NTPC falls to five-year low on electricity pricing rules
Reuters Market Eye - NTPC(NTPC.NS) shares slump as much as 11.2 percent, their lowest level since October 27, 2008, but Tata Power (TTPW.NS) and Adani Power (ADAN.NS) surge after the electricity regulator's ruling on pricing.
The Central Electricity Regulatory Commission on Sunday allowed Tata Power and Adani to raise tariffs, benefiting the two power producers.
But the impact for NTPC is seen as negative because the regulator has at the same time tightened incentives on capacity utilisation and tax treatments for the state-owned company, according to analysts.
At 12:20 p.m., NTPC shares down 11 percent, while Tata Power and Adani Power up 5 percent and 1 percent respectively.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- Google's Pichai to oversee major products and services
- Two killed, four wounded in Washington state school shooting
- Reuters Poll - India's growth pace to pick up as reforms draw investment
- Modi takes tea, but no questions, in first press event as PM
- UPDATE 12-Two U.S. states to quarantine health workers returning from Ebola zones
Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the Reserve Bank of India (RBI) has signalled it will not ease policy until it is confident of lower inflation. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article