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NEW DELHI: Nifty opened gap down on Thursday, but made a rebound from the initial hiccup and saw substantial buying. The index formed a bullish candle. The headline index formed a Piercing Pattern in the two-day candlestick pattern, which suggests a possible short-term trend reversal.
Chandan Taparia of Motilal Oswal Securities said, Nifty needs to decisively hold above 14,400 level to witness a bounce towards 14,600 and 14,700 levels, while on the downside, support exists at 14,250 and 14,150 levels. The market has been going through a correction phase following increasing Covid-19 cases despite the optimism about the vaccination drive. Though the earnings outcome is expected to trigger stock-specific movements in the coming days, the broader movement in the market will depend on fall in Covid cases, said Vinod Nair, Head - Research, Geojit Financial Services.
Borosil Renewables Limited to expand capacity of solar glass production
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Board of Borosil Renewables approves capital outlay of Rs 1000 cr
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Updated Apr 08, 2021 | 13:41 IST
Borosil Renewables, in an interview to ET NOW hailed the scheme and said it would impact the industry in a positive manner. Representational picture | Image courtesy: LinkedIn
Key Highlights
Govt. to give output-linked incentive for solar PV modules
The Ministry of New and Renewable Energy s proposal for the implementation of PLI (Production Linked Incentive) Scheme National Programme on High-Efficiency Solar PV (Photovoltaic) Modules was approved by the Union Cabinet on Wednesday (7 April). The scheme has an outlay of around Rs 4,500 crore, with which the scheme aims to achieve manufacturing capacity of Giga Watt (GW) scale in high-efficiency solar PV modules. This scheme is estimated to create an additional 10,000 MW capacity of integrated solar PV manufacturing plants with an investment of around Rs.17,200 crore.