Power stocks rally in strong market
Tata Power settled with a gain of 6.08 per cent at Rs 103.75, while NTPC's scrip closed at Rs 171.40, up 4.19 per cent from its previous close on the BSE.
By PTI | Updated:
MUMBAI: Shares of power companies rallied in the stock market today on hopes that reform in the sector would be fast-tracked after industry leaders met Prime Minister Manmohan Singh.
Tata Power settled with a gain of 6.08 per cent at Rs 103.75, while NTPC's scrip closed at Rs 171.40, up 4.19 per cent from its previous close on the BSE.
In a similar fashion, Reliance Infrastructure and Reliance Power rallied by 9.63 per cent and 2.58 per cent, respectively.
Shares of Power Finance Corp rallied by 7.22 per cent, Adani Power gained 6.73 per cent, Thermax was up 4.26 per cent, Torrent Power rose by 2.27 per cent, GVK Power ended 2.19 per cent higher and PTC India climbed by 4.91 per cent.
"Shares of power companies did well in today's trade after the PM assured that a roadmap would be prepared to resolve issues such as a fuel shortage and coal prices," Inventure Growth & Securities Research Head Milan Bavishi said.
Top industrialists engaged in the power sector, including Ratan Tata and Anil Ambani, yesterday met Prime Minister Manmohan Singh, who promised to address their grievances in a time-bound manner.
Tata Power settled with a gain of 6.08 per cent at Rs 103.75, while NTPC's scrip closed at Rs 171.40, up 4.19 per cent from its previous close on the BSE.
In a similar fashion, Reliance Infrastructure and Reliance Power rallied by 9.63 per cent and 2.58 per cent, respectively.
Shares of Power Finance Corp rallied by 7.22 per cent, Adani Power gained 6.73 per cent, Thermax was up 4.26 per cent, Torrent Power rose by 2.27 per cent, GVK Power ended 2.19 per cent higher and PTC India climbed by 4.91 per cent.
"Shares of power companies did well in today's trade after the PM assured that a roadmap would be prepared to resolve issues such as a fuel shortage and coal prices," Inventure Growth & Securities Research Head Milan Bavishi said.
Top industrialists engaged in the power sector, including Ratan Tata and Anil Ambani, yesterday met Prime Minister Manmohan Singh, who promised to address their grievances in a time-bound manner.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
