Tata Power rises on hopes of tariff hike

Tata Power Company is trading higher by 3% at Rs 101 in otherwise subdued market after the Maharashtra Electricity Regulatory Commission increased fuel adjustment cost ceiling to 20% from 10%.

Meanwhile, Attorney general’s opinion to the Forum of Regulators (FoR) favours a tariff increase for Tata Power Company’s Mundra 4,000 megawatts (MW) power project in Gujarat, the report suggests.

On Tuesday, Attorney General of India Goolam Vahanvati has said the power regulator can regulate and revise electricity tariffs irrespective of the contracts signed by power producers with distribution companies.

The stock opened at Rs 98.50 on the NSE and has seen 2.45 million shares changing hands on the counter so far on both the exchanges.