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Indian markets up on global cues
Fri, 15 May 09:30 am

Taking cues from record finish on Wall Street, the Indian Indices have opened the morning trade in green. The Sensex is up 120 points (up 0.44%) and the NSE-Nifty is up 36 points (up 0.44%) at 8,260. BSE Mid Cap and BSE Small Cap have also opened on a buoyant note with both the indices up by 0.5%. Barring Healthcare stocks, buying activity is witnessed across majority of the sectoral indices.

Overnight, US major indexes rallied 1% higher each on the back of calmer bond markets and a weaker dollar. Asian markets are trading on a mixed note. Australian indices and Japan's Nikkei advanced in early trade. Indian rupee gained in early trade and opened higher by 17 paise at 63.48 per dollar.

According to a leading financial daily, Power Grid Corp will invest over Rs 10 bn in the next few years for execution of two projects. The state run Power Grid will invest Rs 3.12 bn in transmission system for Ultra Mega Solar Park in Anantpur District in Andhra Pradesh. Reportedly, the company's board has also approved an investment of Rs 7.8 bn for creation of 400/220kV substations in Delhi during the 12th plan period. The company's board has also approved code of practices & procedures for fair disclosure of unpublished price sensitive information and conduct for regulating, monitoring & reporting of trading by insiders of Power Grid Corp.

Shares of automotive major Ashok Leyland have opened on a positive note after it was reported that the company would be making Rs 3 bn investment during the current financial year. The company would be investing Rs 1-1.5 bn as capital expenditure and a similar amount would be invested in joint ventures. Reportedly, the company is also planning to set up bus assembly plants in Africa, West Asia and one in India. The project would attract an investment of Rs 200 m each.

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Jan 22, 2018 (Close)