Market News
5 min read | Updated on November 26, 2024, 08:18 IST
SUMMARY
State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Monday said it has secured an order from Power Grid Corporation for the Khavda Nagpur HVDC (high-voltage direct current transmission) project along with Hitachi Energy India. Power Grid Corporation of India, on behalf of its Project SPV (special purpose vehicle) company, awarded the order.
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This suggests that the NIFTY50 index will open 7 points higher.
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In commodities, oil prices slipped in early trade on Tuesday, extending declines from the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil's risk premium.
Power Grid Corporation of India, on behalf of its Project SPV (special purpose vehicle) company, awarded the order.
According to the filing, the order is to design and execute the 800 kV, 6,000 MW, 1,200 km High-Voltage Direct Current (HVDC) terminal stations to evacuate renewable energy from Khavda in Gujarat to Nagpur in Maharashtra.
The order will be executed by 2029.
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