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Indian stock markets hit their lowest level in more than two weeks and finished the trading session in the red for the third consecutive day as European Central Bank's (ECB) stimulus package fell well short of markets' high expectations. The ECB had cut its deposit rate deeper into negative territory and extended its asset buying by six months. The BSE-Sensex ended the day lower by about 249 points, while the NSE-Nifty closed lower by about 82 points. S&P BSE Midcap and S&P BSE Smallcap also ended on a negative note with their representative indices closing lower by about 1.1% and 0.6% respectively. Losses were largely seen power and realty stocks
Asian markets finished broadly lower today with shares in Japan leading the region. The Nikkei 225 is down 2.18% while China's Shanghai Composite is off 1.67% and Hong Kong's Hang Seng is lower by 0.81%. European markets are lower today with shares in France off the most. The CAC 40 is down 0.27% while Germany's DAX is off 0.19% and London's FTSE 100 is lower by 0.13%. The rupee was trading weak at 66.84 against the US$ in the afternoon session.
According to a leading financial daily, HCL Technologies has opened a center in Estonia's capital city Tallinn to service some of its key customers in continental Europe. This marks the country's expansion in the Baltic region and will accommodate 100 seats by next year.
The company hopes to deliver a number of services including application development, digital and core systems transformation, legacy modernization, and infrastructure services through this center. The company chose Tallinn due to its proximity to Finland and Sweden as well as the rest of the Nordic countries allowing convenient access all across Northern Europe and Benelux.
While all of the IT majors have outperformed the Indian benchmark in the first ten months of 2015, HCL Tech has outperformed its peers (Subscription Required). The underperformer has been TCS whose stock has barely moved, though it has managed to do better than the BSE Sensex.
According to leading financial daily, NTPC has installed a 150 kilo watt rooftop solar PV plant at its Power Management Institute. The plant is implemented under SECI Rooftop Solar PV scheme, with 30% subsidy from Ministry of New and Renewable energy. With installation of 80 kilo watt power at NETRA, 110 kW at its engineering office in Noida aggregating to 340 kW in NCR region is expected to generate 0.5 million unit electricity avoiding around 485 ton CO2 per annum.
The company is targeting rooftops of all its building and power stations for solar installations. The company has ground mounted installed capacity of 110 MW Solar PV at 8 locations including 50 MW at Rajgarh in Madhya Pradesh.
It may be noted that NTPC is the leading power generator of India. The total installed capacity of the company exceeds 45,000 MW which accounts for 25% of all India generation. The company is one of the seven Maharatnas and clocked the third highest profit amongst Public Sector Units (PSU) in FY15. Of its own capacity, 85% is coal based, operated through 18 coal power stations, 13% is gas based and the remaining 2% constitutes of solar and hydro power plants. Here is the detailed analysis of NTPC in our recent StockSelect report (Subscription Required).
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