Most markets in Asia-Pacific region erased opening losses. The indices fell at open, tracking an overnight sell-off on Wall Street as US Federal Reserve Chair Jerome Powell’s speech implied a potential persistent inflation because of tariff.

The Nikkei 225 and Kospi were trading 0.46% and 0.52% higher, respectively as of 6:42 a.m. The S&P ASX 200 was 0.31% up.

Powell said in a speech at the Economic Club of Chicago that the central bank must ensure that tariffs do not result in persistent inflation. Fed is on wait and watch mode as far as the tariff impact is concerned.

On Wednesday, the Dow Jones Industrial Average and S&P 500 ended 1.73% and 2.24% down, respectively. The Nasdaq Composite ended 3.07% lower.

The dollar index was trading 0.23% higher at 99.1. Brent crude was trading 0.47% up at $66.16 a barrel. The Bloomberg spot gold was trading 0.36% higher at $3,355.21 an ounce.

The GIFT Nifty was trading 0.26% higher at 23,433.50 as of 6:50 a.m.

Indian benchmark indices continued their upward trajectory to close higher for the third consecutive trading session on Wednesday.

The NSE Nifty 50 closed 108.65 points or 0.47% higher at 23,437.2, while the BSE Sensex ended 309.40 points or 0.4% up at 77,044.29.

Foreign portfolio investors stayed net buyers of Indian equities on Wednesday for the second session as they mopped up stocks worth Rs 3,936.4 crore. Domestic institutional investors stayed net sellers for a second time, as they net offloaded equities worth Rs 2,512.8 crore, according to provisional data from the National Stock Exchange.

Earnings In Focus

HDFC Asset Management Co., HDFC Life Insurance Co., Infosys Ltd. and Tata Elxsi Ltd.

Earnings Post Market Hours

Wipro Q4 FY25 (Consolidated, QoQ)

  • Revenue up 0.8% at Rs 22,504 crore versus Rs 22,319 crore (Bloomberg estimate at Rs 22,685 crore).

  • EBIT up 1% at Rs 3,902 crore versus Rs 3,863 crore (Bloomberg estimate at Rs 3,924 crore).

  • EBIT margin flat at 17.3% (Bloomberg estimate at 17.3%).

  • Net profit up 6.6% at Rs 3,588 crore versus Rs 3,367 crore (Bloomberg estimate at Rs 3,317 crore).

Waaree Renewable Technologies Q4 (Consolidated, YoY)

  • Revenue up 74.4% at Rs 477 crore versus Rs 273 crore.

  • Ebitda up 67.8% at Rs 126 crore versus Rs 75.3 crore.

  • Margin at 26.5% versus 27.5%.

  • Net profit up 82.8% at Rs 93.8 crore versus Rs 51.3 crore.

Angel One Q4 (Consolidated, YoY)

  • Total income down 22.1% at Rs 1,058 crore versus Rs 1,359 crore.

  • Net Profit down 48.7% at Rs 175 crore versus Rs 340 crore.

  • Approves and recommends final dividend of RS 26 per share.

GTPL Hathway (Consolidated, YoY)

  • Revenue up 10.27% at Rs 890.99 crore versus Rs 807.98 crore.

  • Ebitda down 5.69% at Rs 106.49 crore versus Rs 112.91 crore.

  • Margin at 11.95% versus 13.97% down 202 bps.

  • Net profit down 19.27% at Rs 10.64 crore versus Rs 13.18 crore.

Stocks To Watch

  • Zydus Lifesciences: The company clarified the recent US court ruling against it regarding patent validity in the Myrbetriq case. It stated that it is assessing the order’s potential impact and confirmed that no negotiations are ongoing as the matter pertains to patent-related issues. The company attributed the stock decline to the Delaware court ruling.

  • Lupin: The company confirmed that a US court has issued an order regarding the Myrbetriq Patent Case. Lupin clarified that it is not aware of any information that has not been disclosed to stock exchanges. The company is in the process of notifying exchanges about the court order within the required timeline. It is currently evaluating the order’s impact and will provide updates to the exchanges once the assessment is complete.

  • One 97 Communications: Vijay Shekhar Sharma, managing director and chief executive officer, announced that he has voluntarily relinquished his allotted 2.1 crore ESOPs. Consequently, a one-time acceleration of ESOP expenses amounting to Rs 492 crore will occur in the fourth quarter of fiscal 2025.

  • Gensol Engineering: The company acknowledges SEBI’s interim order and confirms compliance with its directives. Anmol Singh Jaggi and Puneet Singh Jaggi have stepped down from management roles in Gensol as per SEBI’s directions.

