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BSE Power index hits over 10-year high; analysts advise booking profit
Shares of power generation and distribution companies have rewarded investors handsomely over the past two months with returns of Reliance Infrastructure, JSW Energy, Adani Power, Power Grid Corporation, NTPC, Tata Power, and Torrent Power ranging between 8 per cent and over 90 per cent. In comparison, the frontline Sensex index has advanced around 6 per cent while the BSE Power Index added 17 per cent during the period, ACE Equity data show.
On Tuesday, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011, in intra-day trade. Among individual stocks, Adani Power hit a record high of Rs 151, soaring 19 per cent in intra-day trade on Tuesday, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 per cent each on the BSE. In comparison, the benchmark S&P BSE Sensex was down 0.17 per cent.
In the past one week alone, the S&P BSE Power index has surged 6 per cent, against less than 1 per cent gain in the benchmark index after Ministry of Power (MoP) released a discussion paper on the implementation of Market-Based Economic Dispatch (MBED) which argues for redesigning of day- ahead scheduling of electricity markets in the country on a market based / integrated approach in order to realise the ‘One Nation, One Grid, One Frequency, One Price’ framework.
www.indiarightnownews.com/bse-power-index-hits-over-10-ye...
BSE Power index hits over 10-year high; analysts advise booking profit
Shares of power generation and distribution companies have rewarded investors handsomely over the past two months with returns of Reliance Infrastructure, JSW Energy, Adani Power, Power Grid Corporation, NTPC, Tata Power, and Torrent Power ranging between 8 per cent and over 90 per cent. In comparison, the frontline Sensex index has advanced around 6 per cent while the BSE Power Index added 17 per cent during the period, ACE Equity data show.
On Tuesday, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011, in intra-day trade. Among individual stocks, Adani Power hit a record high of Rs 151, soaring 19 per cent in intra-day trade on Tuesday, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 per cent each on the BSE. In comparison, the benchmark S&P BSE Sensex was down 0.17 per cent.
In the past one week alone, the S&P BSE Power index has surged 6 per cent, against less than 1 per cent gain in the benchmark index after Ministry of Power (MoP) released a discussion paper on the implementation of Market-Based Economic Dispatch (MBED) which argues for redesigning of day- ahead scheduling of electricity markets in the country on a market based / integrated approach in order to realise the ‘One Nation, One Grid, One Frequency, One Price’ framework.
www.indiarightnownews.com/bse-power-index-hits-over-10-ye...