Asian markets surged sharply on Thursday, fuelled by the dovish tilt from the Federal Reserve’s final policy meeting of the year.The Nikkei is trading 0.4% lower while the Hang Seng index is trading 1.3% higher.The Dow Jones industrial average hit its first record closing high since January 2022 and the S&P 500 and Nasdaq rallied more than 1% each on Wednesday.Here’s a table showing how US stocks performed on Wednesday:
Source: EquitymasterAt present, the BSE Sensex is trading 780 points higher and NSE Nifty is trading 220 points higher.Tech Mahindra, Wipro, and Infosys are among the top gainers today.BPCL, Cipla, and Nestle on the other hand are among the top losers today.Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.6% higher and the BSE Small Cap index is trading higher by 0.9%.Barring the healthcare sector all other sectoral indices are positive today, with stocks in the realty sector and power sector witnessing the most buying.Shares of Bajaj Auto and Tata Elxsi hit their 52-week high today.The rupee is trading at Rs 83.31 against the US dollar.In commodity markets, gold prices are trading 1.9% higher at Rs 62,399 per 10 grams today.Meanwhile, silver prices are trading 3.8% higher at Rs 74,275 per 1 kg.
NBCC’s New Project WinState-owned NBCC has bagged a Rs 15 billion (bn) project management consultancy contract for the construction of 1,469 warehouses and other infrastructure related to the agriculture sector.NBCC said it has bagged the work order from the National Cooperative Development Corporation (NCDC) and Primary Agriculture Cooperative Society (PACS) in various states.The scope of work is the construction of 1,469 nos. warehouses and other agri infrastructure under the World’s Largest Grain Storage Plan in the cooperative sector at various locations across India.In May this year, the Union Cabinet approved the constitution and empowerment of an inter-ministerial committee for the facilitation of the World’s Largest Grain Storage Plan in the Cooperative Sector.NBCC shares are up 87% in 2023, with most of the gains coming in the past three months.
Ultratech Cement’s Green Goal
UltraTech Cement, on 13 December 2023, announced its plan to significantly increase the share of green energy in its total energy mix.The company aims to raise its current green energy portion of 22% to 60% by the fiscal year 2026 as an interim goal towards achieving an 85% green energy mix by 2030.The company said that it aims to meet its entire electricity requirement through renewable sources by 2050 as part of its RE100 commitment.Additionally, as a member of EP100, the company seeks to double its energy productivity.It currently operates with 691 MW of green energy capacity, inclusive of 262 MW from Waste Heat Recovery Systems (WHRS) and 429 MW from contracted renewable energy sources, fulfilling approximately 22% of its current energy needs.UltraTech’s initiatives to boost green energy involve transitioning to renewable energy sources and expanding WHRS, as per a press release issued by the company. Moreover, the company has pledged not to invest further in thermal power capacity.In efforts to decarbonize its manufacturing operations, the company said that it is exploring advanced technologies.This technology uses renewable energy for heating processes, reducing reliance on fossil fuels.The cement major has also introduced CNG/LNG trucks and has committed to deploying electric and alternative fuel vehicles by June 2025.Currently, the company operates over 390 CNG trucks and 50 LNG trucks across 17 manufacturing units.
IRCTC’s Expansion PlanIndian Railway Catering & Tourism Corporation eyes a major expansion in the non-railway catering business.The hospitality and tourism arm of Indian Railways was on the road to proliferate in the areas of business beyond Railways for promoting its brand and business across the nation.At present, IRCTC is managing catering services for various ministries, government departments, and autonomous bodies, including judiciary and universities.The company has already set up its hospitality outlets in 9 such organizations, including the Department of Telecommunications – New Delhi, Calcutta High Court, UP Secretariat – Lucknow, and so on.Such bodies included defense establishments such as Border Security Force, Indian Maritime University – Kolkata, and Cotton University – Guwahati. IRCTC said it is in the active phase of commissioning 15 more catering units across the country shortly.IRCTC stands among the Top 5 Midcap Stocks with High RoCE to Add to Your Watchlist.More By This Author:Sensex Today Ends Flat; TCS & Infosys Top LosersSensex Today Trades Lower; Adani Total Gas Tanks 6%Sensex Today Ends 378 Points Lower
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