Most Asian stocks rose on Wednesday, led by a rally in Hong Kong's tech sector amid growing AI optimism, while gains across other regional indices remained subdued ahead of a key US inflation report.

US stocks slipped on Tuesday, as investors awaited a testimony from Federal Reserve Chair Jerome Powell for insight on interest rates trade tariffs, and inflation data.

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

Source: Equitymaster

At present, the BSE Sensex is trading 431 points lower and NSE Nifty is trading 126 points lower.

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

M&M, Axis Bank, and Reliance Industries on other hand are among the top losers today.

The BSE Midcap index is trading 1.9% lower and the BSE Smallcap index is trading 2.3% lower.

Barring the IT & Media sector all other sectoral indices are trading lower with stocks in the energy sector, power sector, and realty sector witnessing selling pressure.

The rupee is trading at Rs 86.52 against the US dollar.
 

HAL's Order Book Grows Strong

Hindustan Aeronautics Ltd (HAL) has its order book filled with manufacturing contracts up to 2030.

Hindustan Aeronautics Limited (HAL) has secured orders worth Rs 1.2 trillion (tn) and expects to add another Rs 1 tn to its order book in the coming year, according to the company's chairman at the Aero India 2025 event held at Yelahanka Air Force Station.

His statement comes as India's defense procurement gains momentum, with Defence Secretary Rajesh Kumar Singh outlining an ambitious roadmap for the sector.

While last year's total stood at Rs 1.08 tn, the current financial year has already seen commitments of Rs 1.15 tn, with a target to surpass Rs 2 tn.

The Defence Secretary emphasized that long-term contracts would enhance stability across the supply chain, ensuring sustained demand for OEMs and component manufacturers. He further noted that the objective is to maintain full defense order books for the next four to five years, providing visibility for suppliers at all levels. Additionally, he acknowledged potential procurement agreements with US firms, contingent on their adherence to India's indigenization and quality standards.

Berger Paints Q3 Results

Berger Paints India Ltd posted a subdued financial performance for the December quarter, with net profit declining 1.6% year-on-year (YoY) to Rs 2,950 m from Rs 2,997 m in the same period last year.

The company's revenue, however, saw a modest 3.2% YoY increase to Rs 29.8 bn, compared to Rs 28.8 bn in Q3FY24.

At the operating level, EBITDA declined 1.7% YoY to Rs 4,718 m from Rs 4,800 m in the year-ago period.

EBITDA margin contracted to 15.9% from 16.7% a year earlier, reflecting higher input costs and competitive pressures in the market.

The company remains India's second-largest paint manufacturer, offering a diverse range of decorative and industrial coatings. It also provides painting services under the "Berger Express Painting" initiative.
 

Happy Forgings Wins International Order

Happy Forgings has obtained an international order to supply heavy forged and precision-machined components weighing upto 1,000 Kgs for use in industrial and mining applications.

The order entails annual committed volumes of Rs 950 m with a peak annual revenue potential of Rs 1,600 m.

Testing and sampling is scheduled in 2027 and supplies are expected to commence in 2028 under the binding long-term supply contract.
 

Birlasoft Q3 Profit Slips 27.4%

IT service provider Birlasoft reported a 1.5% year-on-year (YoY) increase in revenue for the third quarter of FY 2024-25, reaching Rs 136.3 bn. However, net profit fell 27.4% to Rs 11.7 bn in the October-December 2024 period, impacted by higher employee costs and a seasonally weak demand environment.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 16.3 bn, reflecting a decline of 23.7% compared to the same period last year. EBITDA margins contracted to 12%, down by 3.9%.

Birlasoft's cash and cash equivalents rose 21.7% year-on-year to Rs 205.5 bn, while the total contract value (TCV) of deals signed during the quarter rose 4% YoY to US$ 226 m, marking a 66% increase.

The BFSI segment emerged as the key growth driver, registering a 1.8% sequential increase, while revenue from digital & data services saw a 2.4% quarter-on-quarter (QoQ) rise.

The top five clients contributed to a 7.1% YoY increase in revenue. The active client count grew to 265 from 261 in the previous quarter, and the number of US$ 5 million-plus clients increased to 27.

Workforce strength stood at 12,125 employees, with attrition rising slightly to 12.7%.

More By This Author: