Biocon, Tata Steel, Orient Cement, Mahindra CIE Automotive, Sanofi India, Wipro

U.S. stocks stayed put as traders waited for the minutes of the latest Federal Reserve policy meeting to ascertain its stance in the days to come. The S&P 500 as well as the Nasdaq 100 moved little by mid-day in New York. Meanwhile, the yield on 10-year Treasuries declined four basis points to 3.91%.

Crude price fell 2.5%, while gold prices were little changed. Bitcoin declined 2.3%, trading below the $24,000 level.

Benchmark indices Sensex and Nifty extended their decline for the fourth consecutive session, as they crashed 1.5% each—the most in two weeks—tracking weakness in the global markets.

Rupee closed lower against the U.S. dollar for the second day in a row as the greenback and U.S. yields surged on hopes of more Fed hikes.

Mahindra CIE Automotive Q4 CY2022 (Consolidated, YoY)

Revenue up 34.6% at Rs 2246.84 crore (Bloomberg estimate: Rs 2,818.85 crore)
Ebitda up 62.19% at Rs 292.40 crore (Bloomberg estimate: Rs 357.15 crore)
Ebitda Margin at 13.01% vs 10.8% (Bloomberg estimate: 12.7%)
Net loss of Rs 657.81 crore vs net profit of Rs 80.23 crore (Bloomberg estimate: Rs 196.45 crore profit)
The company recorded a loss of Rs 923.37 crore on fair valuation of assets and liabilities of discontinued operations during the quarter under review.