Stocks in Asia fell Wednesday after solid economic readings and higher commodities prices spurred speculation that major central banks will keep interest rates higher for longer.Benchmarks in Australia, South Korea, and Japan declined, while Hong Kong share futures traded flat.Contracts on US equities edged lower after the S&P 500 fell 0.7% and the Nasdaq 100 dropped 0.9% in Tuesday trading.Here’s a table showing how US stocks performed on Tuesday:

Source: EquitymasterAt present, the BSE Sensex is trading 306 points lower and NSE Nifty is trading 84 points lower.Hindalco, ONGC, and Tech Mahindra are among the top gainers today.Nestle, Britannia, and Sun Pharma on the other hand are among the top losers today.Broader markets are trading on a positive note. The BSE Midcap index is trading marginally higher and the BSE Small Cap index is trading 0.6% higher.Sectoral indices are trading mixed, with stocks in the oil & gas sector, metal sector, and power sector witnessing buying. Meanwhile, stocks in the realty sector and telecom sector witnessed selling pressure.The rupee is trading at Rs 83.39 against the US dollar.In commodity markets, gold prices are trading 0.6% higher at Rs 69,359 per 10 grams today.Meanwhile, silver prices are trading 1.2% higher at Rs 77,990 per 1 kg.
 UltraTech Cement’s Capex PlanIndia’s largest cement manufacturer, UltraTech Cement, announced on Tuesday that it will invest Rs 324 bn in the next three years as part of its ongoing expansion plans.UltraTech had previously stated plans to increase its cement manufacturing capacity to close to the 200 million tonnes per annum (mtpa) mark. On Tuesday, the company further elaborated on the investment figure needed to achieve this stated target.The country’s rising expenditure on infrastructure projects and steady growth in demand for housing, aided by various government schemes, have led to a robust increase in cement sales.Demand is projected to maintain its approximately 8% growth rate in the current financial year. This buoyant demand has prompted cement companies to plan capacity expansions to maintain and gain market share.As part of its ongoing expansion plan, UltraTech also commissioned two new greenfield capacities totaling 5.4 mtpa in the states of Chhattisgarh and Tamil Nadu. With this, UltraTech’s total capacity now stands at 151.6 mtpa.UltraTech will add another 35.5 mtpa to the present 151 mtpa capacity through ongoing expansion at 16 locations.Furthermore, UltraTech is also in the process of finalizing the previously announced acquisition of Kesoram Cement, with a total capacity of 10.75 mtpa.Once completed, these investments are likely to increase the company’s overall capacity to 198.2 mtpa.

J&K Bank Partners New India Assurance
To provide comprehensive financial solutions to its customers, J&K Bank today entered into a Corporate Agency Agreement with the country’s premier general insurance provider, New India Assurance Company.This strategic collaboration aims to enhance the scope of financial protection and insurance solutions offered to the Bank’s customers across various segments.J&K Bank is the major financial institution in J&K & Ladakh with a strategic pan India presence, and NIACL is the leading general insurer in the country, so coming together of two giants will provide convenience and choice to our customers in terms of choosing a variety of insurance products.Through this association, NIACL’s insurance products will be available at all Bank’s branches pan-India.
 ZEE’s MD & CEO Takes Voluntary Pay CutZEE Entertainment Enterprises MD & CEO, Punit Goenka on 2 April announced that he is taking a 20% cut in his remuneration on grounds of focusing on the company’s growth plans.Zee said that Goenka’s decision has been submitted to the Nomination and Remuneration Committee of the Board and the Chief Financial Officer.Recently, Zee, which went through a termination process of the mega $10 billion merger with Sony Pictures Networks India after around two years of talks, announced that its revenue vertical will directly report to Goenka.This announcement is the first step towards streamlining the organization and is expected to help optimize resource allocation and enhance productivity.Further, the company also stated that under the guidance of the Board, Goenka will continue to take all the strategic steps that are aimed at generating value for the Company’s shareholders.The Board of the Company, chaired by Gopalan, has instituted the required measures, to guide and mentor the management regularly, to enable the team to achieve the set goals for the company.The board of Zee had last month institutionalized a structured Monthly Management Mentorship (3M) Program.More By This Author:Sensex Today Ends 110 Points Lower; Broader Indices Rise Over 1%Nifty Trades Above 22,450; Adani Ports Rises 3%Sensex Today Rallies 639 Points; Suzlon Energy Surges 5%