Power stks extend rally; Torrent Power, JSW Energy, Power Grid at new highs

Shares of power generation and distribution companies continued their upward movement, with Adani Power, Torrent Power, JSW Energy and Power Grid Corporation hitting their respective all-time highs on the BSE in intra-day trade on Wednesday amid strong demand. Tata Power Company, CESC, Bharat Heavy Electricals (BHEL) and NTPC were quoting at their respective 52-week high levels.

At 12:26 pm, the S&P BSE Power index was up 2.9 per cent at 3,070 points, as compared to a 0.26 per cent rise in the S&P BSE Sensex. Thus far in the month of June, in seven trading days, the power index has rallied 9 per cent, as against a 1 per cent rise in the benchmark index. The BSE Power was trading at its highest level since November 2010.