NDTV Profit Pulse On April 16: Wipro Q4 Results To Gensol's Stock Plunge — Top Stories Of The Day
Today's top news includes Wipro earnings that beat estimates, Gold prices scaling new highs driven by global cues, developments on allegations on Gensol Engineering and more.
Today's top news includes Wipro's fourth quarter bottomline beating estimates, gold prices scaling new highs driven by global cues, developments on allegations against Gensol Engineering and more.
On the equity markets front, Indian benchmark indices BSE Sensex and NSE Nifty 50 continued their upward trajectory to close higher for the third consecutive trading session today.
In the US market, S&P 500 nearly fell 0.2% and was trading near 5,400 levels after opening. Nasdaq 100 declined over 1.6% and was trading near 16,500 levels.
Here’s a quick roundup of today’s key headlines:
Wipro's Q4 Profit Beat Estimates, Q1 Guidance Lowered
Wipro's outlook for the June quarter remains muted amid an uncertain macro environment as the company guides for degrowth of -3.5% to -1.5%.
Consolidated revenue in the fourth quarter of the last financial year rose 0.8% sequentially to Rs 22,504.2 crore, according to an exchange filing on Wednesday.
The information technology major's net profit increased 6.6% sequentially to Rs 3,588 crore, beating the consensus estimate of Rs 3,364 crore.
Read more here.
Gold Price Soars To Record High
The price of 24-karat gold in the retail market soared by Rs 1,650 to hit an all-time high of Rs 98,100 per 10 grams in New Delhi. The prices were driven higher by the global rush for safe-haven buying that was triggered by an escalating trade war between the US and China.
According to the All India Sarafa Association, the precious metal of 99.9% purity had closed at Rs 96,450 per 10 grams on Tuesday. Gold prices recorded its steepest intraday hike on April 11 when it jumped over Rs 6,200.
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Supreme Court Begins Hearing Pleas Against Waqf
The Supreme Court on Wednesday began hearing on a batch of petitions challenging the constitutional validity of the Waqf (Amendment) Act, 2025. A bench comprising Chief Justice Sanjiv Khanna and Justices Sanjay Kumar and K V Viswanathan outlined two aspects.
"There are two aspects we want to ask both the sides to address. Firstly, whether we should entertain or relegate it to the high court? Secondly, point out in brief what you are really urging and wanting to argue?" the CJI said.
Read the full story here.
Gensol Engineering Shares Plunge
Gensol Engineering Ltd.'s stock hit the 5% lower circuit limit, day after the Securities and Exchange Board of India's decision to bar the company's promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, for alleged fund diversion and record falsification.
The markets regulator has prohibited the Jaggi brothers from holding any key managerial positions within the company, effectively removing them from their leadership roles.
Read more here.
Paytm CEO Forgoes 2.1 Crore ESOPs
Paytm Chief Executive Officer Vijay Shekhar Sharma has voluntarily forgone all 2.1 crore employee stock option plan, or ESOP units granted to him, according to an exchange filing on Wednesday.
The move comes amid regulatory lens, as SEBI had last year issued a show-cause notice to Paytm over the ESOPs granted to Sharma. The regulator's scrunity centred around Sharma's status as a public shareholder in the company. As per the SEBI norms, promoters are prohibited from receiving ESOPs.
Read the full story here.
India’s $10-Billion Pharma Exports To US Face Probe Risk
India’s pharmaceutical exports to the United States, worth nearly $10 billion annually, may come under pressure as the US government initiated an investigation on Monday into the national security implications of importing medicines and related ingredients.
The probe, launched by the US Commerce Department, will assess the extent to which the country’s reliance on foreign pharmaceutical imports could pose a threat to its domestic healthcare system.
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WTO Slashes Outlook For Global Trade On Trump Tariff
The World Trade Organisation slashed its forecast for merchandise trade this year as soaring US tariffs and broader uncertainty hammer international commerce.
In its new forecasts, the Geneva-based WTO expects the volume of world merchandise trade to decline by 0.2% in 2025 — almost three percentage points lower than it would have been without the US-led trade war, marking a dramatic reversal from expectations at the start of the year. Trade is forecast to rebound by 2.5% in 2026.
Read the full story here.
