Power stocks are trading in fine fettle on the bourses on report that under government's ambitious Sagarmala project has said that Coastal movement of coal could cut power costs by 50 paisa per unit for power plants besides saving Rs 17,000 crore annually.
NTPC is currently trading at Rs. 160.90, up by 0.65 points or 0.41% from its previous closing of Rs. 160.25 on the BSE. The scrip opened at Rs. 160.25 and has touched a high and low of Rs. 161.00 and Rs. 159.70 respectively. So far 44810 shares were traded on the counter.
Power Grid Corporation of India is currently trading at Rs. 182.05, up by 4.15 points or 2.33% from its previous closing of Rs. 177.90 on the BSE. The scrip opened at Rs. 179.00 and has touched a high and low of Rs. 183.05 and Rs. 178.80 respectively. So far 101320 shares were traded on the counter.
Adani Power is currently trading at Rs. 26.90, up by 0.10 points or 0.37% from its previous closing of Rs. 26.80 on the BSE. The scrip opened at Rs. 26.95 and has touched a high and low of Rs. 27.05 and Rs. 26.50 respectively. So far 160126 shares were traded on the counter.
Sagarmala is an ambitious port-led infrastructure development programme of the government to harness India's 7,500-km coastline and its perspective plan was launched by Prime Minister Narendra Modi in April.
Using the right infrastructure and institutional support, India can coastally move 190 to 200 million tonne per annum (MTPA) of coal, and save around Rs 17,000 crore per annum, by 2025.
In 2013-14, nearly 740 MTPA of coal moved through the country predominantly through rail and of this barely 23 MTPA moved through coastal shipping even though this mode costs one-sixth that of rail cost at about 20 paisa per tonne against about Rs 1.2 per tonne.