Metal stocks were trading in the positive zone, with the S&P BSE Metal index rising 223.74 points or 1.56% at 14574.35 at 09:48 IST. Among the components of the S&P BSE Metal index, JSW Steel Ltd (up 3.21%), Steel Authority of India Ltd (up 2.66%),Hindustan Zinc Ltd (up 2.31%),Jindal Steel & Power Ltd (up 2.3%),National Aluminium Company Ltd (up 1.76%), were the top gainers. Among the other gainers were Tata Steel Ltd (up 1.5%), Hindalco Industries Ltd (up 1.45%), Coal India Ltd (up 0.84%), NMDC Ltd (up 0.44%), and Vedanta Ltd (up 0.33%).
At 09:48 IST, the S&P BSE Sensex was up 241.82 or 0.49% at 49750.97.
The Nifty 50 index was up 84.25 points or 0.57% at 14774.95.
Sunteck Realty spurted 4.34% to Rs 291 after the company said it has secured a 7 acre land parcel at Borivali (West), Mumbai to develop a luxury residential project.Acquired under the asset light Joint Development Agreement ( JDA ) model, the residential project in the western suburbs of the city is spread across 7 acres and will have approximately 1 mn sq. ft of development potential. It is expected to generate a project top line of around Rs 1,750 crore over the next 4-5 years further strengthening the cash flow and the balance sheet of the company.
Commenting on the latest acquisition, Kamal Khetan, the chairman of Sunteck Realty, said: We are pleased to have entered this joint venture. Given the land parcel is overlooking the sea, this development shall provide an opportunity to curate a unique and world class residential product consistent with the Sunteck brand. We shall bring in our best in class construction and development capabilities of luxury living. Our endeavor is to
Indraprastha Gas (IGL) advanced 3.01% to Rs 526.20 after the company signed an agreement with Delhi Transport Corporation (DTC) for long term supply of compressed natural gas (CNG).
The CNG distribution company signed a long-term gas supply agreement with DTC to supply CNG for a period of ten years till December 2030.
DTC is the largest CNG-powered bus service operator in the world with a fleet size of 3762 buses at present and is also in the process for procurement of 1000 new CNG buses which would shortly be plying on the roads of the national capital.
It consumes around 2.80 lakhs kgs of CNG per day for its buses which constitutes around 11% of daily CNG sale of IGL. The consumption of CNG is expected to increase further after the addition of new buses.
Jindal Steel & Power Ltd is quoting at Rs 365.2, up 6.29% on the day as on 12:44 IST on the NSE. The stock is up 478.31% in last one year as compared to a 82.41% gain in NIFTY and a 172.43% gain in the Nifty Metal.
Jindal Steel & Power Ltd rose for a fifth straight session today. The stock is quoting at Rs 365.2, up 6.29% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.37% on the day, quoting at 14745.7. The Sensex is at 49581.27, up 0.15%. Jindal Steel & Power Ltd has added around 7.95% in last one month.
Meanwhile, Nifty Metal index of which Jindal Steel & Power Ltd is a constituent, has added around 5.63% in last one month and is currently quoting at 3977.2, up 4.32% on the day. The volume in the stock stood at 92.26 lakh shares today, compared to the daily average of 84.3 lakh shares in last one month.
Tata Steel Ltd is quoting at Rs 848.8, up 4.55% on the day as on 12:44 IST on the NSE. The stock is up 234.5% in last one year as compared to a 82.41% spurt in NIFTY and a 172.43% spurt in the Nifty Metal.
Tata Steel Ltd gained for a fifth straight session today. The stock is quoting at Rs 848.8, up 4.55% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.37% on the day, quoting at 14745.7. The Sensex is at 49581.27, up 0.15%. Tata Steel Ltd has risen around 15.4% in last one month.
Meanwhile, Nifty Metal index of which Tata Steel Ltd is a constituent, has risen around 5.63% in last one month and is currently quoting at 3977.2, up 4.32% on the day. The volume in the stock stood at 235.86 lakh shares today, compared to the daily average of 203.06 lakh shares in last one month.