Asian markets traded higher on Tuesday as overnight gains in Wall Street lifted investor sentiment.

US stock market ended mixed on Monday amid uncertainty around the US President Donald Trump's economic agenda.

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

Source: Equitymaster

At present, the BSE Sensex is trading 6 points higher and NSE Nifty is trading 25 points higher.

ONGC, Trent and Cipla among the?top gainers today.

TCS, Axis bank and Maruti Suzuki on other hand are among the top losers today.

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

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

The rupee is trading at Rs 85.5 against the US dollar.
 

Vedanta to set up Aluminium Park

Vedanta Ltd has announced plans to establish a state-of-the-art aluminium park in Odisha's Jharsuguda, strategically located near its aluminium smelter. Spanning 253 acres, the park is expected to attract over 100 micro, small, and medium enterprises (MSMEs) while generating 200,000 employment opportunities.

In addition, Vedanta will invest Rs 1 trillion to develop the park and set up a 3 million tonnes per annum (MTPA) aluminium plant in Rayagada district.

Vedanta Aluminium's Chief Operating Officer, Sunil Gupta, highlighted the company's commitment to Odisha's development, citing its achievements such as the country's first women-operated potline and sustainable initiatives in skill development and environmental stewardship.

He emphasized that the Rs 1 trillion investment reaffirms Vedanta's confidence in Odisha's potential to drive India's industrial revolution.

ITC to Acquire Century Pulp and Paper

ITC Ltd has announced the acquisition of Century Pulp and Paper from Aditya Birla Real Estate Ltd for Rs 34.9 bn, a move that will expand its paper capacity by 50% and strengthen its presence in northern India. While ITC's paperboards and speciality papers business currently has an annual capacity exceeding 1 million tonnes, Century Paper adds an additional 480,000 metric tonnes per annum.

ITC's four existing paper facilities are located in South India, whereas Century's manufacturing unit is based in Lalkuan, Uttarakhand, providing a strategic geographical advantage. Meanwhile, Aditya Birla Real Estate stated in a separate filing that the divestment would allow it to focus on growth opportunities in its core real estate business.

Commenting on the acquisition, ITC Executive Director B. Sumant noted that this move aligns with the company's strategy to drive the next phase of growth in the paperboards and speciality papers segment. He highlighted that with ITC's current facilities operating at full capacity, expansion into a new location is a crucial step forward.
 

Government to Raise Stake in VI

The Indian government is set to increase its stake in Vodafone Idea Limited (Vi) to approximately 48.99% through the conversion of outstanding spectrum auction dues into equity shares, as per the company's disclosure on 30 March. This move is in line with the telecom sector relief package introduced in September 2021.

In an order dated 29 March, the Ministry of Communications directed Vodafone Idea to issue equity shares worth Rs 369.5 bn to the government under Section 62(4) of the Companies Act, 2013.

The company received the directive on March 30 and is required to complete the issuance within 30 days, subject to necessary approvals.

As part of this allocation, Vodafone Idea will issue 36.9 bn equity shares at a face value of Rs 10 each, priced at Rs 10 per share. The pricing is determined based on the higher of volume-weighted average price over the last 90 trading days or the last 10 trading days before 26 February 2025, in compliance with Section 53 of the Companies Act, which prohibits issuing shares below their par value.

Following this equity conversion, the government's stake in Vodafone Idea will increase from 22.6% to nearly 48.99%. However, the company has assured that the promoters will continue to retain operational control.

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