Business

The Union Cabinet has approved a Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for railway employees, costing Rs 1,865.68 crore. This decision, benefiting approximately 10.91 lakh non-gazetted employees, acknowledges their performance in a year of record operational numbers for Indian Railways. The maximum payable amount per employee is set at Rs 17,951.

HSBC has upgraded India’s equities rating to ‘Overweight’, projecting a Sensex target of 94,000 by 2026, indicating a 13% potential increase. This decision is driven by appealing valuations, supportive government policies, and consistent domestic investor engagement.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Wednesday on weak global cues. While Nifty50 was below 25,100, BSE Sensex was down over 200 points.

Stock market recommendations: Mehul Kothari from Anand Rathi Shares recommends buying Greaves Cotton, Vadilal Industries, and Capri Global. Greaves Cotton shows a symmetrical triangle breakout with a target of ₹275. Vadilal Industries exhibits an inverse head and shoulder breakout, aiming for ₹7,000. Capri Global presents a range breakout with momentum confirmation, targeting ₹215.