Sensex Today Rallies 969 Points; Tata Steel & Bajaj Finance Top Gainers

Asian markets traded higher on Wednesday amid reports of peace talks between the US and Iran.

US stock market ended lower on Tuesday amid volatility as uncertainty persists around the Iran war and elevated oil prices.

Here's a table showing how US stocks performed on Tuesday:

Source: Equitymaster

At present, the BSE Sensex is trading 969 points higher, and the NSE Nifty is trading 327 points higher.

Trent, M&M, and HDFC Bank are among the top gainers today.

Tech Mahindra, TCS, and HCL Tech, on the other hand, are among the top losers today.

The BSE 150 Midcap index is trading 1.5% higher, and the BSE 250 Smallcap index is trading 1.1% higher.

Barring the IT sector, all other sectoral indices are trading positively today, with stocks in the metal sector and the realty sector witnessed buying.

The rupee is trading at Rs 93.9 against the US dollar.

Tata Steel strengthens ownership in TSHP

Tata Steel Limited has subscribed to equity shares of its wholly owned foreign subsidiary, T Steel Holdings Pte. Ltd (TSHP).

As part of this transaction, the company acquired 178,57,14,286 equity shares with a face value of USD 0.1008 each, amounting to a total investment of USD 180 million (approximately Rs 16.80 billion) in TSHP on 24 March 2026.

Following this acquisition, TSHP continues to remain a wholly owned foreign subsidiary of Tata Steel Limited.

IRFC Signs Major Refinancing Deal with HURL

The Board of Directors of TVS Motor Company Limited, at its meeting has declared an interim dividend of Rs 12 per equity share (1200%) on 47,50,87,114 fully paid-up equity shares of Rs 1 each.

The total dividend outgo amounts to approximately Rs 5.7 bn for the financial year ending 31 March 2026.

The interim dividend will be paid to shareholders holding shares either in physical or electronic form whose names appear in the Register of Members or Depositories, respectively, as of the close of business hours on the record date. The dividend will be disbursed within 30 days from the date of declaration, in line with the provisions of the Companies Act, 2013.

Waaree Energies Expands Stake and Glass Capacity

Waaree Energies Limited has proposed the acquisition of an additional equity stake in its subsidiary, Waaree Transpower Private Limited (formerly known as Kotsons Private Limited, "WTPL"). Following this transaction, the company's shareholding in WTPL will increase from 64.04% (as previously disclosed on 7 October 2025) to 75.10% of the paid-up equity share capital.

WTPL is engaged in the designing, manufacturing, and supply of advanced transformer solutions. The proposed acquisition constitutes a related party transaction, as WTPL is a subsidiary of Waaree Energies Limited; however, the transaction is being undertaken at arm's length pricing.

The objective of the acquisition is to support capacity expansion and meet capital expenditure requirements of the subsidiary. The consideration for the acquisition is in cash, with shares being acquired at a price of Rs 75 per equity share having a face value of Rs 10 each. In total, 2.53 crore equity shares will be acquired, aggregating to approximately Rs 1.9 bn.

The acquisition is expected to be completed by June 2026.

Additionally, Waaree Energies Limited has approved capital expenditure of approximately Rs 39 bn for setting up a glass manufacturing plant through its wholly owned subsidiary, Waaree Green Glass Private Limited, with a planned capacity of 2,500 TPD. The capital expenditure will be funded through a mix of debt and internal accruals.