Stock Market Today: Dalal Street appeared to be off to a good start on Thursday as the GIFT Nifty on the NSE IX trading higher by 89 points, or 0.40 percent, at 22,137. On Thursday, Tokyo equities approached a new high following the release of impressive earnings by US semiconductor giant Nvidia.Early trading saw the benchmark Nikkei 225 index rise 0.72 percent, or 275.27 points, to 38,537.43, while the Topix index as a whole gained 0.62 percent, or 16.33 points, to 2,643.63. In the face of indications of a tighter supply, oil prices increased somewhat on Thursday, maintaining gains from the previous session. This month, West Texas Intermediate (WTI) oil futures for the United States increased by 17 cents to $78.08 per barrel. The May contract was up 14 cents to $77.45 per barrel.
Stock Market Today: Stocks in focus
JSW Steel
According to those in the know, steel magnate Sajjan Jindal intends to borrow $750 million for capital expenditures as India’s largest steel mill aims for a significant capacity expansion. The persons, who asked not to be named because the information is confidential, stated that JSW Steel, a subsidiary of the $23 billion JSW Group, is in communication with lenders and that a mandate is probably coming up soon. The terms and price of the loan will be decided upon later when the transaction moves forward.
Tata Power
In order to obtain green electricity, electric mobility ride-hailing service provider BluSmart announced on Wednesday that it has entered into a multi-year power purchase deal with Tata electricity Trading Company. According to a release from BluSmart, Tata Power Trading Company (TPTCL) would obtain 30 MW of capacity under the terms of the power purchase agreement (PPA) from Tata Power’s 200 MW solar PV power plant in the Rajasthani region of Bikaner.
Vedanta
The Tamil Nadu government informed the Supreme Court that it was not required to reopen Vedanta’s Sterlite Copper factory in order to meet the nation’s copper demand, nor should it be regarded as a national asset. Rather than meet India’s copper needs, the state pointed to the upcoming copper smelter project in Gujarat owned by Adani Group. The Tamil Nadu government claimed that Vedanta was a polluter and repeat offender, hence it was against giving the corporation any chance to reopen its Thoothukudi factory.
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