India's SJVN, Railtel and NHPC gain on special status from government

NHPC

02/09/2024 09:11

** Shares of SJVN  SJVN.NS , NHPC  NHPC.NS , and Railtel
Corp  RAIT.NS  are up between 1.4% and 2% 
    ** Public sector companies on Friday said they got
"Navratna" status from India government 
    ** Navratna status is given to public sector companies with
strong financial position, and allows them to make investment up
to 10 billion rupees ($120 million) without requiring government
approval 
    ** Earlier in the session, stocks rose as much as 5% before
paring some gains 
    ** SJVN and NHPC up around 50% YTD, while RAIT has gained
47% 


($1 = 83.9000 Indian rupees)

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))