Power shares in demand

Adani Power, Tata Power and Reliance Power are trading higher by up to 8% on the BSE.

Shares of power companies such as Adani Power, Tata Power and Reliance Power are trading higher by up to 8%, extending their past four days gain on the Bombay Stock Exchange (BSE).

The BSE Power index, the largest gainer among sectoral indices, was up 0.77% compared to 0.09% decline in S&P BSE Sensex at 1100 hours. The power index has rallied nearly 4% in past one week as against 2% rise in benchmark index.

Among the individual stocks, Adani Power has rallied 8% to Rs 38.95, followed by Tata Power up 3% at Rs 82.25 and Reliance Power 1.4% at Rs 74.

Jaiprakash Power Ventures, PTC India, Suzlon Energy, Lanco Infratech, JSW Energy, GMR Infrastructure and NTPC are also trading higher by 1-3% on the BSE.

According to Economic Times reports, the government is working out a plan to restructure the loans, extend repayment deadlines by three years and waive penalties.

Power minister Jyotiraditya Scindia is likely to meet finance minister P Chidambaram next week to discuss the proposal, added report.