Equities in Asia fell while the yen stabilized along with Treasuries after a selloff on Wednesday as traders scaled back bets on US interest-rate cuts.US Stocks fell sharply on Wednesday, with the Dow Jones Industrial Average posting its worst day in more than a month, as higher Treasury yields weighed on market sentiment.Here’s a table showing how US stocks performed on Wednesday:

Source: EquitymasterAt present, the BSE Sensex is trading 65 points higher and NSE Nifty is trading 25 points lower.HDFC Bank, Tata Motors and Trent among the top gainers today.Hindalco, HUL and Bharti Airtel the other hand are among the top losers today.Broader markets are trading on negative note. The BSE Midcap index is trading and the BSE Smallcap index are trading 0.3% higher.Sectoral indices are trading mixed today with in realty sector and power sector witnessing most buying. Meanwhile stocks in metal sector and FMCG sector witnessing selling pressureThe rupee is trading at Rs 84.07 against the US dollar.In commodity markets, gold prices are trading 0.2% higher at Rs 77,970 per 10 grams today.
 HUL to Separate Ice Cream BusinessIn a significant move, the Board of Directors of Hindustan Unilever Limited (HUL) announced the decision to separate its ice cream business on Wednesday.This decision follows a thorough evaluation by a committee of Independent Directors, which was tasked with determining the best path forward for this segment.The Independent Committee outlined several key considerations that influenced the Board’s decision.The ice cream category, which contributes approximately 3% to HUL’s overall turnover, is identified as a high-growth market that requires substantial investments to unlock its full potential.Given Unilever owns the trademarks and know-how and has announced the separation of its ice cream business, local capabilities will need to be developed to continue running the business.The ice cream business operates under a unique model that includes specialised cold chain infrastructure and a distinct channel landscape, which limits potential synergies with the rest of HUL’s operations.This restructuring is aimed at allowing HUL to concentrate more on its core business areas while enhancing its presence in trending sectors such as beauty, food, health, and Well-being.By separating the ice cream business, HUL will enable this segment to operate with increased flexibility and focus, ultimately maximizing value for shareholders.

Pidilite Industries Q2 Results
Fevicol maker Pidilite Industries posted a double-digit jump in its second quarter net profit aided by favourable input costs, but revenue growth stayed in the mid-single digits.In its financial results for the second quarter of FY25, Pidilite announced a net profit of Rs 5.4 bn, marking a 17.8% increase compared to Rs 4.6 bn in the corresponding quarter of the previous fiscal year.The adhesive maker’s revenue stood at Rs 32.3 bn. On the operational front, Pidilite’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) of Rs 7.7 bn, resulting in a margin improvement to 23.8%.The company’s consumer business showed a volume growth of just 6%, which was below the expected range of 8-10%.In Q2FY25, consumer revenue grew by 2.9% year-on-year (YoY) to Rs 25.8 bn, up from Rs 25.1 bn in the same period last year. The EBIT for this segment increased by 11.2% to Rs 7.7 bn, with margins improving to 29.9%, up from 27.6%.Compared to its consumer business, Pidilite’s B2B segment exhibited robust growth, with a 21% increase in volume driven by its industrial and project verticals.Despite the challenges on the demand front owing to adverse weather conditions at the start of the quarter, the company has expressed optimism for the second half of the fiscal year.A healthy monsoon, increased government spending, and growing new construction activity are seen as positive indicators for future demand.
 Piramal Enterprises Profit Surges 238%Piramal Enterprises Ltd. (PEL), a leading diversified NBFC, reported a substantial 238% year-on-year (YoY) jump in consolidated net profit to Rs 1.6 bn.This marks a significant rise from Rs 481.9 m in the corresponding quarter of the previous fiscal.The company posted total revenue of Rs 20.8 bn for Q2 FY25, reflecting a 17% YoY increase from Rs 17.8 bn in Q2 FY24.The company’s Growth AUM surged 45% YoY to Rs 626.3 bn, while its retail lending segment saw a 42% rise in AUM to Rs 547.4 bn. Mortgage disbursements also increased by 39% YoY, reaching Rs 46.5 bn.Despite higher operating expenses, which grew 12% YoY to Rs 7.4 bn, the company managed to improve its operational efficiency, leading to a 58% YoY jump in pre-provision operating profit (PPOP), which stood at Rs 3.9 bn. Provisions for loan losses also surged 60% YoY to Rs 3.2 bn.More By This Author:Sensex Today Ends 139 Points Lower; Nifty Below 24,450Sensex Today Trades Higher; Amber Enterprises Rallies 7%Sensex Today Tanks 931 Points; Nifty Ends Below 24,500