NTPC Green shares declined 3% on Monday to trade at Rs 95.05 apiece, after jumping 10% in one week despite broader weakness in the stock markets. JSW Energy shares declined around 2%, while Tata Power shares fell over 1% in the morning. Both these stocks have gained around 5% in one week.
Temperatures have seen an unusual rise as spring gradually fades away to welcome the summer season. The World Meteorological Organisation (WMO) said that there is a widespread signal for above-average land surface temperatures during the March-May period due to various climatic conditions.
Within the first 10 days of March, the weather department has issued three heatwave warnings for Mumbai. Temperatures in Delhi remained heightened as well, along with other key cities. Rajkot in Gujarat recorded 42°C on Tuesday last week, topping charts this year so far.
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“Given the current geopolitical developments, we envisage a higher probability of a scenario of persistently high LNG prices and intense summer leading to a spike in coal-fired generation to meet evening demand,” JM Financial said.
“There is a high probability of a shortfall in hydro generation during the upcoming summer due to a deficit in winter rainfall and snow cover. Shortages in LNG supplies add to supply challenges, impacting gas-fired generation (9GW capacity, currently online). Hence, we expect implementation of Section 11 or some other mechanism to enable operationalisation of ICB along with continued higher utilisation (PLF) of existing thermal power plants,” it added.
Temperatures, however, have slightly dropped recently, as IMD warned of thunderstorms, rainfall and gusty winds across several parts of the country. Heavy rainfall is expected in parts of North-east and eastern India over the next few days.
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Defying the predictions, temperature conditions over the past 24 hours have remained significantly above normal in several regions, according to IMD. The highest temperature of 41.6°C was recorded in Akola, Vidarbha. Day temperatures ranged between 38°C and 41°C in parts of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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