State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.
The company, which hired 1,050 people in the previous financial year (2008-09), has so far added a headcount of 900 and would hike this figure to 1,100 by the end of the fiscal.
Decks have been cleared for National Thermal Power Corp's foray in oil exploration sector with the government awarding one block to the power major under the fifth round of New Exploration Licensing Policy.
From the Sensex basket, Kotak Mahindra Bank jumped 5 per cent after the company reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins. Tata Consultancy Services, Hindustan Unilever, Mahindra & Mahindra, Sun Pharma, Tech Mahindra and IndusInd Bank were among the other major gainers. Titan tanked 7 per cent after its March quarter earnings failed to cheer investors.
The Coal Ministry on Monday received a total 69 applications from various PSUs
India, besides China, the UAE and Qatar, are some of the major countries where CCI indulged in unfair practices to bag contracts.
Confidence in the company as government is the biggest shareholder.
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank. After breaching the 77,000-mark during the early trade, the 30-share BSE Sensex came under selling pressure at the fag-end of the session and ended 203.28 points or 0.27 per cent lower at 76,490.08. During the day, the benchmark jumped 385.68 points or 0.50 per cent to hit a new record of 77,079.04.
Other members include former Central Bank of India chairman and managing director Homai A Daruwala, former bureaucrat of the Madhya Pradesh cadre Prashant Mehta and RGPPL's managing director R K Srivastav.
The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 404.18 lakh crore on Thursday helped by a five-day rally in benchmark indices, making investors richer by Rs 11.29 lakh crore. Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. During the day, it surged 718.31 points or 0.97 per cent to 74,571.25.
The company is enhancing its capacity from the present 28,000Mw to 55,000Mw by the end of the Eleventh Five Year Plan and, therefore, fresh addition is necessary, GK Agarwal, executive director (human resources), NTPC, said.
'We are in a position to start due diligence and private data room access shortly.'
Global agency Fitch on Monday lowered the rating outlook of public sector companies including NTPC, SAIL and IOC to negative but said the downgrade of India's credit outlook to negative would not impact the rating of Reliance Industries.
The power ministry has got an assurance from the government that its company will be duly compensated.
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
With eyes set firmly on becoming a multi-national company by 2017, state-owned National Thermal Power Corporation is planning to foray into the Middle East market with two projects in Saudi Arabia and Oman.
Govt to earn Rs 13,000 crore via stake sales in NTPC and IOC.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
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.
In a bid to transform itself into a multi-national company, state-owned National Thermal Power Corporation on Friday said it plans to enter the European market with a foray into England.
PSU, other govt bodies told to explain delay on developing the concessions for years.
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.
RNRL and Mukesh Ambani's RIL are fighting a legal battle over the terms of gas supply agreement for Anil Ambani Group's gas-based Dadri power project. Two weeks ago, government lawyer Mohan Parasaran had stated in the court that the Empowered Group of Ministers had decided that $4.2 per mmbtu would be the minimum price of KG basin gas.
Each year lakhs of engineering students vie for just about 800 jobs in this PSU . But it's worth a try!
RIL senior vice president (commercial) B Ganguly wrote to NTPC on Friday expressing his company's willingness to sign Gas Sales and Purchase Agreements for the state-run firm's Anta, Dadri and Faridabad plants.
RIL is relying upon the pleadings in RIL Vs RNRL case to support its defence against NTPC.
The state-run power utility NTPC Ltd has signed an agreement to buy gas from GAIL India for 10 years at a delivered price of close to $8 per million British thermal unit.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
The government's disinvestment programme made a muted re-start with the Cabinet Committee on Economic Affairs approving the part-sale of its stake in two power companies -- NTPC and Satluj Jal Vidyut Nigam -- but postponing a decision on the overall disinvestment policy.
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards. Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
State-owned National Thermal Power Corporation is likely to hit the market with a maiden public offer for shares in the first week of August, targeting to raise up to Rs 2,000 crore (Rs 20 billion).
Sources said the company was likely to be incorporated with the four government companies holding equity in proportion to their profits, implying that the bigger the profit size, the larger their holding. The combined holding is likely to be in the range of Rs 325 crore (Rs 3.25 billion).
