Tata Power jumps 6% after regulator allows tariff hike

Shares of Tata Power Co rose as much as 5.9 per cent on Tuesday after India's central electricity regulator allowed the company to raise electricity tariffs on a temporary basis at its Mundra power plant in western India.

The Central Electricity Regulatory Commission on Monday allowed Coastal Gujarat Power Ltd, a unit of Tata Power, to charge "compensatory" tariffs on account of the rising cost of imported coal, the power utility said on Monday.

Tata Power shares were up 3.5 per cent as of 9:30 a.m.
 

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