Rising government debt and borrowing costs are bringing the issue of fiscal dominance back into focus, with concerns that central banks could eventually face pressure to support government financing. The debate could have implications for monetary policy, inflation, currencies and sovereign bond markets.
The stock closed at $158.83, up 14.36% on the day, according to MarketScreener
Motilal Oswal has reiterated its Buy rating on Vedanta Aluminium Metal with a target price of Rs 540, implying 21% upside. The brokerage expects EBITDA to grow at an 18% CAGR through FY26-28, supported by higher volumes, cost efficiencies, greater value-added production and favourable aluminium market dynamics.
Cyient shares jumped 8% after the IT services company outlined its growth and margin roadmap at its investor day. Management is targeting double-digit revenue growth and EBIT margins above 15% in the near term, while brokerages remained divided on the pace of recovery. Motilal Oswal retained its Sell rating, while Nuvama and PL Capital maintained Hold ratings with higher target prices.
Welspun Corp shares fell sharply on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal. Promoter group entity Welspun Investments and Commercials and CEO Vipul Mathur were likely sellers. The transaction represented about 2.4% of the company’s outstanding shares and came after a sharp rally.
On Wednesday, stocks in China and Hong Kong surged, reflecting a favourable global market environment. Technology and artificial intelligence supply-chain companies attracted significant investor interest. Alibaba shares rose after the company’s chairman purchased additional stock.
Gujarat’s reported decision to extend port concessions has removed a key overhang for Adani Ports and Gujarat Pipavav. While Pipavav stands to benefit more immediately as its concession expires in 2028, Adani Ports gains longer-term visibility for its Gujarat assets. Brokerages, however, see a sharper valuation risk for Pipavav.
Gold and silver prices opened higher on the MCX on Wednesday as investors awaited key US inflation data for cues on the Federal Reserve’s interest-rate path. MCX September silver futures rose Rs 2,053 to Rs 2,46,180 per kg, while October gold futures gained Rs 320 to Rs 1,63,202 per 10 grams. The US PCE inflation data is due later today.
MTAR Technologies shares gained 3% after the company secured a Rs 127 crore order from Nuclear Power Corporation of India for coolant channel assemblies used in reactor refurbishment. The order takes its civil nuclear order book above Rs 775 crore, while the company expects 80% revenue growth in FY27 and sees further opportunities from reactor refurbishment and new nuclear projects.
Bank of Japan Governor Kazuo Ueda’s absence from the Jackson Hole meeting has shifted attention to BOJ board member Naoki Tamura and Deputy Governor Ryozo Himino for clues on monetary policy. Markets are increasingly pricing in a September rate hike, with economists expecting the BOJ to raise its policy rate to 1.25%.
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