Power stocks gain after Delhi CMKejriwal quits

Tags: Companies
Shares of power companies gain after activist-turned-politician Arvind Kejriwal resigned as chief minister of Delhi on Friday, frustrated by obstacles put in the way of an anti-corruption bill.

Reliance Infrastructure Ltd gains 0.4 percent, while Tata Power Company Ltd is up 2.6 percent.

Kejriwal was elected in part on a promise of lowering electricity tariffs for millions of Delhi's voters and in December had asked the state auditor to look into the accounts of power distribution companies to see if they were profiteering.

The Delhi government had asked the region's power regulator to revoke the licences of two electricity distributors if they fail to supply power, drawing criticism from the companies.

Billionaire Anil Ambani's Reliance Infrastructure runs two electricity distribution companies in the national capital in a joint venture with the Delhi government.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture