Browse Category: Agri Commodity Market Tips

Share Market Tips-Nifty Future to open gap up by 12 points

Nifty Future to open gap up by 12 points against yesterday’s close as indicated by SGX Nifty which is currently trading at 10398

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The Indian Benchmark Index Nifty yesterday expired on a flat note and traded in a narrow range for the most part of the day before witnessing a pullback in the last hour of trade and inched the index higher from its daily low.

Major Players in the market FII and PRO have squared-off more than 2.33 lakh contracts yesterday, suggesting strength in the market for the March expiry.

The Nifty index lost 14 points or 0.14 percent from its previous close. The index remained in negative zone in mid-morning trade and regained strength in the final hour of trading. The index opened at 10354 and closed at 10383 after making a low of 10341.

Share Market Tips-Nifty Future to open gap up by 12 points

The Small Cap Index closed down by 40 points or 0.48%. The Index made a high of 8223 and closed at 8186 after making a low of 8162.

Among the sectoral performance, Metals & Mining and IT were the top performing sector which gained by 0.43 percent and 0.35 percent respectively from its previous close.

Nifty Future is opening gap up by 12 points against yesterday’s close as indicated by SGX Nifty which is currently trading at 10398.

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Sensex jumps 100 pts in opening trade, Nifty reclaims 10,400; IT, pharma extend gain

All sectoral indices have commenced trade in the green, while, in the broader market, midcaps are up around half a percent.

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Rupee Update: The Indian rupee opened higher by 9 paise at 64.95 per dollar on Friday versus previous close 65.04.

Bhaskar Panda of HDFC Bank said, “Worries of US rate hike, consequent rally in US yields, coupled with uncertainties due to the PNB episode has brought back pressure on the INR.”

“The USD-INR pair has broken through crucial 64.80 levels and traded above 65 yesterday. Today, I expect the pair to consolidate in a range of 64.85-65.15 given the dollar fall overnight.”

The dollar index against a basket of six major currencies was little changed after bouncing from a three-year trough of 88.253 late last week.

Market Opens: Equities have begun the day on a positive note, with the Nifty clocking 10,400 in the first few minutes of the trade.

The Sensex is up 98.71 points or 0.29% at 33918.21, and the Nifty is up 36.40 points or 0.35% at 10419.10. The market breadth is positive as 554 shares have advanced, 216 shares declined, while 94 shares are unchanged.

All sectoral indices have commenced trade in the green, while, in the broader market, midcaps are up around half a percent.

Sun Pharma has continued its gain from the previous sessions and is the top gainer on the Sensex. Along with it, Tata Steel and Aurobindo Pharma were the other gainers. Meanwhile, Hero MotoCorp, Coal India and Asian Paints were the top losers.

Among global markets, Asian shares rebounded as comments from a Federal Reserve official eased worries that the central bank might raise rates more aggressively this year, while the safe-haven yen held on to its gains amid heightened volatility across markets.

Financial markets have fluctuated wildly this month as investors fretted about how fast the Fed might raise rates in the wake of data showing a pick up in US inflation. That, in turn, has stoked anxiety that many central banks will start to tighten policy in a hit to earnings, which have boomed thanks to a synchronized uptick in global growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.4 percent, but was still on track to end the week barely changed.

US stocks advanced, putting major indexes on track to snap a recent spate of declines, buoyed by gains in industrial and energy shares as US Treasury yields eased.

The Dow and S&P dropped for a second consecutive session and the Nasdaq fell for a third straight on Wednesday after minutes from the US Federal Reserve’s January meeting showed the central bank’s rate-setting committee grew more confident in the need to keep raising rates.

Concerns about a faster pace of rate hikes from the central bank were eased by comments on Thursday from St. Louis Fed President James Bullard that expressed concerns a “bunch of hikes” could turn Fed policy restrictive, and benchmark 10-year US Treasury yields retreated from the more than four-year highs hit on Wednesday.

