Power sector stocks jump in trade after Nuclear Energy Mission and power sector reforms

Shares of power infrastructure companies like BHEL, L&T, and Power Grid Corporation of India came into the limelight after FM announced the Nuclear Energy Mission. BHEL and L&T jumped more than 3.4% following the announcement.

In addition, power-related stocks like Tata Power, Adani Power, NTPC, and NHPC also jumped nearly 3% in trade as they stand to benefit from the power sector reforms. Apart from that stocks like Thermax, Walchandnagar Industries, KSB ltd and Kirloskar brothers also gained momemtum in todays trade.

The Finance Minister said,"A nuclear energy mission is vital for India's development, with a goal of at least 100 gigawatts of nuclear energy by 2047 to support our energy transition. This will involve active collaboration with the private sector. Amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act are planned to facilitate the nuclear energy mission".

Apart from the Nuclear Energy Mission, the FM also announced to operationlise five indegenously build small modular reactors by 2033. The Nuclear Energy Mission and other measures ensures smooth transision to nuclear energy with increased private participation.