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Shares of Netweb Technologies India rallied as much as 14% to touch an intraday high of Rs 3,535 on the NSE on Wednesday, after the company unveiled what it calls one of its most advanced AI infrastructure offerings — the ‘Make in India’ Tyrone Camarero GB200 AI Supercomputer, along with a petascale personal AI system, the Tyrone Camarero Spark.The Spark is positioned as one of the world’s smallest AI supercomputers, bringing NVIDIA’s full AI stack into a compact, desktop-sized system. It combines NVIDIA’s Blackwell GPUs, Grace CPUs, networking, CUDA-X libraries, and the broader AI software stack, and is aimed at developers working on agentic and physical AI applications.The system delivers 1 petaflop of AI performance with 128GB of unified memory in a small form factor. It is designed to help developers in India run inference on AI models with up to 200 billion parameters and fine-tune models of up to 70 billion parameters locally.It also enables users to build AI agents and operate advanced AI software entirely on-premises, without relying on external cloud infrastructure.In addition to the Spark, Netweb Technologies India Ltd has introduced Tyrone AI supercomputing systems built on NVIDIA’s Grace Blackwell platforms and manufactured in India. These systems are based on the NVIDIA GB200 NVL4 architecture, which integrates four NVIDIA Blackwell GPUs connected via NVLink and two NVIDIA Grace CPUs linked through NVLink-C2C.The new systems are compatible with liquid-cooled NVIDIA MGX modular servers and are designed for high-performance workloads, including scientific computing, AI model training and inference. According to the company, they can deliver up to twice the performance of the previous generation in certain workloads.The Tyrone Camarero GB200 AI system also incorporates technologies aimed at supporting large-scale AI training and real-time inference for large language models of up to 10 trillion parameters. These include the NVIDIA GB200 NVL4 chip, a second-generation Transformer Engine, fifth-generation NVLink, a RAS Engine, confidential computing features for secure AI processing, and a Decompression Engine.Netweb will showcase the Tyrone AI product range in New Delhi from February 16 to 20, 2026. The lineup will include the MGX-based GB200 liquid-cooled system and the Tyrone Camarero Spark, spanning applications from edge and personal AI computing to advanced data centre workloads, underscoring its India-based manufacturing push.Sensex, Nifty today: Catch all the LIVE stock market action here(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Amid sharp market swings and a 3% decline in the Nifty50 in January 2026, QAW — the diversified, low-volatility strategy from Qode Advisors PMS — delivered a positive return of nearly 7%.In this edition of ETMarkets PMS Talk, Rishabh Nahar, Partner and Fund Manager at Qode Advisors, explains how a higher allocation to gold and a dynamically managed derivative hedge helped cushion downside risk and generate alpha.He also shares insights into the strategy’s asset allocation framework, risk-adjusted return focus, and why an “all weather” approach may be particularly relevant in today’s uncertain macro environment. Edited Excerpts –Q) QAW delivered nearly 7% return in January 2026 versus a 3% decline in the Nifty50. What led to the outperformance?A) The outperformance in January was primarily driven by two factors: our higher allocation to gold and the effective deployment of dynamic derivative hedges.Gold acted as a strong diversifier during the equity drawdown, while our hedging framework protected the equity portion of the portfolio during market weakness.The combination of asset diversification and tactical hedging enabled QAW to deliver positive returns despite a challenging equity environment.Q) QAW positions itself as a diversified, low-volatility strategy with a derivative hedge. How is the hedge structured and how dynamic is it across cycles?A) The derivative hedge is designed to protect the equity component of the portfolio during medium- to long-term downtrends. It is not static - it adjusts dynamically based on market direction and trend signals.When markets exhibit sustained weakness, hedges are activated to reduce downside risk. Conversely, during strong uptrends, hedges are scaled down or removed to avoid unnecessary cost drag.This dynamic structure allows us to balance protection and participation efficiently across market cycles.Q) How do you determine asset allocation between equity, gold, and cash?A) The asset allocation framework is the result of rigorous testing and correlation analysis across asset classes. Gold and equities historically exhibit complementary behavior, especially during periods of stress.Within equities, we blend momentum and low-volatility strategies, which themselves tend to complement each other across market regimes.While the core allocation is strategic and not frequently altered, we conduct regular portfolio reviews and may make measured adjustments based on prevailing market conditions and macro positioning.Q) Since inception in November 2024, what has been the biggest contributor to alpha - asset allocation, stock selection, or derivatives?A) The largest contributor to alpha so far has been asset allocation - particularly our higher allocation to gold - along with the timely and effective execution of our derivative hedges.The interplay between diversified asset allocation and well-calibrated hedging has been instrumental in generating excess returns.Q) The Sharpe ratio stands at 1.59 versus 0.03 for the benchmark. How sustainable is this risk-adjusted outperformance?A) The portfolio is specifically designed to optimize risk-adjusted returns rather than maximize raw returns. A higher Sharpe ratio is a structural objective of the strategy.By combining uncorrelated assets and disciplined hedging, we aim to deliver stable and consistent performance across market cycles. While short-term metrics can fluctuate, the design philosophy of the portfolio supports sustainable risk-adjusted outperformance over the long term.Q) With standard deviation slightly higher than the Nifty (13.42% vs 12.95%), how do you define “low volatility” in this context?A) While our standard deviation has been comparable to the Nifty over the past year and since inception, an also meaningful measure is drawdown.QAW has experienced significantly lower maximum drawdowns compared to the Nifty 50 during the same period. Over longer time frames, we expect volatility to moderate further.The strategy’s objective is not only to minimize short-term fluctuations, but also to reduce downside severity and improve return consistency over time.Q) How actively