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PNB appoints PwC to probe Rs 11,400 crore fraud, says report

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

PNB appoints PwC to probe Rs 11,400 crore fraud, says report

Punjab National Bank has appointed auditor PwC to conduct an investigation into the alleged Rs 11,400-crore fraud involving jewelers Nirav Modi, Mehul Choksi and their companies, sources told The Economic Times. PwC has been asked to gather evidence that can be used against Modi and his associates in court, sources said.

In the 15-point “scope of work” document issued by PNB on February 17 and finalized on February 21, the bank instructed PwC to identify how the letter of undertaking (LoU) mechanism was misused by Modi, track the money and check on the end use of the funds raised.

It has also been asked to quantify PNB’s losses due to the alleged scam. The auditor will also seek to trace the assets of Modi and others involved that were not disclosed in company balance sheets and could be seized for recovery of dues.


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Sensex, Nifty start March series on a strong note

The market has started the March series on a positive note, tracking firm global cues. The Sensex started off around 100 points higher and is currently trading at that level. The Nifty has reclaimed the 10,400-mark. All sectoral indices are trading in the green, with Nifty pharma emerging as the top gainer. Midcaps, too, have seen a strong opening, up around half a percent.

After taking a beating in the past few sessions, state-run banks have seen some strong moves. The Nifty PSU bank index is up over a percent.

Shares of Sun Pharma are up over 3% as its Halol inspection is likely to end today. The stock is the top gainer on the Sensex. Federal Bank is up around 4% after it acquired 26% stake in Equirus Capital.


PNB transfers 1,415 employees post scam

Punjab National Bank (PNB) has transferred 1,415 employees after the scam involving Rs 11,400 crore, using fake letters of undertakings (LoUs) to diamond jeweler Nirav Modi and associates, surfaced earlier this month. “…the Bank has transferred 257 sub-staff, 437 clerks and 721 officers (total 1,415 employees) since February 19, 2018, as per prevailing Rotational Transfer Policy of the Bank,” PNB said in a statement. It, however, denied reports that the bank has transferred close to 18,000 employees saying it is “factually incorrect”.


Nirav Modi fails to keep ED date, agency issues fresh summons

A fresh summons was issued against diamantaire Nirav Modi after he failed to appear and depose before the Enforcement Directorate (ED), sources told PTI. They added that Modi had replied to the ED’s investigating officer (IO), who is probing the role of the diamond merchant and his uncle Mehul Choksi, the promoter of Gitanjali Gems, in the Rs 11,400-crore alleged fraud at the Punjab National Bank (PNB), and cited the temporary suspension of his passport and pending business issues as reasons for his non-appearance.

Modi was summoned by the ED under the Prevention of Money Laundering Act (PMLA). Sources said he had now been asked to join the investigation and appear before the central probe agency in Mumbai on February 26. Modi, it is understood, had sent an e-mail to the ED, stating that while his passport was temporarily suspended, he was also dealing with the recent developments and investigations, pertaining to the alleged bank fraud, against his businesses in the country and hence, he was unable to depose before the agency.

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Commodity Tips-Gold prices flat, U.S. interest rate outlook weighs

Gold prices held steady around a one-week low on Thursday, weighed down by minutes from the last U.S. Federal Reserve meeting that showed policymakers backed further interest rate rises.

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Commodity Tips-Gold prices flat, U.S. interest rate outlook weighs

Spot gold was almost unchanged at $1,323.95 an ounce at 0353 GMT, a day after it fell to its lowest in a week at 1,322.20. The precious metal has fallen 1.7 percent so far this week.

U.S. gold futures were down 0.5 percent at $1,325.8 per ounce.

The dollar index, which measures the greenback against a basket of currencies, was up 0.1 percent at 90.106.

The greenback, which has risen over a percent so far this week, traded near a one-week high as minutes of the Federal Reserve’s January meeting showed policymakers were more confident of the need to keep raising interest rates.

“The high-interest rate environment would be the key driver that would drive gold prices lower,” said OCBC analyst Barnabas Gan.

“Since gold remains a zero-yielding asset, higher interest rate environment could stimulate risk appetite and yield-chasing behavior,” said Gan, whose year-end outlook for gold is at $1,100.

