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The fall in net profit of Tata Communications comes even as revenue from operations saw a 10% jump on year at Rs 4872.5 crore in the September quarter of this fiscal as compared to Rs 4430.74 crore in the second quarter of FY23. Revenue growth was driven by Tata Communications’ data business growth, which came in at Rs 3, 995 crore, up 14.1% from the previous year.

Its total income increased to Rs 2,364 crore for the second quarter against Rs 1,833 crore in the year-ago period, Voltas Ltd said in a regulatory filing. The company said its board has approved a proposal to raise up to Rs 500 crore through the issuance of rated, listed, unsecured, redeemable non-convertible debentures on a private placement basis.

Rivals including Rivian Automotive, Lucid Group and Fisker fell between 3.3% and 4.5%, while legacy automakers such as Ford were down around 0.6%. The comments marked a change in tone from Tesla CEO Musk, who had said last year that his company was "recession-resilient". The EV maker missed revenue estimates on Wednesday by the most in more than three years despite hefty price cuts.

The dollar rose against the euro on Wednesday before several Federal Reserve officials were due to speak and as investors watched the war between Hamas and Israel for signs of escalation.

Netflix shares rose to $396.20, putting them on course for the biggest one-day percentage gain in nearly three years, with the company on track to add more than $22 billion to its market capitalization.

According to reports, the offer price is set around Rs 109.4-111.6 per share and the transaction is valued at 1,024 crore. SoftBank holds a 2.17% stake in the company, at the end of September quarter.

The Dow Jones Industrial Average rose 4.44 points, or 0.01%, at the open to 33,669.52. The S&P 500 opened higher by 6.76 points, or 0.16%, at 4,321.36, while the Nasdaq Composite gained 40.50 points, or 0.30%, to 13,354.80 at the opening bell