Reliance Infrastructure, Tata Power in focus
Reliance Infrastructure has rallied 6% to Rs 431, while Tata Power up 4% to Rs 82.10 on the Bombay Stock Exchange.
Reliance Infrastructure and Tata Power are trading higher by up to 6% on reports that the Delhi Electricity Regulatory Commission (DERC) has allowed distribution companies to recover dues in phases starting 2014-15.
The regulator has worked out a plan to allow the city's three private distribution companies recovery of dues totaling Rs 8,000 crore over eight years beginning 2014-15, the Business Standard report suggests.
"The annual installments allowed to be liquidated are Rs 424 crore for BSES Yamuna Pvt Ltd (BYPL), Rs 769 crore for BSES Rajdhani Pvt Ltd (BRPL) and Rs 478 crore for Tata Power Delhi Distribution Ltd (TPDDL)," DERC said in a March 1 letter to the three distribution companies.
The two BSES distribution companies, promoted by Reliance Infrastructure, owe Rs 693 crore to NTPC. These firms supply power to 70% of the city's 3.2 million consumers, while Tata Power-owned TPDDL caters to the rest, added report.
Among the individual stocks Reliance Infrastructure has rallied 6.4% to Rs 431, while Tata Power up 4% to Rs 82.10 on the Bombay Stock Exchange.
The regulator has worked out a plan to allow the city's three private distribution companies recovery of dues totaling Rs 8,000 crore over eight years beginning 2014-15, the Business Standard report suggests.
"The annual installments allowed to be liquidated are Rs 424 crore for BSES Yamuna Pvt Ltd (BYPL), Rs 769 crore for BSES Rajdhani Pvt Ltd (BRPL) and Rs 478 crore for Tata Power Delhi Distribution Ltd (TPDDL)," DERC said in a March 1 letter to the three distribution companies.
The two BSES distribution companies, promoted by Reliance Infrastructure, owe Rs 693 crore to NTPC. These firms supply power to 70% of the city's 3.2 million consumers, while Tata Power-owned TPDDL caters to the rest, added report.
Among the individual stocks Reliance Infrastructure has rallied 6.4% to Rs 431, while Tata Power up 4% to Rs 82.10 on the Bombay Stock Exchange.