RailTel, SJVN, and NHPC have been awarded 'Navratna' status, sparking significant market interest and stock surges.
Following their upgrade, RailTel and SJVN shares spiked over 5%, while NHPC saw a 4.5% increase as of 11:26 AM.
'Navratna' status enables these companies to invest up to Rs 1,000 crore without needing government approval.
The upgrade highlights strong financial performance, with significant profit growth in Q1 2024 for RailTel, SJVN, and NHPC.
With these upgrades, the number of 'Navratna' companies in India reaches 25, which significantly expands their autonomy.