Stock Market LIVE: Indices to start on a cautious note; SGX Nifty trades flat

Adani Power begins electricity supply from Godda plant to Bangladesh

Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh.

Adani Power Ltd (APL), a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The plant has started with supplying 748 MW of power to Bangladesh, a company statement said.

The electricity supplied from Godda will significantly improve the situation in the neighbouring country as it will replace expensive power generated from liquid fuel, bringing down the average cost of power purchased, it stated.

“The Godda Power Plant is a strategic asset in the India-Bangladesh’s long-standing relationship,” said S B Khyalia, CEO of Adani Power, in the statement.

It is the first power plant in the country, which has started its operations from Day One with 100 per cent Flue Gas Desulphurization (FGD), SCR and Zero Water Discharge, it stated. (PTI)

Larsen and Toubro Ltd, Afcons Infrastructure Ltd and JSW Infrastructure Ltd are among companies competing to build Container Terminal in Great Nicobar

Larsen and Toubro Ltd, Afcons Infrastructure Ltd and JSW Infrastructure Ltd are among companies competing to build the ₹42,000 crore-International Container Transshipment Terminal in Great Nicobar, two people aware of the development said, even as the project faces environmental hurdles.

On Saturday, the National Green Tribunal stayed the ₹72,000 crore Great Nicobar Development Plan, which includes the transhipment hub. The project has faced opposition from environmentalists over potential damage to flora and fauna in the ecologically sensitive region. However, the government is keen to develop the mega terminal in a public-private partnership (PPP). (Read More)

TCS, Infosys, HDFC Bank are 3 major quarter four results to watch out this week

Three major companies will be in focus in the holiday-shortened week of stock exchanges ahead of their Q4 results for FY23. These are among the top five most valued firms namely Tata Consultancy Services (TCS), Infosys, and HDFC Bank. The IT and banking sectors will witness flows from investors amidst their quarterly financial performance. Since these three firms are the top heavyweights in their respective segments, Buy and Sell can be seen accordingly in other related stocks. Other companies will follow suit in announcing their Q4 results.

The fourth quarterly results of FY23 are for the three-month period between January to March 2023. (Read More)

Buy or sell: Vaishali Parekh recommends 3 stocks to buy today

Vaishali Parekh of Prabhudas Lilladher has recommended three day trading stocks for today, here we list out full details in regard to those intraday stocks:

1] REC: Buy at ₹118.75, target ₹122, stop loss ₹117;

2] Voltas: Buy at ₹830, target ₹857, stop loss ₹818; and

3] M&M: Buy at ₹1171, target ₹1205, stop loss ₹1154. (Read More)

Tata Motors Group shurgs off global woes, wholesales vehicle business up 8%

Tata Motors Ltd. has recorded an 8% increase in its global wholesale vehicle sales business in the March quarter of FY2023, even as car business, globally, is witnessing a lackadaisical phase in the wake of rising loan rates and the consequent weakening purchasing power among customers.

In an exchange filing, Tata Motors said its vehicle sales for the January-March period reached 3,61,361 units compared to 3,34,884 units in the same period of the previous fiscal, including sales of its luxury brand vehicles under Jaguar Land Rover. (Read More)

Wall Street stocks end higher on Thursday as investors eye upcoming jobs data; Alphabet rallies

Major U.S. stock indexes ended higher on Thursday, helped by a rally in Alphabet shares as investors, worried about a slowing economy, looked to upcoming jobs data.

Alphabet Inc rallied 3.8% and Microsoft climbed 2.6%, with both providing more fuel than any other stocks for the S&P 500’s gain for the session. Alphabet’s Google unit plans to add artificial intelligence features to its search engine, the Wall Street Journal reported.

Adding to recent data hinting at a weak labor market, initial jobless claims fell to a seasonally adjusted 228,000 for the week ended April 1, versus expectations of 200,000 claims.

The Labor Department’s data from the prior week was revised to show 48,000 more applications were received.

The S&P 500 climbed 0.36% to end the session at 4,105.02 points.

The Nasdaq gained 0.76% to 12,087.96 points, while the Dow Jones Industrial Average rose 0.01% to 33,485.29 points.

Wall Street has lost ground in recent days in response to signs of a slowing economy, including weak data on private payrolls and job openings earlier this week.

That marked a change from recent months, when investors cheered weak economic data on the basis that it might mean the Fed’s interest rate hikes were working and that the Fed could ease up on its campaign to rein in decades-high inflation. (Reuters)