Reliance Power ( Rpower) rose over 3% to Rs93.30 and Hindalco Industries gained over 5% touching the weekly high of Rs120.20, on reports the government has removed roadblocks to coal mining by these companies.
Detailed story:
A group of ministers recommended to the cabinet on Wednesday that Reliance Power's Chhatrasal block, which is attached to the 4,000 megawatts (MW) Sasan Ultra Mega Power Project, and Mahan block for captive use by Hindalco and Essar should be given forest clearance, subject to some conditions.
The projects have been mired in controversy after the Comptroller and Auditor General of India said in a leaked draft report that the government had given undue benefits to private companies by handing out coal blocks, a charge vehemently denied by the coal ministry and Prime Minister Manmohan Singh.
At 10.32 am, Hindalco Industries was trading at Rs118.75, up by 3.85%, with a volume of 12.63 lakh shares on the BSE.
....more info
Detailed story:
A group of ministers recommended to the cabinet on Wednesday that Reliance Power's Chhatrasal block, which is attached to the 4,000 megawatts (MW) Sasan Ultra Mega Power Project, and Mahan block for captive use by Hindalco and Essar should be given forest clearance, subject to some conditions.
The projects have been mired in controversy after the Comptroller and Auditor General of India said in a leaked draft report that the government had given undue benefits to private companies by handing out coal blocks, a charge vehemently denied by the coal ministry and Prime Minister Manmohan Singh.
At 10.32 am, Hindalco Industries was trading at Rs118.75, up by 3.85%, with a volume of 12.63 lakh shares on the BSE.
....more info