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Tuesday, 11 April 2017

CESC likely to announce business restructuring scheme in May

The Rs 32,000-crore RP-Sanjiv Goenka group may announce the "business restructuring scheme" of its flagship power company CESC in May, a company source said on Monday. The restructuring scheme is "ready" and the company will likely create separate entities for the two verticals-generation and distribution.

"CESC is keen to time the recast announcement along with the financial results in the third week of May," the company source said. According to the source, the city-based power utility, going forward, will focus significantly more on distribution operations.

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