The money will predominantly be used to refinance the debt the company had taken to fund its acquisition of diagnostics chain Thyrocare last year.

​​"There were three bidders initially. But effectively there was just one bidder - Vedanta. After due diligence, the other two could not tie up funding."

Spot gold was up 0.1% at $1,816.56 per ounce, by 0106 GMT. U.S. gold futures dipped 0.2% to $1,814.50.

The European common currency touched $1.0563 in early Asia trade, after rising 1.1% overnight, its largest day of percentage gains since March.

ITC, Pidilite Industries, IndiGo, Indian Overseas Bank, Lupin, Indraprastha Gas, AB Fashion, LIC Housing, Route Mobile, Manappuram Finance, Finolex Industries and Shyam Metalics are among the companies which will announce their earnings today.

Nifty50 on Tuesday formed a large bullish candle on the daily chart after making what looked like a Bullish Harami candle in the previous day, sending signs of reversal. With this, the index has chalked out a new range after offering strong support at the lower end of the 15,750-16,150 range in the last few sessions.

Balrishna Industries reported good set of numbers especially at the topline. Volume expansion was seen across all the geographies, verticals and channels.

The board of Cigniti Technologies will consider and approve a proposal for buyback of fully paid-up equity shares of the company today.

Stocks which were in focus include names like Hindalco which closed with gains of over 9 per cent, Vedanta rallied nearly 12 per cent, and Intellect Design Arena closed with gains of over 10 per cent.

Earlier this month, the first-year premium data of life insurers showed that the Life Insurance Corp (LIC) consolidated its position on the top with almost a one-and-a-half times increase in the first-year premium. LIC has a 65% market share, almost double the 35% of all private life insurers put together.