Stocks in Asia edged higher ahead of key events from the Federal Reserve and the Bank of Japan that will help define the global rates trajectory.

The MSCI Asia Pacific Index climbed 0.2% as benchmarks in Japan, Australia and South Korea rose.

US stock market ended higher on Wednesday after the minutes from the most recent meeting of the Federal Reserve cemented expectations for a September rate cut.

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

Source: Equitymaster

At present, the BSE Sensex is trading 211.5 points higher and NSE Nifty is trading 64 points higher.

Infosys, Tech Mahindra, and Asian Paints are among the top gainers today.

Power Grid Corporation, M&M, and Shriram Finance the other hand are among the top losers today.

Broader markets are trading on positive. The BSE Midcap index is trading 0.4% higher and the BSE Smallcap index is trading 0.6% higher.

Sectoral indices are trading mixed today, with stocks in the telecom sector and IT sector witnessing buying. Meanwhile, the stocks in the power sector and realty sector are trading lower.

The rupee is trading at Rs 83.94 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 71,657 per 10 grams today.
 

RVNL to Expand in ASEAN Market

State-run railway company Rail Vikas Nigam (RVNL) Ltd. has signed a Memorandum of Understanding (MoU) with M/s Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA).

Post this MoU, RVNL, and DMIA may collaborate to participate in railway infrastructure and services projects in the All South East Asian Nations (ASEAN) market as well as other markets.

The MoU outlines the terms and conditions under which both companies may work together.

There will be a special focus on establishing a manufacturing base in Malaysia for railway coaches and other railway products to cater to the growing needs of ASEAN countries, as per the terms of the MoU.

RVNL recently disclosed in an earnings call that its current order book stood at Rs 832.2 bn at the end of the June quarter, giving them visibility for the next four years.

The company reported a decline in its revenue during the quarter, which the management attributed to the geopolitical situation in Maldives, which has impacted the topline, along with some pending claims worth nearly Rs 2.5 bn from Metro authorities in Madhya Pradesh.

The management also expressed optimism that the topline will recover in the next three quarters of the current financial year.
 

Zen Technologies Launches QIP

Defense training solutions firm Zen Technologies Ltd on Wednesday (21 August) launched a Qualified Institutional Placement (QIP) with an issue size of Rs 8 bn, which may be scaled up to Rs 10 bn.

The base issue represents 5.95% of the company's equity, potentially increasing to 7.43%.

The issue is priced at Rs 1,601 per share, reflecting a 10.2% discount to the closing price and a 5% discount to the floor price.

The proceeds from the QIP will be used to fund the company's working capital requirements, support inorganic growth through acquisitions and strategic initiatives, and serve general corporate purposes.

The book-running lead managers (BRLM) for the issue are ICICI Securities and others, sources close to the development said. The shares will have a 60-day lock-in period.

Zen Technologies, a leading Indian defense company for over 30 years, specializes in combat training solutions and counter-drone technologies.

They offer a range of land-based military training simulators, driving simulators, and live range equipment for realistic combat training.

BEML Partners SMH Rail

BEML has entered into a Memorandum of Understanding (MoU) with Malaysia's largest rolling stock manufacturer, SMH Rail.

This landmark agreement was formalized in the presence of Tengku Zafrul B Tengku Abdul Aziz - Minister of International Trade and Industry, Malaysia during an event in Delhi.

This strategic partnership marks a historic collaboration between India and Malaysia, aiming to strengthen bilateral relations and address the growing global demand for advanced rail and metro rolling stock.

Together, BEML and SMH Rail will focus on marketing, supply, and servicing of rail and metro rolling stock products, with a particular emphasis on markets in Malaysia, Southeast Asia, and Africa.

Under this MoU, BEML and SMH Rail will pool their resources to enhance capabilities in marketing, manufacturing, and maintenance, repair, and overhaul (MRO) services.

The collaboration will also involve the joint design, engineering, manufacturing, and integration of rolling stock, tailored to meet client-specific requirements.

Additionally, both companies will excel in sourcing rolling stock aggregates and subsystems, formulating winning strategies, and exchanging technology on a mutual basis.

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