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TBO Tek strong listing can be attributed to the unwavering investor confidence in the company’s solid technological foundation and its potential for continued growth in the online travel sector.

The Indian rupee sidestepped gains in its broader Asian peers to end barely changed on Wednesday, as traders awaited the U.S. consumer inflation data for cues on when the Federal Reserve may kick off rate cuts.

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The Nifty Pharma index closed 0.14 per cent up at 18886.55.

Three brokerages expect the auto major’s net profit to be in the range of Rs 1,777 cr - Rs 2,079 crore. The revenue from operations is expected at Rs 24,051 crore. M&M had reported a standalone PAT of Rs 1,549 crore and revenue of Rs 22,571 crore in the last-year period.

IT stocks presented a muted show as investors turn cautious ahead of key US data that will determine future interest rate trends. Sensex dipped 118 points to settle at 72,987. Nifty shed 17 points to end at 22,200.

​Contrary to the debut of TBO Tek, the listing of Aadhar Housing Finance was flat, falling short of expectations. The grey market trends signalled a gain of around 15-20% for investors.

Short covering signals a shift in view on security from extreme bearishness to bullishness.

We cut FY25E/26E EBITDA by 1.6%/4.2% on margin miss. We maintain our ADD recommendation on Chalet, with SOTP-based TP of Rs850/share vs. Rs900/share earlier (SOTPbased Mar-26E EV/EBITDA of 20.5x for hotels and of 16x for rental assets).