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Indian equity markets are set for a positive opening on Wednesday, with the Gift Nifty, an early indicator for the Nifty 50 index, edging 0.07% higher to 25,282 at 8:25 a.m. IST.

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The markets ended lower on Tuesday for a second straight session, with all major sectors in the red, and PSU banks, metals, and consumer durables being the biggest laggards.

All major Asian markets were up on Wednesday, with South Korea’s KOSPI and Japan’s Nikkei leading the gains.

At the time of writing, the gold spot price climbed 1.59% to $4,178.08 per ounce. Brent crude traded down 0.26% at $62.23 per barrel.

Stock Watch

Saatvik Green Energy: Subsidiary Saatvik Solar Industries won solar PV module supply orders worth ₹689.47 crore from multiple independent power producers and EPC players.

Vedanta & Jaiprakash Associates: CCI approved Vedanta’s acquisition of Jaiprakash Associates under the corporate insolvency resolution process.

Mishra Dhatu Nigam: Secured a fresh order worth ₹306 crore, raising its total open order book to around ₹2,212 crore.

DCM Shriram: Commissioned a 35,000 TPA Epichlorohydrin (ECH) plant at Jhagadia, Gujarat.

GR Infraprojects: The Income Tax Department completed a search operation across company offices and promoter residences; business operations remain unaffected.

Ola Electric Mobility: Plans to launch its first non-vehicle product in the energy segment on October 17, with the reveal slated for Diwali.

Hyundai Motor India: MD Unsoo Kim will return to South Korea by December 2025; Tarun Garg will take over as MD & CEO effective January 1, 2026.

Lemon Tree Hotels: Signed a license agreement for a new hotel in Gandhidham, to be managed by its subsidiary, Carnation Hotels.

Keystone Realtors: Promoters will sell up to 45.76 lakh shares (3.63% stake) via OFS on October 15–16 at a floor price of ₹550 per share.

Results Impact

Tech Mahindra: Q2 profit declined 4.4% to ₹1,194.5 crore, while revenue rose 5.1% to ₹13,994.9 crore. EBIT jumped 32.7% with margins expanding to 12.14%, and deal wins surged to $3.17 billion. The company announced an interim dividend of ₹15 per share.

Persistent Systems: Profit soared 45.1% to ₹471.5 crore on a 23.6% revenue rise to ₹3,580.7 crore. EBIT grew 43.5% with margins improving to 16.3%, and dollar revenue climbed 17.6% to $406.2 million.

ICICI Lombard General Insurance: Profit increased 18.1% to ₹820 crore, while gross premium written rose 1.6% to ₹7,058.9 crore. Total income grew 12.5%, and the combined ratio edged up to 105.1%. The board approved an interim dividend of ₹6.5 per share.

Cyient DLM: Profit more than doubled to ₹32.1 crore despite a 20.2% decline in revenue to ₹310.6 crore. Other income rose sharply by 219%, while material costs dropped 30.7%.

Thyrocare Technologies: Profit jumped 81% to ₹47.8 crore on a 22.1% rise in revenue to ₹216.5 crore. The company declared an interim dividend of ₹7 per share and announced a 2:1 bonus share issue.

Kolte-Patil Developers: Sales value declined 13% to ₹670 crore and volume dropped 17% to 0.86 million sq. ft., while realisation improved 5% and collections rose 8% to ₹596 crore.

Sula Vineyards: Revenue slipped 1.1% to ₹139.7 crore as Own Brands sales fell 2.5%, though Wine Tourism revenue increased 7.7% to ₹13.2 crore.

Ashiana Housing: Area booked fell 43.4% to 4.13 lakh sq. ft. and value sold dropped 54.9% to ₹303.4 crore, reflecting a sharp slowdown in sales.

Q2 Results Today

Axis Bank, HDFC Life Insurance Company, HDFC Asset Management Company, HDB Financial Services, L&T Finance, Angel One, Delta Corp, Heritage Foods, Indian Railway Finance Corporation, KEI Industries, Mangalore Refinery and Petrochemicals, Muthoot Capital Services, Network 18 Media & Investments, Nuvoco Vistas Corporation, Oberoi Realty, Quick Heal Technologies, Rossari Biotech, Tata Communications, and Urja Global.

Active IPOs

Midwest

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