Morning Alert.. *Govt okays Rs 12,031Cr in green energy push* | Equity99

Morning Alert..

*Govt okays Rs 12,031Cr in green energy push*
The government cleared Rs 12031Cr to set up infrastructure to transmit electricity from renewable energy projects as it seeks to boost the output from the green sources and meet half of the nations energy requirement from them by 2030. The investment approved by the Cabinet Committee on Economic Affairs is for the second phase of the green energy corridor, which will help supply 20 GW of renewable energy to the national grid from Gujarat, Himachal Preadesh, Karnataka, Kerela, Rajasthan, Tamil-Nadu & UP.

*Centre may provide infra sector sops to covid-hit industry*
The Union government may bring more sectors under the ambit of infrastructure segments eligible for attractive tax benefits, two people aware of the plans said, as it aims to help industries hit hard by the pandemic and boost investments. Sectors given infrastructure status are generally included in the finance ministrys “harmonized master list of infrastructure sub-sectors”.

*Centre close to finalizing revised foreign direct investment policy*
The Centre is close to finalising the revised foreign direct investment policy which will facilitate the divestment of Life Insurance Corporation of India, Anurag Jain, secretary, department for promotion of industry and internal trade (DPIIT), said on Thursday.

*Commodity play*
Gold – Rs 47628/10gm, Silver – Rs 60266/kg, Brcrude – Rs 6166/Barrel, Degumsyoil – Rs 1143/10kg, Copper – Rs 742/kg.

*Corporate News*
Shriram Transport Finance – FITCH rates Co`s proposed USD senior secured bonds BB(EXP).

Godrej Consumer Products – Co see dilution in operating margins during quarter, on a (YoY) basis.

Ircon International – Co has signed MOU with Systra MVA consulting (India) Pvt Ltd, an international consulting and engineering company.

Sector in focus - Banks, Fertilizers, IT & Healthcare.