The benchmark indices opened lower and remained in negative territory throughout the session, eventually closing in the red.
Indian equity benchmark indices, the Sensex and Nifty 50, recovered some of their intraday losses on Wednesday as renewed buying interest in auto and select banking stocks supported the market.
At the closing bell, the BSE Sensex closed 353 points lower (down 0.4%)
Meanwhile, the NSE Nifty closed 51 points lower (down 0.2%)
SBI, Trent, Axis Bank are the top gainers today.
Infosys, TCS, Tech Mahindra on the other hand, were among the top losers today.
The GIFT Nifty was trading at 22,752 with 59 points lower at the time of writing.
The BSE 150 Midcap index is trading 0.5% higher and the BSE 250 SmallCap index is trading 0.3% higher.
Sectoral indices traded mixed today, with stocks in IT sector and energy sector witnessed selling pressure. Meanwhile, stocks in healthcare sector and consumer durable sector witnessed buying.
The rupee is trading at Rs 95.2 against the US$.
Gold prices for the latest contract on MCX are trading lower at Rs 1,44,130 per 10 grams.
Meanwhile, silver prices were trading 0.8% lower at 1,95,075 per 1 kg.
Tata Capitals Q2 FY27 Results
Shares of Tata Capital came into focus after the company reported its Q2 FY27 results.
Tata Capital reported a 51% year-on-year (YoY) increase in consolidated net profit to Rs 16.60 billion (bn) in Q2 FY27, compared with Rs 10.97 bn in the same quarter last year.
However, its net interest margin (NIM) declined by 9 basis points quarter-on-quarter (QoQ) to around 4.9%, marking the fourth consecutive quarterly decline. This was mainly due to a 13-basis-point rise in the calculated cost of funds, higher than the 6-7-basis-point increase recorded by major peers.
As a result, net interest income (NII) grew by 23% to Rs 37 bn, trailing the company's 26% growth in assets under management (AUM).
Despite the pressure on margins, management maintained its existing guidance, targeting medium-term AUM growth of 23-25%. The company expects NIM plus fees to remain stable or improve slightly in Q3, followed by a stronger recovery in Q4 FY27, supported by pricing changes and a better product mix.
Piramal Pharma Q2 FY27 Results
Shares of Piramal Pharma came into focus after the company reported its Q2 FY27 results.
Piramal Pharma reported a profit after tax of Rs 50 million in Q2 FY27, compared with a loss of Rs 990 million in the same quarter last year.
Revenue increased 28% year-on-year (YoY) to Rs 26.17 bn, supported by strong performance across all three business segments. EBITDA rose 72% to Rs 3.85 bn, while the EBITDA margin expanded by 370 basis points to 14.7%.
The improvement in profitability was driven by higher capacity utilisation, better operating efficiency, disciplined execution and continued cost-saving measures.
Looking ahead, management expects the second half of the financial year to be stronger than the first. Supported by a healthy order book and encouraging customer demand, the company has raised its FY27 outlook and now expects revenue growth of 19-20%, along with a significant improvement in profitability.
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