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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indices close to the dotted line 
(Tue, 26 Jun 01:30 pm) 
 
The Indian equity markets hovered around the dotted line for most part of the post noon trading session. Currently stocks from the power, banking and Oil and gas spaces are amongst the most favoured stocks while those from the FMCG and consumer durables sectors are amongst the top underperformers.

The Sensex today is trading higher by about 20 points (0.1%), while the NSE-Nifty is trading higher by about 8 points (0.2%). The BSE Mid Cap and BSE Small Cap indices are trading higher by about 0.4% and 0.2% respectively. The rupee is trading at 57.05 to the US dollar.

Stocks of power companies are trading firm led by Tata Power, Reliance Power and Torrent Power. This week is a crucial one for power companies given that an important issue will be discussed during the inter-ministerial meeting, which is scheduled for June 28. The issue is related to deal with passing on the increase in raw material prices to the end users. It may be noted that many power producers in India approached the government for increasing tariffs of imported coal based projects as Indonesia increased duties on exports of coal, making operations for the Indian power producers unviable. The Power Ministry is likely to finalise the Standard Bidding Process (SBDs) for upcoming thermal power projects (including the ultra-mega power projects (UMPPs). On doing so, it would pave way for inviting preliminary bids for UMPPs. Given than UMPPs are expected to contribute substantially towards the government's ambitious target of adding 90,000 MW of capacity by 2017, this development will be closely watched.

Stocks of engineering companies are trading firm led by Jyoti Structures, Jain Irrigation and Thermax. As per a leading financial daily, BHEL has bagged a Rs 9500 m contract in Bhutan. The contract involves an electromechanical equipment package for a 1,020 MW hydroelectric project. The project is being set up under bilateral agreement between India and Bangladesh and has been placed by Punatsangchhu Hydroelectric Project Authority, Bhutan. Currently, BHEL is executing the 1200 MW Punatsangchhu-I project. Prior to this, the company had executed three hydro projects namely Chukha (336 MW), Kurichu (60 MW) and Tala (1,020 MW), constituting 95% of the total power generation capacity in Bhutan. The turbines, generators and associated equipment will be manufactured by BHEL's Bhopal facility while the control systems will be provided by the company's electronic division in Bangalore.

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Apr 25, 2017 11:52 AM

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