Power scrips spurt up to 5%

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P. Chidambaram said about 50,000 MW of thermal and hydel power capacity is under construction. Reuters P. Chidambaram said about 50,000 MW of thermal and hydel power capacity is under construction. Reuters
SummaryP. Chidambaram said about 50,000 MW of thermal and hydel power capacity is under construction.

Power stocks today rose by as much as 5 per cent after Finance Minister P Chidambaram said about 50,000 MW of thermal and hydel power capacity is under construction.

Shares of BF Utilities Ltd surged 5 per cent, while Tata Power shot-up by 4.81 per cent on the BSE.

Similarly, Adani Power climbed 3.95 per cent and NTPC gained 1.10 per cent.

India's power generation capacity more than doubled to 2.34 lakh MW over the past decade, Finance Minister P Chidambaram said today.

"Ten years ago, the installed power capacity of the country was 1,12,700 MW and today it is 2,34,600 MW," Chidambaram said in his interim Budget speech in Parliament.

Additional capacities are being installed in major manufacturing industries such as steel, cement, refinery, power and electronics, Chidambaram added.

The Minister said about 50,000 MW of thermal and hydel power capacity is under construction. The government has also assured coal supply for 78,000 MW of power capacity.

The Ministry of Power has been allocated a corpus of Rs 9,768.50 crore in 2014-15 for funding schemes, including Rs 1,520.39 crore loans for power projects and Rs 62.95 crore loans for projects in Northeast India.

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