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Indian share markets firm up
Fri, 27 Dec 01:30 pm

After opening in the green, Indian share markets continued to rise in the post-noon trading session. Barring oil & gas, all the sectoral indices are trading in the green with IT, realty and FMCG stocks being the biggest gainers.

BSE-Sensex is up 136 points and NSE-Nifty is trading 38 points up. Both BSE Mid Cap and BSE Small Cap indices are trading up by 0.4%. The rupee is trading at 62.0 to the US dollar.

Majority of the power stocks are trading in the green with KSK Energy and GVK Power being among the major gainers whereas Nevyeli Lignite and Satluj Jal Vidyut are among the few stocks trading in the red. As per a leading financial daily, NTPC has chalked out plans to add 19,000 MW of capacity out of which nearly 9,000 MW would be commissioned by 2017. Ten coal-based thermal power projects with a capacity of 13,290 MW are currently under construction. Plants with an aggregate capacity of 5,000 MW are also being executed by the company in joint venture in the states of Bihar, Uttar Pradesh and Tamil Nadu. The company is also building solar power projects including a 50 MW Rajgarh solar photo voltaic plant in Madhya Pradesh. The company currently generates 42,454 MW of electricity from various sources of energy. NTPC's stock is currently trading up by 0.3%.

Most of the steel stocks are trading in the green with Gujarat Mineral Development Corporation and SAIL being among major gainers. Only Maharashtra Seamless and Bhushan Steel are trading in the red. As per a leading financial daily, SAIL is in talks with oil & gas major, ONGC to jointly explore coal-bed methane from its coal blocks. SAIL has been exploring the possibility of tapping methane trapped in coal seams of its coal blocks after the government allowed Coal India to produce methane from existing coal mines. Coal-bed methane is environment friendly natural gas used as an industrial fuel. Earlier there were ownership issues as the coal ministry regulates coal reserves whereas coal bed methane comes under the ambit of the oil ministry. It may be noted SAIL wants to develop new coal blocks at Tasra and Sitanala and expects to have a large scale output from these blocks by 2015.

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