Power producers surge after regulatory relief on tariffs

MUMBAI (Reuters) - Shares of Tata Power surged 6 percent while Adani Power rose 1.6 percent on Monday after the electricity regulator allowed these companies to raise tariffs and receive compensation to make up for losses incurred at their Mundra projects.

Tata Power can raise tariffs by 0.524 rupees per unit for the current fiscal year for electricity generated from Mundra, the regulator said in an order dated February 21.

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)