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Firm Finish to the Week
Fri, 1 Jul Closing

Indian indices continued to trade well above the dotted line in the afternoon session and finished in the green for the fourth consecutive session amid firm global markets. At the closing bell, the BSE Sensex closed higher by 145 points, the NSE Nifty finished higher by 41 points. The S&P BSE Midcap & the S&P BSE Small Cap also finished up by 1.2% and 0.7% respectively. Gains were largely seen in oil & gas, capital goods and FMCG stocks.

Asian markets finished broadly higher today with shares in Hong Kong leading the gains. The Hang Seng is up 1.75%, while Japan's Nikkei 225 is up 0.68% and China's Shanghai Composite is up 0.1%. European markets are trading higher today with shares in London leading the region. The FTSE 100 is up 0.3%, while France's CAC 40 is up 0.2% and Germany's DAX is up 0.14%.

The rupee was trading at 67.44 against the US$ in the afternoon session. Oil prices were trading at US$ 48.08 at the time of writing.

Automobile stocks finished the day on a mixed note with M&M and Escorts Ltd leading the gains. Ashok Leyland has reported an increase of 7% in June 2016 sales to 11,108 units as against 10,429 units sold in the same period of last year.

The company has experienced a jump of 8% in its medium and heavy commercial vehicle (M&HCV) products segment to 8,685 units in June 2016, as compared to 8,016 units in June 2015. Sales of light commercial vehicles (LCV) registered were 2,423 units in June 2016 as against 2,413 units in June 2015. The company reported a 32.2% YoY growth in revenues, while net profits fell by 66.5% in the final quarter (Subscription Required) of the financial year 2015-2016.

The company recently in a statement stated that it will focus on its core business of commercial vehicles in domestic and overseas markets including a new assembly unit in Bangladesh. The company is also re-appraising the defense business with two branched strategy- growing the traditional tactical vehicles as well as broadening the offerings to address the government's 'Make in India' requirements.

The scrip of Ashok Leyland finished the trading day up by 1% on the BSE. The stock has moved up by more than 30% in the past one year. In a recent edition of The 5 Minute WrapUp Premium, we have discussed the performance of Ashok Leyland (Subscription Required) in recent times.

Power stocks finished the day on a positive note with Tata Power and Power Grid Corp. gaining the most. According to a leading financial daily, NTPC Limited registered a 10% growth in power generation in the first quarter of FY 2016-17. The company's electricity generation increased to 64.6 billion units in the first three months from 58.7 billion units a year ago.

Reportedly, the electricity tariff billed by NTPC to the beneficiaries has also been reduced significantly as compared to the same period last year despite increase in fuel prices. The cost reduction is a result of lesser coal imports and the government's Ujwal Discom Assurance Yojana that reduced coal transportation charges.

In another development, NTPC Ltd invited online bids for the construction of 18 MW of photovoltaic power capacity (Subscription Required) on the Andaman and Nicobar Islands. As per reports, the tender is for the award of turnkey contracts to design, engineer, and manufacture, install and commission the grid-connected solar park at Chidiyatapu in South Andaman. The winning bidders will also be in charge of the operation and maintenance (O&M) for five years.

India has officially committed to boost its renewable energy capacity to 175 GW by 2022. The goal includes 100 GW of solar and 60 GW of wind.

NTPC has a total installed capacity of 47178 MW through its 18 coal based, 7 gas based, 9 solar PV, one Hydro and 8 Subsidiaries / Joint Venture power stations. Company has a capacity of over 24,000 MW under different phases of construction presently. NTPC finished the day up by 0.1% on the BSE.

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Jan 19, 2018 (Close)