Asian shares gained Wednesday as easing trade tensions lifted optimism that's put a global index of stocks within striking distance of a record high.

US President Donald Trump's announcement over the holiday weekend that he would delay a planned 50% tariff on the European Union lifted sentiment on the Wall Street on Tuesday with key indices settling near day's high and all sectors settling in the green.

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

Source: Equitymaster

At present, the BSE Sensex is trading 20 points higher, and the NSE Nifty is trading 29 points higher.

SBI, HCL Tech, and Tata Motors are among the top gainers today.

Titan, JSW Steel, and Grasim Industries are among the top losers today.

The BSE Midcap index is trading 0.2% higher, and the BSE Smallcap index is trading 0.5% higher.

Sectoral indices are trading mixed today, with stocks in the telecom sector, the IT sector, and the finance sector witnessing buying. Meanwhile, stocks in the metal sector and the FMCG sector are facing selling pressure.

The rupee is trading at Rs 85.6 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 96,161 per 10 grams today.
 

ITC's Top Investor BAT to Sell Stake

English cigarette maker British American Tobacco (BAT) on Tuesday said it is considering further reducing its stake in Indian FMCG giant ITC. According to media reports, BAT may reduce its stake through an on-market sale. Currently, it is ITC's top investor with a 20.3% stake.

The development comes almost a year after BAT sold around 3.5% (436.9 million shares) of its stake in ITC for around US$ 2 billion.

The UK-based company, known for cigarette brands like Dunhill and Lucky Strike, did not provide further details of how much stake it plans to offload and noted that there is no assurance the transaction will proceed.

Earlier this year, BAT's chief executive, Tadeu Marroco, also said that the firm would divest its stake in ITC Hotels "at the right moment".

NMDC Q4 Results

State-run NMDC on Tuesday reported a 5% growth in consolidated net profit to Rs 1,483.18 million (m) in the March quarter, driven by higher iron ore and pellets sales revenue.

It had posted a net profit of Rs 1,415.62 m in the fourth quarter of 2023-24, the company said in an exchange filing.

NMDC's total income rose by around 9% to Rs 7,497.2 m in the last quarter of FY25 from Rs 6,908.37 m in Q4 FY24.

Iron ore sales were Rs 6,350.49 m while pellet along with other minerals contributed Rs 662.07 m.

For the full FY25 fiscal, the net profit increased by over 17%to Rs 6,538.82 m from Rs 5,571.25 million in FY24.

Total income rose to Rs 25,498.84 m from Rs 22,678.73 m in the corresponding fiscal.

The Board of Directors of the Company has proposed a final dividend of Rs 1 per share subject to the approval of shareholders.

In addition, the first interim dividend of Rs 2.30 per equity share for FY 2024-25 has been paid.
 

HBL Engineering Bags Kavach Projects

HBL Engineering said that it had received a letter of acceptance (LoA) from IRCON International for the provision of the Kavach in Bangalore and Mysore divisions of South Western Railway, across 85 stations covering 778 kilometres and two locomotives.

The contract has to be executed within a period of 18 months. The total value of the contract is Rs 101.55 m.

HBL Engineering (formerly known as HBL Power Systems) manufactures different types of batteries, including lead acid, nicad, silver zinc, lithium, and railway & defence electronics and other products.
 

Belrise IPO to List Today

Belrise Industries shares are set to make their debut in the Indian stock market today after the conclusion of its initial public offering (IPO). Belrise Industries IPO listing date is today, 28 May 2025.

The Rs 21,500 m worth of public issue was open from May 21 to May 23.

The IPO allotment was fixed on 27 May, and the Belrise Industries IPO listing date is 28 May.

Belrise Industries shares will be listed on both the stock exchanges - BSE and NSE. Ahead of the Belrise Industries IPO listing today, investors watch out for the trends in the grey market premium to estimate the Belrise Industries IPO listing price.

Belrise Industries shares are showing a bullish trend in the unlisted market, with a positive grey market premium (GMP). Ahead of the share listing today, Belrise Industries IPO GMP today is Rs 24 per share, according to stock market observers.

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