Benchmark indices were in the green in pre-opening trade, following positive lead from global peers.
Bajaj Electricals surged nearly 7 percent after the engineering & project business unit of the company has bagged orders for ten rural/urban electrification projects.
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The company said the order worth Rs 3,577.93 crore was from Madhyanchal Vidyut Vitran Nigam Limited under the Saubhagya Yojna of Government of India in Uttar Pradesh.
The scope of work includes work of rural/urban electrification and related work on turnkey basis under the Saubhagya Yojna of Government of India.
These projects will be completed within 15 months from the date of issue of letter of intent, the company said.
China's economic growth held steady at 6.8 percent over a year earlier in the quarter ending in March, buoyed by retail sales and investment.
Data released today showed growth in the world's second-largest economy was down slightly from 2017's full-year expansion of 6.9 per cent but in line with the quarter ending in December.
These projects will be completed within 15 months from the date of issue of letter of intent, the company said.
China's economic growth held steady at 6.8 percent over a year earlier in the quarter ending in March, buoyed by retail sales and investment.
Data released today showed growth in the world's second-largest economy was down slightly from 2017's full-year expansion of 6.9 per cent but in line with the quarter ending in December.
Rupee Trade: The rupee fell 4 paise to 65.53 against the dollar at the interbank forex market.
Yesterday, the rupee had fell by 29 paise, or 0.44 per cent, to close at a six-month low of 65.49 against the US currency on widening trade deficit concerns amid heightened geopolitical worries.
Yesterday, the rupee had fell by 29 paise, or 0.44 per cent, to close at a six-month low of 65.49 against the US currency on widening trade deficit concerns amid heightened geopolitical worries.
Market Update: Benchmark indices erased opening gains amid consolidation, as investors digested normal monsoon forecast and look for corporate earnings.
The 30-share BSE Sensex was down 2.48 points at 34,302.95 and the 50-share NSE Nifty fell 2.20 points to 10,526.20.
About 917 shares advanced against 548 declining shares on the BSE.
The 30-share BSE Sensex was down 2.48 points at 34,302.95 and the 50-share NSE Nifty fell 2.20 points to 10,526.20.
About 917 shares advanced against 548 declining shares on the BSE.
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Long-Term Agreement: Adani Ports and Special Economic Zone (APSEZ) share price gained nearly a percent after it signed a long term agreement with Indian Oil Corporation (IOC) to provide liquefied natural gas (LNG) regasification services on a use or pay basis to the state-run refiner, at its upcoming LNG import terminal at Dhamra in Odisha.
As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity spread over 20 years. IOC plans to supply the gas to its refineries in Paradip in Odisha and Haldia in West Bengal.
As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity spread over 20 years. IOC plans to supply the gas to its refineries in Paradip in Odisha and Haldia in West Bengal.
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