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According to an average estimate from four brokerages, quarterly revenue from operations is expected to increase by 9% year-on-year, while net profit may grow by 10%. EBITDA margins are projected to improve by 57 basis points year-on-year, driven primarily by a higher share of premium motorcycle sales, export growth, price hikes, and cost-control efforts. The richer product mix is anticipated to further support the margin expansion.

The Nifty Pharma index closed 1.55 per cent at 21809.30.

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RIL shares have faced notable pressure in recent months, declining 10.2% over the past 6 months and 13.9% in the past 3 months. Despite this, the stock is up 8.9% over the past year.

NTPC Green Energy is set to launch its IPO. The company plans to raise Rs 10,000 crore. The IPO proceeds will fund ongoing and future green energy projects. NTPC Green Energy is confident in its competitive pricing strategy. The company aims to maintain strong financial performance and deliver value to investors.

Food delivery giant Zomato welcomed rival Swiggy’s debut on Dalal Street on Wednesday through a post on X, formerly known as Twitter.

Indian stock markets experienced a significant drop on Wednesday, with the Sensex plummeting over 980 points and the Nifty falling below 23,600. This decline was primarily fueled by a surge in inflation, which dampened expectations of an interest rate cut in the near future. The slump was further exacerbated by disappointing corporate earnings and a consistent outflow of foreign investments.

The Indian rupee closed nearly unchanged on Wednesday, as dollar sales by state-run banks helped the currency withstand pressure from equity outflows and persistent strength in the U.S. dollar.

After hitting a record high of $89,956 on Tuesday, Bitcoin experienced some profit-taking on Wednesday. By 12:32 pm, the cryptocurrency was trading 3% lower at $86,740.

While the headline indices will be treated in bear grip if they fall below 20% from the peak, retail investor portfolios are already reflecting signs of a bear market as more than 900 stocks above Rs 1,000 crore market capitalisation are down at least 20% from their 52-week high levels.