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This is an archive article published on September 7, 2011
Power shares spark buying; Adani leads
Power utilities stocks have provided a good buying opportunity for investors.
1 min read
Power utilities gained in Wednesday market as the overall undervalued stocks have provided a good buying opportunity for investors,while positive regulatory action by certain states such as Delhi and Punjab aided the rise,dealers said.
These state regulators allowed utilities to hike tariffs last week,which will enable them to cut their losses,investment bank UBS said in its note.
Share prices of India power utilities under our coverage have corrected 37 percent year-to-date and we think attractive buying opportunities are emerging in the sector,UBS added.
The sectoral index rose over 2 percent,while the BSE benchmark was up 1.5 percent at 2:18 p.m.
The country’s largest utility by capacity,NTPC was up 2.03 percent,while private utility Tata Power rose 3.3 percent. Adani Power was up 6.5 percent.
Company INFO More on Adani Power
Stocks More on Tata Power
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