BSE Power Index Surge, Godrej Properties New All-Time High; What's Moving Markets

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BSE Power Index Surge, Godrej Properties New All-Time High; What's Moving Markets
Credit: © Reuters.

By Puneet Sikka

Investing.com -- S&P BSE Power index made smart gains of 3.52% today despite the broader market index Nifty declining by 0.21%.

Power generation stocks were in demand today as India's power demand in August rose by 4% due to a strong recovery in industrial and commercial activity. Tata Power Co. Ltd (NS: TTPW ) surged by 8.5% while NTPC (NS: NTPC ) and Power Grid (NS: PGRD ) also went up by more than 6%.

Godrej Properties (NS: GODR ) stock is on a roll having jumped by 50% in the last couple of months. Today it made another all-time high to close at 2,315, up by 3.6%. Today the company announced that it will develop a residential project in Wadala, Mumbai.

In general, the Nifty Realty index has shot up by 30% in the last month. The low-interest-rate environment and slash in stamp duty in Maharashtra and Karnataka have boosted the sentiments of the property buyers.

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