Power stocks rally on restructuring of loans for SEBs; BHEL up 6%

Power sector stocks such as BHEL, Tata Power, Power Finance Corp and REC registered smart gains in a choppy market on Monday on the hopes of restructuring of loans for state electricity boards. The market will be closely watching any update on debt restructuring in state electricity boards (SEBs), easier overseas borrowing and fate of reform proposals like higher foreign direct investment in the insurance sector this week. "Concrete announcements on the restructuring of SEB debt would boost power sector stocks. We could see some movement especially in many beaten-down shares, including those of utilities," said Sandip Sabharwal, CEO - PMS at Mumbai-based broker Prabhudas Lilladher, in an ET report. "The market looks directionally positive. But with the lack of further news flow, it could consolidate before eventually moving to new highs," he said more at: http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/power-stocks-rally-on-restructuring-of-loans-for-sebs-bhel-up-6/articleshow/16525387.cms