Most Asian stocks dropped on Wednesday following Wall Street's losses, amid fear that rising Middle East tensions could draw the US into more direct conflict.

US stocks fell on Tuesday due to rising tensions in the Middle East, particularly the ongoing Israel-Iran conflict.

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

Data Source: Equitymaster

At present, the BSE Sensex is trading 211 points higher, and the NSE Nifty is trading 76 points higher.

IndusInd Bank, M&M, and Maruti Suzuki are among the top gainers today.

Kotak Mahindra, NTPC, and Power Grid, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.2% higher, and the BSE Smallcap index is trading 0.2% higher.

Barring the utilities sector and the power sector, all other sectoral indices are trading positively today, with stocks in the auto sector and realty sector witnessing buying.

The rupee is trading at Rs 86.2 against the US dollar.
 

Bharat Forge Inks Deal with France

Bharat Forge has teamed up with a French company, Turgis Gaillard, to manufacture AAROK UAVs in India. These drones will help the Indian armed forces with long-range surveillance and strike missions.

This partnership will boost India's capability with advanced technology and give us more control over maintenance.

The AAROK is a medium-altitude long-endurance (MALE) unmanned aerial vehicle, designed to provide the latest technology at the most affordable acquisition and deployment costs.

A memorandum of understanding (MoU) has been signed by Bharat Forge and Turgis Gaillard, a French company, to supply the Indian Ministry of Defence with the AAROK UAV (unmanned aerial vehicle).

Bharat Forge will set up an on-site AAROK UAV production line as part of this agreement.

According to a BFL release, this local production capacity will provide total sovereignty over maintenance and improve operations while meeting the significant demands of the Indian armed forces.
 

RailTel Shares Jumps on Big Order

The share price of RailTel Corporation of India came in focus on June 18, following the receipt of a Letter of Intent (LOI) from Zoram Electronics Development Corporation (Zenics).

It secures contract for Mizo Fibre Grid Network (MFGN) project, and it expected to be completed by 5 September 2026.

The estimated order size is Rs 0.5 billion (bn).

The company's board of directors have recommended a final dividend at the rate of 8.5% Rs 0.85 per share, approved on 15 June 2025 in annual general meeting.

This final dividend is addition of the interim dividends of Rs 2 per share that the company has already paid for the fiscal year 2024-2025.

Also, on 11 June 2025, the company received an order from Southeastern Coalfields for amounting to Rs 11,94,89,669.

BSNL Awards Polycab Huge Contract.

Polycab wins an order worth Rs 64.5 bn from BSNL for BharatNet project in Karnataka, Goa and Puducherry.

Polycab will design, build and maintain the network of infrastructure for BSNL's BharatNet project. This includes setting up and upgrading the system to ensure smooth operations.

The Rs 64.5 bn contract includes setting up the network (Rs 37.4 bn), running the network (Rs 22.5 bn) and maintaining the existing network (Rs 4.6 bn).

Th project will take 3 years to build and 10 years to maintain. The maintenance cost will be 5.5% of the setup cost per year for the first 5 years and 6.5% per year for the next 5 years.
 

CCI Approves Delhivery's Ecom Deal

India's competition regulator CCI has approved Delhivery's Rs 14.1 bn deal to acquire a controlling stake in Ecom Express, a major logistics sector consolidation moves.

Delhivery will acquire over 99% stake in Ecom Express in a Rs 14.1 bn deal, subject to CCI approval which has now been granted.

Delhivery is acquiring Ecom Express to expand its operations and improve its services in e-commerce logistics.

Ecom Express had a turnover of Rs 26.1 bn in FY24, showing a small increase from the previous year.

The deal will strengthen Delhivery's position in delivery, warehousing and fulfilment services, helping it grow in India's booming e-commerce logistics market.

More By This Author: