Power stocks surge as SC quashes RBI's Feb 12 circular; Adani Power up 2%

On February 12, 2018, RBI had asked banks and other lenders to either execute a resolution plan for big stressed accounts or file insolvency petitions against them in the NCLT.

Shares of power and sugar companies surged in the morning trade on Tuesday after the Supreme Court quashed the Reserve Bank of India’s February 12 circular via which the banking sector regulator had asked banks to take defaulting power, sugar, shipping and other sector companies to insolvency.

At 10:50 am, shares of Tata Power were trading over 2 per cent higher at Rs 76 apiece while those of Adani Power gained 3 per cent. NTPC was trading nearly a per cent higher at Rs 136 while Power Grid was ruling nearly 2.50 per cent at Rs 200.45. 

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