Power stocks gain after Delhi chief minister Arvind Kejriwal quits
Reliance Infrastructure Ltd gained 0.4 per cent, while Tata Power Company LtdBSE 4.81 % was up 2.6 per cent.
Kejriwal was elected in part on a promise of lowering electricity tariffs for millions of Delhi’s voters and in December had asked the state auditor to look into the accounts of power distribution
The Delhi government had asked the region’s power regulator to revoke the licences of two electricity distributors if they fail to supply power, drawing criticism from the companies.
Billionaire Anil Ambani’s Reliance Infrastructure runs two electricity distribution companies in the national capital in a joint venture with the Delhi government.