PRE-MARKET INDIAN STOCKS NEWS: Indian Cabinet Committee on Economic Affairs approved investment of INR 260.70bln for NHPC Ltd. (NHPC IS) construction of the 1,720MW Kamala Hydro Electric Project
Info Edge (India) Ltd. (INFOE IS) - Co. Q4 standalone billings rose 7.5% Y/Y to INR 10.57bln (prev. INR 9.84bln Y/Y), recruitment solutions billings rose 9.5% Y/Y to INR 8.11bln (prev. INR 7.40bln Y/Y). (Moneycontrol)
KEC International Ltd. (KECI IS) - Co. secured orders worth INR 25.18bln across civil, transportation and distribution, and cable and conductors segments. (Moneycontrol)
Lupin Ltd. (LPC IS) - Co. received US FDA approval for dapagliflozin and metformin hydrochloride extended-release tablets. (Moneycontrol)
NHPC Ltd. (NHPC IS) - Cabinet Committee on Economic Affairs approved investment of INR 260.70bln for the construction of the 1,720MW Kamala Hydro Electric Project. (Moneycontrol)
NTPC Ltd. (NTPC IS) - Co. signed non-binding MoU with EDF to explore cooperation in developing new nuclear power projects in India. (Moneycontrol)
Tata Sons Pvt. Ltd. - Co. trustee Venu Srinivasan backed the idea of a public listing
The Indian Cabinet's approval for a substantial investment in NHPC Ltd. for a major hydroelectric project signals strong governmental backing for infrastructure development, which could positively influence investor sentiment towards Indian equities, particularly in the energy sector. This move may also have broader implications for the growth of renewable energy investment in India and supports the nation's sustainability goals.