Asian stocks are trading on a mixed note today after the US Federal Reserve said it would end bond-buying stimulus in March to set up three interest rate increases next year to tackle heated inflation.

The Hang Seng is trading down by 0.8%, while the Shanghai Composite is trading up by 0.3%. The Nikkei is trading up by 1.8%.

In US stock markets, Wall Street indices ended sharply higher on Wednesday after the Federal Reserve said it would end its pandemic-era bond purchases in March as it exits from policies enacted at the start of the health crisis.

The Dow Jones Industrial Averages rose 1.1%, while the Nasdaq Composite climbed 2.2%.

Back home, Indian share markets opened on a firm note, following the trend on SGX Nifty.

Benchmark indices opened on a strong note today amid buying seen in all the major sectors.

The BSE Sensex is trading up by 114 points. Meanwhile, the NSE Nifty is trading higher by 32 points.

Infosys and Bajaj Finance are among the top gainers today. Maruti Suzuki, on the other hand, is among the top losers today.

Both, the BSE MidCap index and the BSE SmallCap index are trading on a flat note.

Sectoral indices are trading positive with stocks in the IT sector and oil & gas sector witnessing buying interest.

Auto and FMCG stocks, on the other hand, are trading in red.

Shares of Tech Mahindra and Adani Total Gas hit their respective 52-week highs today.

The rupee is trading at 76.23 against the US$.

Gold prices are trading up by 0.6% at Rs 48,350 per 10 grams.

In news from the electric vehicle (EV) space, as per an article in The Economic Times, TVS Motor Company and the BMW Group are likely to announce an alliance for joint development, manufacturing, and exports of EVs from India.

This comes as both companies penetrate deeper into the fast-growing electric vehicle space.

Under the arrangements deliberated by TVS and BMW - the two partners intend to co-develop an EV platform for manufacturing a range of EV two-wheelers for both partners ranging from scooters to motorcycles and even new concepts.

People close to the developments said that the alliance discussions are likely modeled around the Bajaj-Triumph partnership, which has joint development and manufacturing collaboration but is unlikely to include equity.

If this is true, this will extend the current contract manufacturing partnership that TVS has with BMW to develop and manufacture sub 500 cc bikes for domestic and global markets. TVS produces G310R and BMW 310GS produced only at the company's plant in Hosur.

The initial volume plan is in the range of 50,000 EVs catering to both brands.

Note that TVS Motor Company is betting big on EVs. It has committed Rs 10 bn for the EV business and has already set up a subsidiary to cater to this new emerging segment.

Earlier this week, the company infused fresh funds into a startup, Ultraviolette. It has also acquired a Swiss-based electric two-wheeler company Ego Movement.

TVS Motor Company shares are currently trading down by 4.3%.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

Moving on to news from the power sector, NTPC on Wednesday said it has awarded a standalone fuel-cell based green hydrogen microgrid project at Simhadri, in Andhra Pradesh.

This will be India's first green hydrogen-based energy storage project and one of the largest in the world.

The ministry said that it would be a precursor to large-scale hydrogen energy storage projects and would be useful for studying and deploying multiple microgrids in various off-grid and strategic locations of the country.

The hydrogen would be produced using the advanced 240 kW Solid Oxide Electrolyser by taking input power from the nearby Floating Solar project.

This unique project configuration is designed in-house by NTPC.

Note that this project is in-line with the vision of Prime Minister Narendra Modi for becoming carbon neutral by 2070 and making Ladakh a carbon-neutral territory.

NTPC's present installed capacity is 67,907.5 MW (including 13,425 MW through JVs/Subsidiaries) comprising 47 NTPC stations and 26 joint venture stations.

NTPC share price is currently trading up by 0.4%.