In line with the target to restart Dabhol power plant next year, Ratnagiri Gas and Power Pvt Ltd will soon begin the process for signing a power urchase Agreement with Maharashtra with an offer to sell power at around Rs 2.70 per unit.
Chief Minister Arvind Kejriwal on Friday accused BSES discoms of trying to "blackmail" the government by threatening power cuts upto 10 hours a day, and warned them of strict action including possible cancellation of licenses.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
The 50-share NSE Nifty, however, was little changed, ending 1.20 points down
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The Bombay high court has given its go ahead for transfer of assets of the 2,184 MW Dabhol power plant to Ratnagiri Gas and Power Pvt Ltd, paving the way for restarting the plant before the end of 2006.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 50-share NSE Nifty after moving between 10,374.30 and 10,307.30 settled flat at 10,348.75, up 6.45 points, or 0.06 per cent.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
Rates to go up as Delhi power regulator works out plan to liquidate past dues.
Cairn India is 25th on the list with 22.2 per cent CGR.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
Processes are at an advanced stage for a number of assets of the Centre and central public sector enterprises (CPSEs) to be monetised. The assets include office space, apartments, factories, land, power transmission assets, sports stadia, gas pipelines, and telecom assets.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The BSE Sensex jumped 70.42 points to end at 34,503.49, while the broader NSE Nifty finished at 10,651.20, up 19 points.
Power Minster R K Singh said, "The power supply ramp down and ramp up -- they (officials) handled very smoothly, and I along with my senior officials -- power secretary, POSCO CMD -- were personally monitoring the situation from National Monitoring Centre in the ministry. I congratulate all the engineers of NLDC, RLDC and SLDCs for handling the situation very efficiently especially in huge response to the Prime Minister's call".
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
The broader NSE Nifty rose nearly 124 points to settle just below the psychological 11,000 level.
The broader Nifty ended on top of 9,800 again.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
Coal India was the biggest gainer on both Sensex and Nifty
The hike in clean energy cess is likely to impact input cost for thermal power producers
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
The meeting was about capex, and as the country is on the growth path, the companies were advised to increase capex, NLC India Chairman and Managing Director S K Acharya said after the meeting.
Mixed global cues and decline in crude oil prices further dent the sentiments.
Both the indices ended at their highest levels since February 1.
The broader NSE Nifty moved between 10,705 and 10,785.55, before ending 25.15 points, or 0.23 per cent down at 10,716.55.
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