NEW DELHI: The domestic equity market shrugged off worries over US pullout from the Iran nuclear deal and notched up gains on Wednesday.Heavy buying in index heavyweights HDFC Bank, Reliance Industries and TCS gave a good 103-point lift to the SP BSE Sensex.
NSEs Nifty rose 24 points to 10,741.Heres a look at the 10 key things you would like to know about Wednesdays market:Tata Motors rides high post JLR sales nosTata Motors rallied over 4 per cent during the day as Jaguar Land Rover (JLR) sales grew at an annual 11.90 per cent to 45,180 units for April.
Sales of its subsidiary were driven primarily by introduction of new models, including the Range Rover Velar, the Land Rover Discovery and the Jaguar E-PACE.
The stock settled at Rs 341.35, up 2.79 per cent.Walmart acquires Flipkart for $16 billionWalmart on Wednesday announced its high profile acquisition of Flipkart for $16 billion for a valuation of over $20 billion, making it the largest ecommerce acquisition in the world.
The Bentonville company has acquired 77% of the Bangalore-based company, as per sources.
This is also the largest buyout for the US company with its biggest bet ever in online space and on India, underscoring the growing digital consumption potential in a country of 1.3 billion.
READ MOREQ4 numbers lift ArvindShares of the textile manufacturer surged 6 per cent in the intraday trade after the company reported 18 per cent jump in its March quarter profit at Rs 115.47 crore.
The company had logged a profit of Rs 97.71 crore in the corresponding quarter last fiscal.
At close, the stock price of the company stood at Rs 439 apiece, up 4.64 per cent on BSE.Shasun strides on Canada dealDrug firm Strides Shasun on Wednesday said it has agreed in principle with Canada's Apotex to merge their business operations in Australia.
The arrangement would help Bangalore-headquartered Strides, which will have a controlling stake in the merged entity, to move to a leading position in the Australian market, the company said in its statement.
The stock ended 3.63 per cent higher at Rs 572.35 per share.BSE readies for commodities tradeLeading stock exchange BSE on Wednesday entered an agreement with Sohan Lal Commodity Management (SLCM) for supporting its much-awaited launch of agri-commodities trading.
Under the agreement SLCM shall provide warehousing, assaying services, crop management services to BSE for the purpose of storage of various food grains, pulses and other agro-based commodities at various places in India.Crude oil tops $77Oil prices rose more than 3 per cent on Wednesday, hitting 3-1/2-year highs, after US President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.
Brent crude oil touched its highest since November 2014 at $77.20 a barrel.
The benchmark contract was up $2.15 a barrel, or more than 2.8 per cent, at $77.00.
US light crude was up $1.90 a barrel, or almost 2.8 percent, at $70.96, near highs also last seen in late 2014.
READ MORESpurt in open interestArvind saw the biggest jump in open interest at 49.42 per cent, followed by Cholamandalam Investment and Finance (30.38 per cent) and Kajaria Ceramics (27.73 per cent).Poor Q4 slows down Eicher MotorsRoyal Enfield maker Eicher Motors on Wednesday posted a marginal 0.45 per cent year-on-year (YoY) rise in consolidated profit at Rs 461.53 crore for the quarter ended March 2018.
The numbers were way below the ETNow poll of Rs 610 crore.
Consolidated total revenue from operation increased 18.54 per cent to Rs 2,528.01 crore in Q4FY18 over Rs 2132.54 crore in Q4FY17.
ET Now poll had projected revenue of Rs 2,517 crore during the quarter under review.
The results came post market hours.
Shares of the company ended at Rs 30,305.45, apiece, down 0.43 per cent.Good show for Indostar Capital IPOThe initial public offering (IPO) of NBFC Indostar Capital Finance was subscribed 19 per cent on Day 1 of the bidding process.
At 04:15 pm, total bids received stood at 42,68,836 shares against the total issue size of 2,25,75,438 shares.
The firm aims to raise Rs 1,844 crore from the issue.
The price band of the offer has been fixed at Rs 570 572 with face value of Rs 10 per share.
On Tuesday, the company raised Rs 553.2 crore from anchor investors by allotting 96.7 lakh shares to 24 anchor investors.
READ MOREAirtel may list African unitTelecom major Bharti Airtel is looking to pare $4.6 billion from its net borrowings over the next three years by listing its African unit and potentially selling some stake in its tower business, Bloomberg reported citing a person with knowledge of the matter.
Shares of the firm closed 0.46 per cent higher at Rs 402.60 apiece on BSE.
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