Shares of state-owned power companies like Bharat Heavy Electricals Limited (BHEL), NTPC and NHPC are in limelight trading higher by up to 8% after the Union Cabinet approved the methodology for auctioning coal blocks.
BHEL has surged over 7% at Rs 141 in late noon deals on back of heavy volumes. The stock opened at Rs 132 and hit a high of Rs 142 on BSE. A combined 18.11 million shares change hands on the counter till 1445 hours against an average around 10 million shares that were traded daily in past two weeks on BSE and NSE.
NHPC was up 3.2% at Rs 19.60, while NTPC by 2.5% at Rs 149 on the BSE.
The BSE Power index, the largest gainer among sectoral indices, was up 1.5% as compared to 0.38% decline in benchmark S&P BSE Sensex.
The Cabinet Committee on Economic Affairs (CCEA) Tuesday approved the methodology for auctioning coal blocks, providing for upfront and production-linked payments and benchmarking of coal sale prices, the PTI report suggests.
Coal blocks will be put for auction after the Environment Ministry reviews them, and bidders have to agree to a minimum work programme, according to an official statement.
BHEL has surged over 7% at Rs 141 in late noon deals on back of heavy volumes. The stock opened at Rs 132 and hit a high of Rs 142 on BSE. A combined 18.11 million shares change hands on the counter till 1445 hours against an average around 10 million shares that were traded daily in past two weeks on BSE and NSE.
NHPC was up 3.2% at Rs 19.60, while NTPC by 2.5% at Rs 149 on the BSE.
The BSE Power index, the largest gainer among sectoral indices, was up 1.5% as compared to 0.38% decline in benchmark S&P BSE Sensex.
The Cabinet Committee on Economic Affairs (CCEA) Tuesday approved the methodology for auctioning coal blocks, providing for upfront and production-linked payments and benchmarking of coal sale prices, the PTI report suggests.
Coal blocks will be put for auction after the Environment Ministry reviews them, and bidders have to agree to a minimum work programme, according to an official statement.
