Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from Wall Street overnight, as traders continued to be cautious and look ahead to key U.S. and European inflation readings later in the week.Wall Street stocks climbed early Tuesday, shrugging off the prior session’s decline as the market searches for direction ahead of quarterly earnings season.Here’s a table showing how US stocks performed on Tuesday:

Source: EquitymasterAt present, the BSE Sensex is trading 330 points lower and NSE Nifty is trading 110 points higher.Maruti Suzuki, BPCL and Titan are among the top gainers today.UPL and Wipro on the other hand are among the top losers today.Broader markets are trading on positive note. The BSE Midcap index id trading 0.5% higher and the BSE Small Cap index is trading 0.8% higher.Sectoral indices are trading positive, with socks in oil & gas sector, and power sector witnessing buying.The rupee is trading at Rs 83.34 against the US dollar.In commodity markets, gold prices are trading flat at Rs 66,125 per 10 grams today.Meanwhile, silver prices are trading 0.1% lower at Rs 74,430 per 1 kg.
 Infibeam Avenue’s Subsidiary to Raise FundsInfibeam Avenues shares will be in focus on 27 March as the fintech’s UAE-based subsidiary is planning to raise around US$ 25 million (m) through a pre-IPO round.Avenues World FZ-LLC is raising US$ 25 million through a pre-IPO round before potential listing in the UAE capital market with a select group of investors. Consequently, it would cease to be a wholly owned step-down subsidiary of the company post the said fundraising.The transaction will be completed within the next 45 days, and Vavian International, the wholly owned subsidiary of the company, will continue to hold a 75% stake or more in Avenues World FZ-LLC due to indirect dilution of up to 25% of the post-issue capital.On 5 March, the AI-powered fintech company received the final authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator under the Payment Settlements Act, 2007 for CCAvenue.In October 2022, Infibeam Avenues received in-principle approval from the banking regulator to operate as a Payment Aggregator (PA). Now, the RBI has granted the company the final Payment Aggregator licence.

Sanofi Partners Cipla
Sanofi India and Cipla announced on Tuesday an exclusive partnership to boost access to Sanofi’s Central Nervous System (CNS) medications across India.Cipla will leverage its extensive network to distribute Sanofi’s CNS portfolio, including Frisium, a leading anti-epileptic drug. Sanofi will retain ownership, import, and manufacture of the CNS products.Sanofi India’s CNS products are leaders in their respective categories. These well-established brands already improve the lives of many patients across urban centres in the country.Cipla’s wide presence will enable us to expand the reach of this portfolio to healthcare professionals and patients across all India.
 Apollo Pipes Acquires Stake in Kisan MouldingsApollo Pipes on Tuesday acquired 53.6% share capital and voting rights in Kisan Mouldings Ltd (KML) for Rs 1.2 bn.Under the transaction, Apollo Pipes has secured its position through preferential issue allotment of 6,40,00,000 equity shares at an issue price of Rs 18.5 per share, having a face value of Rs 10 each. As a result of the capital infusion, Kisan Mouldings Ltd has become a subsidiary of Apollo Pipes.The acquisition aligns seamlessly with Apollo’s overarching strategy to fortify its foothold as a premier manufacturer in the Plastic Pipe Industry within India. By integrating KML into its portfolio, Apollo aims to expand its legacy while unlocking synergistic benefits that promise greater market penetration and entry into new end-user segments.Additionally, the acquisition will facilitate Apollo’s geographical expansion, particularly in the Western and Central regions, further leveraging the esteemed KML network for accelerated growth.KML brings an extensive range of high-quality products, encompassing a wide range of SKU, including plastic pipes and fittings for building and agricultural purposes and cost-effective PVC products, available in various designs, colours, and functionalities, to cater to diverse preferences and purposes, the company added.More By This Author:Sensex Today Ends 361 Points Lower; Broader Markets Outperform Sensex Today Trades Lower; Nifty Below 22,100 Sensex Today Ends 190 Points Higher; Auto Stocks Shine