Bharat Heavy Electricals Ltd (BHEL) and Larsen and Toubro (L&T) are trading higher by 2% each in morning deals, on reports that the Cabinet Committee on Economic Affairs (CCEA) will impose import duty at the rate of 20% on the power generation equipment for projects above 1,000 megawatts (MW).
The committee is expected to take a call on the issue in the next 15 days. If the proposal is approved, it will give domestic equipment manufacturers a major boost.
At present, power generation equipment for projects below 1,000 MW bears a duty of 5% while there is almost nil duty on equipment for projects above 1,000 MW.
Among individual stocks, BHEL is trading higher 4.6% at Rs 317 and L&T is up 2% at Rs 1,478 on the Bombay Stock Exchange.
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