Most Asian stocks crept lower on Thursday as investors appeared to have looked past positive earnings from artificial intelligence major Nvidia, while Hong Kong shares fell from a three-year peak.

The tech-heavy Nasdaq led Wall Street's main indexes higher on Wednesday as chip stocks rebounded ahead of Nvidia's results that are crucial to illuminating future demand for AI.

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

Source: Equitymaster

At present, the BSE Sensex is trading 49 points higher and NSE Nifty is trading 19 points higher.

Shriram Finance, JSW Steel, and Britannia are among the top gainers today.

Trent, Cipla, and Kotak Mahindra on the other hand are among the top losers today.

The BSE Midcap index is trading marginally lower and the BSE Smallcap index is trading 0.6% lower.

Sectoral indices are trading mixed today with stocks in the finance sector, banking sector, and metal sector witnessing buying. Meanwhile, stocks in the telecom sector, auto sector, and power sector witnessing selling pressure.

The rupee is trading at Rs 87.4 against the US dollar.
 

UltraTech Share Price in Focus

UltraTech Cement Ltd.'s shares are expected to draw attention on 27 February following the company's announcement to diversify into the wires and cables segment with an Rs 18 billion investment.

The Aditya Birla Group's flagship company revealed plans to set up a dedicated wires and cables plant in Bharuch, Gujarat, with the project spanning the next two years and aiming for a commissioning date by December 2026.

However, given that the cables and wires industry is projected to maintain a robust 13% CAGR, along with growing export opportunities, UltraTech's entry into this sector is likely to have only a modest impact, with significant benefits expected from FY28 onwards.
 

Tata Power Signs New MoU

Tata Power's share price is likely to stay in the spotlight on 27 February following the company's recent MoU with the Assam government to develop up to 5,000?MW of renewable and clean energy. Over the next five years, a Rs 300 bn investment will back a range of projects-including solar, wind, hydro, and energy storage.

Under the agreement, the Assam government will help by identifying and leasing around 20,000 acres of encumbrance-free government land, as well as assisting in the acquisition of additional private land suitable for these initiatives.

The state will also aid in developing the necessary infrastructure for seamless transmission connectivity and support the creation of Renewable Energy Parks through its agencies.

In a related move, Tata Power's subsidiary, Tata Power Renewable Energy, has signed another MoU with Assam Power Distribution Company Limited (APDCL) to further drive renewable energy adoption and boost energy efficiency across the state.

Adani Green Energy's New Project Win

Adani Green Energy Ltd announced on Tuesday, February 25, that its wholly owned subsidiary, Adani Saur Urja (LA) Ltd, has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Ltd (UPPCL) for securing 1,250 MW of energy storage capacity via pumped hydro storage projects.

The capacity was secured through an e-Reverse Auction conducted by UPPCL.

Under the awarded contract, a fixed annual cost of ?76.53 lakh per MW (excluding taxes) will be payable for a period of 40 years starting from the commercial operation date (COD).
 

Wipro to Invest in Wipro Ventures

Wipro Ventures, the investment arm of Wipro that targets early- to mid-stage enterprise software startups, has secured US$ 200 million from its parent company during its fourth funding round.

This fresh capital is aimed at bolstering investments in emerging sectors. To date, Wipro Ventures has backed 37 companies across financial services, healthcare, manufacturing, and hi-tech, and has also committed funds to 10 investment funds in the US, Israel, and India.

The new fund will support three to five investments annually, focusing on high-potential areas such as generative artificial intelligence (GenAI) and cybersecurity.

Previously, with its inaugural US$ 100 million fund, the firm invested in 15 startups, including notable names like Demisto-a security operations platform later acquired by Palo Alto Networks-and Moogsoft, an AI operations company that Dell subsequently acquired.

Typically investing between US$ 3 million and US$ 7 million per deal, Wipro Ventures not only fuels innovation among startups but also connects Wipro and its clients to a global network of disruptive technology enterprises.

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