Asian share markets tracked Wall Street lower today, as a number of Federal Reserve speakers echoed Chair Jerome Powell in saying that interest rates are set to go higher, capping risk sentiment.

The Nikkei is trading lower by 0.3% while the Hang Seng is trading higher by 0.3%. The Shanghai Composite is trading up by 0.6%.

US stocks ended down on Wednesday, paring most of the previous session's strong gains, with tech-focused shares leading the way lower.

The Dow Jones ended 0.6% lower while the tech-heavy Nasdaq Composite ended lower by 1.7%.

Here's a table showing how US stocks performed yesterday:

Source: Equitymaster

Back home, Indian share markets are trading on a flat note tracking the trend on SGX Nifty.

At present, the BSE Sensex is trading higher by 32 points. Meanwhile, the NSE Nifty is trading lower by 8 points.

Bajaj Twins and Asian Paints are among the top gainers today.

Tata Motors and Bharti Airtel are among the top losers today.

Both the BSE Mid Cap index and the BSE Small Cap index are trading flat.

Sectoral indices are trading on a mixed note. Stocks in the industrials sector, and capital goods sector witness buying.

Meanwhile stocks in the telecom sector, and power sector witness selling.

Shares of Siemens and Cummins India hit their 52-week high today.

The rupee is trading at Rs 82.62 against the US dollar.

In the commodity markets, gold prices trade higher by Rs 17 at Rs 57,232 per 10 grams.

Meanwhile, silver prices are trading flat at Rs 67,595 per 1 kg.
 

Adani Wilmar Q3 results

Adani Wilmar on Wednesday reported a 16.5% rise in its Q3 consolidated net profit at Rs 2.4 billion (bn) (about Rs 246 crore) as compared to Rs 2.1 bn in the year-ago quarter.

The company's revenue from operations rose 7% to Rs 154.4 bn from Rs 143.7 bn in the same quarter last year.

The food & FMCG segment contributed 15% by volume to the overall sales and delivered 27% volume growth in the quarter under review.

The company has clocked a strong volume growth of 16% YoY volume growth in the third quarter, on the back of the large opportunity available in the packaged food industry, well supported by premium and popular brands, pan-India distribution, and manufacturing facilities.

When we talk about Adani group stocks it is impossible to not mention its flagship company Adani Enterprises.

After all, in the whole Adani saga, Adani Enterprises shares have suffered the most. However, winds have changed for the Adani group as most of the Adani group shares rallied yesterday.

In the past four trading sessions, Adani Enterprises is up 29%. In 2023 so far, Adani Enterprises is down 47%.

Today again, Adani group stocks have started on a weak note with most of the stocks trading on a negative note.
 

Bharti Airtel enters new partnership

Bharti Airtel on Wednesday said it has entered a strategic partnership with Vultr, the world's largest privately-held cloud computing company, to deliver cloud solutions to enterprises in India.

Airtel will offer Vultr's extensive suite of cloud solutions to its enterprise customers, especially those in the digital space.

The services will also include cloud computing and optimized cloud computing, as well as ground-breaking cloud GPU and fractionalized GPU offerings for advanced workloads tied to artificial intelligence (AI), machine learning, HPC, analytics, visual computing, and gaming use cases.

The cloud solutions will be hosted in Airtel's data centers across Bangalore, Mumbai, and Delhi-NCR, enabling businesses to scale their digital operations globally.

Businesses of all sizes and across industries can now leverage the latest cloud technologies to accelerate digital innovation, optimize global cloud performance, and maximize return on global cloud spend.

The partnership would offer simple and transparent pricing to avoid billing shocks but did not reveal what that would be.

This might be a relief for investors because Bharti Airtel's share price was falling.
 

Torrent Power enters into a binding agreement

Torrent Power announced on 08 February 2023 has signed a binding term sheet in relation to the acquisition of a 100% stake in Airpower Windfarms. It acquired the company for Rs 217.4 m.

Upon acquisition, the Company will have the right to appoint Directors to the board of sellers.

Torrent Power is an Indian energy and power company, having interests in power generation, transmission, distribution, and manufacturing and supply of power cables.
 

Oberoi Realty Q3 results

Oberoi Realty announced its quarterly results yesterday.

The company reported a net profit of Rs 7 bn for the December quarter, compared with Rs 4 bn in the corresponding quarter of the last financial. Meanwhile, revenue from operations came in at Rs 16.3 bn.

The growth in financials was supported by increasing demand. The residential market continues to grow due to the increase in demand for larger homes due to incremental income and financial stability.

With new project launches planned for the fourth quarter, the company expects to end the year on a strong note as the management continues to look out for future growth opportunities.

The company has recently acquired 8.5 acres of land in Thane's Pokhran Road locality from Blue Star This land parcel is estimated to provide the company with an additional saleable area of around 2.25 m square feet in its existing Pokhran project.

The company has concluded the acquisition of residential premises in its project Three Sixty West in Mumbai's Worli locality.

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