Highlights

11.50 am ISTAshok Leyland bags Rs321 crore order
11.47 am ISTAlembic Pharma gets 3 observations from USFDA for Gujarat plant
11.45 am ISTTRF shares jump over 4% on divestment proposal in unit
10.40 am ISTMarket update
10.37 am ISTMidhani IPO opens today: Brokerages divided on prospects
10.35 am ISTVedanta shares trade higher
9.40 am ISTBanking stocks trade higher
9.37 am ISTRIL shares rise 1% as unit plans to raise Rs20,000 crore via NCDs
9.35 am ISTAdani Power shares gain
9.33 am ISTMid-cap IT is growing faster, but what about risks?
9.30 am ISTRupee trades flat against US dollar ahead of Fed policy decision
9.27 am ISTMarket update

BSE Sensex and NSE Nifty trade higher on Wednesday. Photo: Mint

Mumbai: Benchmark indices traded higher for the second session on Wednesday, with BSE Sensex rising over 200 points and NSE’s Nifty 50 inching near 10,200 in the opening trade. The rupee was trading little changed against the US dollar ahead of the US Federal Reserve’s policy statement due later on Wednesday. The US Fed is expected to raise interest rates, and thereafter go for two more rate hikes this year. A rate hike by the Fed at its current meeting is more or less a certainty and is already priced in by the markets, Mint reports. Here are the latest updates from the markets:
11.50 am IST Ashok Leyland bags Rs321 crore orderAshok Leyland Ltd said that it has won an order worth Rs321 crore for supply of 2,100 buses from the Institute of Road Transport in Tamil Nadu. Shares rose 1.58% to Rs148.15.
11.47 am IST Alembic Pharma gets 3 observations from USFDA for Gujarat plantAlembic Pharmaceuticals Ltd said that the USFDA has conducted an inspection at Alembic Pharmaceuticals formulation facility located at Panelav, Gujarat, and issues a Form 483 with three observations. Alembic Pharma shares were trading at Rs550, up 3.05%.
11.45 am IST TRF shares jump over 4% on divestment proposal in unitTRF Ltd said that the board of directors of TRF Singapore Pte. Ltd and TRF Holdings Pte. Ltd has recommended for the sale/divestment of the entire shareholding in step down subsidiary York Transport Equipment (Asia) Pte Ltd. TRF shares rose 4.65% to Rs208.10.
10.40 am IST Market updateBSE Sensex traded higher by 327.09 points, or 0.99%, to 33,323.85, while the Nifty 50 rose 93.10 points, or 0.92%, to 10,217.45. All the sectoral indices on BSE traded higher led by realty, which was up 1.84%, telecom 1.82%, finance 1.20% and bankex 1.10%. BSE MidCap and SmallCap gained 1.06% and 1.25%, respectively.
10.37 am IST Midhani IPO opens today: Brokerages divided on prospectsBrokerages were divided about the prospects of the Rs438-crore initial public offer (IPO) of speciality alloy maker Mishra Dhatu Nigam Ltd (Midhani), which launches on Wednesday. While some felt the valuation was expensive, a few were upbeat on the IPO given the strong outlook for the company. Read More
10.35 am IST Vedanta shares trade higherVedanta Ltd shares gained 1.5% to Rs292. The company said its board will meet on 23 March to consider raising upto Rs 4500 crore via bonds.
9.40 am IST Banking stocks trade higherBanking stocks gain. IDBI Bank rose 3.1%, Bank of India 3%, Canara Bank 2.4%, Indian Bank 2.2%, Union Bank of India 2.1%, Syndicate Bank 2.1%, Oriental Bank of Commerce 2%, Allahabad Bank 2%, Vijaya Bank 1.8%, Punjab National Bank 1.7%, Andhra Bank 1.6%, Karnataka Bank 1.6%, Dena Bank 1.5%, Yes Bank 1.5%, Central Bank of India 1.5%.
9.37 am IST RIL shares rise 1% as unit plans to raise Rs20,000 crore via NCDsReliance Industries Ltd shares rose 1% to Rs898.65. The telecom unit of Reliance Industries to consider in its 23 March meeting a plan to raise up to Rs20,000 crore via non-convertible debentures on a private placement basis in tranches, according to a statement on exchanges.
9.35 am IST Adani Power shares gainAdani Power Ltd shares rose 1.4% to Rs 26.15 after the company said its arm Adani Power Mundra to consider buy-back of debenture on 23 March.
9.33 am IST Mid-cap IT is growing faster, but what about risks?While it’s true that some of these companies are growing revenue and profit at a faster pace, what shouldn’t be ignored is that some of the risks associated with mid-sized companies haven’t really disappeared. And with valuations having risen so high, risks for investors have just compounded.
Mid-cap IT stocks' sales and profit growth have outpaced their large-cap counterparts, but also remember that risks associated with them are still around says @mobis_philipose https://t.co/W9YJ4fgGyG
— Mint Mark to Market (@livemint_m2m) March 21, 2018
9.30 am IST Rupee trades flat against US dollar ahead of Fed policy decisionThe rupee was trading little changed against the US dollar ahead of the US Federal Reserve’s policy statement due later on Wednesday. The rupee opened at 65.23 a dollar. The home currency was trading at 65.20 a dollar, the same level as its Tuesday’s close. The 10-year bond yield was at 7.645% compared to its previous close of 7.618%.
9.27 am IST Market updateBSE Sensex traded higher by 218.78 points, or 0.66%, to 33,215.54, while the Nifty 50 rose 64.45 points, or 0.64%, to 10,188.80.