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Indian equity markets extend gains
Mon, 28 May 11:30 am

Indian equity markets extended their initial gains and traded in the green over last two hours of trade. All sectoral indices are trading firm led by banking and capital goods stocks.

The BSE-Sensex is trading higher by 140 points and NSE-Nifty is trading up by 35 points. BSE Mid cap and BSE Small cap indices are trading higher by 0.9% each. The rupee is trading at 55.20 to the US dollar.

Telecom stocks are trading strong led by Reliance Communications and ITI Limited. As per a leading financial daily, Bharti Airtel has indicated plans to launch 3G services in Rwanda in the next quarter. Airtel had earlier launched its mobile services in Rwanda in March. It presently has an established 2G services network there. The Indian telecom company is now looking at investing US$ 100 m in the Central African country. This amount will be invested over a period of next 3 years. This will help in creating employment opportunities in Rwanda. Rwanda has almost 4.1 m mobile phone subscribers and telecom players like MTN Rwanda and Tigo Rwanda operate there.

Engineering stocks are trading in the green led by Shanthi Gears and Havells India. As per a leading daily, Bharat Heavy Electricals Limited (BHEL) has commissioned a 500 megawatt unit at National Thermal Power Corporation (NTPC)'s power plant in Uttar Pradesh. The unit at Rihand thermal plant has been started for stage III of the Rihand Super Thermal Power Station (STPS). The cumulative generating capacity of Rihand STPS is now 2,500 megawatt post commissioning of this new plant. We may note here that BHEL has already commissioned 4 units of 500 megawatt each at the power plant. BHEL is presently executing a few of NTPC's other contracts too at Barh, Jhajjar, Rihand, Mouda, Vindhyachal, Bongaigaon, Muzzafarpur and Nabinanagar.

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