Reuters Market Eye - Shares of private sector power producers gain on media reports the cabinet has given preliminary approval to price coal by averaging prices of domestic and imported coal.
The measures are intended to bring down coal prices, but details still need to be fleshed out, according to reports, including from The Economic Times.
Nomura says price pooling for coal would only impact projects eligible to secure supplies from Coal India Ltd under their respective fuel supply agreements, and hence would only benefit independent power producers such as Lanco Infratech Ltd and Adani Power Ltd . The investment bank adds pooling would be neutral to positive for NTPC Ltd and revenue neutral for Coal India Ltd
Lanco Infratech shares gain 4.8 percent while Adani Power is up 1.9 percent. NTPC shares are down 1.6 percent, while Coal India shares are up 0.4 percent.
(Reporting by Abhishek Vishnoi)
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