After opening flat, the Indian Indices are trading below the dotted line in the morning trading session. Power and Energy stocks are leading the gainers. Mid and small cap stocks are witnessing better buying interest than frontline stocks.
Power stocks are trading mixed today. JSW Energy and Power Grid are leading the gainers. As per a leading business daily, Tata Power's tariff petition for its 1,050 MW Maithon Power project in Jharkhand has been approved by the Central Electricity Regulatory Commission (CERC). The commission has formally approved the five year (FY11 to FY14) tariff petition of Maithon Power. It may be noted that Maithon Power a joint venture between Tata Power and Damodar Valley Corporation. The company has indicated that the new tariff would be applicable from the date of commercial operation of each of the generating units, and will help the company in meeting the targeted returns from the project.
In a separate development, the National Democratic Alliance (NDA) government has announced its blueprint for creating energy security in India which guarantees adequate supply of power too all and at affordable prices. As a big part of the strategy, minister for power, coal and energy Piyush Goyal has indicated that the government would move swiftly to revive coal mining. It will also work on a priority basis on increasing domestic production of gas and find other ways to ease the constraints on power companies. Reports peg that almost 16,000 MW of gas based power generating capacity is currently lying idle on account of want of gas.