Power stocks rally; Tata Power, CESC, Adani Power gain up to 16%

Tata Power soared 16% to Rs 72.15 on the BSE in intra-day trade on the back of an over 10-fold jump in trading volumes, while Adani Power up 14% to Rs 34.10, surging 42% in past three trading days.

Shares of electric utility companies such as Tata Power, Reliance Infrastructure, Adani Power, CESC and JSW Energy have rallied by up to 16% on the BSE in intra-day trade on hopes of the Gujarat government’s panel may bring Rs 1.29 trillion relief to state’s three stranded power projects.

Tata Power soared 16% to Rs 72.15 on the BSE in intra-day trade on the back of an over 10-fold jump in trading volumes. A combined 25.1 million equity shares changed hands on the counter on the NSE and BSE till 01:29 PM.

Adani Power up 14% to Rs 34.10, surging