty Tops 24,250 MarkSensex Today Hits Record High, Crosses 80,000 Mark