BHEL, NTPC jump 3% on FM's PSU partnership announcement
BHEL and NTPC jumped nearly 3% to Rs 314.25 and Rs 385, respectively, after Finance Minister Nirmala Sitharaman announced a partnership between the two PSU companies under the Energy Security Scheme in the Union Budget.
Sitharaman on Tuesday announced that NTPC and BHEL will set up an ultra-critical thermal power plant using AUSC Tech to promote one out of 9 Budget priorities of Energy security.
The government will provide support for the same, added Sitharaman.
Advanced Ultra Supercritical (AUSC) plants generate electricity more efficiently and with less pollution than traditional thermal power plants. However, they require special materials to withstand high-temperature and high-pressure conditions.
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The Modi Government 3.0 aims to prioritise 9 aspects in this Budget for FY24-25. These are in the areas of agriculture, employment, human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development and next generation reforms.
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On an average, post-Budget months have delivered returns of around 5.7% with sectors like materials, energy, staples, and industrials leading the
