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February 8, 2001 		Feedback  
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Power stocks rise on budget reform hopes

Shares of Indian power generation and distribution companies surged on Thursday morning on hopes that the government will unveil reforms in power transmission and distribution in the forthcoming budget due on February 28, fund managers said.

Tata Power jumped 9.84 per cent to Rs 145.60, CESC Ltd surged 7.92 per cent to Rs 29.30 and BSES rose by as mush as 5.91 per cent to Rs 250.90.

The 30-issue benchmark Bombay index was up 0.97 per cent at 4354.80 points.

"We expect the government to announce some reforms aimed at the power transmission and distribution sectors, which will improve profitability of such companies," said a chief investment officer of a foreign mutual fund.

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