X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Power, realty lead pack of gainers 
(Fri, 28 Mar Closing) 
 
The Indian stock markets ended the day on a firm note as buying activity picked up post noon. The BSE-Sensex ended higher by about 125 points or 0.6%, while the NSE-Nifty ended higher by about 55 points or 0.8%. Gains were seen in stocks across the board, with those from the power and realty spaces leading the pack. The BSE Mid Cap and BSE Small Cap indices ended higher by about 1.5% and 1.2% respectively.

Stock markets in other parts of Asia ended the day on a firm note with Japan and Hong Kong closing higher by about 0.5% and 1.1% respectively. The rupee was trading at Rs 60.1 to the dollar at the time of writing.

Power stocks ended the day on a firm note led by Adani Power, NHPC and PTC India. According to a leading financial daily, power major Tata Power has sought compensation from the Indian arm of Chinese power producer CLP Holdings with respect to incorrect announcement of commissioning of its 1,320 MW power project. The former had to unnecessarily pay Rs 330 m as transmission charges. As cited by the management, the regulatory dispute is on account of technical reasons. CLP India continues to provide 100 MW to Delhi. But Tata Power Delhi had no option but to seek regulatory say in order to avoid burdening its consumers. Tata Power has been incurring commissioning charges for the said project since the plant's commercial operation in 2012. While the matter is still pending with the Central Electricity Regulatory Commission (CERC), the resolution of the same would bring respite to Tata Power. Besides, delay in approval of tariffs and lower volumes have already been the concerns areas for the company.

Stocks of hotel companies ended the day on a firm note led by Oriental Hotels, EIH Limited and Hotel Leelaventure. As per a leading business daily, Indian Hotels Company Limited (IHCL) is looking at raising Rs 10 bn through a rights issue. These funds will be used by the company to fund its expansion plans. This discussion was taken today, but still requires shareholder and regulatory approval. As such, the details of the rights issue - including the rights entitlement ratio, the issue price, record date, timing and other related matters - will be decided later. During the quarter ended September 2013, the company's consolidated debt had gone up from Rs 38 bn (in March 2013) to Rs 45 bn (September 2013), due to rupee depreciation. This led to a 17% QoQ increase in interest expense in 2QFY14.The stock of Indian hotels ended with gains of about 0.4% today.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Power, realty lead pack of gainers". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS