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Tata, Adani Power surge up to 14% as SC to examine tariffs


NEW DELHI: Shares of Tata Power Company (up 13.95 per cent), Reliance Infrastructure (up 9.32 per cent) and Adani Power (up 8.85 per cent) surged in Friday’s session amid reports that the Supreme Court agreed to examine tariffs for Adani and Tata Power.

ET Now reported on Friday that the Supreme Court agreed to hear plea on tariff hike after two weeks and will examine them for Adani Power and Tata Power.

The BSE Power index was trading 3.13 per cent up at 1,955 around 1 pm with all components in the green.

Shares of CESC (up 7.70 per cent), JSW Energy (up 6.31 per cent), Suzlon Energy (up 5.22 per cent) and GMR Infrastructure (up 5.03 per cent) surged over 5 per cent.

Adani Transmission (up 4.98 per cent), KEC International (up 4.41 per cent), CG Power and Industrial Solutions (up 3.94 per cent), BHEL (up 3.83 per cent), Thermax (up 3.37 per cent), Torrent Power (up 3.24 per cent), NHPC (up 2.56 per cent), ABB India (up 2.32 per cent), Siemens (up 2.22 per cent), NTPC (up 1.07 per cent) and Power Grid Corporation of India (up 0.78 per cent) climbed in that order.

Benchmark BSE Sensex was up 735 points at 34,736, while the NSE Nifty50 index was up 229 points at 10,464.

Among the 50 stocks in the Nifty index, 47 were trading in the green, while three – Tata Consultancy Services (TCS), HCL Technologies and Dr. Reddy’s Laboratories – were in the red.

In the 30-share Sensex index, barring TCS, all were in the green.

Mahindra & Mahindra, Maruti, Bajaj Auto, ITC and Kotak Mahindra Bank were leading among Sensex scrips at that time.

Source: Economic Times