The Fed’s rate-setting committee showed more confidence in the need to keep raising interest rates, with most believing that inflation would perk up.

That led investors to narrow the odds on faster hikes with a host of Fed fund futures hitting contract lows. Three rate rises are now almost fully priced in for this year, compared to two as recently as December.

However, some analysts said concerns about rising inflation may be tempered by caution due to the recent market volatility.

“The minutes were more balanced in my view as the recent uptick in volatility will have as much bearing on Fed policy decisions as the subtle rise in inflation,” said Stephen Innes, APAC trading head for OANDA.

Spot gold is expected to test a support at $1,316 per ounce, a break below which could cause a loss to the next support at $1,303, according to Reuters technical analyst, Wang Tao.

“The key level of $1,360 an ounce is likely to keep prices capped and act as a supply zone,” said Sugandha Sachdeva, vice president of metals, energy, and currency research at Religare Securities Ltd.

“As long as this is not taken out convincingly, gold prices may consolidate in near term, with major support in sight at $1,309 an ounce.”

Among other precious metals, silver fell 0.4 percent to $16.43 an ounce, while palladium was down 0.1 percent at $1,019.25 per ounce and platinum was up 0.2 percent at $989.40 after touching a more than one-week low of $983.

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Free Stock Cash Tips-Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rising in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions supported the upward trend in the domestic cardamom prices.

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Free Stock Cash Tips-Cardamom futures up on rising demand

At the MCX, cardamom futures for March 2018 contract was trading at Rs 1150 per kg, up by 0.01 per cent, after opening at Rs 1150, against a previous close of Rs 1149.90. It touched the intra-day high of Rs 1150.

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Free Stock Tips-Indian ADRs: Tata Motors, HDFC Bank, Wipro slip 2%

Indian ADRs ended lower on Wednesday. Tata Motors fell 2.27 percent and ICICI Bank was down 0.81 percent.

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Free Stock Tips-Indian ADRs: Tata Motors, HDFC Bank, Wipro slip 2%

Indian ADRs ended lower on Wednesday. In the IT space, Infosys gained 0.17 percent at USD 17.67 and Wipro shed 1.99 percent at USD 5.43.

In the banking space, ICICI Bank was down 0.81 percent at USD 9.85 and HDFC Bank declined 1.95 percent at USD 97.57.

In the other sectors, Tata Motors fell 2.27 percent at USD 27.97 and Dr Reddy’s Laboratories fell 1.44 percent at USD 33.56.

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Sensex rises over 100 pts; PNB loses 3%, Gitanjali falls 10%

Fortis Healthcare, Bhushan Steel, Amtek Auto, Kaya and JSW Energy gained 1-5 percent.

Market Update: Benchmark indices continued to trade higher, with the Sensex rising more than 100 points supported by private banks, technology, metals stocks.

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Sensex rises over 100 pts; PNB loses 3%, Gitanjali falls 10%

Tata Steel was among top Sensex gainers after CLSA bet big on the Indian steel industry, saying tightening demand-supply will aid stock performance. Macquarie too maintained outperform rating on the stock, saying the recent correction has made the risk-reward attractive.

PNB fell for the fifth consecutive session, falling another 3 percent after 3 new arrests were made in the fraud case. Gitanjali Gems was locked at another 10 percent lower circuit, taking a total loss to more than 56 percent in February so far.

10:37 am Buzzing: JSW Energy shares gained as much as 2.5 percent in morning on signing pact with Maharashtra government for setting up manufacturing unit for electric vehicles (EV) and energy storage systems in the state.

10:32 am Drug Patent: Suven Life Sciences announced that the grant of one product patent from India and one product patent from South Korea corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

These patents are valid through 2029 and 2033, respectively.

10:12 am Market Update: Benchmark indices extended gains with the BSE Sensex rising over 157 points and the Nifty recapturing the 10,400-level on buying by investors in metal, capital goods and IT stocks amid a mixed trend at other Asian markets.

The 30-share Sensex was up by 157.24 points, or 0.46 percent, to 33,931.90. The index had lost 522.81 points in the previous two sessions.

