Power stocks including PowerGrid Corporation, NTPC gain up to 3.4%

MUMBAI: Shares of power companies today rose by as much as 3.4 per cent in tandem with an overall rally in the stock market, despite severe power crisis in entire north India due to collapse of the Northern Grid early morning.

PowerGrid Corporation settled at Rs 118.05, up 3.46 per cent, while NTPC was up 3.01 per cent at Rs 157.65 on the BSE.

Among others, NHPC rose by 1.69 per cent, Tata Power surged by 4.12 per cent and Reliance Power moved up by 4.79 per cent.

Entire north India today plunged into the worst power crisis in a decade throwing normal life out of gear for several hours in eight states with collapse of the Northern Grid early morning.

The electricity supplies have been restored in the northern parts of the country.

From Railways to Delhi Metro to water supplies, many of the services were severely hit since the grid failed at 2:35 AM. Office-goers and students faced harrowing times in the national capital where the Metro train services were disrupted.

Delhi, Punjab, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh and Jammu and Kashmir suffered the power outage. Besides, union territory of Chandigarh was also snapped from the grid.

In the broader market, the Sensex ended at 17,143.68, up 304.49 points.