Apart from the government’s reiteration of its stand on the ‘One Nation, One Grid’ policy, the Budget had very little for the power sector. If any, it wasn’t directionally encouraging for the traditional coal-fed power plants as the minister emphasised the intent to shift to alternative energy, a factor detrimental to the industry as a whole and particularly for NTPC, given that it is India’s largest power producer with significant thermal concentration.
There are other factors too, which don’t work in favour of NTPC and Power Grid Corporation of India (PGCIL).
For instance, NTPC’s plant load factor — an indicator