Asian markets traded higher on Wednesday, following overnight gains on Wall Street on rising expectations of a Fed rate cut next month.

US stock market ended higher on Tuesday, with the S&P 500 and the Nasdaq closing at record highs after inflation data bolstered bets on a Federal Reserve interest rate cut next month.

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

Source: Equitymaster

At present, the BSE Sensex is trading 226 points higher, and the NSE Nifty is trading 96 points higher.

Tata Motors, Bharat Elec, and Tata Steel are among the top gainers today.

Maruti Suzuki, Bajaj Finance, and Tech Mahindra, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.5% higher, and the BSE Smallcap index is trading 0.4% higher.

Sectoral indices are trading mixed today, with stocks in the realty sector and healthcare sector witnessing selling pressure. Meanwhile oil & gas sector and the media sector were witnessing buying.

The rupee is trading at Rs 87.7 against the US dollar.
 

Suzlon Energy's Q1 Profit Surges

Shares of Suzlon Energy came into focus after the company posted its Q1 FY26 results.

The wind turbine segment grew 67% during the quarter to Rs 24.9 billion (bn), which contributed significantly to the revenue spike. Furthermore, the revenue from foundries and forgings increased from Rs 0.9 bn to Rs 1.5 bn.

On the operational front, a positive inventory adjustment of Rs 5.5 bn helped the company's EBITDA for the quarter rise 60% to Rs 5.8 bn in Q1 FY26 from Rs 3.6 bn.

In the reporting quarter, the EBITDA margin increased by 70 basis points (bps) to 18.78%.

However, Suzlon Energy's revenue for the quarter decreased 18% from Rs 37.7 bn on a sequential basis.

Suzlon Energy's net profit rose 7.2% year-over-year to Rs 3.2 bn, up from Rs 3 bn in the same quarter last year.

Suzlon Group secured a 381 MW order from Zelestra India for a project spread across Maharashtra, Madhya Pradesh, and Tamil Nadu, using 127 S144 turbines.
 

Jindal Steel's Q1 Profit Sees Growth

Shares of Jindal Steel came in focus after the company posted its Q1 FY26 results.

Its operating revenue for the reviewed quarter was Rs 122.9 bn, up 92.79% year over year from Rs 63.7 bn in the first quarter of FY25.

Operationally, its EBITDA increased 5.4% year over year to Rs 29.8 bn in the June quarter of FY26, compared to Rs 28.3 bn in the same period last year.

During the reporting quarter, it produced 2.09 million tonnes (MT) of crude steel, up 2% YoY from 2.05 MT in Q4FY25.

In Q1FY26, the company's sales decreased 9% YoY to 1.9 MT from 2.09 MT in the June quarter of FY25.

Domestic sales were 1.78 MT, which was a 9% YoY decline from 1.95 MT in the same period of the prior fiscal year. From 0.15 MT in Q1FY25 to 0.14 MT in the June FY25 quarter, its exports decreased 8% YoY.

The steel manufacturer had Rs 41.9 bn in liquidity at the end of the quarter.

Jindal Steel & Power Ltd's net profit rose 11.49% year-over-year to Rs 14.9 bn in Q1FY26, up from Rs 13.4 bn in the same quarter last year.
 

Vodafone Idea Acquires Stake in Renewables

Vodafone Idea Limited has agreed to acquire a 26% stake in Aditya Birla Renewables SPV 3 Limited, a renewable energy company that owns and operates a captive power plant, through binding Purchase and Power Purchase Agreements.

Founded on 21 November 2024, SPV 3 has a paid-up equity of Rs 1 lakh, distributed among 10,000 shares of Rs 10 each, and an authorised share capital of ?6.50 crore.

The company is estimated to spend Rs 0.01 bn in one or more instalments over a period of approximately six months over to acquire the stake.

The Board and Audit Committee of Vodafone Idea have given their approval to the acquisition. With the required approvals in place, the Board has regarded this as a Related Party Transaction.

The acquisition aims to comply with regulatory mandates and secure cost-effective renewable energy for Vodafone Idea's operations.

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