The key equity benchmarks traded with minor gains in morning trade. Metal stocks rose for seventh day. The Nifty hovered near the 14,700 mark.
At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 130.63 points or 0.27% to 49,289.95. The Nifty 50 index added 53.60 points or 0.37% to 14,691.40.
In broader market, the S&P BSE Mid-Cap index gained 0.71% while the S&P BSE Small-Cap index rose 0.80%.
The market breadth was weak. On the BSE, 1644 shares rose and 778 shares fell. A total of 111 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 131,707,267 with 2,859,868 deaths.
India reported 788,223 active cases of COVID-19 infection and 165,547 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Nava Bharat Ventures announced the recent developments concerning the operations of the company and its subsidiaries as under:
I. The Company has engaged with the local Power Utility in Odisha and has been able to resolve the long pending metering and connectivity issue of the 60MW IPP in Odisha pending disposal of the legal case before the Hon ble High Court for final settlement. This paves way for operationalizing this 60 MW IPP, which remained idle for several years, over the next two month period.
2.
Further, the 150 MW IPP of 100% subsidiary, Nava Bharat Energy India, Telangana, which was shut down in FY 2021, has resumed power generation following improved merchant power market and is now exporting power through Power Exchange.
Coal production declined 3.8%Coal India announced the provisional production and offtake performance of the company and its subsidiaries for the month of March 2021 and for FY2021 as under:
Coal production stood at 81.2 million tons in March 2021 compared to 84.4 million tons in March 2020, recording a decline of 3.8%.
Coal production of 596.2 million tons was achieved for FY2021, compared to 602.1 million tons in FY2020, recording a decline of 1%.
Coal offtake stood at 59.7 million tons in March 2021 compared to 53.4 million tons in March 2020, recording a growth of 11.9%.
Coal offtake was 573.8 million tons during FY2021, compared to 581.4 million tons in FY2020, recording a decline of 1.3%.
Indices traded sideways with decent gains in morning trade. The Nifty hovered above the crucial 15,000 mark. Metal and PSU bank stocks saw selling pressure while IT stocks advanced. Shares rose on bargain hunting after yesterday s steep correction.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 295 points or 0.59% at 50,690.92. The Nifty 50 index gained 75.35 points or 0.5% at 15,004.
In broader market, the S&P BSE Mid-Cap index was up 0.4% while the S&P BSE Small-Cap index was gained 0.52%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1476 shares rose and 1008 shares fell. A total of 138 shares were unchanged.
Read more about Coal India Ltd stays weak on Business Standard. Coal India Ltd is quoting at Rs 145.15, down 1.19% on the day as on 13:19 IST on the NSE. The stock tumbled 0.51% in last one year as compared to a 66.58% rally in NIFTY and a 124.37% spurt in the Nifty Metal index.