DSIJ Mindshare

On Monday, India’s largest integrated power utility, Tata Power announced that it has obtained a letter of intent (LoI) from Odisha Electricity Regulatory Commission (OERC). The LoI was basically for the distribution as well as the retail supply of electricity in five circles of North-Eastern Electricity Supply Company of Odisha (NESCO), which include areas of Balasore, Bhadrak, Baripada, Jajpur & Keonjhar. 

Today, Sensex is up by more than 1,600 points on an intraday basis and is well on its path to deliver one of the best Budget day performances till date.  

The Budget event so far is tilting towards bulls in a big way with Sensex recording gains of more than 900 points on an intraday basis.  

As expected, the markets are showing volatility with a positive bias on the Budget day after the markets corrected for five straight sessions.  

As the market eagerly awaits the contours of Budget; the banks, especially private banks are seen outperforming the markets. On the other hand, the IT & Pharma stocks are seen underperforming the markets during the first hour of the trade.