01:30pm BHEL in News: State-owned
power equipment maker BHEL has signed a Memorandum of Understanding (MoU) with
a Russian company INTMA, to set up a gas-based power project in Kazakhstan.
The MoU will further help BHEL in consolidating
its presence in the CIS countries, the company said.
"The two parties will endeavour to assist
each other in the implementation of this MoU. For us, this is a great
opportunity to expand our footprint in the CIS region," BHEL Chairman and
Managing Director B P Rao said.
Primarily engaged in manufacturing of power plant
equipment like gas turbines, steam turbines, hydro turbines and boilers, BHEL
has robust experience in construction of power plants in India and overseas, it
said. BHEL is currently executing 23 major projects in 16 countries and has a
presence in more than 75 countries.
01:00pm Market Check
Even after food prices fell to a three month low
in March, the market seems to be unimpressed. The Sensex is down 43.42 points
at 29001.02 and the Nifty is down 18.80 points at 8815.20. About 1493 shares
have advanced, 1141 shares declined, and 152 shares are unchanged.
Wholesale price index (WPI)-based inflation for
March fell to a new low of -2.33 percent, the fourth successive month of
deflating prices after the flat reading in November. The WPI reading for
February was -2.06 percent. A economists had forecast March WPI at -2.07
percent. Economists say the latest number is proof that inflation is clearly
trending lower, and this should provide the Reserve Bank of India room to cut
rates.
Sesa Sterlite, SBI, Tata Power, ITC and ICICI
Bank are top gainers in the Sensex. Among the losers are M&M, Bharti
Airtel, Tata Motors, Wipro and Infosys. For More information please visit this
site www.appsmine.org
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