Asian shares firmed on Monday as Chinese data surprised on the upside for once. Investors looked to navigate a minefield of central bank meetings this week that could see the end of free money in Japan and a slower glide path for US rate cuts.

US stock market indices ended lower on Friday dragged by technology stocks while investors weighed the interest rate outlook ahead of next week's Federal Reserve meeting.

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

Source: Equitymaster

At present, the BSE Sensex is trading 147 points lower and NSE Nifty is trading 63 points lower.

M&M, Apollo Hospital, and Tata Steel are among the top gainers today.

Adani Enterprises, Adani Ports, and Asian Paints on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Midcap index and the BSE Small Cap index is trading 0.2% lower.

Sectoral indices are trading mixed, with socks in the auto sector, and the capital goods sector witnessing buying. Meanwhile, stocks in the power sector and realty sector are witnessing selling pressure.

The rupee is trading at Rs 82.86 against the US dollar.

In commodity markets, gold prices are trading 0.5% lower at Rs 65,225 per 10 grams today.

Meanwhile, silver prices are trading 0.5% lower at Rs 75,257 per 1 kg.
 

SJVN Bags Solar Project

SJVN Green Energy (SGEL), the renewable arm of SJVN has received a letter of intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for a 200 megawatt (MW) solar project in GUVNL Phase-XXIII.

SJVN Green Energy has earlier bagged the 200 MW solar project through tariff-based competitive bidding at a tariff of Rs 2.66 per unit on build own and operate (BOO) basis for which e-RA was conducted on 2 March 2024 by GUVNL.

Kapur further stated that the tentative cost of construction and development of this project is Rs 1,100 crore. The project is to be developed at the Gujarat State Electricity Corporation (GSECL) solar park at Khavda. The power purchase agreement shall be executed with GUVNL after the adoption of the tariff by the Gujarat Electricity Regulatory Commission (GERC). The project shall be commissioned in 18 months from the date of signing of the power purchase agreement (PPA).

The project is expected to generate 508.4 million units in the first year after commissioning, and the projected cumulative energy generation over 25 years would be about 11,698.2 million units.

Commissioning of this project is expected to reduce 5,73,210 tonnes of carbon emission and would contribute to the Government of India (GoI) mission of reduction in carbon emission.

SJVN is engaged principally in electricity generation. The company is also engaged in the business of providing consultancy.

Zydus Receives USFDA Approval

Zydus Lifesciences has obtained final approval from the United States Food and Drug Administration (USFDA) to market its Finasteride and Tadalafil Capsules USP 5 mg/5 mg.

Notably, Zydus is the first approved applicant for Finasteride and Tadalafil Capsules.

This medication is used in the treatment of benign prostatic hyperplasia and will be produced at the company's formulation manufacturing facility in Gujarat's Ahmedabad SEZ II.

With the latest approval, Zydus now has a total of 392 approvals and has submitted over 460 Abbreviated New Drug Applications (ANDAs) since the initiation of the filing process in the financial year 2003-04.
 

JSW Energy Bags Additional Wind Capacity

JSW Energy on Saturday announced that its wholly-owned subsidiary JSW Neo Energy Ltd has bagged an additional 500 MW of wind energy capacity for wind power projects of Solar Energy Corporation of India Limited (SECI).

With the latest award, the total wind power capacity won by JSW Neo Energy Ltd under the SECI Tranche XVI has increased to 1,000MW.

JSW Neo Energy Ltd bagged a 500MW wind capacity under the SECI Tranche XVI. The company received a letter of award (LoA) for an additional 500MW under the greenshoe option for SECI wind power projects, taking the total capacity to 1,000 MW.

The latest project win will help JSW Energy take its total locked-in generation capacity to 12.5 GW, of which 4.6 GW will be wind power.

The company at present has an installed generation capacity of 7.2GW, of which 1.6GW is wind. Around 2.6GW of power capacity is under construction across wind, thermal, and hydro segments.

Also, the company has received LoAs for 2.7GW capacity from SECI (solar and wind), SJVN, and GUVNL.

JSW Neo Energy on Wednesday received a letter of intent (LoI) for the grid-connected solar capacity of 300MW from Gujarat Urja Vikas Nigam Limited. The solar capacity will be set up in Gujarat State Electricity Corporation's RE Park at Khavda.

JSW Energy targets an installed capacity of 9.8 GW by the end of this year against the current 7.2 GW.

More By This Author: