Indian Markets opened almost flat on Wednesday but have witnessed volatility. Markets are trading in a range and stock specific moves have been witnessed. Bank Nifty was trading higher during morning session but slipped during afternoon. The markets NSE Nifty seems to have resistance at 25112 and support at 25022 for intraday trades. The markets are certainly looking forward to the trends in the US markets. As inflation data will be released today in the US, we can expect strong moves in the US indices.

Among major gainers in today’s trade were Bajaj Auto, Bajaj Finance, Asian Paints, Sun Pharmaceuticals, Britannia, HCL Technologies and Tata Consumer Products.

Among major gainers in Nifty were Tata Motors, ONGC, BPCL, Hindalco and Wipro.

Indian markets are expected to close lower today and we could see higher volatility in the markets tomorrow. Also, tomorrow’s opening would depend on the trends in the US markets.

Gravita India Shares Decline Amid Acquisition News

Gravita's Expansion into Tyre Recycling
Gravita India’s stock price fell by over 3% on Wednesday following the company’s announcement that its step-down subsidiary, Gravita Netherlands BV, signed an MOU to acquire a waste tyre recycling plant in Romania. This acquisition, part of Gravita’s strategy to expand into the European market, involves a facility with an annual capacity of 17,000 metric tonnes per annum (MTPA). Despite the long-term growth prospects, investor sentiment turned negative, reflecting concerns about short-term financial commitments.

Strides Pharma Gains on Shareholder Approval for OneSource

First Specialty CDMO in India
Strides Pharma Science witnessed a 2.4% increase in its stock price after the company's equity shareholders and secured creditors approved the creation of OneSource, India’s first specialty pharma Contract Development and Manufacturing Organisation (CDMO). This strategic move positions Strides to capitalize on the growing global demand for specialized pharmaceutical services, signaling confidence among investors regarding future revenue streams.

Aurobindo Pharma Receives USFDA Approval for New Facility

Key Milestone for Aurobindo’s Expansion
Aurobindo Pharma informed the exchanges that its new injectable facility in Andhra Pradesh has received its first product approval from the US Food and Drug Administration (USFDA). This marks a critical milestone in Aurobindo’s expansion plans, as USFDA approvals are essential for tapping into the lucrative U.S. market. The news provides a strong boost to the company’s growth trajectory, as Aurobindo continues to enhance its manufacturing capabilities.

Suzlon Energy Rallies as Stock Nears Recent High

Sustained Momentum in the Renewable Sector
Shares of Suzlon Energy Ltd., a leading provider of wind energy solutions, have been locked in an upper circuit of 5% for two consecutive trading sessions. This brings the stock near its recent high of ₹84.29, last reached in mid-August before a brief consolidation period. Investors remain bullish on the company, driven by strong sentiment in the renewable energy sector and expectations for long-term growth in India’s clean energy initiatives.

Indian Automakers Feel the Impact of German Automakers’ Troubles

BMW and Volkswagen Challenges Reverberate
Select Indian automakers and component suppliers are beginning to feel the ripple effects of challenges faced by German automakers BMW and Volkswagen. BMW recently lowered its EBIT margin guidance for 2024 to 6%-7%, down from 8%-10%, while its motorcycle segment faces similar declines. With the German automotive giants struggling, the broader industry, including Indian suppliers, may face pressure on margins and supply chains, affecting near-term profitability.