Asian stocks rose on Thursday amid increased optimism over lower interest rates across the globe, while regional technology shares surged tracking overnight gains in artificial intelligence darling Nvidia.

Hong Kong's Hang Seng index added 1%, while Japan's Nikkei 225 index rose 1.3%.

The S&P 500 and Nasdaq indexes hit record closing highs on Wednesday, powered mainly by technology stocks as markets digested economic data that could support a much-expected start to the Federal Reserve's policy easing cycle.

Here's a table showing how US stocks performed on Wednesday:

Source: Equitymaster

At present, the BSE Sensex is trading 495 points higher and NSE Nifty is trading 144 points higher.

NTPC, ONGC, and Coal India are among the top gainers today.

HUL, Nestle, and Britannia the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Midcap index is trading 2% higher and the BSE Smallcap index is trading 2.4% higher.

Barring the healthcare sector, all other sectoral indices are trading on a positive note, with stocks in the realty sector and power witnessed buying.

The rupee is trading at Rs 83.4 against the US dollar.

In commodity markets, gold prices are trading 0.6% higher at Rs 72,925 per 10 grams today.
 

BHEL Secures Order From Adani Power

State-owned Bharat Heavy Electrical Ltd (BHEL) on Wednesday clinched a significant order worth more than Rs 35 bn from Adani Power Ltd (APL) to set up a 2x800 MW thermal power plant (TPP) in Raipur, Chhattisgarh.

Under the contract signed on 5 June 2024, BHEL will be responsible for the supply of equipment, including boilers, turbines, generators, and associated auxiliaries, as well as the supervision of erection and commissioning for the power project based on 'supercritical technology.'

The equipment, comprising boilers and turbine generators, will be manufactured at BHEL's Trichy and Haridwar plants, respectively. The order has been awarded by a domestic entity, Adani Power. The time frame for the execution of the order stipulates the supply of unit-1 within 35 months and unit-2 within 41 months.

Further, Bharat Heavy Electricals has secured an order from Mirzapur Thermal Energy (UP) Private Ltd to set up a 2x800 MW thermal power project at Mirzapur Phase I in Uttar Pradesh.
 

Maruti Suzuki's Renewable Energy Investment

Maruti Suzuki India has on Wednesday announced an investment of Rs 4.5 bn towards renewable energy projects, such as solar power and biogas, over the next three years, starting from the current financial year.

The move aims to enhance the company's environmental sustainability efforts and transition its operations towards greater eco-friendliness.

During FY24, the company allocated Rs 120.8 crore towards renewable energy projects. As part of its renewable energy strategy, the automotive market leader has initiated operations at a biogas facility within its Manesar plant, using internal resources such as food waste and Napier grass.

This initiative is in alignment with the Ministry of New and Renewable Energy's 'Waste to Energy' program.

Maruti intends to increase its production capacity to four million units by 2031, aiming to double its current capacity. Two greenfield manufacturing sites are in progress: The first is located in Kharkhoda, Haryana, and the second in Gujarat.

The pilot biogas facility at Manesar is engineered to generate 0.2 tonnes of biogas daily, with a projected output of around 100,000 standard cubic meters of biogas in FY25. This initiative is expected to mitigate around 190 tonnes of carbon dioxide annually.

The company said that it will use food waste from its canteens along with Napier grass as raw material. The biogas plant will power the manufacturing operations at the Manesar site, while the remaining organic residue will be repurposed in horticulture, establishing a zero-discharge model effectively.

He further said that the biogas facility in Manesar marks another stride towards nurturing a cleaner and more sustainable energy environment within the company and across the industry.

Hindustan Zinc's Greenhouse Gas Emissions

Vedanta group firm Hindustan Zinc Ltd. on Wednesday said that it has registered a 14% drop in greenhouse gas emission intensity in the last four years. To reduce its carbon footprint, Hindustan Zinc is increasing the quantum of renewable energy in its energy mix and improving its operational efficiency.

Hindustan Zinc focuses on a two-pronged approach to mitigating and offsetting its carbon footprint. The company's Pantnagar Metal Plant operates on 100% green power and it has signed a 450-mw renewable power delivery agreement poised to mitigate around 2.7 million tons of CO2 emissions annually.

Mines ministry collaborates with the Central TB division. The mines ministry on Wednesday said that it has entered into a collaboration with the Central TB Division of the Ministry of Health & Family Welfare to wipe out tuberculosis in the country.

This tie-up aims for collaborative field actions like webinars and other awareness-building initiatives by engaging the central public sector companies, attached offices, subordinate offices and autonomous bodies of the Ministry of Mines.

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