In December, the government asked state-run GAIL (India) and NTPC to increase imports of natural gas to supplement power generation.
With India's biggest gas importer Petronet LNG Ltd (PLL) signing a revised contract with RasGas of Qatar, Harshvardhan Dole, Vice President Institutional Equities, IIFL sees a three-fold benefits flowing in for the company.
With the distribution segment still remaining a problem area, the government is contemplating competition in the distribution space, which would be a big advantage for consumers who can buy power from the company of their choice, said Pradeep Kumar Sinha, secretary, Ministry of Power.
On to the day's trading action, a volatile session on Dalal Street ended with marginal gains for major indices. Sensex gained nearly 50 points as it sits comfortably above the 28,000 mark. The Nifty gained just over 10 points. The index is now just a few points away from regaining the 8,500 level.
The oil and power ministry are seeking financial aid for stranded gas-based power plants.