100% rural electrification by May 2018: Power stocks electrified

NEW DELHI: Shares of power finance companies such as Rural Electrification Corporation and Power Finance Corporation hogged limelight after the Finance Minister Arun Jaitley in his Union Budget speech announced 100 per cent village electrification by May 2018. However, the BSE Power index was trading 0.43 per cent down at 2158 around 11.59 am (IST).

Rural Electrification Corporation was trading 1.80 per cent up at Rs 144.60 around 11.45 pm (IST). The scrip opened the day at Rs 142.65 and touched a high and low of Rs 146.80 and Rs 142.65, respectively, in trade.

Power Finance Corporation was trading 2.23 per cent up at Rs 133 around the same time. The scrip opened at Rs 131 and touched a high and low of Rs 133.95 and Rs 130.55, respectively, in trade.

However, benchmark BSE Sensex was trading 12.57 points, or 0.05 per cent, down at 27,643.39.

Rural Electrification Corporation Limited (REC) is a leading public Infrastructure Finance Company in India's power sector.

Stocks of select-power companies such as Suzlon, BHEL, PTC and Torrent Power were trading higher by 1.52 per cent, 0.73 per cent, 0.71 per cent and 0.03 per cent, respectively.