Many power stocks hyped up to 3 percent in the Intraday trading after the Union Budget announcement.
It might make everyone curious to know about that what exactly the budget came up with that made sudden drastic changes.
The Union Budget announced to give Rs 3.05 lakh crore package to revive the discoms or power distribution companies. Indian government has come up with a revamped reform scheme in the budget 2021.
In addition, the budget has also come up with introduction of a new framework where the consumers will be choosing their own power distributor. It is to break the current monopolistic structure in the states.
On the index front, the BSE Power index was high at 1320 hours, which is a percentage increase of 2 percent.
The market has literally cheered and welcomed the budget with lots of gains. The equity barometer Sensex made a high jump. The Sensex has crossed over 1700 points.
It was constructive budget that came up with pro-growth.
We can easily conclude that it has a focus on economic growth and job creation.
Although a 35 percent hike in capital expenditure indicates a good fortune. The private Capex will still take time to recover.
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