• VA Tech Wabag: Board approves issuance of up to 75 lakh shares on a preferential basis at Rs 160 per share. The issue price is a 30% discount to Tuesday's closing. Rekha Rakesh Jhunjhunwala will be issued up to 50 lakh shares while the other 25 lakh will be issued among Basera Home Finance, Sushma Anand Jain and Anand Jaikumar Jain of Jai Corporation.
• Punjab National Bank: Recovers Rs 24 crore in the Nirav Modi case. On liquidation of Nirav Modi's assets by the U.S. Chapter 11 trustee, Rs 82.66 crore were made available for distribution to unsecured creditors including PNB. Further recovery is subject to other expenses and settlement claims of other claimants.
• TCS: S&P revises long-term issuer credit rating to stable from positive while affirming the rating as A. S&P says that the company is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global I.T. spends.
• Hindustan Oil Exploration: Malaysia tribunal has upheld certain claims by claimant Hardy Exploration & Production in an arbitration case. The claimant has sought to enforce the award through a petition before the Gujarat High Court and the financial implication is Rs 10 crore. The company will be contesting the case in appropriate legal forums both in India and Malaysia.
• JMC Projects: Received new infra order worth Rs 554 crore in the building and factory segment. It has won orders worth Rs 4,000 crore till date in FY21.
• Acrysil: To expand capacity for quartz kitchen sinks by 20% to 6 lakh units per annum at its Gujarat plant to meet increasing demand from the export market. Total capex of Rs 15 crore will be funded by internal accruals and the new capacity will be commissioned by March 2021.
• J&K Bank: To consider raising Rs 4,500 crore during fiscal 2021, on August 28.
• Non-Nifty Earnings Today: Gillette, GMDC, Indraprastha Gas, Hindustan Foods, DCM

To know more about earnings reported after market hours, key brokerage updates and F&O cues, click here.

Good Morning!

India's benchmark indices ended flat on Tuesday but the Nifty Bank outperformed for the third straight day. The banking gauge has gained more than 1,000 points over the last three sessions.

For the August series, the Nifty 50 has risen 3.3%, while the Sensex is up 3%.

While futures are pointing to a positive start for Wednesday's trade, the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 11,497 as of 7:40 a.m.

The street will watch out for stocks like Can Fin Homes and Ircon International that reported their quarterly results after market hours on Tuesday. Gillette, GMDC, Indraprastha Gas, Hindustan Foods are set to announce their financials on Wednesday.

The rally in Asian markets has taken a pause as investors mull the pace of recent gains and expectations of loose monetary policy. Markets in Japan, Australia and South Korea are declining, while those in China and Hong Kong are flat.

Futures on the Dow Jones are trading lower by 50 points. The index had ended 0.2% lower on Tuesday. The S&P 500 and Nasdaq outperformed, ending at new record highs.

West Texas Intermediate crude is flat at $43.3 per barrel after Hurricane Laura bore down on key refining facilities on the U.S. coast.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.