Power stocks trade mixed after Modi launches Saubhagya scheme

At 10:20 AM; the S&P BSE Power index was trading flat at 2,229 against 0.2% decline in S&P BSE Sensex.

Shares of power companies were trading mixed after the Prime Minister, on Monday, unveiled a flagship programme  called “Saubhagya — Pradhan Mantri Sahaj Bijli Har Ghar Yojana” to provide power to all households in the country by December 2018. The Rs 16,320-crore scheme aims at providing “last-mile electricity connectivity to all rural and urban household.

At 10:20 AM; the S&P BSE Power index was trading flat at 2,229 after hitting high of 2,250 on BSE in early morning trade.

Siemens, Bharat Heavy Electricals, CESE, Reliance Infrastructure and Power Grid Corporation were trading higher by up to 1%, while Tata Power,