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Firm close for Indian stock markets
Tue, 17 Jan Closing

Taking cues from their peers in Asia, the indices in Indian stock markets remained well above the dotted line and consistently made inroads into the positive territory today. Reports of China sustaining a healthy GDP growth in the last quarter of 2011 seems to have enthused investors. Commodity, auto and engineering stocks led the pack of gainers today. The BSE-Sensex closed the day higher by 277 points (1.7%) while the NSE-Nifty ended 93 points higher. The BSE Mid cap and BSE Small cap indices also recorded gains of 1.3% and 1.1% respectively.

Most Asian indices closed in the mixed today with Europe trading higher currently. The rupee was trading at Rs 50.80 to the dollar at the time of writing.

PSU power generation major National Thermal Power Corporation (NTPC) plans to pursue its growth strategy in the retail power distribution segment in an aggressive manner. The company entered power transmission and distribution segment in 2002. NTPC, through its subsidiary NTPC Electric Supply Company (NESCL) is looking at various business models, including forming joint ventures with the existing distribution companies as well as getting into franchise. The company is aiming at the possibility of retail distribution of electricity to bulk industrial consumers in the upcoming mega industrial areas and special economic zones. NESCL is also working on turnkey projects under the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).

NTPC had capacity of 34,854 MW at the end of September 2011 and is targeting capacity addition of 4,320 MW in FY12. While the company has coal linkages for 9 new projects with a total capacity of 10,920 MW and a gas supply agreement for 14.5 MMSCMD of gas, fuel supplies remain a hindrance to growth.

ING Vysya Bank reported results for the quarter ended 31st December 2011 today. The bank's net profit for the third quarter jumped 43.9% YoY while its total income increased by 35.4% YoY. This was on the back of 22% YoY growth in advances. Also despite the stiffness in interest costs, ING's net interest margins (NIMS) moved up to 3.5% from 3.2% in 1QFY12. Gross NPAs of the bank reduced to 2.01% in 3QFY12 from 2.7% in 3QFY11. Similarly, net NPA to advances improved to 0.3% from 0.6% in corresponding quarter of FY11.

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Feb 19, 2018 02:21 PM