On Tuesday, share markets in India opened on a flat note, remained rangebound and ended the day on a firm footing.
The BSE Sensex closed higher by 90 points to end the day above the 34,300 mark at 33,395. While the broader NSE Nifty ended the day higher by 20 points to end at 10,549.
Among BSE sectoral indices, power stocks. This was followed by realty stocks at 1.2% and FMCG stocks at 1.1%. Jet Airways and Indian Hotels were among the major gainers.
Top Stocks in Action Today
Bajaj Electrical is likely to be in focus today after it bagged orders worth Rs 35.8 billion for rural/urban electrification projects in Uttar Pradesh. The projects are from Madhyanchal Vidyut Vitran Nigam Limited under the Saubhagya Yojna of Government of India.
Gruh Finance is another stock to watch today after the housing finance subsidiary of HDFC reported a robust financial performance in the March 2018 quarter. Additionally, the housing finance entity recommended a bonus issue in the ratio of 1:1 and dividend of Rs 3.30 per share of face value of Rs 2 for the year ended 31 March 2018.
Spotlight on the Natural Gas Economy
To reduce its carbon footprint, the Indian government is targeting to increase the share of natural gas in the primary energy-mix from the present level of 6% to 15% by 2030. Therefore, to ease the gas supply, the thrust has been on raising production of gas as well as import of Liquified Natural Gas (LNG), completion of the national pipeline grid and faster roll-out of the city gas distribution network in the country.
Further, the government is also planning to launch a Gas Trading Hub/Exchange (GTHE) to boost the consumption of natural gas in the country. The GTHE that is expected to come up by October will result in better price discovery through the creation of the Indian gas benchmark. Presently the price of bulk natural gas is fixed by the government based on the price prevalent in gas-surplus nations of Russia, US, China and the cost of importing LNG.
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