Market movers: Power shortages drive demand for PSUs NLC India, Coal India

NEW DELHI: Power shortages may be hurting many, but some companies are reaping benefits as states scramble to secure more power from various sources. One such company is NLC India.

Media reports, citing sources, reported that Tamil Nadu is set to purchase power to the tune of 6000 MW to overcome the shortage in the months of April and May. Other than power vendors, Tangedco has also approached the Neyveli Lignite Corporation (NLC) to buy power.

Sources in Tangedco told IANS that the state electricity department has communicated to the NLC to provide 1500 MW of power to it if requirements arise.

Following the news, the stock climbed more than 4 per cent to end at Rs 76.

More power to coal?
Coal India said amid the spiraling power generation, it raised its supplies to thermal power stations by 14.2% during the first half of April’22 compared to same period last April. Its supplies have hit 1.64 million tonnes (MTs) per day during this period against 1.43 MTs of similar period April’21.

The country’s total power generation was 9.5 percent higher, at an average of 4.53 Billion Units (BU), till 15th April’22 over same period last year. The increase was 400 million units per day against the average generation of 4.13 BU for the comparative period.

However, the escalating power demand driven up by the post pandemic economic buoyancy and hotter than normal summer seem to dwarf the upsurge in power and coal supplies. Nonetheless, shares of the company spiked another 5 per cent to 198.

Pennar gets orders worth its m-cap
Pennar Industries that is active in engineering and construction products, on Tuesday said it has received Rs 498 crore worth of order form a host of companies during the past two months. The company’s market cap is around Rs 550 crore.


The orders that it received are to its various verticals and businesses. They are expected to be executed within the next two quarters. Following the disclosure, the stock climbed nearly 2 per cent.