Overseas, Asian stocks were trading mixed as Treasury yields climbed back toward recent four-year highs. Chinese markets will reopen on Thursday, 22 February. US markets remained closed yesterday, in observance of Presidents Day.

9:59 am Buzzing: Kaya shares rallied as much as 5.5 percent intraday after Porinju’s Equity Intelligence picked up minor stake in the company.

Portfolio Management clients of Equity Intelligence India Private Limited and EQ India Fund, which are owned by ace investor Porinju Veliyath, acquired 13,350 shares (representing 0.1 percent of total paid-up equity) of the company, as per disclosure available on the exchange.

Shares were bought through open market transactions.

Kaya is a provider of skincare, haircare and beauty solutions in India and overseas markets.

9:52 am Market Update: Benchmark indices recouped early losses, with the Sensex rising more than 100 points led by private banks, technology, and metals stocks.

Market Update: Benchmark indices recouped early losses, with the Sensex rising more than 100 points led by private banks, technology, and metals stocks.

Nifty50 traded above 10,400 levels while all sectoral indices were trading in the green.

Nifty Metal was the biggest gainer among sectoral indices, rising 1.5 percent.

About two shares advanced for every share falling on the BSE.

9:45 am Rupee Trade: The rupee depreciated 21 paise to 64.42 against the US dollar at the interbank forex market today on increased demand for the greenback from importers and banks.

A strong dollar in overseas markets weighed on the Indian rupee, a currency dealer said.

On Friday, the rupee had ended 30 paise lower at 64.21 against the US dollar on rising global crude prices and worsening trade deficit.

On a net basis, foreign investors withdrew Rs 895.79 crore from stocks yesterday, according to provisional FPI data.

The dollar recovered from a 15-month low against the yen to trade at 106.75, up 0.15 percent for the day.

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Sensex slips 200 pts; all sectoral indices in the red, PSU Bank dips 2%

Natco Pharma, Jet Airways, SpiceJet, InterGlobe Aviation, GVK Power, Jai Corp and KPR Mills gained 0.5-4 percent.

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Sensex slips 200 pts; all sectoral indices in the red, PSU Bank dips 2%

Natco Pharma shares rallied as much as 6.4 percent after the Mekaguda facility received zero observations from the US health regulator.

“….announce the successful completion of regulatory inspection from the United States Food and Drug Administration (USFDA) for its active pharmaceutical ingredient (API) facility in Mekaguda Village, Hyderabad,” the pharma company said in its filing.

The inspection by USFDA was conducted during the period February 12-16, 2018.

“The regulatory audit resulted in zero observations (no form 483 issued),” Natco said.

Crude Oil Update: Oil prices extended gains to hit their highest level in nearly two weeks, buoyed as Asian shares joined a global recovery in equity markets and by worries over tensions in the Middle East.

Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, after border incidents in Syria brought the Middle East foes closer to direct confrontation.

US West Texas Intermediate crude for March delivery was up 86 cents, or 1.39 percent, at USD 62.54 a barrel, after earlier touching its highest since February 7.

London Brent crude was up 58 cents, or 0.89 percent, at USD 65.42, after rising more than 3 percent last week.

Market Update: Benchmark indices extended losses, with all sectoral indices trading in the red.

The 30-share BSE Sensex fell 203.24 points to 33,807.52 and the 50-share NSE Nifty declined 66.80 points to 10,385.50.

About three shares declined for every share rising on the BSE.

PSU Bank index was the biggest loser, falling 2 percent.

PNB fraud case: India’s state-run UCO Bank said it has USD 411.82 million in exposure to fraudulent transactions carried out at Punjab National Bank (PNB).

PNB, India’s second-largest state-run lender, said last Wednesday that it had detected fraudulent transactions worth USD 1.77 billion at a single Mumbai branch that had benefited “a few select account holders”, and that it had reported the matter to law enforcement agencies.

UCO Bank, in a filing to the Bombay Stock Exchange late on Saturday, said its Hong Kong branch granted loans against letters of credit issued by PNB and was “fully confident” of receiving payment from PNB.

