Mumbai, Nov 18 : The Sensex slipped 381.95 points or 1.5 percent at 25482.52, whereas the Nifty slumped 105.75 points or 1.3 percent at 7731.80 due to the spooked sell-off in the European markets that dragged benchmark indices.
GAIL, Bharti Airtel, NTPC, Coal India and Sun Pharma were among the top gainers while Hindalco, Infosys, Tata Steel, Vedanta and SBI were the major laggards.
Moody’s Investors Service in a statement today said the state-run NTPC will benefit from improving operating environment for India’s power sector and revival scheme UDAY for debt-ridden distribution companies.
“The improving coal environment and proposed debt reduction program should boost the ability of offtakers to buy electricity, which will in turn increase NTPC’s utilisation rates and incentive income,” said Abhishek Tyagi, Moody’s Vice President and Senior Analyst.
He further said the government’s sale of a five percent stake in the NTPC will not affect our assessment of the support for the company. (ANI)