India's power producers fall on media report about tariff cut

Written by Reuters | Updated: Jan 6 2014, 20:42pm hrs
Tata powerA cut in power tariff in Maharashtra would come after the ruling Aam Aadmi Party's push in Delhi to cut power tariff in the state (Reuters)
* Shares in India's power producers fall on media reports that the state government in Maharashtra, home to Mumbai, is planning to cut power tariffs.

* The Economic Times newspaper reported on Monday that Narayan Rane, the State Industries Minister, said a decision would be announced in eight days and the group of ministers set up by the government under Rane recommended that electricity tariff be cut by around 15 percent.

* The cut would be only for farmers, domestic consumers and small businesses consuming less than a set amount of electricity, the paper said. (http://link.reuters.com/fas75v)

* Tata Power Co Ltd falls 1.7 percent, while Reliance Infrastructure Ltd is down 1.3 percent.

* A cut in power tariff in Maharashtra would come after the ruling Aam Aadmi Party's push in Delhi to cut power tariff in the state.