Stock Market Live: Phoenix Mills Refutes Arm Acquiring Mcleod Russel 

The Phoenix Mills has categorically denied rumors regarding the acquisition of McLeod Russel by the Ruia family. The company has refuted and rejected these claims as baseless in its exchange filing.

Stock Market Live: Eternal Share Price Rises For Third Day 

Zomato’s parent Eternal Ltd. share priced extended rally to a third day after posting better-than-expected rise in revenues. The share price rose 1.25% to Rs 303.55 apiece so far today. It was trading 0.87% higher at Rs 302.4 apiece as of 9:32 a.m.

Paytm Shares Swing As Historic Profitability Fails To Impress Investors

Shares of One97 Communications Ltd., the parent company of Paytm, swinged on Wednesday after the fintech firm reported its first quarterly net profit since going public in 2021.

Sectoral Performance At Open: Nifty Auto Outperforms 

On NSE, 14 sectoral indices advanced, and one declined out of 15. The NSE Nifty Auto outperformed, and the NSE Nifty Realty declined the most.

Nifty Contributors: RIL, Infosys, And ICICI Bank Support Gains 

Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., and Larsen & Toubro Ltd. added to the Nifty 50 index.

HDFC Bank Ltd., ITC Ltd., Eternal Ltd., Oil and Natural Gas Corp, and Eicher Motors Ltd. limited losses in the Nifty 50 index.

Market Open: Nifty, Sensex Advance As RIL, Infosys Rise 

The Nifty 50 and Sensex opened higher on Wednesday as heavyweight Reliance Industries and Infosys advanced. Gains on global equities also supported Indian benchmark indices.

Stock Market Today: Nifty, Sensex Rise At Pre-Open 

At pre-open, the NSE Nifty 50 was trading 0.32% higher at 25,139.35, and the BSE Sensex was trading 0.31% higher at 82,441.55.

Yield On The 10-Year Bond Opens Flat

  • The 10-year bond yield opened flat at 6.36%

Source: Cogencis

Rupee Opens weaker Against US Dollar

  • Rupee opened 4 paise weaker against US Dollar at 86.41

  • It closed at 86.37 a dollar on Tuesday.

Source: Cogencis

Stock Market Live: Biocon’s Arm Launches Nepexto In Australia 

Biocon Biologics, a subsidiary of Biocon, has launched Nepexto, a biosimilar to Enbrel, in Australia. Nepexto is indicated for the treatment of autoimmune conditions like rheumatoid arthritis and psoriatic arthritis.

Stock Market Today: Brokerages On Paytm 

Bernstein

  • Maintain Outperform with a target price of Rs 1,100

  • Q1 a positive net profit line – an important milestone for the business

  • Profitability was achieved despite revenue staying almost unchanged QoQ

  • There were no one-offs driving the profitability this quarter

  • Believe the business will remain profitable in the quarters ahead

  • Sustainability of current levels of PAT will depend on sequential revenue growth

BofA on Paytm

  • Maintain Neutral; Hike with a target price to Rs 1,160 from Rs 1,005

  • Q1: In-line revenues but profitability beat; Turns PAT positive

  • Guidance at 50’s range for contribution margin & 15-20% EBITDA margin

  • Post Q1, raise multiples in SOTP given healthy biz execution

Stock Market Today: Brokerages On Dixon Technologies 

Investec

  • Maintain Buy with a target price of Rs 20,000

  • Strong Q1; results allay competition fears

  • Q1 2-4% ahead of our est and 6-7% higher than consensus

  • Mgmt sounded confident of Mobile vols continuing to ramp-up

  • With Dixon focussing on components, it is strengthening its competitive positioning and increasing customer stickiness

  • Forecast EBITDA/PAT CAGRs of 38%/ 41% over FY25-28

  • Like mgmt’s opportunistic approach and focus on increasing value addition without compromising on capital efficiency

Goldman Sachs

  • Maintain Sell; Hike target price to Rs 11,110 from Rs 11,030

  • Good ramp-up; remain Sell on valuation and moderation of growth ahead

  • Value addition is good, whether it drives EMS customer stickiness is yet to be seen

  • See limited potential for the company to surprise on already optimistic-looking estimates

Oil Prices Rebound From Three-Day Slump 

Oil prices rebounded from a three-day slump on Wednesday after the US announced a trade deal with Japan and Philippines. The brent crude was trading 0.39% higher at $68.86 a barrel as of 7:57 a.m.

Asia Market Update: Nikkei 225 Jumps Nearly 3% After Japan Strikes Deal With US 

Japan’s benchmark index the Nikkei 225 jumped nearly 3% as the country sealed a trade deal with the US before the deadline. The Asian country will face now 15% tariff from the US compared to 25% imposed earlier. It will also invest $550 billion in the world’s largest economy while opening its automobile, and agricultural sectors.

The Nikkei 225 was trading 2.70% higher at 40,856.50 as of 7:45 a.m.

US Market Update: Futures Rise As Trump Announces Trade Deal With Japan

US stock futures advanced in Asia session after US President Donald Trump announced a trade deal with Japan. As per the terms of the deal, Japan will invest $550 billion in the US.

Both the Dow Jones Industrial Average and S&P 500 Futures were trading 0.22% higher as of 7:39 a.m.

GIFT Nifty Implies Positive Open; Bajaj Finance, Paytm, Dixon Tech Shares In Focus

The GIFT Nifty was trading 0.10% or 26 points higher at 25,165 as of 6:55 a.m., which implied a positive start for the NSE Nifty 50 index.

Market participants will likely focus on Bajaj Finance Ltd. One 97 Communication Ltd., Dixon Technologies (India) Ltd., and Zensar Technologies shares will likely be in focus in Wednesday’s session because of the overnight news and first earnings.

The benchmark equity indices end the session on a flat note on Tuesday as shares of Reliance Industries Ltd. and Infosys Ltd. weighed. The NSE Nifty 50 ended 29.8 points or 0.12% lower at 25,060.9, while the BSE Sensex closed 13.53 points or 0.02% down at 82,186.81.

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