NSG waiver boosts power, capital goods stocks
Domestic stock markets on Monday gave thumbs-up to the NSG waiver, which now allows India to buy products and technologies associated with civilian uses from all the big nuclear powered nations.
By ET Bureau |
MUMBAI: Domestic stock markets on Monday gave thumbs-up to the NSG waiver, which now allows India to buy products and technologies associated with civilian uses from all the big nuclear powered nations.
However, the US Congress is yet to ratify the 123 Agreement between the two nations.
Shares of power and capital goods companies, eyeing greater opportunity from the India-US nuclear deal, led the bull charge.
At 12:47 pm, BSE Power Index was higher by 5.06 per cent at 2,760.35, but off the early high of 2,831.63. The BSE Capital Goods Index was up 4.97 per cent at 12,575.64. The index touched a high of 12,815.63.
Among power stocks, NTPC gained 5.71 per cent, Power Grid was up 5.53 per cent and Tata Power jumped 3.91 per cent. Larsen & Toubro advanced 5.62 per cent and BHEL climbed 5.59 per cent.
���The N-deal will help power producing companies produce power at low cost of operation. Nuclear power equipment producers will also stand to benefit. The ultimate beneficiaries of the NSG waiver will be power and capital goods companies like NTPC, Power Grid, L&T, BHEL and Areva. If private players are allowed to participate in nuclear power generation, then Tata Power, Reliance Power are also in the queue,��� said V Theegala, analyst with a large brokerage.
In tapping the opportunity that is bound to arise from the Indo-US nuclear deal, NTPC has already drawn up plans to enter nuclear power generation by setting up a 2,000 MW project. Private player Tata Power has also shown interest.
However, the US Congress is yet to ratify the 123 Agreement between the two nations.
Shares of power and capital goods companies, eyeing greater opportunity from the India-US nuclear deal, led the bull charge.
At 12:47 pm, BSE Power Index was higher by 5.06 per cent at 2,760.35, but off the early high of 2,831.63. The BSE Capital Goods Index was up 4.97 per cent at 12,575.64. The index touched a high of 12,815.63.
Among power stocks, NTPC gained 5.71 per cent, Power Grid was up 5.53 per cent and Tata Power jumped 3.91 per cent. Larsen & Toubro advanced 5.62 per cent and BHEL climbed 5.59 per cent.
���The N-deal will help power producing companies produce power at low cost of operation. Nuclear power equipment producers will also stand to benefit. The ultimate beneficiaries of the NSG waiver will be power and capital goods companies like NTPC, Power Grid, L&T, BHEL and Areva. If private players are allowed to participate in nuclear power generation, then Tata Power, Reliance Power are also in the queue,��� said V Theegala, analyst with a large brokerage.
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In tapping the opportunity that is bound to arise from the Indo-US nuclear deal, NTPC has already drawn up plans to enter nuclear power generation by setting up a 2,000 MW project. Private player Tata Power has also shown interest.
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