Revival hopes electrify power stocks


“Additionally, liquidity support to REC and PFC can potentially lead to a reduction in dues from discoms to power generation companies in the coming months,” he added.

Synopsis

Demand for power has been weak in May and June so far. On an year-to-day basis till May, nation-wide daily and peak demand were higher by an average of 28 per cent and 26 per cent year-on-year. In May, it was up 12 per cent and 10 per cent from the same period last year.

Mumbai: Expectations of a revival in business activity led by the gradual lifting of lockdown by various states has fuelled a rally in power stocks of late. Stocks such as Adani Power, Tata Power, Reliance Power, Jaiprakash Power and Rattanindia Power rallied between 20 per cent and 50 per cent in the last five trading sessions. The BSE Power index hit its highest level since November 18, 2010, ending a decade long bearish trend.

“Improved

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