Business Standard

Equipment makers gain on import duty hopes

The power min is expected to submit a new proposal for a potential import tax to a cabinet of ministers

Related News

Shares of power equipment makers rise after the Prime Minister's office convened a meeting to discuss the contentious issue of imposing duties on foreign equipment imports.

The power minister is expected to submit a new proposal for a potential import tax to a cabinet of ministers, two government sources tell Reuters, in what would be a procedural matter.

Domestic power makers have requested import duties for the past two years to curtail the supply of cheaper equipment from China.

A panel of minister on economic affairs in March had deferred a decision on import duties.

Bharat Heavy Electricals , India's largest power equipment maker by capacity, advances 1.5%, while engineering conglomerate Larsen & Toubro gains 0.7%.

Mid-sized power gear makers BGR Energy and gain 2.4% and 1.8% respectively.

Read more on:   
|
|

Read More

Sensex zooms 439 pts on GAAR relief, EU deal

The stock markets surged over two per cent on Friday on heavy buying from foreign investors after the government soothed their nerves by proposing ...

Recommended for you

Advertisements

Quick Links

Market News

Quality concerns bug groundnut export

Groundnut export hit a record of 832,617 tonnes worth $1,094 mn in 2011-12, described as an exceptional year. It was 509,665 tonnes worth $526 ...

LIC: The quintessential white knight

State-owned Life Insurance Corporation of India (LIC) has always been the government's go-to investor when it comes to divesting its holdings in ...

CIL sale raises Rs 22.4k cr, drags markets

OFS becomes biggest equity offering ever

Sensex tanks 500 points on CIL sale, banks' woes

Ending its 10-day gaining streak, the NSE Nifty closed 143 points, or 1.6 per cent, lower at 8,808.9

Positive move for Adani Enterprises' shareholders

Unsurprisingly, Adani Power closed marginally up (0.68%) at Rs 51.90 on bourses, while Adani Ports and SEZ closed 0.9 per cent down at Rs 340.50

 

Back to Top