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