 "Adani Power shares jump 15% amid report of tariff hikes")
Mumbai: Shares of Adani Power today soared nearly 15 percent in early trade amid a media report that power sector regulator CERC gave a breather to the company on the issue of supply of electricity from its imported coal-based power project at Mundra in Gujarat.
Following the buzz, shares of the company opened higher and further jumped 14.72 percent to Rs 50.25 on the BSE. At NSE, the scrip zoomed 14.87 percent to Rs 50.20. Led by the sharp uptick in the share price, the market value of the company shot-up by Rs 1,376 crore to Rs 11,846 crore.
Buying was also seen in other power companies, with Tata Power trading 4.67 percent higher and Reliance Power (3.12 percent). As per a media report, CERC called for a variable compensatory tariff akin to a compensation package to be offered to Adani Power till the fuel situation stabilises.
Meanwhile, in the broader market the BSE benchmark Sensex was trading at 19,010.89, down 30.06 points at 1140 hrs
PTI
 "Adani Wilmar files draft red herring prospectus with SEBI for Rs 4,500 crore IPO")
 "Adani Power reports Rs 1,312 cr loss during Q4, total income declines; FY20 net loss widens to Rs 2,275 cr")
 "Chinese president Xi Jinping says Beijing wants trade deal with US, but is not afraid to 'fight back'")
 "Without substantial progress thermal power plants get environment clearance extension")
 "Adani Wilmar files draft red herring prospectus with SEBI for Rs 4,500 crore IPO")
 "Adani Power reports Rs 1,312 cr loss during Q4, total income declines; FY20 net loss widens to Rs 2,275 cr")
 "Chinese president Xi Jinping says Beijing wants trade deal with US, but is not afraid to 'fight back'")
 "Without substantial progress thermal power plants get environment clearance extension")