Asian markets traded higher on Wednesday on increased bets of the US Federal Reserve's interest rate cut.

US stock market ended mixed on Tuesday after Federal Reserve Chair Jerome Powell reinforced bets on an interest rate cut in October amid a weakening labor market.

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

Source: Equitymaster

At present, the BSE Sensex is trading 259 points higher, and the NSE Nifty is trading 98 points higher.

Asian Paints, NTPC, and Bajaj Finance are among the top gainers today.

Tech Mahindra, Axis Bank, and Titan, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.7% higher, and the BSE Smallcap index is trading 0.3% higher.

Sectoral indices are trading positively today with stocks in the realty sector, auto sector, and telecom sector witnessing the most buying.

The rupee is trading at Rs 88.6 against the US dollar.
 

Tech Mahindra Q2 Results

For the second quarter of FY26, Tech Mahindra, the IT division of the Mahindra Group, reported better-than-expected results, with strong revenue growth and margin expansion across key metrics.

Compared to Q1's revenue of Rs 133.5 billion (bn), revenue increased 4.8% QoQ to Rs 139.9 bn.

With earnings before interest and tax (EBIT) rising 15.1% QoQ to Rs 16.9 bn, operating performance also improved. The EBIT margin increased by 100 basis points to 12.1% compared 11.1% the previous quarter.

The company posted a net profit of Rs 11.9 bn, up 4.8% on a quarter-over-quarter (QoQ) basis from Rs 11.4 bn in the prior quarter.

Tech Mahindra's new deal bookings rose to Rs 26.4 bn in Q2 FY26 from Rs 167.7 bn a year ago and Rs 245 bn in the previous quarter.

The board said in a statement that the company had announced an interim dividend of Rs 15 per equity share, on a face value of Rs 5 each (300%), in addition to its financial results.

To identify which members are eligible for the payout, the company has set Tuesday, 21 October 2025, as the record date.
 

Saatvik Green Energy Bags Major Orders

Saatvik Solar Industries Private Limited, a material subsidiary of Saatvik Green Energy Limited, has announced a significant boost to its order book.

Three separate power producers and EPC (Engineering, Procurement, and Construction) firms have placed orders with the company for the supply of solar PV modules totalling Rs 6.4 bn.

The order is set to be completed by end of June 2026.

The orders are from domestic companies, showing strong demand for Saatvik's products in India. These are repeat clients, indicating their satisfaction with Saatvik's solar modules.

Saatvik Green Energy Limited, formerly known as Saatvik Green Energy Private Limited, is part of the Saatvik Group. The company operates state-of-the-art module manufacturing facilities, with its subsidiary Saatvik Solar Industries Private Limited playing a crucial role in its operations.
 

Persistent Systems Q2 Profit Soars Higher

Shares of Mid-tier IT services company Persistent Systems came into focus after the company reported its Q2 FY26 results.

Operational revenue for the company climbed 23.59% to Rs 35.8 bn from Rs 28.9 bn during the same period of the previous fiscal year.

In the second quarter of this fiscal year, EBIT increased 43.7% to R 5.8 bn at the operating level compared to Rs 4.1 bn during the same period in the previous fiscal year.

In the reporting quarter, the EBIT margin was 16.3%, down from 43.7% during the same period in the prior fiscal year.

The order bookings for the quarter ended 30 September 2025, stood at Rs 50.6 bn in Total Contract Value (TCV) and Rs 37.2 bn in Annual Contract Value (ACV).

The CEO of Persistent, said the company has reported its 22nd consecutive quarter of revenue growth, with a commitment to impactful transformation and execution excellence driving the success. The company's AI strategy leverages strong platforms, domain expertise, and partnerships to help clients innovate and improve productivity.

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