Power stocks down on Tuesday after Maharashtra cabinet approved a 15-20% cut in power tariffs in all parts of the state except Mumbai.

Maharashtra Government to bear additional subsidy of Rs 7 billion/month.

Shares CESC dropped the most with fall of 2.76%, followed by BF Utilities (1.84%), Indowind Ener (1.47%), Torrent Power (1.15%), PTC India (0.91%), Tata Power (0.84%), NTPC (0.83%), Power Grid Corp (0.46%) and Adani Power (0.43%).