Asian stocks rose following a rally on Wall Street after the Federal Reserve signalled it still sees room to cut interest rates later this year to support growth because any increase in inflation due to tariffs will be brief.

US stock market climbed on Wednesday as investors awaited a crucial policy announcement from the Federal Reserve.

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

Source: Equitymaster

At present, the BSE Sensex is trading 501 points higher and NSE Nifty is trading 141 points higher.

Shriram Finance, TCS, and SBI are among the top gainers today.

L&T, Asian Paints, and Bajaj Finance on the other hand are among the top losers today.

The BSE Midcap index is trading 0.8% higher and the BSE Smallcap index is trading 1.3% higher.

Barring the consumer durable sector, all other sectoral indices are trading higher today with stocks in the IT sector, realty sector, and auto sector witnessing buying.

The rupee is trading at Rs 86.3 against the US dollar.
 

Trent's Booker Acquires TSSL

Tata Group's retail arm, Trent Ltd, announced on 19 March that its subsidiary, Booker India Limited (BIL), has signed a share purchase agreement to acquire 100% equity in THPL Support Services Limited (TSSL) from Trent Hypermarket Private Limited (THPL).

The acquisition, valued at Rs 1.7 bn, is aimed at consolidating and streamlining related businesses within the group. TSSL, incorporated on 9 June 1992, operates in warehousing and related services and reported a turnover of Rs 423.5 m as of 31 March 2024.

This related-party transaction has been conducted on an arm's length basis, with no direct promoter group interest apart from their indirect shareholding. The deal is expected to be completed on or before 31 March 2025, strengthening Booker India's logistics and supply chain operations.

NHPC Approves Borrowing

NHPC shares will be in focus on Thursday after the company's board approved a plan to raise up to Rs 63 bn in debt for FY 2025-26. The funds will be mobilized through secured or unsecured corporate bonds, which will be redeemable and non-convertible, issued in one or more tranches via private placement, along with term loans or external commercial borrowings.

The borrowing plan aligns with NHPC's expansion strategy as it continues to strengthen its financial position and support upcoming projects.

Earlier in January, the state-owned company partnered with Andhra Pradesh Power Generation Corp. to establish a joint venture aimed at developing renewable energy projects across the country.
 

Adani's Kutch Copper JV

Adani Enterprises Ltd announced on Wednesday (March 19) that its wholly-owned subsidiary, Kutch Copper Limited (KCL), has incorporated a joint venture company, Praneetha Ecocables Limited (PEL), in collaboration with Praneetha Ventures Private Limited.

Under the agreement, Kutch Copper Limited will hold a 50% equity stake in PEL, which will focus on the manufacturing, marketing, and distribution of metal products, cables, and wires. The joint venture was officially incorporated on 19 March 2025, with an authorised and paid-up capital of Rs 1 million, divided into 1,00,000 equity shares of Rs 10 each.

The formation of Praneetha Ecocables aligns with Kutch Copper's long-term growth strategy, allowing it to expand its footprint in the metal and cable manufacturing sector.

With this partnership, KCL aims to enhance its capabilities in the value-added copper segment, catering to the growing demand for high-quality cables and wires in industrial and infrastructure applications.

Praneetha Ecocables Limited is officially registered with the Registrar of Companies, Ahmedabad.
 

Wipro Launches Agentic AI

Wipro Ltd, a leading IT services provider, announced the launch of its Agentic AI services on Wednesday (March 19), aimed at helping nations build and deploy artificial intelligence (AI) capabilities while ensuring data sovereignty. These services, powered by Wipro's WeGA Studio and NVIDIA AI Enterprise software, are designed to drive economic growth and digital transformation by leveraging local infrastructure, workforce, and business networks.

The initiative focuses on creating an AI-powered ecosystem that enhances citizen experiences across critical sectors, including banking, financial services, emergency response, healthcare, and education. By integrating AI-driven solutions tailored to regional needs, Wipro seeks to support public sector transformation and foster innovation in governance and service delivery.

A key feature of the program is the development of customised large language models for regional languages. The rollout begins with Thai and will gradually expand to Indian and South Asian languages, including Arabic.

These AI models are designed to improve accuracy and cultural relevance in AI-driven interactions, enabling governments and enterprises to offer more effective and localised services.

Additionally, Wipro's AI services include access to pre-built "responsible" AI accelerators, allowing clients to develop high-performance AI models aligned with their specific objectives.

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