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Amneal Pharmaceutical is recalling three lots of urinary tract infection drug Sulfamethoxazole/Trimethoprim Tablets, USP, 400 mg/80 mg in the U.S. due to microbial contamination.

The recall is to the consumer level as the tablets may exhibit black spots on the tablet surface due to microbial contamination. The observance of black spots was reported in a product quality complaint, U.S. Food and Drug Administration said on the nationwide recall announcement of Amneal Pharmaceutical LLC.

Sulfamethoxazole/Trimethoprim Tablets, USP, 400 mg/80 mg is packaged in 100 tablet count and 500 tablet count bottles. The recall pertains only to the 400 mg/80 mg strength and the three lots. Amneal Pharmaceuticals has received no reports of adverse events, illnesses or injuries related to this recall, the U.S. FDA said.

Indian maritime companies signed shipbuilding and technology collaboration agreements at the Nor-Shipping conference in Oslo, as part of a government-led push to boost global partnerships in the sector, according to an official statement released on Thursday.One of the key agreements includes a memorandum of intent signed between Germany’s Carsten Rehder Schiffsmakler und Rehder GmbH & Co KG and Garden Reach Shipbuilders & Engineers Ltd (GRSE) for the construction of four multi-purpose vessels. The ships will feature hybrid propulsion systems and comply with advanced cybersecurity standards, the statement said, as reported PTI.In a separate development, Larsen & Toubro (L&T) signed a wide-ranging partnership with Norway’s DNV. The collaboration covers shipbuilding, offshore and maritime projects, expansion of port infrastructure, energy systems, industrial and smart infrastructure, ESG compliance, cybersecurity, risk services and digital platforms.The deals were signed during the official visit of Union minister for Ports, Shipping and Waterways Sarbananda Sonowal to the Norway pavilion. Since June 2, Sonowal has been on a five-day trip to Norway and Denmark, leading a business delegation of Indian maritime firms.Companies in the delegation include L&T Shipbuilding, Yeoman Marine Services, Smart Engineering & Design Solutions (SEDS), Chowgule Shipbuilding Division, Goa Shipyard Limited, Mandovi Dockyards, Synergy Shipbuilders, Varya Tech Pvt Ltd, Marine Electricals, Buoyancy Consultants, Shoft Shipyard, Garden Reach Shipbuilders & Engineers (GRSE), Cochin Shipyard Ltd (CSL), and Swan Defence & Heavy Industries.

Indian equities are trading at undervalued levels and offer a promising opportunity for patient, long-term investors, Morgan Stanley said in its latest report “India Equity Strategy Playbook.”It highlighted that the stock market has continued to be resilient since September 2024, despite global headwinds. Investors have faced a series of challenges, including overvaluations in small and mid-cap stocks, a broad market correction, volatility from US tariffs, and ongoing geopolitical tensions. Yet, India’s large-cap indices remained within 5% of record highs.“It will require patience, given the potential for bad news from outside India, but we believe rewards will come in time,” the report said, signalling cautious optimism.It attributed this positive outlook to India’s strong macro stability: improving terms of trade, a declining primary deficit, and low inflation volatility.Morgan Stanley also projected a mid-to-high teens earnings growth annually over the next three to five years, driven by three key factors: a budding private capital expenditure cycle, cleaner corporate balance sheets thanks to deleveraging, and a structural increase in discretionary spending.The report, quoted by ANI, referred to the ongoing geopolitical developments and said that they have shaped a new and more assertive stance on national security. This included a tougher doctrine on terror, which could deter future threats and support more decisive action from the government. Notably, the recent boost in India’s military performance was also taken as a sign of improved strategic and combat capabilities.Looking ahead, Morgan Stanley expected India to outperform other emerging markets. “India’s real policy rate relative to the US is turning up in the coming months and could support India’s relative outperformance to EM in the coming months,” it noted.Though the outlook remains largely positive, the report also cited some weak sports and catalysts. Key factors that could boost India’s market included a softer stance from the RBI, possible GST rate cuts, a trade agreement with the US, and stronger-than-expected growth figures.Globally, developments in US monetary policy, the state of the American economy, China’s deflationary pressures, and broader geopolitical risks will remain key external factors. India’s lower sensitivity to global trends means it may outperform in a bear market scenario, but underperform in a bullish global run.In terms of investment strategy, the report recommended a tilt towards domestic cyclicals over defensive and export-oriented sectors, suggesting that investors focus on India’s internal growth drivers rather than relying on global demand.

With global players and key states on board, India Energy Storage Week aims to boost manufacturing and green innovation through new partnerships and MoUsIndia is likely to attract investment exceeding Rs 8,000 crore in energy storage, electric mobility and green hydrogen during the upcoming India Energy Storage Week (IESW) 2025, to be held in New Delhi next month, PTI reported.Organised by the India Energy Storage Alliance (IESA), the event is scheduled for July 8–10 and is expected to bring together over 150 partners and exhibitors, alongside more than 1,000 companies. The platform will be used to facilitate business deals, MoUs and foreign collaborations aimed at accelerating India’s clean energy manufacturing ambitions.“The upcoming India Energy Storage Week 2025 is poised to be a game-changer for India’s energy storage sector. We anticipate a remarkable surge in investments,” said Vinayak Walimbe, Managing Director, Customized Energy Solutions.According to a statement from IESA, international delegates from countries including Australia, Germany, France, the UK, Finland, Canada, the USA, Israel and Korea are expected to participate. The alliance is also working with Gujarat, Odisha, Telangana and Chhattisgarh as state partners, and several central ministries are supporting the event.Debmalya Sen, President of IESA, said, “This year, we will witness the convergence of world-class innovations and foreign investments that will drive our industry forward.”The investment focus will span across battery storage, EV infrastructure and emerging clean technologies such as green hydrogen. These align with India’s larger strategy to position itself as a global hub for sustainable manufacturing.IESA recently projected that mobility and battery tech startups in India could attract $500 million in investments over the next year, further reflecting momentum in the sector.Government data from 2023 showed over 6,600 clean tech startups operating across 450 districts in nearly 34 states and Union Territories, underscoring the scale and reach of innovation within the country.

Home cooking became a bit cheaper in May as vegetable prices went down, the Roti Rice Rate report by Crisil Market Intelligence and Analytics said.The report released on Thursday stated that the average price of a home-made vegetarian thali slipped to Rs 26.2 in May 2025, down from Rs 26.3 in April and Rs 27.8 in the same month last year. The non-vegetarian version saw a steeper fall, dropping to Rs 52.6 from Rs 53.9 the previous month and Rs 55.9 in May 2024.The report, quoted by PTI, reflected a big drop in the prices of everyday vegetables compared to last year, tomatoes fell by 29%, onions by 15%, and potatoes by 16%. These three staples are essential to most Indian meals. Last year, these prices had surged due to crop issues, pest attacks, and water shortages in major producing states like Maharashtra, West Bengal and Karnataka.In case of non-vegetarian thalis, the price went down due to the 6% drop in broiler chicken prices, which make up half the overall cost. The fall was driven by oversupply and weaker demand following bird flu reports in parts of Maharashtra, Andhra Pradesh, Telangana and Karnataka.The drop in thali prices would have gone up further but was offset by 19% increase in vegetable oil prices due to the rise in import duties and 6% increase in LPG costs.Crisil intelligence director Pushan Sharma predicted a surge in vegetable prices going ahead driven by seasonal variations and a slight easing in prices of wheat and pulses amid strong domestic output.”He further added that rice exports may also go up by 20–25% due to India’s competitive pricing globally.On a monthly basis, tomato and potato prices edged up by 10% and 3% respectively, while onions continued to ease with a 10% decline. Broiler prices also fell 4% from April, offering further savings for meat-eating households.

Image for representational purposes only.
| Photo Credit: Reuters

The rupee snapped its two-day losing streak and closed 7 paise higher at 85.80 (provisional) against the U.S. dollar on Thursday (June 5, 2025), supported by positive domestic equities and a rise in Asian currencies.

Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong U.S. dollar index capped sharp gains.

Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India’s (RBI’s) monetary policy meeting for further cues, they said.

At the interbank foreign exchange, the domestic unit witnessed a volatile trading session— it opened at 85.86 and moved between a high of 85.67 and a low of 85.96 against the greenback during the day.

The local unit pared all its initial gains and settled for the day on the positive territory, higher by 7 paise at 85.80 against the American currency.

On Wednesday (June 4, 2025), the rupee depreciated for the second consecutive session and settled for the day lower by 26 paise at 85.87 against the U.S. dollar.

“We expect the rupee to trade with a negative bias on positive tone in the U.S. dollar and elevated crude oil prices. Ongoing trade tensions between U.S. and China and geo-political tensions between Ukraine and Russia may also pressure the rupee.

