Power scrips running high on policy push

DALAL STREET SPIKES

Power sector stocks continue to be in limelight after the government last week cleared the National Electricity Policy.

Among the big gainers in Monday's trading were ABB, up 6.51 per cent to Rs 1,150.25, Alstom, up 4.14 per cent to Rs 77.90, Crompton Greaves, up 1.34 per cent to Rs 337 and Siemens, up 0.34 per cent to Rs 1,455 also traded higher on sustained buying interest.

According to sources, a leading domestic broking house has put a buy call in selected power sector stocks welcoming the government move to clear the National Electricity Policy.

The policy aims to set guidelines for the faster development of the power sector and ensure supply of power to all areas of the country.

Analysts said, the policy will help push the reform process fast resulting in benefits to power generation and distribution companies.