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Auto & Realty Top the Gains
Thu, 4 Aug 01:30 pm

Indian indices are trading above the dotted line during the post noon trading session. Sectoral indices are trading mixed with auto & realty leading the gains while consumer durables & banking are bearing maximum brunt.

The BSE Sensex is trading higher by 18 points (up 1%) and the NSE Nifty is trading higher by 5 points (up 0.1%). The BSE Mid Cap index is trading up 0.3% while the BSE Small Cap index is trading up by 0.4%. Gold prices, per 10 grams, are trading at Rs 31,472 levels. Silver price, per kilogram is trading at Rs 47,270 levels. Crude oil is trading at Rs 2,743 per barrel. The rupee is trading at 66.92 to the US$.

As per an article in Business Standard, Siemens Ltd. announced that it has received an order worth approximately Rs. 2.2 billion for Power Grid Company of Bangladesh Limited (PGCB) project from Siemens AG, Germany.

The plan is a part of India Bangladesh pact for Power Exchange as per South Asia Sub Regional Economic Co-operation (SASEC) by Asian Development Bank (ADB).

Reportedly, the deal is for supply of Switch Yard Equipment, Fire Fighting Systems, Air-conditioning Systems, AC Control and Protections, Engineering for Civil and Plant for 500 MW High Voltage Direct Current (HVDC) Station.

Siemens is basically aiming at providing transmission and distribution technologies to Bangladesh to boost the power capacity of the country, the company stated.

Rahul Shah, Co-head of Research, has penned an interesting piece on engineering sector sharing a few pointers to help you in this space. (Subscription Required)

Moving on to the news from power sector. According to an article in a leading financial daily, Tata Power declared that it has raised Rs 35 billion through an issuance of non-convertible debentures on private placement basis.

According to the reports, the tenor of these securities will not exceed 3 years from the date of issue. The debentures will mature on 3 August 2019.

Considering power sector's several headwinds, Bhavita Nagrani, our research analyst, has discussed the challenges faced by Tata Power (Subscription Required) in one of our premium editions of The 5 Minute Wrap Up.

In an another news update, it was reported that India is set to add 5,200 MW solar capacity this fiscal. Various states have come out with policies for awarding solar power projects.

According to CARE Ratings, India is set to become the fourth largest solar market globally in 2016 mainly on account of government's thrust on enhancing the installed solar capacity to 100,000 MW by 2022.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Nov 24, 2017 (Close)

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