Key benchmark indices opened higher in early trade, Wednesday against the previous day’s closing. The Indian rupee made stronger marginally against the USD. The shares of M&M, Adani Ports and Reliance Industries rose, whereas the shares of Tata Motors and Bharti Airtel fell in the morning hours.
The US Fed Reserve’s 2-day policy meeting will conclude later today. The US central bank is supposed to announce details of its plan to start shrinking the USD 4.5 trillion balance sheet.
Tata Steel has inked MoU for a 50-50 European steel Joint Venture. Its stock rose 1 percent in the morning. Tata Sons has raised stakes in its group firms such as Tata Motors, Tata Chemicals, and TGBL, buying shares worth over Rs 3,200 crore.
Shares of Infosys Ltd rose 0.11 percent at Rs 912.30 after the company announced that Infosys Finacle, a wholly-owned subsidiary of the company announced its partnership with Niki.AI commerce solutions.
The Initial Public Offering (IPO) of SBI Life Insurance Co. Ltd worth Rs 8,400 crore is set to hit the market today, with a price band of Rs 685-700 per share.