Indian equity markets are expected to open on a subdued note on Wednesday, with early indicators pointing to weakness. GIFT Nifty declined by 133 points, or 0.54%, to trade at 24,442, signalling a cautious start for domestic markets. Global cues remain mixed.
US President Donald Trump has announced an indefinite ceasefire with Iran, while stating that the US naval blockade will continue until a formal agreement is reached. The development is being viewed as a significant geopolitical event related to the US-Iran ceasefire.
Asian equity markets are trading mixed, while US markets closed lower in the previous session, impacting global investor sentiment. Analysts indicate that investors are closely monitoring geopolitical risks and corporate earnings, contributing to continued market volatility.
Several major companies are scheduled to announce their fourth-quarter (Q4) results, including SBI Life Insurance, Tech Mahindra, Trent, Oracle Financial Services Software, Havells India, and Tata Communications. These results are expected to provide direction for the IT, retail, and insurance sectors.
HCL Technologies reported a profit of ₹4,488 crore for the January–March quarter, reflecting a 4.2% increase. Revenue rose 12.3% to ₹33,981 crore. The company also announced a dividend of ₹24 per share.
Tata Elxsi posted a 27.8% increase in profit to ₹220.4 crore, while revenue grew 9.4% to ₹993.8 crore.
Persistent Systems reported a 33.7% rise in profit to ₹529.3 crore, with revenue increasing 25.1% to ₹4,055.9 crore.
Cyient DLM reported a 27.7% decline in profit to ₹22.4 crore, alongside a decrease in revenue.
Sunteck Realty recorded a 24.7% increase in profit, with revenue rising 64.5% to ₹339 crore.
Aurobindo Pharma will commence a share buyback worth ₹800 crore from April 23 at a price of ₹1,475 per share, which will continue until April 29.
State Bank of India has promoted eight officials to the position of Deputy Managing Director. HDFC Life Insurance Company has approved the reappointment of Vibha Padalkar as Managing Director and Chief Executive Officer.
PNC Infratech has emerged as the lowest bidder (L1) for highway projects worth ₹3,483 crore. BEML has secured a ₹590 crore contract from the Ministry of Defence. Karnataka Bank has entered into a strategic partnership with Pine Labs to strengthen digital payments.
