Asian shares edged lower on Monday as high Treasury yields challenged lofty Wall Street equity valuations while underpinning the US dollar near multi-month peaks.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2%.

Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week that was driven by expectations around a traditionally strong period for markets.

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

Source: Equitymaster

At present, the BSE Sensex is trading 172 points lower and NSE Nifty is trading 52 points lower.

ITC, Bharti Airtel, and Apollo Hospital are among the top gainers today.

BPCL, Trent, and ONGC hand are among the top losers today.

The BSE Midcap index trading 0.4% lower and the BSE Smallcap index is trading 0.5% lower.

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

The rupee is trading at Rs 85.47 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 76,705 per 10 grams today.
 

Hero MotoCorp Expands Partnership

Hero MotoCorp has extended its partnership with Harley-Davidson to broaden the Harley-Davidson X440 lineup with new variants and to develop an additional motorcycle model jointly. The deal involves design, development, and contract manufacturing, ensuring high standards from both companies, Hero MotoCorp said in an exchange filing on Friday.

This collaboration, which has been ongoing since 2020, will cater to domestic and selected international markets.

Harley-Davidson, founded in 1903, exited India in 2019, citing high import duties and low sales, but resumed operations through this strategic collaboration.

Hero MotoCorp now oversees manufacturing, sales, and service for Harley motorcycles in India, producing models like the X440 at its Neemrana facility.

This partnership not only boosted local production but also ensured access to Harley-Davidson's international expertise, which aids both companies in capturing the growing demand for premium bikes.
 

Tata Motors' New EVs Promise

Tata Motors, the leader in the passenger electric vehicle (EV) market and which makes roughly one of every two passenger EVs sold in the country, has identified range as its biggest plank to fight competition.

Its new passenger EVs will go at least 500 km on a single charge, Shailesh Chandra, managing director, of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said.

The company has taken early steps in this direction. It has launched a 45 kWh Nexon EV with a range of 489 km, much above its earlier 325 km.

The new Curvv has a 500-km range.

Vodafone Idea Shares in Focus

Vodafone Idea Ltd., the debt-ridden telecom services provider informed the exchanges over the weekend that the telecom department, through its communication on 27 December 2024, has dispensed with the requirement of submitting financial bank guarantees for the Spectrum acquired through spectrum auctions.

The DoT has done away with the financial bank guarantees for the Spectrum acquired through auctions held in 2012, 2014, 2015, 2016 and 2021. This, however, is subject to certain terms and conditions.

Prior to this announcement, Vodafone Idea was supposed to submit bank guarantees worth nearly Rs 248 bn against each spectrum instalment, 13 months prior to the instalment due for the above auctions.

However, there is a one-time shortfall only for the 2015 auction, where the company is in discussions to determine the final amount of this partial shortfall.
 

JSW Energy's Largest Acquisition

JSW Energy Ltd.'s acquisition of O2 Power Midco Holdings Pte. Ltd., O2 Energy SG Pte. Ltd. and their subsidiaries, will lead to further unlocking of value for its shareholders, according to the brokerage firm.

On Friday, JSW Energy's unit, JSW New Energy announced the acquisition of O2 Power and its units for Rs 124.7 bn, which is the company's largest acquisition since inception. The management highlighted that the acquisition will enhance JSW Energy's footprint across key resource-rich states.

The acquisition adds 4.7 GW of Renewable Energy capacity to JSW Energy, including 2.3 GW of operational capacity by June 2023, which also increases the locked-in capacity by 23% to nearly 25 GW.
 

Adani Green Announces New Subsidiary

AdGreen Energy Limited (AGEL) announced the incorporation of a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited; on Saturday.

According to AGEL's filing to the exchanges, Adani Green Energy Sixty Eight Limited (AGE68L) is incorporated in India. The Adani Green Energy Sixty Eight Limited will work in the renewable energy sector.

The main objective of AGE68L is to generate, develop, transform, distribute, transmit, sell, and supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy.

Adani Renewable Energy Holding Nine Limited, a wholly owned subsidiary of the company, holds 100% share capital of AGE68L.

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