Tata Power, NTPC, PowerGrid: Are power sector stocks likely to dip further?

Even as Adani Transmission hit new lifetime high on Tuesday, most power sector stocks are showing bearish signs. Here is how they look on the technical charts

A new ceheme for the ailing power sector could be on the anvil, which will be aimed at better infrastructure, smart meters, and a private franchisee model for improving power supply in states. This, according to reports, is likely have an estimated capital outlay of Rs 2-2.5 trillion and may replace UDAY (Ujwal DISCOM Assurance Yojana), which ends in March 2020. READ MORE ABOUT IT HERE

Meanwhile, electricity generation, according to an Equinomics Research note, declined 13% in October reflecting weakness in Indian economy. The outstanding dues of discoms, it said, have more than doubled to Rs 74,700 crore