Power stocks rise on 1,150 kV project approval
In short
Power stocks rose on Friday after reports said the National Committee on Transmission approved a 1,150 kV transmission project worth ₹68,816 crore. Siemens Energy and GE Vernova climbed as much as 5%.
The project news lifted sentiment in the power sector and gave related stocks a boost.
What the reporting says
Power stocks gained on Friday after reports said the National Committee on Transmission approved a first-of-its-kind 1,150 kV transmission project worth ₹68,816 crore. Siemens Energy and GE Vernova rose as much as 5% in the session. The report lifted sentiment across the power space by tying the move to a large transmission investment.
Why it matters
The power sector rallied after reports that the National Committee on Transmission approved a first-of-its-kind 1,150 kV transmission project worth ₹68,816 crore. Siemens Energy and GE Vernova were among the gainers, rising up to 5% intraday. The move matters for power equipment and transmission-linked companies because the project signals large future demand.