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Indian markets edge upwards
Thu, 25 Jun 01:30 pm

Indian Indices have added to the early gains in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the mining and financial institutions sectors leading the gains.

The BSE-Sensex is trading up by 107 points (up 0.05%) and the NSE-Nifty is trading up by 25 points (up 0.3%). The BSE Mid Cap index and the BSE Small Cap index are trading with marginal gains, up by 0.2% and 0.1% respectively. Gold price, per 10 grams, is trading at Rs 26,559 levels. Silver is available at Rs 36,128 levels per kg. Crude oil is trading at Rs 3,844 per barrel. At the time of writing, INR stood at 63.59 to the US dollar.

Stocks in the power space are trading mixed with Jaiprakash Power and Rattanindia Power leading the losses. NTPC Ltd, the largest power generating company in India, is planning to invest Rs 10 bn on Research & Development (R&D). This R&D exercise will include groundbreaking work in areas of new and renewable energy, waste management, efficiency improvement and cost reduction. For the last fiscal, the company had spent about Rs 1.3 bn on R&D. Further after announcing big plans for entering the solar energy sector, NTPC has now decided to work on developing power generating technologies. These technologies will use lesser volumes of coal and thus reduce greenhouse gas emissions. Stock of NTPC is trading marginally down.

Aluminum stocks are also trading mixed. As per financial times, National Aluminum Company (Nalco) has inked an agreement with Gujarat Alkalies and Chemicals (GALC) for setting up an integrated caustic soda plant and captive power plant at Dahej in state of Gujarat. The cost for the same is reported at Rs 17.8 bn. The capacity of the caustic soda plant will be 2.7 lakh tonnes per annum and that of the captive power plant will be 100 MW. Nalco will hold 40% equity in the project, while the rest will be held by GALC, the Gujarat owned company. Stock of Nalco is trading in the red, down by 1.3%.

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