Power producers fall on media report about tariff cut

Reuters Market Eye - Shares in power producers fall on media reports that the state government in Maharashtra is planning to cut power tariffs.

The Economic Times newspaper reported on Monday that Narayan Rane, the State Industries Minister, said a decision would be announced in eight days and the group of ministers set up by the government under Rane recommended that electricity tariff be cut by around 15 percent.

The cut would be only for farmers, domestic consumers and small businesses consuming less than a set amount of electricity, the paper said.

Tata Power falls 2.6 percent, while Reliance Infrastructure is down 1.08 percent.

A cut in power tariff in Maharashtra would come after the ruling Aam Aadmi Party's push in Delhi to cut power tariff in the state.

(Reporting by Abhishek Vishnoi)