Alstom T&D has gained 2.87 percent to Rs 162 per share after the company informed BSE that it has won a 400 kV substation contract worth 840 MINR from Chhattisgarh State Power Transmission.
RPower gains 6% after govt reprieve on coal use
Reliance Power has jumped 6 percent to Rs 107 per share after the company got a reprieve on Saturday as a ministerial panel under finance minister Pranab Mukherjee upheld a decision that allowed the company to use excess coal from Sasan power project’s mines to fuel its Chitrangi generation plant.
BHEL plunges as Rajasthan scraps Rs 12k cr tender
Reports have also stated that the Rajasthan government has scrapped tenders worth Rs 12000 crore that were bagged by Bharat Heavy Electricals Ltd (BHEL) more than a year. The stock is down 2 percent today at Rs 223.20. Reports stated that Rajasthan Rajya Vidyut Utpadan Nigam Ltd has scrapped EPC (engineering, procurement and construction) tenders for the upcoming supercritical units of the Suratgarh and Chhabra thermal power stations.
Other Updates
Meanwhile, the results to be announced today include Ajmera Realty, Alstom T&D, Bank of India, Dabur India, Exide Industries, Godrej Consumer, JSW Energy, Procter & Gamble, Punj Lloyd, Titan Inds, Vijaya Bank and United Phosphorus, Hinduja Ventures.But the mixed earnings announcement kept the markets in tizzy and turned the trade volatile, while ICICI Bank surprised the street with its better than expected numbers. However, at the same time, Hindustan Construction (HCC) came up with a dismal number, reporting greater than expected net loss for the final quarter.
The power sector is likely to be in focus today as Tata Power has independently secured a favourable legal opinion over the legality of a government decision allowing Reliance Power to divert surplus coal from the captive mines associated with its Sasan ultra mega power project.
Tata Power is up 1.1 percent while Reliance Power is up 6 percent today.
Courtesy: First Post
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