The power companies had earlier claimed that due to increase in price of coal imported from Indonesia, they were not being able to pass on the compensatory tariffs to consumers due to the PPA's.

While the Adani Power stock closed 18.73% or 6.65 points higher at 42.15, the Tata Power stock rose 12.40% to 77.50 level. The Adani Power stock rose 23.66% intra day to 43.90 and Tata Power stock rose 24.95% intra day to 86.15 level.

Some big accounts are in the process of getting resolved while some more are lined up for resolution under the Insolvency and Bankruptcy Code (IBC).

Essar plans to legally challenge the creditor panel's decision to pick ArcelorMittal, as it believes its offer would ensure 100 per cent recovery for lenders while accepting ArcelorMittal's offer would entail a haircut.

The Committee of Creditors of Essar Steel accepted the joint offer made by ArcelorMittal and Japan's Nippon Steel.

Ruias are believed to have a back-to-back agreement with Russia's VTB group to raise Rs 55,000 crore as loan at 2-3 per cent interest.