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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Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article