Indian equity markets have continued to trade in green in the previous two hours of trade. The most noticeable upward movements have been witnessed in the realty and capital goods sectors while metals and auto have been facing the maximum selling pressures.
Engineering shares are trading in green with TRF Ltd and Welspun Corp leading the gains while Kalpataru Power and Punj Llyod are witnessing the maximum selling pressures. According to a leading financial news medium, Larsen & Toubro Ltd (L&T) has secured an order worth around Rs 57 bn from the Rajasthan Rajya Vidyut Utpadan Nigam for setting up a 2 x 660 MW Supercritical Thermal Power Project on a complete Engineering Procurement & Construction (EPC) basis. The order involves design, engineering, manufacture, supply, erection and commissioning of two coal-fired thermal units of 660 MW each with supercritical parameters at Chhabra in Baran district in Rajasthan. This is the country's first complete EPC order for 2x660MW supercritical units placed by a state utility on the private sector. The project has a stringent completion schedule of 42 months for Unit 1 and 45 months for Unit 2. The Rajasthan order comes as L&T enters the advanced execution phase of several large supercritical thermal power projects. These include complete projects being built on an EPC basis as well as boiler-turbine-generator units and Balance-of-Plant packages. With this contract, L&T now has orders for supply and installation of 26 Supercritical Steam Generators and Steam Turbine Generators of 660 MW, 700 MW and 800 MW. L&T's share is trading up by 2.27%.
All but two power shares, Gujarat Industries Power Company Ltd. and Power Grid Corporation are trading in red. According to a leading business daily, State-run Power Grid Corp is developing an advanced grid security system, worth Rs 13 bn, as a part of efforts to boost the country's electricity transmission network and stave off possible cyber attacks on the power systems. The proposed security system is a part of larger measures being initiated by the Power Ministry to prevent recurrence of events like last year's massive collapse of grids that affected more than half of country's total population. The project involves installation of optical fibre network costing about Rs 11 bn for reliable communication and control of under-frequency and load shedding, among others. Power Grid's businesses include planning, co-ordination and control over inter-state transmission systems as well as the operation of national and regional grids.