“However, any fresh FII inflow may support the rupee at lower levels. Traders may take cues from weekly unemployment claims and trade balance data from the U.S. Investors may remain cautious ahead of RBI’s monetary policy meeting decision on Friday,” Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said.

The RBI’s rate-setting panel started its three-day brainstorming on monetary policy on Wednesday, and the outcome is scheduled to be announced on June 6.

“There are expectations of a 25 bps rate cut. Investors may also watch out for the non-farm payrolls report from the U.S.. USDINR spot price is expected to trade in a range of ₹85.40-86.25.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.06% at 98.85.

Brent crude, the global oil benchmark, rose 0.31% to $65.05 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex surged 443.79 points, or 0.55%, to close at 81,442.04, while the Nifty rallied 130.70 points, or 0.53%, to 24,750.90.

Foreign institutional investors (FIIs) purchased equities worth ₹1,076.18 crore on a net basis on Wednesday, according to exchange data.

A screen displaying the Sensex is pictured at the Bombay Stock Exchange (BSE) building in Mumbai, India, May 12, 2025.
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty ended higher on Thursday (June 5, 2025), driven by buying in blue-chip stocks ICICI Bank and Reliance Industries amid fresh foreign fund inflows and firm global market trends.

Rising for the second straight day, the 30-share BSE Sensex climbed 443.79 points or 0.55% to settle at 81,442.04. During the day, it jumped 912.88 points or 1.12% to 81,911.13.

The NSE Nifty rose 130.70 points or 0.53% to 24,750.90.

Eternal was the biggest gainer in the Sensex pack, jumping 4.50%, followed by Power Grid, ICICI Bank, Reliance Industries, UltraTech Cement, Adani Ports, Sun Pharma, ITC and Hindustan Unilever were also among the winners.

In contrast, IndusInd Bank, Axis Bank, Bajaj Finserv and Bajaj Finance were among the laggards.

Foreign Institutional Investors (FIIs) turned buyers on Wednesday (June 4, 2025), as they bought equities worth ₹1,076.18 crore, according to exchange data.

In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in the positive territory, while Japan’s Nikkei 225 index ended lower.

European markets were trading higher in mid-session deals.

U.S. markets ended on a mixed note on Wednesday.

The Reserve Bank’s rate-setting panel started its three-day brainstorming on monetary policy as expectations are high of a 25 bps or even a jumbo 50 bps rate cut to fuel economic growth amid uncertainties created by Trump’s tariff moves.

The decision of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced on Friday (June 6, 2025).

Global oil benchmark Brent crude climbed 0.35% to $65.14 a barrel.

On Wednesday, the 30-share BSE Sensex climbed 260.74 points or 0.32% to settle at 80,998.25. The Nifty went up 77.70 points or 0.32% to 24,620.20.

Supported by easing oil prices and firm domestic equities, the rupee reversed a two-day losing run to settle marginally higher even as traders stayed cautious ahead of the RBI’s rate decision.The rupee closed 7 paise stronger at 85.80 against the US dollar on Thursday, snapping a two-session slide as positive cues from Asian currencies and a softer crude oil outlook offered support. The local unit had closed at 85.87 on Wednesday.According to forex traders, the rupee opened at 85.86 and traded within a narrow band of 85.67 to 85.96 during the day before ending at 85.80. While the gain was modest, it marked a break from the recent downward pressure driven by a firm dollar index and global uncertainty, PTI reported.“The rupee may remain under pressure due to strong US dollar sentiment and elevated crude prices,” said Anuj Choudhary, research analyst at Mirae Asset Sharekhan. “However, fresh FII inflows could offer some support at lower levels. Market attention is now on the RBI policy decision due Friday.”Traders are also watching out for the US non-farm payrolls data and weekly jobless claims, which could sway the dollar’s direction. The US dollar index, which measures the greenback against six currencies, was up 0.06% at 98.85.The Reserve Bank of India’s Monetary Policy Committee began its three-day meeting on Wednesday, with the outcome due on June 6. While the central bank is expected to maintain status quo, some analysts have flagged the possibility of a 25-basis-point rate cut.On the energy front, Brent crude futures edged up 0.31% to $65.05 per barrel — still low enough to benefit net oil importers like India.Meanwhile, the domestic equity market remained upbeat. The BSE Sensex climbed 443.79 points (0.55%) to close at 81,442.04, while the Nifty added 130.70 points (0.53%) to end at 24,750.90.Foreign institutional investors were net buyers on Wednesday, picking up shares worth Rs 1,076.18 crore, according to exchange data.