Rel Infra, Tata Power gain on tariff hike news…

Delhi power regulator cleared 22% tariff hike w.e.f. September 1. The last tariff hike in Delhi was made in 2009.

Reliance Infrastructure and Tata Power together control nearly 90% of Delhi power market.

Reliance Infrastructure and Tata Power shares gained substantially post announcement.

At 11:53 hrs Reliance Infrastructure was quoting at Rs 432.50, up Rs 15.80, or 3.79%. It touched an intraday high of Rs 437.80 and an intraday low of Rs 425. It was trading with volumes of 120,579 shares

At 11:53 hrs Tata Power Company was quoting at Rs 1,034.25, up Rs 21.80, or 2.15%. It touched an intraday high of Rs 1,043.90 and an intraday low of Rs 1,017. It was trading with volumes of 9,055 shares