Asian shares rose on Tuesday in line with Wall Street's high note and bonds also rallied, boosted by dovish Federal Reserve remarks.

The MSCI's gauge of Asia Pacific stocks outside Japan was up 1.2%, while Japan's benchmark Nikkei average rose 2.4%.

US stocks ended higher following some potentially encouraging news on interest rates, which have been dragging Wall Street mainly lower since the summer.

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

Data Source: Equitymaster

Back home, Indian share markets are trading on a positive note.

At present, the BSE Sensex is trading higher by 303 points. Meanwhile, the NSE Nifty is trading higher by 88 points.

Tata Motors and M&M are among the top gainers today.

TCS and Cipla on the other hand are among the top losers today.

Broader markets are trading positively. The BSE Mid Cap index is trading 0.6% higher and the BSE Small Cap index is trading up by 0.9%.

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

The rupee is trading at Rs 83.23 against the US dollar.

In commodity markets, gold prices are trading 0.3% higher at Rs 57,729 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 68,891 per 1 kg.
 

Vedanta's tax penalty Order

Vedanta on Monday said the tax authorities have imposed a penalty of Rs 18.1 m on its subsidiary Hindustan Zinc.

The order was received on Sunday, 8 October, Vedanta informed the exchanges.

The company has received an order from Assistant Commissioner, Div-A, Central GST Audit Circle, CGST, Udaipur imposing a penalty.

The order has been passed on the contention that the company had wrongly availed of input tax credit.

The company further said it is hopeful of a favourable outcome at the appellate level and does not expect the order to have any financial impact on the company.

Vedanta shares are down 25% in 2023 so far. The stock is currently trading at its 52-week low, leaving investors worried.

Anil Agarwal plans to split his conglomerate to unlock value for repaying debt.
 

IDFC First Bank to sell office premises

IDFC FIRST Bank Limited informed the bourses on 9 October that it has agreed with the National Securities Depository Limited (NSDL) for the sale of its office premises located at Naman Chambers in Bandra-Kurla Complex (BKC), Mumbai.

IDFC FIRST Bank's office premise in BKC is being sold to NSDL for Rs 1.9 bn.

The title and ownership of the office premises shall be transferred from the bank to NSDL. The possession of the office premises will be handed over as mutually agreed between both parties.

The bank informed the exchanges that NSDL does not hold any share in IDFC FIRST Bank Limited nor is it related to any promoter/ promoter group/ group company of the bank in any manner.

Earlier this month, the private lender launched a qualified institutional placement (QIP) to raise funds. The base size of the issue is Rs 20 bn, with a green-shoe option of further raising Rs 10 bn. The floor price of the QIP has been set at Rs 94.95.

IDFC First Bank had launched a QIP of Rs 30 bn in 2021 as well.
 

Glenmark Lifesciences announces interim dividend

Glenmark Lifesciences declared an interim dividend of Rs 22.50 per share on 9 October 2023.

The interim dividend will be paid to such shareholders on or after 23 October 2023.

Glenmark Lifesciences was recently in the news after Glenmark Pharmaceuticals sold a 75% stake in the company for Rs 56.5 bn.

Glenmark Life Sciences is the leading manufacturer of active pharmaceutical ingredients (APIs).

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