Power shares gain on SEBs restructuring buzz

The plan to restructure debts is over and above the proposal to revamp short-term debt of Rs 120,000 crore of these entities, report

Power shares gain on SEBs restructuring buzz

Shares of power related companies are in limelight on the bourses on reports that the government is likely to clear to restructure the debt of state electricity boards (SEBs) and power distribution companies (discoms) to revive the ailing sector.

According to media reports, the Cabinet Committee on Economic Affairs (CCEA) may take a decision on the restructuring proposal for SEBs and discoms on Thursday. The plan to restructure debts is over and above the proposal to revamp short-term debt of Rs 120,000 crore of these entities, added report.

Among the individual stocks, Power Finance Corporation has surged 7% to Rs 194 on back of over two-fold jump in trading volumes. A combined 7.36 million shares have changed hands on the counter so far on the NSE and BSE. Lanco Infratech has rallied 8% to Rs 13.38 on the BSE, while Reliance Power, BHEL, Suzlon Energy, NHPC and Crompton Greaves are trading higher by 1-4% at 1316 hours.