Asian shares took a breather on Friday as a batch of softer US economic data took some of the steam out of Wall Street, but also boosted bonds in a big way while slugging oil prices in a boon for the inflation outlook.

The Nikkei is trading flat while the Hang Seng index tanked 1.8%. The Shanghai Composite is trading 0.4% higher.

US stocks managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts.

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

Data Source: Equitymaster

Back home, Indian share markets are trading on a positive note.

At present, the BSE Sensex is trading lower by 21 points. Meanwhile, the NSE Nifty is trading up by 18 points.

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

Axis Bank and SBI on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index and the BSE Small Cap index are trading 0.4% higher.

Sectoral indices are trading mixed with stocks in the auto sector and capital goods sector witness buying. Meanwhile, stocks in the banking and finance sector is witnessing selling pressure.

Shares of Tata Motors and Trent India hit their 52-week high today.

The rupee is trading at Rs 83.3 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 60,810 per 10 grams today.

Meanwhile, silver prices are trading marginally higher at Rs 73,420 per 1 kg.
 

TVS Motor Enters European Market

To mark its entry into the European market, TVS Motors signed an agreement with Emil Frey for the import and distribution of two-wheelers.

The Zurich-based Emil Frey is one of the largest automobile importers and retailers in Europe, with strong ties with leading automotive brands across the region. Under the agreement, Emil Frey will be responsible for the distribution of TVS products in selected countries.

The partnership will help TVS in expanding its reach in Europe by leveraging an extensive distribution network and deep market insights in Europe.

France will be the first country for the launch of TVS two-wheelers under the agreement. In France, TVS Motor will launch its range of products, including ICE and EV models, starting in January 2024.

TVS products like Jupiter 125, NTORO, Raider, iQube S, Ronin, Apache RR 310, and Apache RTR 310 will be made available for sale in European markets. At present, TVS Motors is already selling its two-wheelers in 80-plus countries in Asia, Africa, and Latin America.

Exports comprise nearly 25% of the company's business as of the first half of the current fiscal.

For TVS Motor Company, there's enough momentum building up and the company continues to give more reasons why the momentum going forward could be stronger than ever. 

TVS Motor, a leading Indian two-wheeler maker, is gearing up for a major push into the electric vehicle (EV) space.
 

SJVN's Wind Power Project

SJVN, a government-owned hydroelectric power generation and transmission company signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 200-MW grid-connected wind power project, at an estimated cost of Rs 14 bn.

The project is expected to generate 482 million units in the first year following commissioning, including a total projected energy generation of 12,050 million units during 25 years.

The project will be completed by November 2025, that is, within 24 months of the effective date of the PPA signing.

SJVN Green Energy Limited (SGEL), the company's wholly-owned subsidiary, had participated in SECI's tariff-based competitive bidding procedure for the selection of wind power developers for setting up 1,200 MW grid-connected wind power projects anywhere in India.

In the Open Competitive Tariff bidding procedure, SGEL won 200 MW at a tariff of Rs 3.24 per unit on a Build Own and Operate (BOO) basis.

SGEL will create the 200-MW wind project in India under an EPC contract. With the addition of this project, the company's wind portfolio now totals 497.6 MW.

SGEL also signed a Memorandum of Understanding (MoU) with M/s Ocean Sun, Norway, in October for collaboration in the field of new technologies in the Green and Clean Energy Sector.

Note that shares of SJVN have seen a remarkable run in 2023 so far.

The company's green energy push and its heavy order book offer long-term revenue and profit visibility.

With a sharp vision to diversify into renewable energy, SJVN is stitching a grand solar roadmap.
 

JSW Infra Bags Project

JSW Infrastructure, on 16 November, received a letter of award (LOA) for the development of Keni greenfield port in Karnataka. The estimated cost of the project is Rs 41.2 bn, with an initial capacity of 30 million tonnes per annum (MTPA).

The proposed Keni port would have modern environment-friendly mechanized facilities for handling cape-size vessels, and it will be built to serve the industries in the area covering Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra.

Earlier this year, media reported that JSW Infrastructure emerged as the lone bidder to develop the port. This came after the Karnataka government, in 2022, sought bids to develop ports at Keni and Pavinakurve in a bid to bolster its port infrastructure and strengthen the economy.

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