Tata Power, Adani Power slump as SC sets aside tribunal order of allowing compensatory tariff

Shares of Tata Power reversed early gains to fall as much as 6.78 percent, while Adani Power slumped up to 20 percent to its lowest since 21 February.

Reuters April 11, 2017 15:17:38 IST
Tata Power, Adani Power slump as SC sets aside tribunal order of allowing compensatory tariff

The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd, sending down shares of both companies.

Tata Power Adani Power slump as SC sets aside tribunal order of allowing compensatory tariff

Reuters

Shares of Tata Power reversed early gains to fall as much as 6.78 percent, while Adani Power slumped up to 20 percent to its lowest since 21 February.

The tribunal, in April last year, had said that the two companies needed to be compensated as the change in Indonesian laws on coal export prices were outside the control of these companies.

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