do you rebalance between equity and gold based on macro signals?A) The portfolio undergoes a structured rebalance annually to maintain strategic alignment. However, we continuously monitor macroeconomic signals and market conditions.If warranted, we may make measured tactical adjustments during the year, though changes are incremental rather than aggressive. The framework prioritizes stability while remaining responsive to evolving macro trends.Q) In the current macro environment, what risks justify an “all weather” approach?A) The current environment is characterized by geopolitical uncertainty, inflationary pressures, shifting interest rate cycles, and periodic equity volatility.An “All Weather” approach is designed to navigate such uncertainties without requiring precise market timing.While the strategy may not capture the full upside during strong equity bull runs due to diversification into gold and hedges, it aims to deliver smoother and more consistent returns across cycles - which is particularly valuable in uncertain macro conditions.Q) Who is the ideal investor for QAW?A) QAW is suitable for investors seeking stability, consistency, and lower drawdowns in their portfolios.It can serve equity-heavy HNIs looking to smooth overall portfolio volatility, as well as conservative investors who want equity participation with downside protection.In fact, most diversified portfolios can benefit from some allocation to strategies like QAW, given its focus on uncorrelated return streams and disciplined risk management.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

ET Intelligence Group: Asian Paints has lost 10% on bourses since January 27 after a lacklustre December-quarter performance rekindled worries over softening demand. The rebound in sentiment seen after the September-quarter, driven by hopes of GST-led price relief and festive-season traction has faded with an extended monsoon, a shorter festive period and intensifying competition weighing on the near-term outlook. Though the paint major expects competitive pressure to remain intense in the short term, it has retained the FY26 guidance of 8-10% volume growth and 18-20% operating margin before depreciation and amortisation (Ebitda margin), supported by formulation and sourcing efficiencies. It also expects to gain market share over the next 12-18 months driven by waterproofing and home decor segments. Decorative volumes grew at a slower pace of 8% in the December-quarter compared with 11% growth in the previous quarter, indicating lack of traction in the repainting activity. The international business revenue increased 6.3% due to steady performance in key markets. With loss-making Indonesia business now out of the portfolio and lower raw material costs, the company expects steady but measured progress from offshore units.128486542 A shift by consumers in discretionary spending towards travel and hospitality has resulted in lesser frequency of repainting. However, the rise in luxury and premium housing continues to show better growth at the higher end of the market, boosting demand for waterproofing solutions and construction chemicals. Despite soft demand, Ebitda margin expanded by 90 basis points year-on-year to 20.1%, led by lower raw-material costs. Amid a cautious demand outlook, the company expects 5% value growth for FY26, which lags its near double-digit volume growth estimates. That suggests a subdued pricing growth. The home decor segment showed early signs of stabilisation with narrowing losses in the kitchen fittings segment and the bath segment inching towards breakeven. The decorative retail division remained under pressure, but commercial (B2B) and projects businesses continued to outpace the rest of the portfolio, driven by orders from factories and government clients. Since growth has not picked up as expected, the brokerages have trimmed earnings estimates for the company by 1-3% for FY26-28 and cut target price by upto 10%. While margins remain strong, the slower-than-anticipated growth in the core decorative business has lowered expectations for the rest of the financial year. Asian Paints continues to rely on cost savings, new product launches and steady performance in some non-paint categories to support profitability as demand recovery remains gradual.

Mumbai: As the outlook for Indian IT stocks turns hazy amid concerns that AI could disrupt the sector's business model, brokerages, including Nomura and UBS, assess what lies ahead for the sector. Nomura Uncertainty overdone: The brokerage said the disruption concerns oversimplify the role of IT services companies. "It is easier said than done that a SaaS product and IT vendors can be replaced by vibecoded apps, given that the enterprise IT buyers optimise for reducing risks of failures and not costs and innovations necessarily," said Nomura's analysts. "Tech adoption for newer and unproven technologies remains slow given concerns about compliance, regulatory, business and continuity risks." What should investors do: "The current sell-off in IT services stocks appears to be a case of front-loading of pains - pricing in extinction of old business models before gains from new business models emerge," said Nomura's analysts. "Transition period is painful, but high free cash flow and dividend yields (4-5%) will likely create a floor for stocks sooner than later." The brokerage said valuations are now trading below the last 12-year averages and at a 12-39% discount to last 5-year averages. Its top picks are Infosys, Coforge and eClerx. UBS Terminal Value: The IT stocks sell-off has brought terminal value - the long-term cash-flow assumptions that drive a large part of valuations - into focus as investors are concerned over long-term earnings prospects and growth trajectory of these companies. "Overall, while we believe there has been some near-term overreaction in our view, the questions around terminal growth cannot be ignored," said UBS's analysts. "Companies that accelerate the shift towards non-linearity, invest in IP/platforms, and help clients bridge the AI adoption gap will be the ones to defend terminal value." Adaptability remains key: The brokerage said it will keep a close eye on how quickly and effectively the IT services companies adapt to pricing model changes, headcount and acquisitions in response to the structural changes. "The prevailing tone in the market seems to presume a rapid, broad-based automation of enterprise workflows by agentic AI, rendering the traditional IT services model structurally weak," said UBS's analysts. "In our view, this isn't an unfair assumption, but what we believe is that we will see a model transition from linear staffing to solutions and platforms, to outcomes and to problem solving."