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Power sector stocks, particularly market leader NTPC, gained sharply on Wednesday.

According to market men, reports of the Supreme Court clearing the hurdle for the India’s biggest IPO Reliance Power lifted the sentiment for these stocks.

Once the Reliance Power initial public offering sails through in the primary market, the whole sector would see renewed interest, say brokers. This would also ignite fresh re-rating of this sector, analysts tracking power sector opined.

Reliance Power’s IPO would hit the market on January 15 for raising an estimated Rs 11,700 crore. The IPO closes on January 18 and the company has fixed a price band of Rs 405-450 per share.

According to analysts, NTPC is quoting cheap considering the pricing of Reliance Power IPO and would attract re-rating.

NTPC on Wednesday closed with a gain of about 4.4 per cent, while Godawari Power moved up by 2.7 per cent, Power Finance Corporation 1.29 per cent and Torrent Power rose 2.03 per cent.

K.S. Badri Narayanan

More Stories on : Power | Stocks | Ear to the ground | IPOs

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