Despite the closures elsewhere, several Asian markets remained open and edged modestly higher.

At Wednesday's market open, US stocks saw slight declines. The Dow Jones dropped 0.09% to 48,399.74, the S&P 500 fell 0.01% to 6,909.09, and the Nasdaq slipped 0.06% to 23,542.31.

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

Source: Equitymaster

At present, the BSE Sensex is trading 139 points lower, and the NSE Nifty is trading 33 points lower.

Bharat Elec, NTPC, and Titan Company are among the top gainers today.

Eternal, Kotak Mahindra, and Tata Steel, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.2% higher, and the BSE Smallcap index is trading 0.1% lower.

Sectoral indices are trading mixed today, with stocks in power and metal witnessing buying. Meanwhile, stocks in the banking sector and the financial service sector witnessed selling pressure.

The rupee is trading at Rs 89.7 against the US dollar.
 

Ola Electric Mobility Gets PLI Incentive Approval

Ola Electric Mobility announced that it has received government approval to get Rs 3.6 billion (bn) as an incentive under the Production Linked Incentive (PLI) scheme for automobiles. This incentive is for the financial year 2024-25.

The approval was given by the Ministry of Heavy Industries, Government of India. The money will be released through IFCI Limited, which is responsible for distributing funds under the scheme.

The incentive is based on Ola Electric's sales performance during FY 2024-25 and follows all the rules of the PLI-Auto scheme.

This approval highlights Ola Electric's strong manufacturing execution and its contribution to India's electric vehicle and advanced automotive manufacturing ecosystem. The PLI-Auto scheme is a government initiative designed to boost local manufacturing, promote advanced automotive technologies, and improve India's global competitiveness in the auto sector.
 

Vikran Engineering Secures NTPC Solar Order

Vikran Engineering Limited announced that it has received a new contract worth Rs 4.59 bn from NTPC Renewable Energy Limited for a 400 MW grid-connected solar power project in Chitrakoot, Uttar Pradesh.

The contract includes engineering, procurement, and construction (EPC) work on a balance-of-system basis. This covers transportation, insurance, installation, testing, commissioning, and performance guarantee tests. The project is expected to be completed within 12 months, and the contract value excludes GST.

This order adds to Vikran Engineering's growing presence in large-scale solar projects. Earlier this week, the company also won a Rs 20.35 bn EPC order for a 600 MW solar project, highlighting strong momentum in its renewable energy business and increasing work with public-sector clients.
 

Lenskart Singapore Arm Acquires iiNeer Stake

Lenskart Solutions Pte. Ltd., Singapore, a wholly owned subsidiary of Lenskart Solutions Ltd, has approved an investment of KRW 3 billion (about Rs 186 million) to buy a 29.24% stake in South Korea-based startup iiNeer Corp. Ltd.

iiNeer, founded in 2020, develops technology-driven eye-testing and lens-cutting machines. Lenskart said this investment will help it build its own optical equipment capabilities, improve efficiency, and lower equipment-related costs over time.

Through this investment, Lenskart aims to develop in-house optical hardware such as lens edging systems, including edgers, tracers, and blockers. iiNeer reported revenue of KRW 177.7 million in calendar year 2024.

The acquisition of 123,945 preference shares in iiNeer is expected to be completed by 31 January 2026.

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