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Adani Power Shares 13% Up

Power stocks have risen by 13 percent on BSE on a weak trading Thursday after the Finance Minister Nirmala Sitharaman announced a relief package for the power sector under Atmanirbhar Bharat Abhiyaan.

As per the package, a fresh loan of Rs. 90,000 crore is being provided to state-run power distribution companies which will reduce receivables of electricity generation companies.

Adani Power share has rose by 13 percent on BSE, Tata Power shares jumped 9.5 percent and Reliance infrastructure gained 5 percent.

Similarly, the shares of Reliance Power, K.P. Energy, Jaiprakash Power rose by 3 to 5 percent. However, Power Finance Corporation and PEC shares slipped over 2 percent each.

PFC and PEC will infuse liquidity in the discoms by Rs. 90,000 in two equal installments.

BSE Sensex was trading at 31,426 which is 582 points down.

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