Delhi discom parents Reliance Infra, Tata Power see red
10 Feb 2015 11:12 PM GMT
Shares of Reliance Infrastructure and Tata Power, which supply electricity in the national capital, came under heavy selling pressure on Monday after exit polls suggested that Aam Aadmi Party (AAP) may win Delhi polls.
The results would be announced on Tuesday for the Delhi Assembly Elections, which were held on Saturday. Exit polls have suggested that an AAP government could be formed and there are widespread expectations that it may order inspection of the two discoms and also provide cheaper power in the national capital. The stocks of Reliance Infrastructure and Tata Power — which operate power distribution companies in joint ventures with Delhi government — declined on concerns that such steps could adversely hit these companies.
The results would be announced on Tuesday for the Delhi Assembly Elections, which were held on Saturday. Exit polls have suggested that an AAP government could be formed and there are widespread expectations that it may order inspection of the two discoms and also provide cheaper power in the national capital. The stocks of Reliance Infrastructure and Tata Power — which operate power distribution companies in joint ventures with Delhi government — declined on concerns that such steps could adversely hit these companies.
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