Asian equities rose, following a rebound in technology stocks that pushed Wall Street to a record high. Oil fell after President Donald Trump urged OPEC to lower crude prices and said he will push for interest-rate cuts.

US stocks woke from a sluggish start to close higher Thursday, with the broad S&P 500 index again notching a record high after President Donald Trump called for lower interest rates and cheaper oil.

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

Source: Equitymaster

At present, the BSE Sensex is trading 64 points higher and NSE Nifty is trading 17 points lower.

NTPC, Tata Steel, and Axis Bank are among the top gainers today.

Apollo Hospital, Tata Motors, and Cipla hand are among the top losers today.

The BSE Midcap index is trading 0.2% lower and the BSE Smallcap index are trading 0.4% lower.

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

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

NHPC Incorporates JV

NHPC and Andhra Pradesh Power Generation Corporation (APGENCO) have jointly incorporated a new company, APGENCO NHPC Green Energy, as a 50:50 joint venture.

The primary goal of this venture is to develop and promote an integrated and efficient approach to pumped storage hydropower projects and renewable energy projects, including solar, floating solar, and wind power. This encompasses the entire project lifecycle, from planning and design to construction, operation, and the sale of power generated.

The joint venture initially plans to implement five major projects: Yaganti PSP (1000 MW), Rajupalem PSP (800 MW), Gadikota PSP (1200 MW), Aravetipalli PSP (1320 MW), and Deenepalli PSP (750 MW). Additional projects will be identified and taken up as agreed upon in the future.

The company will oversee all activities related to the construction, operation, and maintenance of these projects.

NHPC is the largest organization for hydropower development in India.

The stock has seen a good amount of correction in its price since July 2024.

Here's how the stock price has performed in the past 1 year.

Infosys to Expand Pacharam Campus

Infosys Ltd, India's second-largest IT services company, is set to expand its IT campus in Pocharam, a satellite town of Hyderabad, in collaboration with the Telangana government. This expansion is expected to generate an additional 17,000 jobs, further strengthening Telangana's position as a prominent technology hub.

The announcement was made at the World Economic Forum in Davos during a meeting between Infosys CFO Jayesh Sanghrajka and Telangana's IT and Industries Minister, D Sridhar Babu.

With over 35,000 employees already based at the Pocharam campus, Infosys plans to complete the first phase of expansion within 2-3 years. This phase will involve the construction of new IT buildings, with an investment of Rs 7.5 bn, creating space for 10,000 more employees.

Jayesh Sanghrajka highlighted the shared vision behind the collaboration, stating that the partnership with the Government of Telangana reflects a mutual goal of driving innovation, empowering communities, and strengthening the IT ecosystem.
 

Kotak Bank Acquires StanChart

Kotak Mahindra Bank (KMB) has successfully completed the acquisition of a personal loan portfolio worth Rs 33.3 bn from Standard Chartered Bank, a figure slightly lower than the initially projected Rs 41 bn announced in October 2024. This reduction is due to a number of customers paying off their loans during the interim period.

The portfolio includes unsecured retail loans, such as retail microcredit, which accounted for 10.5% of KMB's net advances by December 2024.

Ambuj Chandna, Head of Products, Consumer Bank at Kotak Mahindra Bank, mentioned that the bank maintained a controlled exposure to this segment and will continue to invest in growing the personal loan book in a systematic and prudent manner.

He also emphasized that the acquisition provides access to a target customer base, mainly consisting of middle and high-end salaried individuals.

Regarding the difference in the loan pool's value, Chandna explained that the original size was based on the value of EMI loans at the time of the announcement. Since the transaction took time to conclude, the pay-offs that occur each month led to a reduction in the final amount.

The deal was finalized on 23 January 2025, after receiving the necessary regulatory approvals and fulfilling the relevant conditions, according to a filing with the BSE.
 

United Spirits Q3 Results

Diageo-controlled liquor maker United Spirits on Thursday (23 January) reported a 4.3% year-on-year (YoY) fall in net profit at Rs 3.4 bn for the third quarter that ended on 31 December 2024.

In the corresponding quarter of the previous fiscal, United Spirits posted a net profit of Rs 3.5 bn.

The company's consolidated revenue from operations in the quarter under review was Rs 77.3 bn against Rs 69.6 bn in the year-ago period.

The company's consolidated net sales increased 14.4% to Rs 34.3 bn against Rs 30 bn in the year-ago period.

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