1:30
am Buzzing: Shares of BHEL rose 2.5 percent
intraday. The company has successfully commissioned a 195 MW thermal unit in
Bihar. It says that this is the first 195 MW unit to be commissioned by BHEL at
the 2X195 MW Muzaffarpur Thermal Power Station (TPS) Plant of Kanti Bijlee
Utpadan Nigam (KBUNL), a joint venture of NTPC and MSPGCL, Bihar. The second
195 MW is expected to be commissioned in FY2015-16. Earlier, in the first week
of March 2015, a 660 MW supercritical thermal unit was commissioned by BHEL at
Barh in Bihar.
Don't
miss: ONGC, OIL rise 4-5% as govt to bear entire fuel subsidy
The
market is still on its northwards journey as the Sensex is up 343.83 points or
1 percent at 27355.14. The Nifty is up 107 points or 1 percent at 8288.50.
About 1790 shares have advanced, 711 shares declined, and 139 shares are
unchanged.
ONGC,
Bajaj Auto, M&M, Cipla and Hindalco are top gainers in the Sensex. Among
the top losers are Tata Motors, L&T, Wipro and ICICI Bank.
Meanwhile,
both Future Retail and Future Consumer Enterprise are up 15 percent each on
hopes of a possible merger with Bharti Retail.
Meanwhile,
Hartmut Issel, Head of Equity & Credit for Asia Pacific at UBS continues to
feel India is on track and bases the premise of his optimism on oil prices.
Issel, who is also CIO, the Wealth Management at UBS says low oil prices may
have been good for the economy but also impacted corporate profits. A lot of
earning downgrades is a result of that factor, Issel says.
He
says oil prices have since moved up and expects that to firm up a bit more
resulting in wiping out the main source of downgrades. Once that is taken care
of, Issel sees the domestic story picking up again. For more information please
visit this site www.appsmine.org
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