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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Banks drive the gains in the markets 
(Mon, 22 Nov 09:30 am) 
 
Asian markets have opened on a mixed note. The risk of debt contagion in Europe receded with Ireland accepting a bailout from the European Union and IMF. This has created a positive mood in Japan and Taiwan, which have opened the day in the green. However, markets in China and Hong Kong have opened the day on a weak note. China's central bank has instructed banks to set aside an additional 0.5% of their deposits. This is the fifth rate hike by the bank this year. The Indian markets have opened the day on a positive note. Stocks from consumer durables and banking sectors are the main gainers.

The BSE-Sensex is trading higher by around 139 points (0.7%), while the NSE-Nifty is up by about 46 points (0.8%). Mid and small cap stocks are trading in the positive as well, with the BSE-Midcap and BSE-Smallcap indices up by 0.9% and 1.2% respectively. The rupee is trading at 45.26 to the US dollar.

Power stocks are powering ahead with NTPC and NHPC trading in the green. Tata Power has unveiled its plans to have at least 25% of its power generation or around 8,000 MW of energy from the clean sources by 2017. These sources would include wind, solar, hydro, geo-thermal and gas. In relation with this plan, the company plans to invest Rs 50 bn in wind energy. The company currently has around 200 MW of wind capacity. The plan is to add 100-150 MW annually till 2017 in wind capacity to achieve a target of around 750-800 MW by then. In solar, the company aims to have 300-400 MW capacity by 2017. In geo-thermal, the company is already engaged in a 240 MW project joint venture with Origin of Australia, in Indonesia. Tata Power, which now has a capacity of 447 MW in hydro, is presently engaged in constructing a 114 MW plant in Bhutan in a joint venture with the Bhutanese Government. It is also developing an 800 MW plant in Nepal in a joint venture with Norway's SN Power. The stock is currently witnessing selling pressure.

Crompton Greaves has become the world's first company to develop high-range power product 1,200 KV capacitive voltage transformer (CVT). The product is conceived, designed and developed indigenously. Earlier, a 1,100 KV system had been successfully established by China. The development of the product by India is expected to help it tackle the ever growing power demand in the country. India's power demand is expected to be over 400 GW by 2020. As per Crompton Greaves' managing director, the successful development of the CVT is a milestone in the company's endeavor to be a leading edge technology driven manufacturing unit. The stock is currently trading in the green. Other capital goods stocks are trading in the green as well.

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Sep 25, 2017 (Close)

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