Asian markets traded higher tracking overnight gains in US tech stocks. Japan's Nikkei 225 rose 1.7%, while the Topix gained 1.3%.

The US stock market ended mixed after the inflation data boosted Fed rate cut hopes. A rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time.

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

Source: Equitymaster

At present, the BSE Sensex is trading 97 points higher and NSE Nifty is trading 13 points higher.

TCS, Tech Mahindra, and Wipro are among the top gainers today.

Apollo Hospital, BPCL and Titan other hand are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading flat.

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

The rupee is trading at Rs 84.86 against the US dollar.

In commodity markets, gold prices are trading 0.3% higher at Rs 78,772 per 10 grams today.
 

Vedanta to Consider Fourth Interim Dividend

Anil Agarwal-owned Vedanta has announced that it will hold a board meeting on Monday, 16 December to consider a fourth interim dividend.

The board meeting was earlier supposed to be held in October but was canceled due to unforeseen circumstances.

In September this year, Vedanta declared its third interim dividend of Rs 20 per share, following two earlier announcements of Rs 11 and Rs 4 respectively.

In total, Vedanta, so far has paid Rs 35 as an interim dividend per share to its shareholders in financial year 2025. The record date for the fourth interim dividend has been fixed as 24 December 2024.

This has been the best calendar year performance for the stock since 2021, during which it had gained 110%.

Swiggy Launches Invite-Only Membership

On Wednesday, Swiggy announced the launch of 'One BLCK, ' an exclusive invite-only membership for consumers seeking the highest level of convenience and services. One BLCK member will enjoy faster deliveries on every food delivery, along with an on-time guarantee.

When dining out, members will get complimentary cocktails, drinks, and desserts. These members will also get access to Swiggy's top customer care agents for personalized, and priority support.

Available by invitation only, Swiggy One BLCK is offered at a launch price of Rs 299 for a 3-month plan.

Invitations to Swiggy One BLCK will be rolled out in phases, making this membership available to select users across India.

Existing Swiggy One members can also upgrade to this new membership.

The company claimed that this is the industry's first premium membership.

One BLCK is the country's only membership that offers benefits across categories of food delivery, quick commerce and dining out, along with industry-first benefits for premium users.

Launched in 2021, 80% of Swiggy One members use two or more services on Swiggy and spend 3x more than non-Swiggy One members.
 

Emami to Pay Fine

On Wednesday, the Central Delhi District Consumer Dispute Redressal Commission imposed a fine of Rs 1.5 m on Emami for unfair trade practices in connection with its Fair and Handsome fairness cream.

The ruling came after a complaint filed 11 years ago in 2013 alleging that the product's advertisement was deceptive and failed to deliver promised results.

The case faced several delays, including a 2015 ruling in the complainant's favour, which was later returned for re-evaluation by the Delhi State Consumer Commission.

The latest ruling marks the conclusion of the decade-long legal battle. This comes at a time when courts and forums have intensified their scrutiny of misleading advertisements in the fast-moving consumer goods (FMCG) sector.

The complaint mentioned that despite regular use of the cream, as per the instructions on the packaging, it did not lead to fairer skin as advertised. The cream, priced at Rs 79 at the time, assured results in three weeks following consistent application.

However, after using the product for three weeks, as mentioned on the package, no results appeared, leading to the complaint in 2013.
 

Cipla Receives CDSCO's Approval

Drug maker Cipla on Wednesday said it has received approval from the Central Drugs Standard Control Organisation for the distribution and marketing of Afrezza inhalation powder in India.

Afrezza, a product created and manufactured by MannKind Corporation (MannKind) USA, is used to improve glycemic control in adult patients with diabetes mellitus.

By bringing a game-changing, patient-centred solution to diabetes management in India, Cipla will make this drug accessible to all and empower millions to take control of their health with greater ease, the Mumbai-based company said in a statement.

Afrezza is a rapid-acting insulin delivered through an inhaler compared to current insulins which are given as injections.

Taken at the beginning of a meal, the medication dissolves rapidly upon oral inhalation into the lungs and delivers insulin quickly to the bloodstream.

Afrezza starts working as early as 12 minutes and helps in reducing the rapid increase seen in sugar levels with meals.

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