  • UltraTech Cement: The company has signed an agreement to acquire a 26% stake in Ampin C&I Power Eight Pvt. for Rs 25.5 crore, aiming to fulfill green energy requirements and optimize energy expenses.

  • DLF: The company has signed a master framework agreement with Srijan Realty to sell IT/ITeS SEZ land in Kolkata for Rs 693 crore.

  • 360 One Wam: The company plans to evaluate a proposal for raising funds preferentially through the issuance of equity shares and/or warrants.

  • Glenmark Pharmaceuticals: The company plans to launch its Dextroamphetamine-Amphetamine tablets, bioequivalent to Adderall, with distribution starting in May 2025. IQVIA sales data shows the Adderall tablet market reached approximately $421.7 million in annual sales as of February 2025.

  • Deepak Nitrite: Deepak Chem Tech, a subsidiary, has issued and allotted 1.63 crore convertible redeemable preference shares with a face value of Rs 100 each to Deepak Phenolics, another wholly owned subsidiary.

  • Bharat Heavy Electricals: The company has signed a technology transfer agreement with Bhabha Atomic Research Centre for separator applications in electrochemical cells.

  • Metropolis Healthcare: The company announces that the acquisition of Ashok Kumar Sharma’s Scientific Pathology, initially expected to conclude within 45 days of signing the securities subscription-cum-shareholders agreement, will now require an additional 45 days to complete.

  • SML Isuzu: Yasushi Nishikawa will Join the company as the managing director and chief executive officer.

  • AWL Agri Business: The company has acquired an 80% stake in G. D. Foods Manufacturing (India) Pvt.

  • Reliance Industrial Infrastructure: The company’s board has recommended a dividend of Rs 3.5 per share.

  • Tanla Platforms: The company has collaborated with two international telecom providers to implement messaging as a platform for rich media communication.

  • Home First Finance Co: The company has successfully raised Rs 1,250 crore through a qualified institutional placement

  • Muthoot Capital Services: The company plans to consider a proposal for raising funds through bonds on April 22.

  • MSTC: The company has received an income tax demand of Rs 178.4 crore, which includes Rs 27.9 crore in interest, for the assessment year 2025.

  • Bajaj Electricals: The company has announced a partnership with SEAK s.r.o., a Slovakia-based leader in smart lighting and EV charging control systems. According to the CEO, this collaboration represents a significant step forward in the company’s efforts to revolutionize tunnel lighting in India.

  • Petronet LNG: The company has approved the appointment of Saurav Mitra as CFO, effective from April 18.

  • SBI Cards and Payment Services: The company has partnered with Tata Digital to introduce the Tata Neu SBI Card.

  • Coforge: The company’s Australian arm, Coforge Tech Australia’s subsidiary has acquired 100% of shares of TMLabs Pty.

  • Laxmi Dental: The company plans to acquire shares worth up to $1 million in its foreign subsidiary, Laxmi Dental Lab USA INC, to finalise the terms of a strategic investment. Necessary approval for the fund transfer has been secured from the RBI.

  • Delta Corp: The debentures of Peninsula Land have been converted into shares.

Bulk/Block Deals

  • Gensol Engineering: Neo Apex Venture bought 2.9 shares or 0.76% equity at Rs 122.68 each. Multiplier Share & Stock Advisors sold 3.15 lakh shares or 0.83% equity.

  • Sami Hotels: E City Real Estates bought 12.5 lakh shares or 0.56% equity at Rs 171.56 each.

Trading Tweaks

  • Price band change for Garware Hi-Tech Films Ltd. from 10% to 5%

  • Ex date and record date of dividend for Sanofi Consumer Healthcare India.

  • List of securities to be added in short-term ASM: Paradeep Phosphates Ltd., Websol Energy System Ltd.

F&O Cues

  • Nifty April Futures rose 0.43% at a premium of 3.4 points

  • Nifty April Futures open interest fell 2.21%

  • Nifty April 17 expiry: Maximum call open interest at 24,000, maximum put open interest at 23,300

  • Securities in F&O Ban: Birlasoft, Hindustan Copper, Ireda, Manappuram Finance, Nalco.

Currency Update

The Indian rupee appreciated by nine paise at market close on Wednesday, with easing inflation, a sliding dollar index and lower oil prices lending support.

The local unit closed at 85.68 against the US dollar, extending its slip below the psychological level of 86 for the second session. The rupee had opened at 85.61.

. Read more on Markets by NDTV Profit.The NSE Nifty 50 closed 0.47% higher at 23,437.2, while the BSE Sensex ended 0.4% up at 77,044.29 on Wednesday.  Read MoreMarkets, Notifications 

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