Among the Sensex firms, Power Grid, NTPC, Tata Steel, Tata Consultancy Services, JSW Steel, Wipro, Infosys, Tech Mahindra, Reliance Industries and Bajaj Finance were the major gainers. Axis Bank, HDFC Bank, Hindustan Unilever, Larsen & Toubro and ITC were among the laggards.
The government on Wednesday said the public offer for sale of shares in state-run power firms NTPC and NHPC will come as and when market conditions are appropriate.
Among Sensex firms, Power Grid and Tata Steel fell more than 2 per cent. HDFC Bank, State Bank of India, IndusInd Bank, Hindustan Unilever and NTPC were among the major laggards. Nestle, Bajaj Finserv and Bajaj Finance were among the gainers.
Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards. Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure. In contrast, NTPC, TCS, Tech Mahindra, Bajaj Finance bucked the trend and ended the day in green. Axis Bank, Bharti Airtel, Mahindra & Mahindra and Tata Motors also defied the trend.
Among the Sensex firms, Bajaj Finance, Bharti Airtel, Maruti, Bajaj Finserv, HCL Technologies, Titan, Hindustan Unilever, JSW Steel, UltraTech Cement, State Bank of India and Reliance Industries were the major laggards.
From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen & Toubro, ICICI Bank and Power Grid were the major gainers. Tata Motors dropped over 8 per cent despite reporting over three-fold jump in consolidated net profit at Rs 17,528.59 crore for the fourth quarter ended March 31, 2024. NTPC, Bharti Airtel, Titan, State Bank of India and Nestle were the other major laggards.
ICICI Bank, Axis Bank, Wipro, Kotak Mahindra Bank and NTPC were among the major gainers in the Sensex pack. The five stocks that defied the trend included UltraTech Cement, Mahindra & Mahindra, Titan, Tata Motors and Nestle.
Among the Sensex firms, Kotak Mahindra Bank, Axis Bank, Bharti Airtel, Sun Pharma, HCL Technologies, Mahindra & Mahindra, Titan and Tata Consultancy Services were the biggest gainers. UltraTech Cement, NTPC, Maruti, JSW Steel, Power Grid and Tata Motors were among the laggards.
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter. Bharti Airtel, ITC, HCL Technologies, Asian Paints, Wipro, HDFC Bank, Nestle, Tata Steel, Tata Consultancy Services and Maruti were among the other major laggards. NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra were among the gainers.
From the Sensex basket, Maruti, Mahindra & Mahindra, NTPC, JSW Steel, Larsen & Toubro, Reliance Industries, Axis Bank, and Power Grid were the major gainers. Nestle, Wipro, Tata Consultancy Services, HDFC Bank, Titan, HCL Technologies and Infosys were the laggards.
Benchmark Sensex rebounded by 167 points in a volatile trade on Friday amid buying in ICICI Bank, State Bank of India and Reliance Industries. The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During the day, it hit a high of 71,676.49 and a low of 71,200.31.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
Equity benchmark index Sensex on Wednesday crashed over 900 points to sink below the 73,000 level due to widespread selling pressure amid a sharp fall in smallcap and midcap indices. Besides, deep losses in utility, energy and metal stocks and recent selling by foreign investors added to the gloom, analysts said. Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
State Bank of India was the biggest gainer in the Sensex pack, rising 4.24 per cent, followed by Tata Steel, Axis Bank, Maruti, NTPC, PowerGrid, ITC and Nestle India. Reliance jumped 1.15 per cent to end at Rs 2,962.60 apiece on BSE.
Among the Sensex firms, Bharti Airtel, NTPC, Tech Mahindra, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Titan, Axis Bank, JSW Steel and Larsen & Toubro were the major gainers. IndusInd Bank, Kotak Mahindra Bank, HDFC Bank and State Bank of India were the laggards.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
The dispute relates to NTPC's Barh stage-I project, where the Russian company is supplying boilers for three units of 660 MW each. The work at the Rs 8,700-crore (Rs 87-billion) project has come to a standstill and is now running two years behind schedule, owing to the dispute between NTPC and TPE.
