PFC, REC surge on reform hopes

Shares in power sector lenders such as Power Finance Corp Ltd and Rural Electrification Corp Ltd gain on speculation the government is preparing to offer new incentives to revive stalled power projects.

" Power Finance Corporation will be the biggest beneficiary of reforms in the sector," said Kishor Ostwal, CMD, CNI research.

Expectations of good earnings by peer Rural Electrification Corporation (REC) later in the day, is also seen helping the stock.

PFC shares up 5.5 percent while REC rise 4.5 percent.

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