Share markets in India are presently trading on a strong note.
The BSE Sensex is trading up by 288 points, up 0.6% at 50,089 levels.
Meanwhile, the NSE Nifty is trading up by 84 points.
Hindalco and Tata Motors are among the top gainers today. Dr Reddy's and Infosys are among the top losers today.
The BSE Mid Cap index is trading up by 0.4%.
The BSE Small Cap index is trading flat.
On the sectoral front, stocks from the automobile sector, are witnessing most of the buying interest
On the other hand, stocks from the software sector, are witnessing most of the selling pressure.
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This Stock Could Potentially be the Next Bajaj Finance
It's a small NBFC player.
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It already derives good business from corporate lending.
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US stock futures are trading higher today, indicating a positive opening for Wall Street
Nasdaq Futures are trading up 37 points (up 0.3%) while Dow Futures are trading up 93 points (up 0.3%)
The rupee is trading at 72.48 against the US$.
Gold prices are trading up by 1% at Rs 45,269 per 10 grams.
In global markets, spot gold today rose 0.5% after the US Federal Reserve reiterated its stance to keep benchmark rates near-zero through at least 2023 while keeping interest rate unchanged near zero. The US dollar fell sharply overnight making the greenback-denominated metal cheaper for non-US investors.
Gold prices in Indian markets jumped today after the US Federal Reserve maintained its easy monetary policy stance. On MCX, gold futures rose 0.8% to Rs 45,189 per 10 grams. In the previous session, gold had ended flat.
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?
Moving on to stock specific news...
Among the buzzing stocks today is BHEL.
Bharat Heavy Electricals Limited (BHEL) announced that it has emerged as the lowest bidder at Rs 108 billion for the fleet mode tender floated by the Nuclear Power Corporation of India (NPCIL) for its 6x700 megawatt (MW) Turbine Island Package Projects.
Notably, PHWRs (Pressurised Heavy Water Reactors) are the mainstay of the Indian Nuclear Power Programme and 12 out of 18 operating PHWRs of NPCIL are equipped with BHEL-supplied Steam Turbine Generator sets with the balance from Canada and Ukraine. These sets have continuously been exhibiting excellent performance with Kaiga Unit -1 creating a world record of uninterrupted operation for 962 days, BHEL said in an exchange filing.
Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term
Additionally, BHEL has already supplied 2x700 MWe Steam Turbine Generator sets each for Kakrapar Atomic Power Plant and Rawatbhata Atomic Power Plant.
BHEL has been a reliable supplier of critical equipment and services for India's Nuclear Programme for many decades with specialised manufacturing facilities and capabilities already set up. The company aims to continue making a major contribution towards self-reliance in nuclear equipment production and initiatives taken will be a driving force towards the Aatmanirbhar Bharat Abhiyan of Government of India, it said.
BHEL is an Indian public sector engineering and manufacturing company based in New Delhi, India. Established in 1964, it is also India's largest power generation equipment manufacturer.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, shares of BHEL were trading up by 5.5% on the BSE.
Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, talks about why he thinks the price of bitcoin could go up to US$ 100,000, in his latest video for Fast Profits Daily.
In the video below, Brijesh shares his view by showing you why the bullish momentum is justified.
Tune in here to find out more:
Moving on to news from the energy sector...
Indian Oil Corporation (IOC) on March 17, 2021, entered into a collaboration with Phinergy, an Israeli start-up company specialising in hybrid lithium-ion and aluminium-air/zinc-air battery systems, to form IOC Phinergy Private Limited.
According to a press release, the collaboration took place in the presence of Union Minister Dharmendra Pradhan and Israel Energy Minister Yuval Steinitz.
The joint venture will manufacture aluminium-air systems in India to boost India's flagship programme - "Make in India" and recycle used aluminium to strengthen India's energy security.
In a significant boost to India's pursuit of e-mobility, two of the leading automotive manufacturers in India- Maruti Suzuki and Ashok Leyland signed a Letter of Intent (LOI) with the newly incorporated JV IOC Phinergy Limited, said the release.
Watch Now: Get Details of Richa's 3 Dark Horse Stocks
"Our energy sector will be growth-centric, industry-friendly, and environmentally conscious. We have the onerous task of ensuring ample access to energy to improve the lives of Indians coupled with the need to have a smaller carbon footprint. In this scenario, this technology to develop indigenous batteries using locally available aluminium fits into the energy vision of India as espoused by Prime Minister Modi, wherein he has given a clear call for increasing the contribution of electricity to decarbonize mobility," Union Minister Dharmendra Pradhan said.
Indian Oil Corporation is an Indian central public sector oil and gas company owned by the Ministry of Petroleum and Natural Gas. Indian Oil's business interests overlap the entire hydrocarbon value-chain, including refining, marketing of petroleum products, exploration and production of crude oil, natural gas and petrochemicals.
How this joint venture pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.
Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.
Here's what co-head of Research at Equitymaster, Tanushree Banerjee wrote about electric vehicles in one of her editions of
As per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.
Tanushree believes one of the companies manufacturing lithium ion batteries for powering electric cars will be a key catalyst for the Rebirth of India.
In January 2020, Tanushree recommended a high quality stock from this space. Subscribers can read the report here (requires subscription).
And if you are not a StockSelect subscriber, here's where you can sign up.
And to know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
What else is happening in the markets today? Dig in...
BSE Sensex is trading up by 288 points, while the NSE Nifty is trading up by 84 points.
Mar 18, 2021 10:06 AMINDIAN BANK share price is trading up by 5% and its current market price is Rs 123. The BSE BANKEX is up by 1.3%. The top gainers in the BSE BANKEX Index is INDIAN BANK (up 5.2%).
Mar 18, 2021 09:54 AMINDIABULLS REAL EST share price is trading up by 5% and its current market price is Rs 96. The BSE REALTY is up by 1.1%. The top gainers in the BSE REALTY Index is INDIABULLS REAL EST (up 5.2%). The top losers are OMAXE (down 0.1%) and PHOENIX MILL (down 0.2%).
Mar 18, 2021 09:30 amIndian share markets open strong. The BSE Sensex opened up by 316 points, while the Nifty is trading higher by 92 points.
Mar 18, 2021 09:42 AMDIXON TECHNOLOGIES share price is trading up by 11% and its current market price is Rs 4,588. The BSE CONSUMER DURABLES is up by 2.0%. The top gainers in the BSE CONSUMER DURABLES Index is DIXON TECHNOLOGIES (up 10.7%). The top losers is SYMPHONY (down 0.1%).
Mar 18, 2021 09:24 AMLAKSHMI MACHINE share price is trading down by 6% and its current market price is Rs 7,790. The BSE CAPITAL GOODS is up by 1.3%. The top gainers in the BSE CAPITAL GOODS Index are BHEL (up 6.0%) and HONEYWELL AUTOMATION (up 2.0%). The top losers is LAKSHMI MACHINE (down 6.5%).
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