Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 288 points, up 0.6% at 50,089 levels.

Meanwhile, the NSE Nifty is trading up by 84 points.

Hindalco and Tata Motors are among the top gainers today. Dr Reddy's and Infosys are among the top losers today.

The BSE Mid Cap index is trading up by 0.4%.

The BSE Small Cap index is trading flat.

On the sectoral front, stocks from the automobile sector, are witnessing most of the buying interest

On the other hand, stocks from the software sector, are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street

Nasdaq Futures are trading up 37 points (up 0.3%) while Dow Futures are trading up 93 points (up 0.3%)

The rupee is trading at 72.48 against the US$.

Gold prices are trading up by 1% at Rs 45,269 per 10 grams.

In global markets, spot gold today rose 0.5% after the US Federal Reserve reiterated its stance to keep benchmark rates near-zero through at least 2023 while keeping interest rate unchanged near zero. The US dollar fell sharply overnight making the greenback-denominated metal cheaper for non-US investors.

Gold prices in Indian markets jumped today after the US Federal Reserve maintained its easy monetary policy stance. On MCX, gold futures rose 0.8% to Rs 45,189 per 10 grams. In the previous session, gold had ended flat.

Moving on to stock specific news...

Among the buzzing stocks today is BHEL.

Bharat Heavy Electricals Limited (BHEL) announced that it has emerged as the lowest bidder at Rs 108 billion for the fleet mode tender floated by the Nuclear Power Corporation of India (NPCIL) for its 6x700 megawatt (MW) Turbine Island Package Projects.

Notably, PHWRs (Pressurised Heavy Water Reactors) are the mainstay of the Indian Nuclear Power Programme and 12 out of 18 operating PHWRs of NPCIL are equipped with BHEL-supplied Steam Turbine Generator sets with the balance from Canada and Ukraine. These sets have continuously been exhibiting excellent performance with Kaiga Unit -1 creating a world record of uninterrupted operation for 962 days, BHEL said in an exchange filing.

Additionally, BHEL has already supplied 2x700 MWe Steam Turbine Generator sets each for Kakrapar Atomic Power Plant and Rawatbhata Atomic Power Plant.

BHEL has been a reliable supplier of critical equipment and services for India's Nuclear Programme for many decades with specialised manufacturing facilities and capabilities already set up. The company aims to continue making a major contribution towards self-reliance in nuclear equipment production and initiatives taken will be a driving force towards the Aatmanirbhar Bharat Abhiyan of Government of India, it said.

BHEL is an Indian public sector engineering and manufacturing company based in New Delhi, India. Established in 1964, it is also India's largest power generation equipment manufacturer.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of BHEL were trading up by 5.5% on the BSE.

Moving on to news from the energy sector...

Indian Oil Corporation Enters into Joint Venture with Israeli Firm Phinergy

Indian Oil Corporation (IOC) on March 17, 2021, entered into a collaboration with Phinergy, an Israeli start-up company specialising in hybrid lithium-ion and aluminium-air/zinc-air battery systems, to form IOC Phinergy Private Limited.

According to a press release, the collaboration took place in the presence of Union Minister Dharmendra Pradhan and Israel Energy Minister Yuval Steinitz.

The joint venture will manufacture aluminium-air systems in India to boost India's flagship programme - "Make in India" and recycle used aluminium to strengthen India's energy security.

In a significant boost to India's pursuit of e-mobility, two of the leading automotive manufacturers in India- Maruti Suzuki and Ashok Leyland signed a Letter of Intent (LOI) with the newly incorporated JV IOC Phinergy Limited, said the release.

"Our energy sector will be growth-centric, industry-friendly, and environmentally conscious. We have the onerous task of ensuring ample access to energy to improve the lives of Indians coupled with the need to have a smaller carbon footprint. In this scenario, this technology to develop indigenous batteries using locally available aluminium fits into the energy vision of India as espoused by Prime Minister Modi, wherein he has given a clear call for increasing the contribution of electricity to decarbonize mobility," Union Minister Dharmendra Pradhan said.

Indian Oil Corporation is an Indian central public sector oil and gas company owned by the Ministry of Petroleum and Natural Gas. Indian Oil's business interests overlap the entire hydrocarbon value-chain, including refining, marketing of petroleum products, exploration and production of crude oil, natural gas and petrochemicals.

How this joint venture pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.