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Metal & realty in limelight
Thu, 24 Jul 01:30 pm

Indian share markets continued to trade below the dotted line in the post-noon trading session. Sectoral indices are trading mixed with metal and realty stocks being the biggest gainers whereas consumer durables and oil and gas stocks are the major losers.

BSE-Sensex is down 16 points and NSE-Nifty is trading 9 points down. BSE Mid Cap is trading marginally up and BSE Small Cap index is trading up by 0.3%. The rupee is trading at 60.05 to the US dollar.

Power stocks are trading mixed with Torrent Power and Nevyeli Lignite being the major gainers whereas GVK power and Jaiprakash Power are trading in the red. As per a leading financial daily, Tata Power generated 24% higher power output in FY14 at 45,210 million units. The company's total power generation capacity from different fuel sources such as thermal, hydroelectric power, renewable energy and waste heat recovery add up to 8,613 MW. Thermal capacity accounts for a lion's share of more than 80% of overall capacity. Among renewable energy sources, Tata Power's operational capacity stands at 461 MW in wind farms, 54 MW in solar, 447 MW in hydro and 240 MW in waste gas-based generation. By 2022, the company wants to generate 18,000 MW of electricity as well as an additional 4,000 MW of management of distribution networks. Tata Power's stock is presently trading up by 0.4%.

Most of the energy stocks are trading in the red. Losers are being led by Cairn India and Gas Authority of India (GAIL), whereas few stocks like Petronet LNG and BPCL are trading higher. As per a leading business daily, Cairn India plans to step up its exploration programme in a bid to augment its reserves from oil and oil equivalent gas to 7 billion barrels from the earlier estimate of 4.6 bn barrels. As per the company, gas will play an important role in the company's growth going forward as it plans to double its gas output. Also in order to augment and optimize the output the company is planning to deploy innovative technologies. The company is planning to invest USD 200 m over the next three years for developing one of its gas fields and associated infrastructure including gas pipeline. Cairn is trading lower by 6% today.

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