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Markets rebounded as IT and pharma stocks led gains; Nifty signals recovery but needs to breach 23,500 for sustained bullish momentum.

Wendt (India) Ltd reported consolidated profit for the October-December 2024 quarter at Rs 8.22 crore, the company said on Wednesday.

Under the demerger terms, each HUL shareholder will receive one KWIL share for every HUL share held. After the demerger and KWIL’s listing, KWIL’s entire shareholding will be directly owned by HUL shareholders. HUL stated that KWIL would become a leading listed ice cream company in India, managed by an experienced team with the flexibility and focus needed to implement strategies tailored to its unique business model and market dynamics, enabling it to achieve its full potential.

Indian indices ended higher, driven by IT and financials. Notable stocks included Jana Small Finance Bank (+19.5%), MCX (+4%), KEI Industries (+2.3%), Cyient DLM (-13.55%), and India Cements (-8.35%).

Pankaj Murarka believes the current bull market, though mature, remains robust. Comparing it to the 1999-2000 tech boom, he notes its aggressiveness and strong long-term growth potential despite recent pullbacks.

Over the past year, Bharat BPCL declared equity dividends totalling Rs 10.50 per share. At a share price of Rs 278.10, this results in a dividend yield of 3.78%. Since June 2001, Bharat Petroleum Corporation has announced 41 dividends, as per Trendlyne data, reflecting its consistent track record of rewarding shareholders over the years.

Varun Goel of Mirae Asset suggests the recent 10-15% market correction offers an opportunity to build medium-to-long-term portfolios. Focus on IT, pharma, chemicals, and consumption sectors while avoiding overvalued segments like PSUs and defense.

The survey revealed that 52% of managers expect fiscal deficit to remain below 5% of GDP, reflecting optimism about fiscal discipline. Most participants also anticipated higher government borrowing for FY25, indicating confidence in strategies aimed at supporting economic growth while maintaining fiscal prudence. This highlights a balanced outlook on growth and fiscal management among stakeholders.

Hudco Q3 Results: HUDCO plans to exit its 25% stake in Ind Bank Housing and increases its FY25 borrowing plan by 37.5% to ₹55,000 crore. Q3 net profit surged 42% YoY to ₹735 crore.