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Metal Stocks Lead the Gains
Mon, 21 Dec 01:30 pm

After opening flat, the Indian Indices inched northwards and are presently trading on a positive note. Sectoral indices are trading in the green with stocks from the FMCG, banking and metal sectors leading the gains. Healthcare stocks are however trading in the red.

The BSE Sensex is trading up 185 points (up 0.7%) and the NSE Nifty is trading up 59 points (up 0.8%). The BSE Mid Cap index is trading up 0.6% while the BSE Small Cap index is trading up by 0.7%. Gold prices, per 10 grams, are trading at Rs 25,193 levels. Silver price, per kilogram is trading at Rs 34,022 levels. Crude oil is trading at 2,388 per barrel. The rupee is trading at 66.31 to the US$.

Stocks in the telecom space are trading on a positive note with MTNL and ADC India Communication witnessing maximum buying interest. As per a leading financial daily, Cellular Operators Association of India (COAI) has reported that the GSM mobile subscriber base in the country increased by 96.9 lakh during the month of November to reach 749 million. The subscriber base stood at 739 million at end of October.

The country's top operator Bharti Airtel added 28 lakh new subscribers in November to take its base to over 240 million with a market share of 32.14%. Vodafone added 24.73 lakh users and its base increased to 191 million with a market share of 25.62%. Idea Cellular added 33 lakh new subscribers during the month to take its base to 170 million with a market share of 22.78%. Aircel added 4.09 lakh subscribers, while Telenor added 7.05 lakh and their user bases stood at 85 million and 49 million respectively. Lastly, state-run MTNL added 4,211 subscribers to take its base to 35.22 lakh.

Power stocks are also trading positively with KSK Energy and Adani Power leading the gains. Tata Power's subsidiary Maithon Power Ltd has commenced 150 MW (mega watt) supply to Kerala, while the balance 900 MW was already being supplied on long term basis. With that, the entire 1,050 MW is now being supplied to procurers on long term PPA (power purchase agreement) basis.

Maithon Power Ltd is a joint venture of Tata Power and DVC. It has set up the 1,050 MW (2*525 MW) unit near Dhanbad, Jharkhand. The project is country's first 525 MW unit thermal power plant using subcritical technology and the first PPA venture plant in the nation. It will supply power to four states namely New Delhi, Jharkhand, West Bengal and Kerala as per long term PPA which are currently facing shortage of electricity.

Moreover, on a separate note, Tata Power has tied up with the renewable energy company Gamesa India for commissioning of 100 MW turnkey wind project in Andhra Pradesh. The project will entail supply, erection and commissioning of 50 units of wind turbines at Nimbagallu site in Andhra Pradesh by May 2017.

Stock of Tata Power is presently trading down by 0.2%.

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Aug 16, 2017 (Close)

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