TOP CORPORATE NEWS-24 FEB

TOP CORPORATE NEWS

·        NTPC tanks 11%, hits 7.7-year low on CERC norms

                                                                                        

NTPC tanked 11.5 percent, hitting 7.7-year low as the Central Electricity Regulatory Commission final regulations for FY15-19 provides no respite to the company. The norms will fix tariffs for the power sector for the next five years. Tightening of norms for NTPC will erode most of the incentives, the state-run power producer enjoyed.

·        Reliance Power gains after favorable order from CERC

Reliance Power rose 1.03% to Rs 63.75 after the company received favorable order from the electricity regulator in connection with the petition filed by Sasan Power, the company's wholly owned subsidiary.

·        SKS Micro up 4% as co completes Rs 158 cr securitization

Investors are lapping up shares of SKS Microfinance after the company announced the seventh substantial microfinance securitisation during the current financial year of Rs 158.27 crore.

·        IDFC drops amid volatility as RBI bans fresh FII investment

                                                    

IDFC lost 1% to Rs 94.20 after the Reserve Bank of India after trading hours said that no further purchases of shares of the company will be allowed on behalf of foreign institutional investors.