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Markets will remain closed on 19th & 20th October 2017.
We wish all our readers a very Happy Diwali!

Metal Stocks Trading Higher
Fri, 5 Aug 01:30 pm

Indian indices remain high up in the positive territory during the post noon trading session with investors indulging in major buying activity. Barring IT stocks, major sectoral indices are trading firm with metal & banking leading the gains.

The BSE Sensex is trading higher by 238 points (up 0.9%) and the NSE Nifty is trading higher by 92 points (up 1%). The BSE Mid Cap index is trading up 1% while the BSE Small Cap index is trading up by 1.2%. Gold prices, per 10 grams, are trading at Rs 31,780 levels. Silver price, per kilogram is trading at Rs 47,611 levels. Crude oil is trading at Rs 2,799 per barrel. The rupee is trading at 66.82 to the US$.

As per an article in Business Standard, Coal India Limited (CIL) is eyeing at entering into an agreement with a South African government miner to jointly procure coal mines in that country.

The company is further considering signing of a Memorandum of Understanding (MoU) with a mining company owned by the government of South Africa.

As per the reports, CIL is aiming to mutually undertake identification, acquisition and operation of coal assets in South Africa.

It is to be noted that, CIL had executed an MoU earlier with entities owned by provisional government of South Africa, for acquiring coal assets in that region.

Subscribers can access to CIL's latest result analysis (Subscription Required) on our website.

Moving on to the news from power sector. According to an article in a leading financial daily, NTPC announced that it has raised Rs 20 billion through issuance of green masala bonds in an overseas market for financing renewable energy projects.

The masala bonds are rupee denominated bonds where the investor takes the currency fluctuation risk while the borrowers don't bear the risk.

Radhika Pandit, Managing Editor of ValuePro has spoken about how firms are looking to tap cheap funds from overseas market through masala bonds (Subscription Required) in one of the edition of The 5 Minute WrapUp.

Moreover, the bonds raised will yield 7.48% annually with the launch on the London Stock Exchange (LSE).

Reportedly, the proceeds from this will be invested in the renewable energy market as NTPC seeks to add more wind and solar power projects to its portfolio.

NTPC has anticipated a business plan of capacity addition of about 1,000 mw through renewable resources by 2017, the reports noted.

NTPC was trading up by 0.6% at the time of writing.

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Oct 19, 2017 (Close)

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