Most of them have reached to their 52-week high levels on two consecutive trading sessions-Friday and today.
The study on share prices of five utilities- CESC, BSES, Tata Power, Ahmedabad Electric and Surat Electric- showed that the closing price of CESC stock, during the period, went up by 94.29 per cent to Rs 83.45 on Friday.
The BSES stock increased by 17.22 per cent to Rs 430.40 while Tata Power, by 10.71 per cent to Rs 213.40 Share prices of Ahmedabad Electric rose by 11.16 per cent to Rs 76.15 while the Surat Electric stock appreciated by 21.65 per cent to Rs 161.80.
Three companies- BSES, Tata Power and Surat Electric touched their 52-week high level today while CESC reached its year-high level on Friday. The Ahmedabad stock had reached the 52-week high on June 11.
Stock brokers said the bull run was due to heavy purchase of power stocks by foreign financial institutions and domestic mutual funds.
