Asia markets traded mixed on Wednesday amid uncertainties related to US tariffs.

US stock market ended lower on Tuesday after some disappointing corporate earnings, while investors awaited a Federal Reserve policy.

Here's a table showing how US stocks performed on Tuesday:

Source: Equitymaster

At present, the BSE Sensex is trading 158 points higher, and the NSE Nifty is trading 48 points higher.

Bharti Airtel, NTPC, Bharat Elec among the top gainers today.

Tata Motors, Eternal, and HUL, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.02% lower, and the BSE Smallcap index is trading 0.4% higher.

Sectoral indices are trading mixed today, with stocks in the metal sector and the power sector witnessing buying. Meanwhile, stocks in oil & gas sector and auto sector witnessing selling pressure.

The rupee is trading at Rs 87.0 against the US dollar.
 

GAIL & RVUNL Form Renewable Joint Venture

GAIL and RVUNL have partnered to combine their gas-based power plants with renewable energy projects, aiming for 1,000 MW of clean energy in Rajasthan.

The JV plans to construct approximately 250 MW of wind and 750 MW of solar power to supplement and bundle the gas plants' output.

Each of GAIL and RVUNL will own 50% of the JVC.

The goal of combining renewable energy with gas-based generation is to produce a power supply mix that is more dispatchable and flexible. This aligns with both the companies' initiatives to help India's energy transition while maintaining grid stability by using firm capacity.

After GAIL's investment, RVUNL will establish a wholly owned subsidiary that will become the JVC if the due diligence is completed satisfactorily. A separate agreement will be used to transfer the assets, and GAIL will then purchase or subscribe for shares in the company.

With an initial investment of Rs 10 lakh, the joint venture will have equal ownership. Three directors will be chosen by each partner to serve on the six-member board. For equity transfers, there will be a five-year lock-in period and a right of first refusal for both parties.
 

Piramal Enterprise Q1 Profit Jumps 52%

Non-bank lender, Piramal Industries reported its Q1 FY26 results.

Revenue from operations climbed 18.8% to Rs 26.5 billion (bn) from Rs 22.3 bn during the same period of the previous fiscal year.

The company's total assets under management (AUM) increased by 22% year over year (YoY) to Rs 857.5 bn.

The company's net interest margin (NIM) increased by 10 basis points to 5.9% quarter over quarter (QoQ). The growth business contributed Rs 2.9 bn to the quarter's profit before tax (PBT), which was Rs 3.01 bn.

Compared to the prior quarter, net non-performing assets (NPA) were 2% and gross non-performing assets (GNPA) were 2.8%. The growth business's credit cost decreased to 1.4% from 1.8% in Q4FY25.

AUM increased 37% year over year to Rs 690.1 bn in the retail lending segment of the growth business. 79% of retail AUM was made up of secured loans.

Piramal Enterprises' Q1 net profit rose 52.4% to Rs 2.7 bn from Rs 1.8 bn crore last year.

Piramal Enterprises' merger with Piramal Finance is expected to complete by September 2025. As of Q1FY26, the company has a net worth of Rs 271.7 bn and Rs 90.7 bn in cash and liquid investments.
 

Bank of India Q1 Profit Surges

Bank of India shares are in focus after the company reported its Q1 FY26 results.

The bank's loans grew 12.02% globally, with domestic loans up 11.24%. Retail loans rose 20%, MSME loans 17%, and agriculture credit 12%. Overseas advances increased 16.34%.

Domestic deposits increased 9.62%, while total deposits increased 9.07% year over year. With the CASA ratio at 39.88%, CASA deposits increased by 2.5%.

The bank's net interest income fell 3.3% to Rs 60.7 bn, but operating profit rose 9% to Rs 40.1 bn.

The bank's asset quality showed slight sequential improvement, with Gross NPA at 2.92% and Net NPA at 0.75%, down from 0.82% in the previous quarter.

The bank's return ratios were strong, with 0.82% ROA and 13.55% ROE. Credit cost improved, and provision coverage ratio increased to 92.94%.

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