The alleged fraud at PNB benefited billionaire jeweler, Nirav Modi and jewelry retailer Gitanjali.

9:48 am Order Win: The water & effluent treatment business of L&T Construction has secured EPC orders worth Rs 1,680 crore from Pune Municipal Corporation for ‘study, survey, investigation, assessment, design validation and revamping of the entire water supply system for Pune City.

“We are delighted to have bagged this very prestigious order which has the potential to be a game-changer in the realm of water infrastructure development,” said S Rajavel, Senior Vice President & Head – Water & Smart World Communication, L&T Construction.

The scope of the project includes supply, laying, testing and commissioning of water transmission pipelines, optical fiber cable ducts, construction of sumps & house service connections along with water audit, Non-Revenue Water Reduction, SCADA, bill reading & generation and other associated electromechanical & instrumentation works.

Buyback: KPR Mill scrip price gained nearly 6 percent ahead of a board meeting to consider share buyback this week.

“A meeting of the board of directors is scheduled to be held on February 22 to consider the proposal for buy-back of the fully paid-up equity shares,” the textile company said in its filing.

Buzzing: Shares of Bhushan Steel hit 20 percent upper circuit on Monday as investors cheered developments surrounding its takeover bid.

Tata Steel emerged as the highest bidder for Bhushan Steel with a surprise bid of Rs 35,000 crore. JSW Steel, which was the favorite until the end of the race, was second placed with a bid of Rs 29,700 crore. Tata Steel’s stock fell around 5 percent intraday.

A senior bank executive aware of the development confirmed the allotment to Tata Steel and the bid amount.

9:21 am Navi Mumbai Airport: The City Industrial Development Corporation (Cidco), the nodal agency of Maharashtra government implementing the Navi Mumbai International Airport has set a stiff deadline of December 2019 for developer GVK Power & Infrastructure (GVK) to operationalize the first phase of the project.

As part of the first phase – Cidco expects the developer GVK Power & Infrastructure (GVK) to make one runway and a terminal building operational with a capacity to handle 10 million passengers by end of next year.

“It’s achievable,” said Bhushan Gagrani, Vice Chairman and Managing Director of Cidco referring to the first phase deadline.

Gagrani said the company will be handing over the land to GVK in 6-8 months. “We took possession of 98 percent of the land,” said Gagrani.

9:15 am Market Check: The market started off the week on a negative note, with the Nifty and Nifty Bank trading well below its Friday’s low due to further correction in PSU banks.

The 30-share BSE Sensex was down 117.30 points at 33,893.46 and the 50-share NSE Nifty fell 45.10 points to 10,407.20.

PSU Bank index fell over 1 percent. UCO Bank, Union Bank of India, Allahabad Bank, PNB and City Union Bank declined 3-10 percent on PNB fraud case.

Natco Pharma, Jet Airways, SpiceJet, InterGlobe Aviation, GVK Power, Jai Corp and KPR Mills gained 0.5-4 percent.,/p>

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Wall Street Rebounds but posts Worst week in Two Years

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The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

US stocks ended a wild week with a burst of buying, pushing the S&P 500 up 1.5 percent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

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The sharp falls of the week confirmed the market was in a correction, down more than 10 percent from a Jan. 26 record high, and throwing the nearly nine-year bull market off course. The newly volatile market was shaken in part by rising bond yields, which led stock investors to rethink their positions after months of steady gains.

The S&P 500 ended the week nearly 9 percent below the all-time high set just two weeks ago.

On Friday alone, the S&P 500 swung from gains of up to 2.2 percent to declines of 1.9 percent, echoing the big swings of the past week. The Dow moved in a range of more than 1,000 points, a more modest change than on Monday when the Dow fell as much as nearly 1,600 points.

The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

The technology was the best-performing group on Friday, with Microsoft Corp, Alphabet Inc and Facebook Inc giving the biggest individual boosts to the S&P 500. The energy was the lone major S&P sector to end negative as oil prices tumbled.

The benchmark S&P 500 fell 5.2 percent for the week, its biggest weekly percentage drop since January 2016. For the week, the sector that got hammered the most was energy.

