PTC India Ltd., the state-run electricity trader, surged by a record after a regulator proposed higher fees for electricity transactions.
PTC, the best performer on the BSE500 Index today, jumped 21 percent to 105.15 rupees as of 3:04 p.m. local time after climbing as much as 23 percent, its biggest gain since the stock’s trading debut in 2004. The shares are poised for their highest close since May 2008.
The Central Electricity Regulatory Commission proposed increasing the fee on power trading to 0.07 rupee per kilowatt- hour, from 0.04 rupee, when the sale exceeds 3 rupees (6 cents) a kilowatt-hour, according to a circular dated Oct. 12 on its Web site.
“The proposed changes for increasing trading margins if approved will be a big boost for power trading companies,” Mumbai-based Harshawardhan Dole, an analyst with IIFL Ltd., said in a phone interview today.
The regulator said in a separate notice it sought feedback of the draft rules by Nov. 11.
Cap on trading margins may be raised 75% http://www.livemint.com/2009/10/15010257/Cap-on-trading-margins-may-be.html?h=B
http://www.dnaindia.com/money/report_cap-on-trading-margins-up-75pct-ptc-to-benefit_1299087
