Shares of two hydropower companies rose by 5.42% to 6.98% at 9:33 IST on BSE on reports the government has decided to provide a Rs 16000 crore bailout package to the hydropower sector.
NHPC (up 6.98%) and SJVN (up 5.42%), edged higher.
The BSE Sensex was down 47.16 points, or 0.15% at 31,166.20.
According to reports, this is the first package for the power sector provided by the current government. This package includes a 4% interest subvention to projects with total capacity of 11,639 megawatts (MW) and the creation of a Hydro Power Development Fund. The fund would be financed with either coal cess, or from the National Clean Energy Fund or the pool for the Development of North Eastern Region (DONER).
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app