PFC, REC surge on reform hopes
Reuters Market Eye - Shares in power sector lenders such as Power Finance Corp Ltd(PWFC.NS) and Rural Electrification Corp Ltd (RURL.NS) gain on speculation the government is preparing to offer new incentives to revive stalled power projects.
"Power Finance Corp will be the biggest beneficiary of reforms in the sector," said Kishor Ostwal, CMD, CNI research.
Expectations of good earnings by peer Rural Electrification Corporation (REC)(RURL.NS) later in the day, is also seen helping the stock.
PFC shares up 5.5 percent while REC rise 4.5 percent.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed
- Hollywood blockbuster 'Noah' faces ban in Arab world
- IndiGo plane evacuated after rear wheel catches fire in Nepal
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- WRAPUP 5-Malaysia Airlines plane missing at sea off Vietnam, presumed crashed
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew went missing over the South China Sea on Saturday, presumed crashed, as ships and planes from countries closest to its flight path scoured a large search area for any wreckage. Full Article