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)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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