Highlights

Indian equity benchmarks ended lower after a four-day rally due to profit-booking amid a lack of domestic triggers, while midcap stocks continued outperforming for the seventh consecutive session in broader markets.

Headline Indices
Sectors at a Glance

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What moved the market?

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Broader Market Performance

India VIXINDIA VIX12.79 +3.23%

Nifty Midcap 150NIFTY MIDCAP 150₹21,988.65 +0.68%

Nifty Smallcap 250NIFTY SMLCAP 250₹17,797.80 +0.88%

What Made Headlines?

Alembic Pharmaceuticals Ltd.APLLTD₹1,039.10 +7.25%

Alembic Pharmaceuticals shares surged after receiving USFDA approval for Doxorubicin Hydrochloride Liposome injection, treating ovarian cancer, AIDS-related Kaposi Sarcoma, and multiple myeloma.

ITD Cementation India Ltd.ITDCEM₹934.50 +5.07%

ITD Cementation secured a $67.4 million international marine contract for Ruwais LNG jetty construction in Abu Dhabi, adding to recent ₹960 crore contracts, including the Trivandrum International Airport project.

ITI Ltd.ITI₹336.65 +4.99%

ITI Limited shares rose after winning a ₹1,901 crore BSNL contract for BharatNet Phase-3 implementation in Arunachal Pradesh, Nagaland, and Manipur.

Marksans Pharma Ltd.MARKSANS₹261.50 +3.54%

Marksans Pharma shares rose after its subsidiary Time-Cap Laboratories received a US FDA inspection report for its New York facility following a Good Manufacturing Practices inspection in April 2025.

Torrent Pharmaceuticals Ltd.TORNTPHARM₹3,408.20 +2.00%

Torrent Pharmaceuticals will acquire a 46.39% controlling stake in JB Chemicals from KKR for ₹11,917 crore, valuing the company at ₹25,689 crore, with a planned merger and open offer following.

What’s Happening Beyond Markets?
  • India reduced zero-dose children from 0.11% to 0.06% (2023-2024), achieving a 78% decline in under-five mortality and an 86% maternal mortality reduction, outperforming global averages through Universal Immunization Programme expansion.
  • India’s external debt rose 10% to $736.3 billion by March 2025, driven by currency volatilities and US dollar appreciation. Long-term debt dominated while short-term debt’s reserve ratio increased slightly.
  • RBI reduced provisioning requirements for infrastructure lending to encourage bank funding after credit shrinkage from the tight norms. Moody’s expects finalized guidelines will reduce uncertainty and support medium-term growth.
  • States and UTs will raise Rs 2.86 lakh crore in Q2 FY26, part of Rs 15.4 lakh crore annual borrowing plan to achieve 4.4% fiscal deficit target and fund capital expenditure, according to the RBI.
  • South Korea became the world’s second-largest cosmetics exporter in 2025, surpassing the US with $3.61 billion exports (Jan-Apr), trailing only France after a 20.3% growth surge.
  • UK consumer credit borrowing fell to £0.9 billion in May 2025, the lowest since April 2024, driven by reduced credit card borrowing. Annual growth slowed to 6.5% amid mixed interest rate changes.
Back to Basics

Terms that put you one step ahead – every day.

What Is Net Interest Margin (NIM)?

Net Interest Margin (NIM) shows how efficiently a bank makes money from lending; it’s the difference between what banks earn on loans and what they pay on deposits.

If a bank pays 4% on deposits but charges 7% on loans, the 3% difference (minus costs) contributes to NIM. 

For example, if a bank earns ₹600 crore in interest, pays ₹300 crore on deposits, with average assets of ₹10,000 crore, the NIM is 3%.

Why does it matter?

NIM is crucial for evaluating bank profitability. Banks with higher NIMs are typically more efficient at managing the spread between borrowing and lending rates. 

Indian banks generally maintain NIM between 3-4%, with some banks achieving higher margins through better deposit mix and pricing power.

IPO Corner: Mainboard 

Upcoming IPO

CompanyDateTotal Issue SizeIssue PriceMinimum Investment
CrizacJuly 2, 2025 to July 4, 2025₹860 Cr₹233 to ₹245₹14,213

Before You Go…

Markets aren’t just charts and tickers; they’re daily tales of ambition and the quiet courage to stay invested.

We’ll be back tomorrow to cut through the noise, so you can focus on investing intelligently.


Disclaimer and Disclosure

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