Indian markets finish strong

Wed, 1 Jul Closing

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Indian stock markets traded firm throughout the day and finally finished the day on a strong positive note. The BSE-Sensex ended higher by 240 points, while NSE-Nifty closed higher by 85 points. The BSE Mid Cap and BSE Small Cap indices also piled up the gains as they inched higher by 1.3% and 1.5% respectively. Gains were seen all across the board, with capital goods and power sectors leading the gains. However, FMCG stocks ended the day with minor losses.

Markets across Europe made their first tentative gains in days following the standoff over Greek crisis. Meanwhile, Asian markets finished on a mixed note. Chinese stocks tumbled again as Shanghai Composite lost 5.3%. The rupee was trading at Rs 63.59 against the US dollar at the time of writing.

According to a leading financial daily, Bharat Heavy Electricals (BHEL) has successfully commissioned the 500 MW Kosti Thermal Power Station (TPS) in Sudan. Significantly, Kosti TPS (4x125 MW) is now Sudan's largest Power Plant. The company has executed this project on Engineering, Procurement and Construction basis, having designed, manufactured, supplied and installed the complete power project (4 units of 125 MW each) including associated civil works. All the major equipment for the project viz. boilers, steam-turbines, generators, Controls & Instrumentation, transformers, etc., have been manufactured in-house. The company has also constructed a canal from the White Nile River to supply water for the project. The project is funded by Government of India's Line of Credit of US$ 350 m. It is to be noted that Kosti TPS is BHEL's largest oil-fired thermal power plant in the overseas market. It is also BHEL's first crude-oil fired thermal power plant in Africa and comes close on the heels of the successful completion of BHEL's 28 MW Nyaborango Hydro project in Rwanda which was recently inaugurated by the President of Rwanda.

Shares of Eicher Motors surged and ended the trading day on an optimistic note (up 3.9%) after the company's motorcycle division Royal Enfield reported a 48% jump in total sales in June at 37,341 units, as against 25,303 units in the same month last year. During June 2015, the number of motorcycle units exports declined by 5% to 744 units as against 784 units in June 2014. The company's sales of vehicles with engine capacity up to 350cc increased 50% at 33,048 units against 22,073 units in the same period a year ago, while the sales of its vehicles with engine capacity exceeding 350cc increased by 33% at 4,293 units as against 3,230 units in June last year.