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BHEL in limelight; Markets going rangebound holding early profits

September 8th, 2008

Monday, September 08, 2008 12:14:33 PM IST

BHEL which is into the construction business and is well known for its engineering know-how in the power sector is flourishing with lots of positive news. Meanwhile the Indian stock markets are continuing to hold the morning upward trend. Nifty is at 4511 up 3.65% while BSE Sensex is up at 15050 up by 566.34 points or 3.91%

Any positive news about the Indo-American Nuclear Deal is always taking the BHEL stock to a better positive levels. Sources say BHEL is working its numbers and is making a list of companies it will be working with for technical know-how and other related activities.

Meanwhile, the press is quoting that BHEL is planning a Rs. 1400 corre casting and forging facility. This venture will be a 50-50 JV with Heavy Engineering Corporation (HEC)

BHEL says the coal mines would last for 50 more years and it is high time for us to increase coal sources as well as shift to more efficient power solutions.

The BSE Power Index is up 5.3% at the moment. All 11 scripts in the index are in the green. Leading gainers in the power index include Reliance Infra, NTPC, Power Grid, RPower, Torent Power, BHEL amongst others.

Tata Communications zoomed in during the last hour trade or so. The script is trading at 455 levels on the Nifty and is up 6.92%

1 U.S. dollar = 44.4444 Indian Rupees
1 U.S. dollar = 108.1899 Japanese Yens
1 U.S. dollar = 0.6949 Euros
1 Ounce Gold = $814.00
1 Barrel Crude Oil = $107.98

Entry Filed under: Equity Markets, Power