PGCIL is facing challenges because of the new rules which call for competitive bidding. Earlier, the government used to hand projects on a platter to PGCIL. The change in rules is hurting PGCIL.
State-run power equipment maker BHEL today said it has bagged an order worth Rs 350 crore for setting up two 765 kV substations in West Bengal.
Power Grid's Q2 earnings came bang in line with estimates with a mild surprise on margins despite higher employee costs. In an interview to CNBC-TV18's Yash Jain, IS Jha, CMD, Power Grid spoke about the results and his outlook for the company.
Net Sales are expected to increase by 15 percent Y-o-Y (up 0.2 percent Q-o-Q) to Rs. 7193.1 crore, according to Edelweiss.
Nifty on Tuesday was trading in the green up 22.85 points at 10, 012 led by Reliance Industries, Infosys and Lupin which were among the top gainers, up 1.58 percent, 1.34 percent and 2.29 percent respectively.
Reliance Industries and Infosys were among the top gainers, up 1.73 percent and 1.36 percent respectively, apart from stocks like Lupin, UPL and Power Grid which gained up to 2.3 percent. In the Nifty50, the advance-decline ratio was in favour of the advances with 29 stocks advancing and 20 stocks declining.
Punjab, Haryana, Uttar Pradesh, Rajasthan and adjoining areas are expected to benefit from operationalisation of the second pole of the high voltage direct current (HVDC) power transmission link.
The RSI at 62 indicates a favorable buying regime coupled with continued uptrend momentum depicted by MACD at 52 above its Signal Line. Based on Fibonacci retracement a major support will be seen at 9807 and resistance level will be at 10137.
Sanjiv Bhasin of IIFL is of the view that one can pick Reliance Power, Power Grid and NTPC and is overweight on Coal India.
Ashwani Gujral of ashwanigujral.com recommends buying Future Lifestyle, Container Corporation of India, Sun TV, Delta Corp and IIFL Holdings.
The state-run power transmission utility said it will get a loan of USD 500 million from the Asian Development Bank for its various projects.
Largecaps playing catch-up after years of underperformance as the economy looks on strong footing.
"Upcoming RBI's monetary policy and ongoing June 2017 quarter earnings will drive the market sentiment this week," said Vijay Singhania, Founder-Director, Trade Smart Online.
According to Amit Gupta of ICICIdirect, one can buy Union Bank of India, Power Grid, Bosch and Adani Ports.
The market is now clearly momentum-driven. When such a market assumes center stage, focusing on upside targets is not advisable.
Yogesh Mehta of Motilal Oswal suggests buying Hindustan Unilever, UltraTech Cement and Power Grid.
Amit Gupta of ICICIdirect suggests buying Call options in NTPC and Power Grid Corporation.
According to Manoj Murlidharan of Religare Securities, one can buy Power Grid, Ambuja Cements and Hexaware Technologies.
Amit Gupta of ICICIdirect suggests buying Nestle, Colgate Palmolive, Shriram Transport Finance and Power Grid.
The level of 9,700-9,720 will be the immediate resistance above which uptrend would confirm and the market will remain upside for over short to medium term.
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy Tata Elxsi and Power Grid.
Some quality names in IT and pharma are available at appealing valuations which are attracting smart money into these stocks.
Any dip towards 9,530 levels will be good buying opportunity while breaking above 9,710 levels will lead in strong short covering.
Amit Gupta of ICICIdirect is of the view that one may buy Power Grid and Adani Ports.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy HDFC, Shankara Build and Chambal Fertilisers and can sell Andhra Bank.