The Indian stock market was positioned for a flattish start on Wednesday amid mixed cues from Asian peers and as oil prices retreated from recent highs. According to reports from Business Standard, GIFT Nifty futures were down 0.03 per cent at 22,824, indicating a subdued opening for the domestic equity markets. Among Asian markets, Japan's Nikkei gained 1 per cent while South Korea's Kospi declined 0.24 per cent, as reported by Business Standard. US stocks ended slightly lower on Tuesday, with the Dow Jones Industrial Average falling 0.26 per cent, the S&P 500 losing 0.17 per cent, and the Nasdaq Composite shedding 0.08 per cent.
Oil prices experienced a notable recovery after recent declines, with Brent crude futures rising 1.11 per cent to $103.73 a barrel and US West Texas Intermediate crude gaining 0.38 per cent to $89.72, as reported by Business Standard. The price movement came after US President Donald Trump denied he would be willing to ease sanctions on Iran while Qatar pushed for peace talks, following a previous session decline due to recovery in crude supply from the Middle East.
Fortis Healthcare received significant attention as Malaysian healthcare giant IHH Healthcare reiterated plans to increase its stake in the hospital chain to 51 per cent over the next three to five years, taking total capacity to around 10,000 beds by 2031, according to Business Standard. Medanta announced the acquisition of a 10,560-square-metre land parcel in Ghaziabad, Uttar Pradesh, for about ₹165.82 crore to establish a 350-plus bed hospital, as reported by Business Standard. Sun Pharma is planning to raise approximately ₹100 billion ($1.04 billion) via a rupee-denominated debt sale to partly fund a bridge loan for acquiring US healthcare firm Organon & Co., according to a Reuters report cited by Business Standard.
KPI Green Energy secured a significant contract with NACOF Oorja Private Limited for the turnkey Engineering, Procurement and Construction (EPC) of a 500 MW / 550 MWp solar photovoltaic power project, valued at approximately ₹2,025 crore inclusive of all taxes, as reported by Business Standard. NLC India announced the incorporation of a Joint Venture Company with National Aluminium Company Limited (NALCO) in a 50:50 ratio for development of a 1080 MW (4 X 270 MW) Thermal Captive Power Plant, according to Business Standard. Coal India and Hindustan Urvarak & Rasayan Limited executed a Non-Binding Memorandum of Understanding for exploring Coal Gasification based Urea Production at Sindri, Jharkhand.
Adroit Industries, ArMee Infotech, Swastika Infra and Elevate Campuses are among the stocks scheduled to list on the bourses today, as reported by Business Standard. TVS Motor has leased approximately 529,533 square feet of super built-up office space at Gardencity IT Park in Hebbal, Bengaluru. JSW Cement and its subsidiary Shiva Cement Limited have approved a scheme of arrangement involving amalgamation of Shiva Cement with JSW Cement. STL Networks emerged as the lowest bidder for a ₹249.8 crore contract floated by RailTel Corporation of India, according to Business Standard.
