Sensex Today Trades Higher; HUL & Titan Company Top Gainers

Asian markets traded on a mixed note on Wednesday. Japan led the gains, with the Nikkei 225 climbing 1.79% and the broader Topix advancing 1.07%. In South Korea, the Kospi rose 1.52%, while the small-cap Kosdaq slipped 0.42%.

US market ended June on a strong note on Tuesday, with the S&P 500 and Nasdaq posting their biggest quarterly gains since 2020, as investor optimism over economic resilience and corporate earnings outweighed concerns surrounding the Middle East conflict.

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

Source: Equitymaster

At present, the BSE Sensex is trading 279 points higher, and the NSE Nifty is trading 90 points higher.

M&M, HUL, Titan Company are among the top gainers today.

Tech Mahindra, Tata Steel, HCL Tech on the other hand is among the top losers today.

The BSE 150 Midcap index is trading 0.1% higher and the BSE 250 SmallCap index is trading 0.4% higher.

Sectoral indices are trading mixed today with stocks in auto sector and realty sector witnessing buying. Meanwhile, stocks in IT sector and oil & gas sector witnessed selling pressure.

The rupee is trading at Rs 94.6 against the US dollar.

Kotak Acquires Deutsche's India Retail Business

Kotak Mahindra Bank will acquire Deutsche Bank India's retail banking, affluent banking, and wealth management business for Rs 2.82 billion.

As part of the deal, Kotak will take over a loan book of around Rs 290 billion, deposits worth Rs 160 billion, and assets under management (AUM) of Rs 105 billion.

Nearly 1,000 Deutsche Bank employees are expected to join Kotak, while 16 of Deutsche Bank's 17 branches in India will become part of Kotak's network. Deutsche Bank will retain its Fort branch in Mumbai. Around 15,000 customers will also move to Kotak.

Kotak said the acquisition supports its strategy of expanding through selective acquisitions and will strengthen its presence in the affluent and SME segments. The bank expects the deal to improve its return on equity (RoE) over time.

Both Kotak and Deutsche Bank said they will work together to ensure a smooth transition for customers and employees.

Coal India Boosts R&D for Future Growth

Coal India Ltd (CIL) plans to invest around Rs 19 billion in research and development (R&D) by FY30 as it focuses on new technologies and cleaner energy solutions.

The company has significantly increased its R&D spending to Rs 2.45 billion in FY25 from Rs 0.61 billion in FY24. To support innovation, CIL has also set up the National Centre for Coal and Energy Research (NaCCER), which will focus on developing and testing new technologies.

CIL has partnered with three IITs to establish Centres of Excellence for research in clean coal, sustainable energy, and mining technologies. The company has committed Rs 2.53 billion to these centres, where several pilot projects and prototype developments are underway.

Currently, CIL is working on 19 R&D projects worth Rs 2.25 billion through leading research institutions, along with 13 additional projects at the Centres of Excellence.

The research covers areas such as carbon capture, coal gasification, critical minerals, sustainable mining, wastewater treatment, mine rehabilitation, and circular economy solutions.

CIL has also partnered with international organisations in Canada, Sweden, and Australia to develop underground coal gasification, deploy 5G technology in mining operations, and strengthen collaborative research.

RailTel Wins DigiThane Platform Development Contract

RailTel Corporation has received a Letter of Intent (LoI) from the Thane Municipal Corporation for the DigiThane Citizen Engagement Platform project.

Under the 10-year contract, RailTel will develop, upgrade, implement, operate, and maintain the DigiThane Citizen Engagement Platform.

The estimated value of the contract is Rs 1.36 billion (including taxes), and the project is scheduled to be completed by 28 June 2036.