Indian share markets finished the trading day on a positive note amid mixed international markets. At the closing bell, the BSE Sensex stood higher by 91 points, while the NSE Nifty finished up by 31 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1.2% and 1.5% respectively. Gains were largely seen in metal and realty sectors.

Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.31%, while China's Shanghai Composite was off 0.22%. Shares in Hong Kong finished flat. European markets are also trading mixed in early trade. The FTSE 100 is higher by 0.58%, while the DAX is & the CAC 40 are down 0.31% and 0.07% respectively.

The rupee was trading at 68.48 against the US$ in the afternoon session. Oil prices were trading at US$ 48.27 at the time of writing.

Axis Bank's share price finished the trading day on an optimistic note (up 1.9%) after it was reported that the company is eyeing raising up to Rs 18 billion from debentures to fund business expansion. These debentures would be Basel III compliant. The Board will consider the proposal to issue and allot the above securities through a circular resolution.

The Bank will raise funds by issuing unsecured redeemable non-convertible subordinated debentures of the face value of Rs 1 million each for cash at par aggregating to Rs 18 billion.

Similarly, Punjab & Sind Bank is planning to raise Basel III Compliant Tier II Bonds through Private Placement aggregating up to Rs 5 billion. Reportedly, the proposed Bonds issue has been rated as "AA" by CARE and 'AA with Stable Outlook-' by Brickwork Ratings.

In another development, Axis Bank has reduced rates on fixed deposits of tenures between one and three years by 25 to 50 basis points (bps). At 7%, the interest rate offered by the bank on one-year deposits, is now on par with that offered by larger rivals - ICICI Bank and HDFC Bank.

Bank of Baroda, Punjab National Bank (PNB), IDBI Bank and Syndicate Bank have also cut rates on one-, two- and three-year deposits by between 10 and 40 bps.

The government's recent move to demonetize notes of Rs 500 and Rs 1,000 denominations has resulted in deposits with banks rising. On Monday, the Reserve Bank of India said banks reported having received deposits worth Rs 5,11,565 crore between November 10, the first working day after demonetization was announced, and November 18.

Moving on to news from pharma stocks. According to a leading financial daily, Sun Pharmaceutical Industries has executed definitive agreements for acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The equity consideration for the 85.1% stake is US$24 million.

Sun Pharma would also assume a debt of approximately US$36 million as part of this transaction. This transaction will give Sun Pharma access to local manufacturing capability across multiple dosage forms in Russia, enabling it to serve the Russia pharmaceutical market more effectively (Subscription Required).

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal Anti-Monopoly Service and other closing conditions. As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately US$10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately US$52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, APIs, etc.

Last month, Sun Pharma announced acquisition of US-based eye care specialist Ocular Technologies Sarl for an upfront payment of US$40 million.

Sun Pharma's share price finished the day up by 1.6% on the BSE.