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Indian Markets trade flat
Thu, 19 Feb 01:30 pm

Indian Indices are trading flat in the post noon session. Sectoral indices are trading on a mixed note today with IT and consumer durable stocks leading the gainers. FMCG, power and banking stocks witnessed maximum selling pressure.

BSE-Sensex is down 40 points and NSE-Nifty is trading 25 points down. BSE Small Cap and BSE Small Cap index are also trading down marginally. The rupee is trading at 62.24 to the US dollar.

Barring KSK Energy, Adani Power and CESC Ltd, majority of the <>power stocks are trading in the red. According to a leading financial daily, country's largest power producer NTPC will invest close to US$ 10 bn for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation. The company in a statement said that it will add 10,000 MW to its existing capacity of 43,143 MW through solar projects in the next five years. Currently, the company has 110 MW of renewable power projects which generated 100 million units of electricity during the current fiscal, so far. Recently, NTPC signed a term loan agreement of Rs 100 bn and Rs 20 bn with state-run <> SBI and <> Bank of Baroda, respectively, for partially funding its capital expenditure

Cement stocks are trading on a negative note. Birla Corp. and India Cements are the leading losers. According to a leading financial daily, Holcim-Lafarge is planning to merge ACC, Ambuja and Lafarge India. Reportedly, the company plans to merge ACC, Ambuja and Lafarge India units into one listed entity to create the largest cement company in India. Combined capacity of the 3 subsidiaries will be 70 m tonnes of cement. Seemingly, the plan is still at a nascent stage. ACC and Ambuja Cement were trading down by 1.5% and 2% respectively on the BSE.

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