Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
Elaborating on this theme, Petroleum Minister Dharmendra Pradhan pointed out that if the power sector had not been opened up through reforms initiated in 2003, India would still have been in darkness.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
Dabhol has faced a series of catastrophic equipment failure and is currently battling thinning gas availability.
Talking to reporters after the meeting, NTPC chairman and managing director Arup Roy Choudhury said the company plans to invest Rs 20,000 crore (Rs 200 billion) in the current fiscal and was confident of the capex plan.
Nabinagar Power Generation Company Ltd is a joint venture of NTPC Ltd and Bihar State Electricity Board for this project.
The Tilaiya project is a part of the government's showcase UMPP scheme under which a power generation capacity of around 50,000 Mw is planned to be created through 13 of such mega projects, which will come up mostly in the Twelfth Plan period.
GAIL India will hold 28 per cent stake in the special purpose vehicle, being set up for the revival of $2.9 billion Dabhol power project.
NTPC to be the worst hit, stock slides to five-year low on announcement.
In the Sensex pack, losers included TCS, HUL, Tata Steel, HCL Tech, Infosys, Bajaj Finance, HDFC, IndusInd Bank, Asian Paints, ITC and Vedanta, shedding up to 3.70 per cent.
Yes Bank was the top loser in the Sensex pack cracking 6.51 per cent, followed by SBI, Axis Bank, Vedanta, Sun Pharma, ICICI Bank, IndusInd Bank, ITC, Infosys and Tech Mahindra, shedding up to 3.69 per cent.
Three more bodies were recovered Monday from the Tapovan tunnel, taking the toll in the Uttarakhand flash flood to 54 as hopes of finding survivors there over a week after the disaster dimmed.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
The heightened activity on permissions to power and mining projects, which had been stuck for long, coincides with the run-up to a likely reshuffle of the council of ministers this month.
The 980 MW (2x490 MW) Stage-II of the Dadri power project would supply electricity for the Commonwealth Games, next month.
The Power Ministry on Monday said it is against hiving off the LNG terminal from the Dabhol power plant.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Ratnagiri Gas and Power Pvt Ltd, the NTPC-GAIL joint venture that runs the Dabhol power plant, may have to shut down the project by end of this month due to fuel scarcity.
Terming the Dabhol Power project a "bump in the road", GE, a major stakeholder in the project, on Monday said delayed resolution has not affected the company's investment plans in India and suggested that NTPC should be given responsibility to operat
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
The plant has been shut since 2013 for want of domestic gas supplies.
Government is expected to rely more on divestment proceeds to keep the fiscal deficit in check
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
Dabhol power plant is a lesson on what to avoid while setting up large infrastructure projects.
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
Three public sector companies are planning to set up 60-80 megawatt solar plants with an investment of Rs 1,000-1,200 crore (Rs 10-12 billion). The projects will come up in Rajasthan, Punjab and the Leh region of Jammu and Kashmir.
Bengal will surge ahead on the path of development. Industrial infrastructure is being developed, said West Bengal chief minister Mamata Banerjee.
The S&P BSE Sensex has gained 149 points to open at 25,802.
'The competition between the two is definitely going to be of great interest to the Indian market.'
Top laggards in the Sensex pack included Kotak Bank, ICICI Bank, HDFC Bank, Tata Motors, L&T, SBI, Tata Steel and Axis Bank, falling up to 3.46 per cent.
The plant started operations after Supreme Court vacated a stay granted by Gujarat High Court on pooling of LNG prices to make fuel affordable to the power plant.
Cut to 2019, and his name evokes grief and anger among more than 40,000 homebuyers who are fighting for the keys to their flats, which they should have rightfully got more than seven years back.
New Delhi The government has decided not to sell the Dabhol power plant, which has been struggling thanks to huge debts it owes to the contractors.
'Geological processes occur at time scales that are beyond human imagination, but we need to understand these events.'
Modi government must fix policy paralysis.
Finance Ministry has written to the Power Ministry asking to freeze the completion costs of Dabhol plant.
