Asian markets jumped and the dollar rose after President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell while optimism grew that trade tensions may be easing.

US stocks surged Tuesday (April 22) as optimism grew over a potential easing of trade tensions between the US and China.

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

Source: Equitymaster

At present, the BSE Sensex is trading 519 points higher and NSE Nifty is trading 151 points higher.

Shriram Finance, Bajaj Finance and Apollo Hospital are among the top gainers today.

HUL and Kotak Mahindra, on the other hand, are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading 0.6% higher.

Sectoral indices are trading positively today, with stocks in the IT sector and the metal sector witnessing ba uying spree.

The rupee is trading at Rs 85.3 against the US dollar.
 

HCL Tech Declares Dividend

HCL Technologies, India's third-largest IT services firm, announced an interim dividend of Rs 18 per equity share while declaring its results for the quarter and year ended 31 March 2025.

The record date for determining shareholders eligible for the dividend is set for 28 April 2025. The dividend will be paid on 6 May 2025.

Earlier this year, the company had declared an interim dividend of Rs 12 and a special dividend of Rs 6, bringing the total to Rs 18 per share, with a record date of 17 January 2025.

As per data from Trendlyne, HCL Technologies has declared 90 dividends since May 2003.

In the last 12 months alone, it has paid dividends worth Rs 60 per share, translating into a dividend yield of 4.05%.

Adani Halts Telecom Ambitions

The Adani group has effectively shelved its telecom ambitions, agreeing to transfer rights to 400MHz of 26GHz spectrum to Bharti Airtel Ltd for a fee, signalling a pause in its plans to connect its infrastructure assets.

Adani Data Networks, a wholly owned subsidiary of Adani Enterprises Ltd, on Tuesday said it has signed definitive agreements with Bharti Airtel and its arm Bharti Hexacom to transfer the rights to use 400MHz of spectrum in the 26GHz band.

With this move, Adani has effectively signalled a pause to its ambitions to use the telecom licence and spectrum to connect its ports, airports and other facilities.

Notably, Adani has paid around Rs 57 crore to the department of telecommunications (DoT) for the spectrum purchase and the remaining amount of over Rs 1.5 bn (excluding interest) will be paid by Airtel to DoT over the years, officials aware of the matter said.

In addition to the payment, there will be an interest component in the yearly instalment method, officials added.

The spectrum trading assumes significance as the Adani group, which acquired the spectrum for Rs 2.1 bn in a 2022 auction, was not able to deploy it for connectivity in its ports, airports, logistics, power plants, etc.

Telecom operators Jio and Airtel have been using some 26GHz spectrum bands in rolling out fixed wireless access (FWA) broadband services as well.
 

Gensol Engineering now under EoW lens

Power Finance Corporation Ltd (PFC), a state-run Non-Banking Financial Corporation (NBFC), has filed a complaint with the Economic Offences Wing (EoW) of the Delhi police against Gensol Engineering Ltd over alleged filing of falsified documents, the company said on 22 April 2025.

The public sector undertaking (PSU) said it is also examining the matter internally under its "anti-fraud policy", while clarifying that it did not issue any letters to credit rating agencies CARE and ICRA.

Gensol, of which the ride-hailing all-electric vehicle (EV) app BluSmart was a part, allegedly forged letters from its two lenders - PFC and Indian Renewable Energy Development Agency Ltd (IREDA) - to show that it was regular in debt servicing.

However, the issue came to light when the credit rating agencies began verifying the letters with the lenders.

PFC's complaint with the EoW will be the fourth simultaneous investigation against Gensol, BluSmart.

The company is also being investigated separately by SEBI and the Ministry of Corporate Affairs.

PFC said it sanctioned Rs 6.3 bn to Gensol Engineering Ltd in January 2023 as part of the government's push for electric vehicle (EV) adoption through schemes like FAME and PM E-bus Seva.

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