Asian stock markets have opened on a mixed note with markets in Hong Kong (up 0.3%) and Japan (up 0.2%) leading the gains while markets in South Korea trading in the red (down 0.5%). The Indian stock markets have opened on a positive note ahead of inflation data. Barring FMCG, all sectors have opened in the green with metal and Auto leading the gainers.
The BSE-Sensex is up by around 57 points (0.35%), and the NSE-Nifty is up by around 17 points (0.26%). BSE Mid cap and BSE Small cap indices are trading in the green and are up by 0.2% each. The rupee is trading at Rs 53.60 to the US dollar.
Stocks in the Power Sector have opened mainly in the green with Torrent Power Ltd and Reliance Infra witnessing maximum gains. As per a leading financial daily, National Thermal Power Corporation Ltd's (NTPC) board has approved the merger of wholly-owned subsidiary NTPC Hydro with itself. The merger aims to synergise operations, enhance efficiency and administrative control and optimise utilisation of resources. While the board has given its nod, the merger is subject to compliance of Companies Act, 1956 and subject to receipt of approval from the Ministry of Corporate Affairs, shareholders and stock exchanges. The stock of NTPC is trading in the green.
Aluminium stocks are trading in the green with National Aluminum Company (NALCO) leading the gains. As per a leading financial daily, NALCO has proposed undertaking significant projects in the twelfth five year plan. The projects include alumina refinery in Andhra Pradesh and Gujarat, and aluminum smelter and power plant at Sundargarh in Odisha . The company is also planning to set up wind power plant in Andhra Pradesh and fifth stream of alumina refinery at Odisha. Apart from this, the company aims to undertake nuclear power plant project in joint venture with Nuclear Power Corporation of India (NPCIL) in Gujarat.