Indian Markets bounced back on Thursday with NSE Nifty strongly over 5000 mark and BSE Sensex nearly a per cent higher at 16635.
Gold was trading at 28,440 per 10 grams while Silver was nearly a per cent down at 54,700.
In today’s trading session, IDFC was up by 5% at Rs 121. Cairn India was trading higher by 3.9% at Rs 320. BHEL and Kotak Mahindra Bank were also among major gainers.
After yesterday’s rally, pharmaceutical major Ranbaxy Labs was trading lower today. PNB was also trading lower. Among other losers were auto major Maruti Suzuki and technology leader Infosys Technologies.
Indian markets are expected to close positive today. Among sectoral indices, BSE Auto was up by 101 points. Capital Goods and BSE Metals indices were also trading with decent gains.
According to senior company representative, engineering giant BHEL is planning to establish a manufacturing plant in Latur in the state of Maharashtra.
Executive Director of BHEL (Tiruchy complex) AV Krishnan stated, “The Maharashtra government has evinced interest to offer adequate land for the project. The product would be something allied to thermal power generation.”
Mr. Krishnan also said that the company board was yet to settle on the precise product variety, mass and investment for the novel project that he showed would fall under the influence of BHEL.
BHEL complex consists of high pressure boiler facility and seamless steel tube facility in Tiruchirappalli, piping centre in the state of Chennai and industrial valve facility at Goindwal in Punjab.
In addition, the construction plant in the state of Maharashtra, talks were going on with Maharashtra Power Generation Corporation to set up a 660 mw thermal power station in the state.
BHEL is also making plans to establish a two mw solar power generating facility in its complex with a total investment of Rs 17 crore.
“A detailed project report had been submitted to the BHEL Board for the formal approval,” he said, adding it would become functional in a time period of 11 months once the panel gave its green signal.