Power stocks on a roll; PFC, REC, NTPC surge up to 9%, hit new highs

Shares of power and related companies were on a roll with state-owned NTPC, Power Finance Corporation (PFC), and REC surging up to 9 per cent and hitting new highs in Friday's intraday trade, after India's gross domestic product (GDP) grew at 7.6 per cent in the September quarter of 2023-24.

The GDP numbers outperformd expectations by a wide margin as manufacturing and construction activities expanded by double digits.

At 10:41 AM, the S&P BSE Power index, the top gainer among sectoral indices, was up 2.5 per cent, as compared to 0.68 per cent rise in the S&P BSE Sensex.