The shares of power equipment manufacturers such as Bharat Heavy Electricals Limited and Larsen and Turbo were up surged during the last trade on the Bombay Stock Exchange.
Considering 20% import duty on power equipment for the project above 1000 Mega Watts by Cabinet Committee on Economic Affairs have left a space for the domestic power generation equipment manufacturers to receive more orders.
At present, power generation equipment for projects below 1,000 MW bears a duty of 5% while there is almost nil duty on equipment for projects above 1,000 MW.
Post the news release, the shares of BHEL were up 4.4% to Rs.316.80 per share while Larsen and Turbo was soared 0.17% to Rs.1451.15 in the buoyant Mumbai market.
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