Overview
- Benchmarks extended gains on Wednesday on improved India–US trade prospects, with the Nifty closing at 25,875.80 after reclaiming 25,800 and traders eyeing the 26,000–26,100 zone, according to Religare Broking.
- Tata Steel posted a sharp Q2 beat with net profit at Rs 3,183 crore, up about 319% year on year, revenue up 8.9%, and stronger margins near the mid-teens.
- The government reiterated objections to Vedanta’s proposed demerger citing roughly Rs 16,700 crore in pending claims, as the NCLT concluded hearings and reserved its decision.
- SBI signed a non-binding term sheet to acquire a 9.9% stake in CareEdge Global IFSC, while NIIF II prepared a block sale of up to 2.34% in Ather Energy at a Rs 620 floor price.
- Sector moves were mixed as IRCTC reported an 11% profit rise and declared a Rs 5 interim dividend, while Cochin Shipyard’s profit fell 43% and SpiceJet’s quarterly loss widened to Rs 621 crore.