 "PSU stocks in focus; ITI surges 20%, BHEL gains 15%, Coal India up 8%")
Shares of public sector undertaking (PSU) companies were in focus on the bourses on Thursday with the S&P BSE CPSE (up 2.4 per cent) and S&P BSE PSU index (up 2.1 per cent) gaining over 2 per cent each on the back of positive reports on coal, power, and telecom sectors. In comparison, the S&P BSE Sensex was up 1 per cent at 33,855 points at 01:27 pm.
Telecom equipment providers ITI hit 20 per cent upper circuit at Rs 108 on the BSE. The stock has rallied 33 per cent in the past two trading days after the Department of Telecommunications (DoT) reportedly asked state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam (MTNL) to exclude Chinese gearmakers from supplying 4G telecom equipment. Private telecom operators have been asked to consider staying away from such Chinese firms.
Telecom services provider MTNL's stock was also locked in 10 per cent upper circuit at Rs 9.85 on the BSE on the back of three-fold jump in trading volumes.
Bharat Heavy Electricals Limited (BHEL) soared 15 per cent to Rs 31.55 in intra-day today, on the back of over three-fold jump in volumes after Vedanta Resources Chairman Anil Agarwal said that state-run company was capable of producing the best power plants in the world if it is given greater autonomy.
“Most of the power plants in India are imported from China. BHEL, a PSU, is very capable to produce the best power plants in the world. If given full autonomy and either corporatized or privatized, without laying off any personnel, it can do wonders for #atmanirbharIndia,” Anil Agarwal tweeted.
Coal India gained 8 per cent to Rs 139.65 in intra-day after the Prime Minister kicked-off the auction process of coal blocks for commercial mining to achieve self-reliance in the mining sector, which is the key source of input for many basic industries like power, steel, aluminium and sponge iron.
Among other PSU stocks, MSTC was locked in 10 per cent upper circuit on the BSE. Besides, MMTC, Hindustan Copper, Bharat Electronics, Ircon International, NLC India, Engineers India, BEML, STC India, NBCC, Mishra Dhatu Nigam and Container Corporation of India were all up in the range of 4 per cent to 8 per cent on the BSE.
Telecom equipment providers ITI hit 20 per cent upper circuit at Rs 108 on the BSE. The stock has rallied 33 per cent in the past two trading days after the Department of Telecommunications (DoT) reportedly asked state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam (MTNL) to exclude Chinese gearmakers from supplying 4G telecom equipment. Private telecom operators have been asked to consider staying away from such Chinese firms.
Telecom services provider MTNL's stock was also locked in 10 per cent upper circuit at Rs 9.85 on the BSE on the back of three-fold jump in trading volumes.
Bharat Heavy Electricals Limited (BHEL) soared 15 per cent to Rs 31.55 in intra-day today, on the back of over three-fold jump in volumes after Vedanta Resources Chairman Anil Agarwal said that state-run company was capable of producing the best power plants in the world if it is given greater autonomy.
“Most of the power plants in India are imported from China. BHEL, a PSU, is very capable to produce the best power plants in the world. If given full autonomy and either corporatized or privatized, without laying off any personnel, it can do wonders for #atmanirbharIndia,” Anil Agarwal tweeted.
Coal India gained 8 per cent to Rs 139.65 in intra-day after the Prime Minister kicked-off the auction process of coal blocks for commercial mining to achieve self-reliance in the mining sector, which is the key source of input for many basic industries like power, steel, aluminium and sponge iron.
Among other PSU stocks, MSTC was locked in 10 per cent upper circuit on the BSE. Besides, MMTC, Hindustan Copper, Bharat Electronics, Ircon International, NLC India, Engineers India, BEML, STC India, NBCC, Mishra Dhatu Nigam and Container Corporation of India were all up in the range of 4 per cent to 8 per cent on the BSE.
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