Asian shares rallied on Thursday after blockbuster results from tech darling Nvidia boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally.

The Nikkei is trading 0.4% higher while the Hang Seng index is higher at 1.9%. The Shanghai Composite is trading 0.5% higher.

US stocks climbed on Wednesday, led by tech shares after Nvidia shares jumped on hopes of stronger quarterly results.

The Dow Jones Industrial Average ended 0.5% higher, and the Nasdaq Composite gained 1.6%.

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

Data Source: Equitymaster

Back home, Indian share markets are trading on a negative note. At present, the BSE Sensex and NSE Nifty is trading 0.7% higher.

Adani Ports and Bajaj Finserv are among the top gainers today.

Eicher Motors on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.8% higher and the BSE Small Cap index is trading 0.7% higher.

Sectoral indices are trading on a positive note with stocks in the power sector and realty sector witnessing most buying.

Shares of Cera Sanitary and HAL hit their 52-week high today.

The rupee is trading at Rs 82.47 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 58,800 per 10 grams today.

Meanwhile, silver prices are trading 0.2% lower at Rs 73,859 per 1 kg.
 

Tata Communications 5G Roaming Lab Launch

Tata Communications, an enabler of digital ecosystems Yesterday, unveiled a cloud-based 5G Roaming Laboratory.

This facility empowers Mobile Network Operators (MNOs) to test 5G standalone network applications before rolling them out to their customers.

Through this initiative, Tata Communications is tapping into the possibilities of 5G to reshape the way MNOs enhance mobility experiences for their consumers and corporate clients.

Tata Communications cloud-based 5G Roaming Lab conducts tests on the global mobile roaming experience by observing the flow of traffic and network utilization.

This monitoring aims to deliver a user experience for individuals using mobile phones while roaming.

Its tests receive a performance assessment across various networks connected in the exchange process while a user is roaming.

This process also includes onboarding as well as internet trials on high-speed, high-reliable, and low-latency 5G networks.

Following the update, shares of Tata Communications Jumped 2%.

So far, in 2023, the stock is trading up by 38%. Take a look.

Tata Motors Cleared of Antitrust Charges

The Competition Commission of India (CCI) has cleared Tata Motors (TML) in two cases of anti-competitive practices in 2019 and 2020 in its commercial vehicles (CV) unit.

There was no sufficient material on record for the commission to infer that TML engaged in anti-competitive practices, leading to an adverse effect on competition.

In its order for the 2019 case and the 2020 case, the commission said that the evidence relied upon by the Director General (DG) in arriving at a finding of contravention of Section 3(4)(c) neither proves that TML prohibits passive sales nor has TML imposed any penalty on its authorized dealers for selling outside their allocated territory.

It added that although one of the authorized dealers, Puneet Automobiles, had submitted that TML had imposed a huge penalty on its dealers over territory restrictions, there is nothing on record to substantiate it.

In the 2019 case, a certain Neha Gupta had blamed TML, Tata Capital Financial Services, and Tata Motors Finance for contravention of provisions of Sections 3 and 4 of the Act. In the 2020 case, Nishant P Bhutada (proprietor of Kanchan Motors) made similar allegations.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

The shares of the company are making back-to-back record highs. 
 

Baring to Sell Coforge Stake

According to media reports, Hulst BV, promoter of Coforge (formerly NIIT Technologies), is looking to offload its entire 26.6% stake in the mid-sized IT firm via a block deal.

The floor price has been fixed at Rs 4,550 per share, which is a 7.4% discount on the current market price of Rs 4,901.95.

The Netherlands-registered Hulst BV is owned and controlled by funds affiliated with BPEA (Baring Private Equity Asia).

Hulst BV will sell 16.2 m shares, taking the deal size to around Rs 74 bn.

Earlier in May, Hulst BV divested a 3.5% stake in Coforge for Rs 8.9 bn through an open market transaction.

The private equity firm acquired a stake in the mid-tier IT company in 2019.

Coforge is among the 5 Indian companies where Mutual Fund Holdings are consistently increasing.

More By This Author: