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The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open cautiously on Wednesday after a sharp fall in the previous session and amid mixed global market cues.
Gift Nifty was trading around 23,180 level, a premium of nearly 27 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
US stock market ended mixed on Tuesday after US Federal Reserve Chair Jerome Powell’s latest comments. The Dow Jones Industrial Average gained 0.28% to 44,593.65, while the S&P 500 rose 0.03%, ending at 6,068.50. The Nasdaq closed 0.36% lower at 19,643.86.
Asian markets traded mixed on Wednesday, following a similar move overnight on Wall Street. Japan’s Nikkei 225 gained 0.71%, while the Topix rose 0.22%. South Korea’s Kospi fell 0.21% and the Kosdaq declined 0.36%. Hong Kong’s Hang Seng index futures indicated a stronger opening.
STOCKS TODAY
Adani Group: Stocks of the Gautam Adani-led conglomerate are expected to remain in focus following reports that U.S. President Donald Trump has paused the enforcement of the foreign bribery law. This development could potentially impact the group’s business prospects. Several U.S. Congress members had earlier urged the newly appointed U.S. Attorney General to investigate the Department of Justice’s (DoJ) indictment of Adani Group officials. According to a PTI report, Trump signed an executive order instructing the DoJ to pause enforcement of the nearly 50-year-old law, which had been used to initiate a bribery investigation against the Adani Group.
Vodafone Idea: Vodafone Idea reported a reduction in its consolidated net loss for the December quarter to ₹6,609 crore, compared to ₹6,986 crore in the same period last year. Revenue from operations for Q3FY25 stood at ₹11,117 crore, marking a 4 percent year-on-year increase from ₹10,673 crore in the corresponding quarter of the previous financial year. Sequentially, the company’s losses declined, as it had posted a consolidated loss of ₹7,176 crore in the July-September quarter.
IRCON International: IRCON International announced its Q3FY25 results, reporting a sharp 65 percent decline in consolidated net profit to ₹86 crore, compared to ₹244.70 crore in the corresponding period last year. Revenue from operations fell 10 percent to ₹2,612.86 crore from ₹2,929.54 crore in the year-ago period. The company’s total order book stood at ₹21,939 crore, comprising ₹17,075 crore in railway projects, ₹4,775 crore in highways, and ₹89 crore in other sectors.
Vedanta: Vedanta’s committee of directors approved the company’s plan to raise ₹3,000 crore through the issuance of unsecured, rated, listed, redeemable non-convertible debentures (NCDs) via a private placement. The company will issue up to 3 lakh securities with a face value of ₹1,00,000 per NCD. The securities will be listed on the BSE.
IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) reported a 14 percent increase in its standalone net profit for the December quarter at ₹341 crore, compared to ₹300 crore in the same period last year. Q3FY25 revenue from operations rose 10 percent year-on-year to ₹1,225 crore from ₹1,115 crore. The company also declared a second interim dividend of ₹3 per equity share for FY25.
BHEL: Bharat Heavy Electricals Ltd (BHEL) announced that it had received a Letter of Intent (LoI) from Damodar Valley Corporation (DVC) for the steam generator island package of the 2×660 MW Raghunathpur Thermal Power Station Phase-II project in Purulia, West Bengal. The contract, valued at approximately ₹6,200 crore (excluding taxes and duties), was awarded through international competitive bidding.