India's CESC rises as power regulatory commission approves purchase agreement

CESC

11/01/2024 04:22

** Shares of CESC  CESC.NS  rise nearly 2% 
    ** The electricity supplier said on Wednesday the Uttar Pradesh Electricity
Regulatory Commission approved a power purchase agreement (PPA)
    ** A PPA is for power procurement of 95 MW RTC power per annum for a period
of five years
    ** Avg analyst rating of CESC stock is "strong buy", as per LSEG data; PT of
108 rupees is below current market price
    ** Stock on track for a third weekly gain, if current trend holds
    ** Stock gained ~73% in 2023, while peers Tata Power Company  TTPW.NS  and
NTPC  NTPC.NS  climbed about 60% and 87%, respectively
    

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))