Ninety-six S&P 500 stocks are down 20 percent or more from their own one-year highs.

The sharp selloff in recent days was kicked off by concerns over rising inflation and bond yields, sparked by last week’s January US jobs report.

Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels.

The yield on benchmark 10-year US Treasuries hovered around 2.85 percent after touching a four-year peak of 2.885 percent on Monday.

US fund investors sucked USD 23.9 billion out of the stock market in the latest week, marking the largest withdrawals from those funds on record, but bulls were still encouraged by strength in the global economy and solid US corporate earnings.

Also, the percentage of Main Street investors expecting stocks to fall reached a three-month high in the American Association of Individual Investors’ weekly survey.

During Friday’s session, the S&P 500 briefly broke below its 200-day moving average, a closely watched technical level, before rising.

The S&P 500 lost USD 2.49 trillion in market value from Jan. 26 through Thursday, according to S&P Dow Jones Indices.

Volatility remained high compared to recent months. The market’s main gauge of volatility, the CBOE Volatility Index, fell 4.4 to 29.06 on Friday but was still nearly three times the average level of the past year.

In the latest day of strong trading volume, about 12 billion shares changed hands in US exchanges on Friday, well above the 8.5 billion daily average over the last 20 sessions. It was the first time weekly volume eclipsed 50 billion since August 2015.

Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favored advancers.

The S&P 500 posted no new 52-week highs and 47 new lows; the Nasdaq Composite recorded 17 new highs and 208 new lows.


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Sensex rebounds 200 pts, Nifty above 10,500; SBI falls 4%, BOB up 4%

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NALCO, Oil India, Bata India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.

L&T shares gained more than 1 percent in the morning as its subsidiary L&T Hydrocarbon Engineering has signed a major field development EPC contract with Al Dhafra Petroleum Operations Company Limited, Abu Dhabi, UAE, with a value in excess of Rs 2,200 crore.

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Al Dhafra Petroleum is a joint venture between ADNOC and Korea National Oil Corporation (KNOC) and GS Energy, which is represented by Korean Abu Dhabi Oil Consortium (KADOC).

The scope of the contract includes engineering, procurement, construction & commissioning of flow lines, gathering facilities & pipelines to transfer crude oil & gas from Haliba fields to a processing facility at Asab and installation of 132 kV and 33 kV overhead electrical transmission lines to supply power.

Leading EPC player Reliance Infrastructure has bagged a Rs 567 crore order from the state-run power major National Thermal Power Corporation (NTPC) to build a flue gas Desulphurisation (FGD) plant at its 1500 MW (3 x 500 MW) power plant at Jhajjar in Haryana.

The scope of the work includes design, engineering, manufacture, erection and civil work, as well as testing and commissioning of the FGD system.

The Anil Ambani-run company’s EPC division had earlier emerged as L1 bidder amidst competition against leading EPC players including BHEL, L&T, and Mitsubishi Hitachi Power system.

The overall schedule for the project is 20 months from the date of the letter and will of approval being delivered for the first unit, with three months additional time each for the two subsequent units, the company said in a statement today.

Shares of Capacity Infraprojects gained 4 percent in the early trade on orders worth Rs 247.46 crore.

The orders include Tower -2 of a project at Hindustan Mills, Prabhadevi, MMR for client Twenty Five South Realty, The Wadhwa Group, worth Rs 156.46 crore.

The Tower – 1 of this project is already under execution by the company.

The second order is from Kalpataru Group of Rs 90.80 crore. This is the second order received from Kalpataru Group.

9:15 am Market Check: Benchmark indices, as well as broader markets, opened the truncated week sharply higher on Monday, driven by bargain hunting after sell-off last week.

The 30-share BSE Sensex was up 212.02 points at 34,217.78 and the 50-share NSE Nifty gained 69.10 points at 10,524.10.

About five shares advanced for every share falling on the BSE.

The nifty Midcap index was up over a percent.

NALCO, Oil India, Bata India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.

Manappuram Finance, Ashok Leyland, Cadila Healthcare and Capacity Infraprojects gained 2-5 percent. Suzlon Energy fell 3 percent.


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