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Equitas Small Finance Bank, Birla Corporation, and Sanofi India were the top new small-cap picks by Indian mutual funds and portfolio management scheme (PMS) managers in May. Equitas SFB was selected by 9 mutual funds, 10 PMS, 13 unit-linked insurance plans, and one alternative investment fund. Other small-cap picks included Indiamart Intermesh, Affle India, VIP Industries, Birlasoft, Can Fin Homes, PVR, Inox, and Exide Industries. Meanwhile, managers sold off shares of Zee Entertainment Enterprises, PVR Inox, JB Chemicals, and Gland Pharma.

From the Sensex pack, UltraTech Cement, Power Grid, Wipro, Tech Mahindra, L&T, HDFC Bank, and TCS opened higher, while NTPC, Axis Bank, Sun Pharma, Infosys, Bajaj Finserv, and Tata Steel opened in the red.

The Indian market is set to consolidate as the S&P BSE Sensex rallied over 150 points and Nifty50 closed above 18,800 levels. In the last week, the India VIX has been hovering in a small range, while volatility has decreased and comforted the bulls at support zones. Option data suggests a shift in the broader trading range between 18,550 to 19,000 zones with an immediate trading range in between 18650 to 18900 zones. Stocks include BHEL, Bajaj Consumer, and HCL Technologies among others, with suggested target prices and stop loss.

A total of 193,776 shares changed hands on the counter till 10:00AM (IST)

Norway-based Norges Bank has sold partial stake in Archean Chemicals through open market transactions on Tuesday.

​And after a long-long time if you see the price action especially in mid and small caps, it is suggesting that the sentiment has really changed.

In our judgment, over the last six-seven years, pharma has actually gone nowhere and all the negatives that this sector has seen, both in terms of volume contraction as also prices coming down particularly in the export market, those have played out in stock prices.

Cyber insurance premiums have surged 50-60% in the past year as reinsurance rates have gone up amid a global increase in cyberattacks and ransomware incidents. To cope with these soaring costs, companies are adopting measures such as reducing coverage capacity or increasing deductibles to maintain affordable premiums.

Reliance Industries has been granted permission by the Reserve Bank of India (RBI) to retain $2bn over its raised $3bn loan in the last fiscal year to use for working capital and expansions in energy and telecoms. The strong demand for the loan saw the company retain more than needed. Lenders from the UK, the US, India, South Korea, Taiwan and Mauritius were involved in the initial loan deal.

In FY13, Piramal Enterprises sold its domestic pharmaceutical formulations business to Abbott Laboratories for ₹17,000 crore and had invested part of the proceeds in Shriram Group companies. Piramal invested ₹4,583 crore across three Shriram Group entities, according to a Crisil report.