Power Mech Projects Ltd. saw its share price move significantly on Tuesday following the announcement of a substantial order worth Rs 164.63 crore from Bharat Heavy Electricals Ltd.
India's benchmark equity market index NSE Nifty has new inclusions, as Jio Financial Services Ltd. and Zomato Ltd. have been added to it, news agency Bloomberg reported. Bharat Petroleum Corp. and Britannia Industries have been excluded from the index.
BHEL shares: The scrip traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 35.27.
BHEL shares slipped 1.70% to Rs 199.45 on Tuesday against the previous close of Rs 202.90 on BSE. Market cap of the power equipment maker slipped to Rs 69,449 crore.
Bharat Heavy Electricals Ltd., has received a letter of intent for an order worth Rs 6,200 crore from Damodar Valley Corp. for a steam generator island for the Raghunathpur thermal power project in West Bengal. The company has received a letter of intent for the steam generator island package for the 2x660 MW Raghunathpur thermal power station phase-II project in Purulia district, according to exchange filing on Tuesday.
BHEL received a Letter of Intent from Rajasthan Part I Power Transmission for the BF800 HVDC project and an Rs 8,000 crore order from Mahagenco for a thermal power station project. The HVDC project will transmit renewable energy and should be completed by 2030.
Stocks including UltraTech, Info Edge, Cummins, Swiggy, Ola Electric, Emcure Pharma, Azad Engineering, Solar Industries and more will be in the spotlight on Thursday, February 06.
PSU stocks such as Chennai Petroleum Corporation Ltd (CPCL), Mangalore Refinery and Petrochemicals Ltd (MRPL), Cochin Shipyard Ltd, MMTC Ltd, ITI Ltd and Oil India Ltd have led the losers, falling 47-59 per cent.
V Narayanan has been appointed as the chairman of ISRO, succeeding S Somanath. Narayanan, an alumnus of IIT Kharagpur, previously served as the director of ISRO's Liquid Propulsion Systems Centre (LPSC). He is recognized for his pioneering contributions to India's space programme, including work on cryogenic technology and lunar missions.
The design dispute over Vande Bharat sleeper trains, worth Rs 55,000 crore, has been settled. Indian Railways will proceed with the original design of three toilets per coach and no pantry car. The first prototype is expected next year. Contracts have been awarded to multiple firms for producing the sleeper coaches.
Hitachi Energy's flagship symposium in New Delhi was not just a gathering of key stakeholders, but also a showcase of breakthrough technologies and insightful sessions on policy reform, digital innovation, and grid interconnections. The company has pledged further investment in the Indian market.
BHEL stock slipped 1.25% to Rs 222.05 on Wednesday against the previous close of Rs 224.85 on BSE. Total 4.77 lakh shares of the firm changed hands amounting to a turnover of Rs 10.54 crore.
Indian Railways is set to launch its first train service between Jammu and Kashmir. The Jammu-Srinagar Vande Bharat Express will run from Katra to the valley. This became possible after completing the challenging Udhampur-Srinagar-Baramulla Rail Link. Designs for Vande Sleeper trains are finalized, with production starting in 2025.
AMFI rejig: Stocks that have been excluded from the largecap list included Adani Total Gas, IDBI Bank Ltd, Shree Cement Ltd, Union Bank of India Ltd and BHEL.
Vodafone and 26 other stocks are exiting the Nifty 500 index while Trent and Bharat Electronics joined the Nifty 50, from which LTI Mindtree and Divi's Laboratories exited. Effective from September 30, 2024, these changes will come into effected.