The CERC draft regulations came as a shocker for shares of power generation and transmission companies. Some 20 of the 27 stocks ended in the red on BSE on Tuesday.
NTPC tanked the most, a record 11.26%, or Rs17.25, to close at Rs. 136, its deepest dive in six years, while Gujarat Industries Power fell 6.65%, or Rs4.20, to Rs59.
Similarly, Torrent Power, JP Power, Adani Power and Reliance Power lost 3-5%. Collectively, investors in NTPC stood poorer by Rs14,223.42 crore at the end of the day, even as the market capitialisation of the power-related stocks tanked by Rs 18,185 crore.
Shares of Power Grid Corporation whose follow-on public offer price has been fixed at Rs 90 per share, ended with an over 3% loss, while its price on the secondary market closed at Rs98.30.