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#755 Daily Money Show | Money Purse Stock Market News

Original: # 755 Daily Money Show | Money Purse Stock Market News

53.6K views · Feb 20, 2024 · 19:49 min · Watch on YouTube ↗
Takeaway

Banks led the index higher and the government's push for ~$26 bn private investment in nuclear energy (Reliance, Tata, Adani, Vedanta) signals a major long-term power-sector opportunity.

Summary

  • Sensex +349 to 73,057 and Nifty +74 to 22,196 driven mainly by bank stocks — HDFC Bank contributed 61 of Nifty's 74-point gain.
  • Government in talks with Reliance Industries, Tata Group, Adani Group and Vedanta to invest a total of ~$26 billion in nuclear energy.
  • Each company reportedly asked to invest Rs 440 billion to help reach 50% non-fossil-fuel power capacity by 2030.
  • Once formal announcement comes, participating power-sector companies will benefit from rising power demand.
  • NBCC won Rs 560 cr order to build permanent NIT Sikkim campus; stock reacted positively along with strong Q3 results.
Bank StocksNuclear EnergyRelianceNBCCDaily Money Show
Original description
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