Asian markets traded lower on Wednesday, tracking overnight losses on Wall Street amid cautiousness ahead of the US Federal Reserve meeting.

Japan's Nikkei 225 index fell 0.45%, while the Topix index dropped 0.65%. South Korea's Kospi index declined 0.80%, while the Kosdaq fell 0.78%. Japanese and Malaysian markets were closed for a holiday.

US stock market ended lower in choppy trading on Tuesday as caution set in ahead of an anticipated interest rate cut from the Federal Reserve.

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

Source: Equitymaster

At present, the BSE Sensex is trading 160 points higher, and the NSE Nifty is trading 54 points higher.

Maruti Suzuki, M&M, and Eicher Motors are among the top gainers today.

Asian Paints, Nestle, and Bajaj Finance, on the other hand, are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading 0.3% higher.

All sectors are trading on a positive note, with stocks in the telecom sector, realty, and metal sectors witnessing buying.

The rupee is trading at Rs 87.83 against the US dollar.
 

Coal India Wins Bid for Rare Earth

On September 16, Coal India Limited announced that it has been named the preferred bidder by the Ministry of Mines for the Ontillu-Chandragiri rare earth element (REE) exploration block in Andhra Pradesh.

The block covers 209.62 sq. km and comes with the grant of an exploration licence under the Mines and Minerals (Development and Regulation) Act, 1957.

The licence deed must be executed within one year from the issuance of the letter of intent by the state government.

The company confirmed that the award has been made by a domestic entity, does not fall under related party transactions, and that its promoter group holds no interest in the awarding entity.
 

BEL Secures New Orders

Bharat Electronics Ltd (BEL), the Navratna defence PSU, announced on Tuesday that it has received additional orders worth Rs 7.1 bn since its last update on 1 September 2025.

The latest contracts cover projects in IT infrastructure and cyber security solutions, electronic support measures systems, blockchain platforms, communication equipment, spares, and related services.

This comes after BEL's earlier disclosure on 1 September, when it reported fresh orders of Rs 6.4 bn since the end of July.

With the new inflows, the company's total disclosed orders since the start of FY26 have reached about Rs 74 bn, accounting for nearly 27% of its full-year guidance of Rs 270 bn. This excludes a large Rs 300 bn contract for quick-reaction surface-to-air missiles.

As of 1 April, BEL's order book stood at Rs 716.5 bn. Notably, the company had also secured more than Rs 35 bn in new orders in June.
 

RailTel Wins Rs 1.1 bn Smart Classroom Project

RailTel Corporation of India Ltd has bagged a work order worth Rs 1.1 bn from the Bihar Education Project Council (BEPC) for supplying, procuring, and installing smart classrooms across the state.

The project, focused on strengthening digital learning infrastructure in government schools, will particularly benefit institutions under the Kasturba Gandhi Balika Vidyalayas (KGBVs) scheme.

As per the company's filing, the contract covers the provision of smart classroom solutions, including the procurement of equipment, installation, and integration of digital learning tools. The project is scheduled to be executed by January 14, 2026.

Earlier, on September 13, RailTel received a letter of acceptance worth Rs 2.1 bn from BEPC for implementing the Education Quality Enhancement initiative under the PM SHRI scheme.
 

CCI Nod for PNC-Jaiprakash Deal

The Competition Commission of India (CCI) has approved the proposed acquisition of debt-laden Jaiprakash Associates Limited (JAL) by PNC Infratech Limited.

As part of the transaction, PNC Infratech will acquire at least 95% and up to 100% of JAL, either directly or through a wholly owned special purpose vehicle. JAL is currently under corporate insolvency resolution proceedings under the Insolvency and Bankruptcy Code, 2016.

PNC Infratech, a listed infrastructure company, focuses on engineering, procurement and construction (EPC) projects in roads and highways, including expressways, bridges, flyovers, and airport runways.

In contrast, JAL is a diversified infrastructure and industrial group with interests spanning hydropower, cement, real estate, hospitality, and EPC contracting.

Once among India's most prominent infrastructure players, JAL has struggled under a debt burden of over Rs 200 bn.

The acquisition gives PNC Infratech an opportunity to diversify beyond roads and highways and gain a foothold in cement and power, sectors that could complement its EPC expertise

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