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 ...

Quick Links

 

Market News

SPML Infra gains 5% on Rs 1,232 crore new orders

The company has won new orders worth Rs 1,232 crore from Uttar Pradesh Jal Nigam, Agra and Sardar Sarovar Narmada Nigam, Gandhinagar.

Palm oil up 0.6% on spot demand

Oil for delivery in October edged higher by 0.59%

Copper rises by 0.3% on global cues

Speculators created fresh positions in tandem with a firming global trend

Aluminium up by 0.2% on global cues

Increased demand at domestic spot markets also influenced prices

TVS Motor touches new high on robust August sales

Total two wheeler sales increased by 47% yoy to 217,662 units in August 2014.

Back to Top