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Tata Power gains five per cent on CERC decision to allow tariff hike
Shares in Tata Power gained as much as 5 per cent in trade after electricity regulator, CERC allowed he company to hike tariffs.
The CERC allowed Tata Power to raise tariffs and receive compensation to make up for losses incurred at its flagship Mundra plant in Gujarat.
The regulator said that Tata Power should be reimbursed Rs 330 crore for the fiscal year that ended in March 2013. Tata Power will also be allowed to raise tariffs for the current fiscal year for electricity generated from Mundra.
The shares of Tata Power were last at Rs 82 on the National Stock Exchange.
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