Asian markets traded mixed on Wednesday following overnight losses on Wall Street.Japan’s Nikkei 225 fell 0.4%, while the Topix rose 0.1%. South Korea’s Kospi gained 0.6%, while the Kosdaq declined 0.4%US stock market ended lower on Tuesday as investors exercised caution ahead of the Federal Reserve’s monetary policy announcement.Here’s a table showing how US stocks performed on Tuesday:
Source: EquitymasterAt present, the BSE Sensex is trading 63 points lower and NSE Nifty is trading 18 points lower.Wipro, Cipla, and Sun Pharma are among the top gainers today.Tata Motors, Maruti Suzuki, and L&T hand are among the top losers today.The BSE Midcap index and the BSE Smallcap index are trading marginally lower.Sectoral indices are trading mixed today with stocks in the telecom sector and the FMCG sector witnessing the most buying. Meanwhile, stocks in the power sector and capital goods sector witnessing selling pressure.The rupee is trading at Rs 84.93 against the US dollar.In commodity markets, gold prices are trading marginally lower at Rs 76,850 per 10 grams today.
NHPC Targets 50 GWState-run hydropower company NHPC Ltd plans to raise its total installed capacity to 23 gigawatts (GW) by 2032 from its current capacity of 7.2 GW. By 2047, the company aims to increase the total capacity to more than 50 GW, the company’s Chairman and Managing Director, Raj Kumar Chaudhary, said in an interview.The company is optimistic about increasing its net profit to Rs 45 bn in the next financial year 2025-26. The company reported a decline of 37% in consolidated net profit to Rs 10.7 bn in the second quarter of the current financial year.Currently, we are operating 28 power stations with a total installed capacity of 7.2 GW. Additionally, 15 projects with a combined capacity of 10,604 MW are under various stages of construction.Out of these, we aim to commission the 800 MW Parbati-II HE Project by March 2025 and three units of 250 MW each of the 2000 MW Subansiri Lower HE Project by May 2025.Upon completion, these projects will collectively contribute an additional 6,500 million units of electricity generation in the next financial year.
Aurobindo Pharma’s FDA Inspection
The pharmaceutical company announced that the United States Food and Drug Administration (FDA) completed an inspection of Unit-V, an active pharmaceutical ingredient (API) manufacturing facility of its wholly-owned subsidiary, Apitoria Pharma Private Ltd.The inspection, conducted from 9-17 December 2024, took place at the company’s facility located in Telangana.The FDA closed the inspection with two observations, which are described as procedural in nature.
Ambuja Cements Subsidiaries AmalgamationAdani Group firm announced the amalgamation of its subsidiaries, Sanghi Industries Ltd (SIL) and Penna Cement Industries Ltd (PCIL), with the parent company.The announcement follows the introduction of separate schemes of arrangement for both subsidiaries, paving the way for their integration into Ambuja Cements.Ambuja Cements will issue 12 equity shares of the face value of Rs 2 each for every 100 equity shares of SIL of the face value of Rs 10 each as recommended by the valuers and accepted by the board.
Exide Industries Invests in SubsidiaryBattery maker said it has invested Rs 1 bn in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL), through a rights issue of 27.7 m equity shares.This investment brings the total capital infusion into EESL to Rs 31.5 bn.The latest move aims to fund EESL’s greenfield project in Bengaluru, where the company is setting up a manufacturing facility for lithium-ion battery cells, modules, and packs for India’s growing electric vehicle market.The company has invested in EESL on the right basis to establish a green field plant in Bengaluru for manufacturing & selling lithium-ion battery cells, modules and pack batteries.
LTI Mindtree Gets Stay OrderLTIMindtree Ltd. on Tuesday secured a relief on GST demand of Rs 880 m after the Karnataka High Court stayed the proceedings till the next date of hearing.The company was slapped with a demand of Rs 440 m, a penalty of an equal amount, and interest as applicable for the period from April 2018 to January 2023 from the office of the Principal Commissioner of Central Tax, Bengaluru.The demand was raised in September. The software maker filed a writ petition on 9 December with the Karnataka High Court challenging the legality and validity of the order issued under section 74 of the CGST Act, 2017, and KGST Act, 2017. It involves denial of zero-rated supply, thereby leading to the recovery of input tax credit refunds granted earlier.More By This Author:Sensex Today Tanks 1,064 Points; Nifty Ends Below 23,350Sensex Today Trades Lower; Nifty Below 24,650Sensex Today Ends 384 Points Lower; Nifty Below 24,700
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