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The Nifty Pharma index was trading 0.07 per cent at 21895.35.

UBS Global Research upgraded SBI Cards to ‘neutral’ from ‘sell,’ citing stabilization in delinquencies and improved underwriting. The target price was raised to Rs 800, reflecting optimism in operational performance and credit risk management. Despite recent underperformance, UBS expects gradual improvement with higher margins and returns by fiscal 2027.

Shares of Quadrant Future Tek surged 113.7% within a week of its January 14 listing, hitting Rs 619.65. The stock debuted at Rs 370 and has shown significant gains since. The IPO was highly subscribed, particularly by retail and non-institutional investors. Quadrant specializes in specialty cables and train control systems, positioning itself for growth in the Indian market.

Promoters held 44.07 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 18.24 per cent and 18.43 per cent, respectively.

Bitcoin surged above $102,000, driven by optimism ahead of Trump’s inauguration and a lower-than-expected core inflation report in the US. The likelihood of further Federal Reserve rate cuts fueled market sentiment. Major altcoins, including XRP, Solana, and Dogecoin, also saw gains. Analysts point to growing investor confidence and Bitcoin’s return to the $100,000 mark as key signals for the crypto market.

A total of 7,443 shares changed hands on the counter till 12:02PM (IST).

The stock traded at a P/E multiple of 46.99, while the price-to-book value ratio stood at 5.73.

The Nifty Pharma index closed 0.29 per cent at 21909.75.

The RBI now allows banks to open rupee accounts at overseas branches for non-residents to facilitate rupee internationalisation. These accounts, including SRVAs, require prior RBI approval. This initiative aims to reduce reliance on freely convertible currencies and promotes cross-border transactions using local currencies, enhancing trade and investment opportunities for Indian exporters and foreign investors.

Infosys did better than peers Tata Consultancy Services (TCS) and HCLTech in terms of beating analyst expectations, while echoing similar sentiments regarding an "improvement in discretionary spends" in select segments in core geographies