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Energy stocks lead the gainers
Tue, 22 Jul 11:30 am

After opening firm, the Indian stock markets have continued to trade strong in the last two hours of trade. The indices have remained well above the dotted line in morning session. A majority of the sectoral indices are trading in the green with stocks from oil and gas and realty sectors being the outperformers.

The BSE-Sensex is trading up 189 points. The NSE-Nifty is trading up 52 points. The BSE Mid Cap index is trading up 0.7% and the BSE Small Cap index is trading up 0.8%. The rupee is trading at 60.17 to the US dollar.

Most Telecom stocks are trading higher today. Idea Cellular and Bharti Airtel are leading the gainers. Indian telecom firms have received a huge boost with the latest decision of the Telecom Regulatory Authority of India (TRAI). The telecom regulator has paved the way for spectrum sharing in India. This was a long standing demand of the sector. Two telcos will now be allowed to share up to 25% of spectrum allocated to them within the same spectrum band. This decision has the potential to lower operating costs for telcos. It could lead to cheaper services if the companies were to pass on the benefit to the consumer. Sharing of spectrum will also mean that the sector could witness excess capacity and thus the overall quality of service could also improve. Telcos will also benefit in future spectrum auctions as they will need to spend less than what they would have had to earlier.

Majority of power stocks are trading strong, with JSW energy and Indiabulls power being among the leading gainers. As per the financial daily, Adani power and Tata power will be able to charge higher tariffs on back of increase in the cost of Indonesian coal. The sudden surge in the coal prices has impacted the cost of power generation of these companies. Appellate Tribunal for Electricity (APTEL) has also given green signal to increase the prices to both the companies. The regulator has also permitted both the companies to claim the arrears from March 2014 onwards. This was the time when the central electricity regulatory commission (CERC) had allowed compensatory tariff.

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Feb 23, 2018 (Close)