NTPC Records Highest-Ever Power Generation and Growth in Coal Production

Indian Markets:

• Nifty 50 Movement: Index hit a low of 17,312.75 in early afternoon trade, later bounced back in mid afternoon trade and settled near the 17,400 level
• The equity market saw a surge in buying activity, backed by positive global cues that reflected a buoyant investor sentiment.
• However, the gains were curtailed due to the unforeseen production cut by OPEC+, which stoked concerns about inflationary pressures and its impact on the global economy.
• Autos, public sector undertaking (PSU) banks, and real estate sectors witnessed a notable uptick in their share prices, whereas oil & gas, fast-moving consumer goods (FMCG), and metal stocks faced selling pressure.

Global Markets:

• The Dow Jones futures were up 121 points, indicating a positive opening in the US stock market today.
• Markets in Europe and Asia advanced on Monday, as investors further digested key manufacturing data.
• Japans factory activity showed a softer contraction in five months. The manufacturing purchasing managers index rose to 49.2% for March, higher than Februarys figure of 47.7%, based on a private survey.
• U.S. stocks rose Friday after the Federal Reserves preferred inflation gauge showed a cooler-than-expected increase in prices.
• The Federal Reserves preferred inflation gauge climbed at a 0.3% monthly pace in February, marking a slight slowdown from the month before as pricing pressures show signs of gradually easing.

Stocks in Spotlight:

• NTPC witnessed a boost of nearly two percent during trading hours on April 3, following the announcement of the company’s remarkable achievement in the power generation sector. NTPC recently recorded its highest-ever power generation of 400 billion units (BU) in the current fiscal year, marking an impressive 11 percent growth from the previous year’s figures.
• Coal India Ltd’s shares rose by over 3 percent on April 3, following the release of positive data indicating the company’s production and offtake figures for March. Coal India and its subsidiaries recorded a 4 percent YoY increase in production in March. Furthermore, the company’s output for the current fiscal year 2022-23 has seen an impressive growth rate of 12.9 percent, amounting to a total of 703.2 million tonnes. This outstanding performance has resulted in Coal India surpassing its annual production target of 700 million tonnes for the first time since the fiscal year that ended in March 2006.
• Auto stocks made significant gains on Monday, buoyed by robust passenger vehicle sales in the current fiscal year 2022-23. The sector witnessed a remarkable 27 percent YoY growth, with sales figures reaching an all-time high of 3.9 million units by the end of the fiscal year on March 31, 2023. The Nifty Auto index emerged as the best-performing index among the sectoral indices for the day.

News from the IPO world?

• Udayshivkumar Infra shares list at 14% discount to IPO price
• Avalon Technologies IPO opens for subscription today
• Semhi Hotels refiles IPO papers with SEBI looks to raise Rs. 1000 crore 

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