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SJVN to build 679-MW hydro plant in Nepal

SJVN to build 679-MW hydro plant in Nepal FE Bureau © Provided by The Financial Express The Arun 3 plant is the largest project in Nepal entailing an investment of around Rs  7,000 crore made jointly by India and Nepal. (Representational image) State-run Satluj Jal Vidyut Nigam (SJVN) has signed a memorandum of understanding with the Investment Board of Nepal to build the 679 mega-watt (MW) Lower Arun Hydro Electric Project in the neighbouring country. SJVN won the project through competitive bidding after defeating other companies in the auction. The project is scheduled to be completed in four years after commencement of construction, and has been allocated to SJVN for 25 years on build-own-operate-transfer basis.

Market Ahead Podcast, July 12: Top factors that could guide markets today

Investors on Dalal Street will take cues from earnings announcements, macroeconomic data, and global trends this week, said analysts. Besides, monsoon progress and updates on the new Covid variant will be closely monitored by them. After a volatile last week, wherein markets traded within a range and closed marginally lower, analysts see further consolidation ahead and expect volatility to inch higher on the stock-specific front as well with the beginning of the earnings season. Leading IT companies Infosys and Wipro and other players such as Mindtree, Tata Elxsi and HDFC AMC are among 75 companies that will announce their financial results this week. Apart from these, some other names include Dodla Dairy, L&T Finance Holdings, Steel Strips Wheels, Angel Broking and Den Networks.

Stocks to watch: Avenue Supermarts, Adani Ports, IRCTC, SJVN, Federal Bank

Here are the top stocks that are likely to be in focus today: Results Today: A total of 11 companies, including HFCL, Steel Strips Wheels, Dr Lalchandani Labs and Welcure Drugs & Pharmaceuticals will release quarterly earnings today. Avenue Supermarts: The owner of retail chain DMart on Saturday reported over two-fold jump in consolidated net profit at Rs 95.36 crore for June quarter 2021-22. The company had posted a net profit of Rs 40.08 crore in April-June period a year ago. Equitas SFB: Equitas Holdings, the promoter of Equitas Small Finance Bank (SFB), on Saturday said the bank has received Reserve Bank of India s (RBI) nod to apply for amalgamation of the promoter into itself.

Nepal signs pact with SJVN

Nepal signs pact with SJVN 12 Jul 2021, 13:03 GMT+10 Kathmandu [Nepal], July 12 (ANI): Nepal Investment Board has said it has signed a pact with India s state-owned SJVN Ltd to develop the 679-megawatt (MW) Lower Arun Hydro Electric Project in eastern Nepal. In a statement on Sunday, the National Investment Board of the Himalayan Nation announced that the pact was signed with India s state-owned Satluj Jal Vidyut Nigam (SJVN) which is the second mega project undertaken by Southern neighbour. The memorandum of understanding MoU was signed by SJVNL Chairman and Managing Director Nand Lal Sharma and IBN Chief Executive Officer Sushil Bhatta. Second, after the Arun-3 hydropower project, the Lower Arun Hydel project is expected to cost around 1.3 billion dollars, the single biggest foreign investment project, as per 2017 cost estimates.

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