Power companies’ shares rally as PM Modi vows to delicense distribution
The government will free the electricity distribution sector from licensing, Prime Minister Narendra Modi said on Thursday when shares of several power companies rallied.
Shares of Bharat Heavy Electrical Ltd closed 7.3% higher on the BSE on Thursday while Torrent Power scrip ended the day 8% up while government officials held a series of meetings with industry captains and associations on the proposed legislative amendments to delicense power distribution and other announcements made in the Union budget.
