Tata Power shares down on profit-taking

Shares in Tata Power fell as much as 1.8 per cent, underperforming the benchmark index, on profit-taking after rising as much as 4.87 per cent on Monday on the back of the resignation of Arvind Kejriwal as chief minister of Delhi on Friday.

Mr Kejriwal was elected in part on a promise of lowering electricity tariffs for millions of Delhi's voters and in December had asked the state auditor to look into the accounts of power distribution companies to see if they were profiteering.

At 11:27 a.m., shares in Tata Power were down 1.6 per cent to Rs 76.20.