Power companies’ shares gain on ₹90,000 crore lifeline
MUMBAI: Shares of power companies on Thursday surged after the government announced ₹90,000 crore liquidity lifeline for the sector.
Adani Power Ltd gained 10%, Tata Power Co Ltd 8%, Bharat Heavy Electricals Ltd 8%, Torrent Power 4%, and Adani Transmission 3%. Power Finance Corp (PFC) and REC Ltd fell around 1% each, while NTPC Ltd declined 3%.
“This is positive for the power sector as a whole. NTPC may see some earnings impact,” said Jefferies India in a note to its investors.
