Power utilities a hit with investors on low valuations, reform hopes

Mumbai: Shares of utility companies are witnessing investor appetite in a market struggling to find momentum after hitting lifetime highs last week. Analysts said the heightened interest in these stocks is because of cheaper valuations. The BSE Power index hit a 10-year high, ending up 3.8% at 3,192 after hitting an intraday high of 3,208.6.

Tata Power surged the most among utility companies, ending up nearly 9%, followed by NTPC, Power Grid, BHEL, Torrent Power, Adani Power and Siemens, which rose 2-7%. Power Grid and Torrent Power hit all-time highs.