NTPC-BHEL Power Projects, the joint venture between state-run BHEL and NTPC for making power equipment among others, is likely to rope in a global technology provider and may offer a minority stake, an NTPC official said on Tuesday.
Will fetch government Rs 11,300 crore.
Others shortlisted by the Department of Disinvestment for the NTPC offer were Deutsche Bank, SBI Capital Markets and Kotak Mahindra Capital.
Among the Sensex firms, Bajaj Finance jumped 4.44 per cent and NTPC rose over 3 per cent. IndusInd Bank, Axis Bank, Tata Motors, Nestle, Power Grid, Infosys, Bajaj Finserv and HDFC Bank were the other major winners. HCL Tech, Mahindra & Mahindra, Maruti and Hindustan Unilever were among the laggards.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
India's largest power company NTPC plans to invest a massive Rs 2,25,000 crore (Rs 2.25 trillion) in the next seven years in capacity expansion to become a 75,000-MW entity, company's chairman and managing director R S Sharma said on Tuesday.
The staff cost for NTPC, the country's biggest power producer, is likely to go up by about 16 per cent as the company plans to spend about Rs 2,800 crore in the current financial year on its employee benefits and renumeration. It had spent Rs 2,400 crore in 2009-10.
The interlocutory application filed on Tuesday made it clear that $4.20 per mmBtu price approved by the government for RIL's KG-D6 gas was without prejudice to the state-run firm's case seeking the fuel from the Mukesh Ambani-run company at $2.34 per mmBtu price committed in 2004.
The 11 units comprise two 660 MW units for the Damodar Valley Corporation and nine for the NTPC. The NTPC and DVC have already received the techno-economic clearance to buy Rs 21,000 crore worth of power equipment for their upcoming thermal power generation plants from the Central Electricity Authority. The equipment would be procured through the international competitive bidding route. The bidders should have a manufacturing base in India.
RIL is also fighting a case with Reliance Natural Resources Ltd in the Supreme Court on supply of 28 mmsmcd at the NTPC price to the Anil Ambani-owned company. Though Subramanium has said this case has no bearing on NTPC, the ministry of petroleum and natural gas' plea in the Supreme Court may have implications on price and utilisation of gas sales from RIL's D6 block in the Krishna-Godavari basin.
The country's largest power producer, NTPC, which will add another 20,000 MWs by 2017 and induct large sized units of 1000 MWs during the 12th Plan, has its initial public offering oversubscribed by 13.4 times in the stock exchange.
Public sector major NTPC's follow-on public offer (FPO) managed to scrape through today, but raised questions about the state of the primary markets and the government's disinvestment programme.
Of the 17.99 mmcmd gas allocated to the power sector, gas supply pacts of only 2.67 mmcmd allocated to NTPC remained to be signed. NTPC's opposition has also delayed the GSPA for a separate 2.7 mmcmd allocated to the Dabhol power plant and the same is now slated to be signed next week.
The government holds 89.5 per cent stake in NTPC and it plans to dilute five per cent stake constituting 41.22 crore (412.2 million) shares through its proposed FPO.
RIL has complained the to power ministry about NTPC's reluctance to sign an agreement to buy gas from it and said that the power PSU stands to lose Rs 15,000 crore (Rs 150 billion)on buying imported LNG.
The letter comes days after the government made it clear that the empowered Group of Ministers approved price of $4.2 per mmBtu for RIL's KG basin gas.
In the face of oil minister's comment that Reliance Industries Ltd gas to NTPC could be given at a government-approved price, the state-owned power major on Saturday said it will continue to fight legally for the fuel's contracted price and seek power ministry's help.
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore. Nestle India gained 1.68 per cent after it reported around 9 per cent growth in sales. JSW Steel, Bajaj Finance, Axis Bank and Asian Paints were among the gainers.
State-run power firm NTPC overstated its profits by Rs 938 crore (R 9.38 billion) in 2007-08, the Comptroller and Auditor General of India said in a report, but categorically stated that chances of Satyam like frauds in PSUs are very remote.
State-run NTPC has agreed to buy natural gas from Reliance Industries but is opposed to paying marketing margin to the private firm and wants to use the fuel at plants other than Kawas and Gandhar that were identified by the government.
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