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Long Term Buy Call For Adani Power

(Thu, 09/02/2010)

Stock market analyst Gaurang Shah of Geojit BNP Paribas has maintained ‘buy’ rating on Adani Power Ltd stock with long term target of Rs 160.

According to analyst, the investors can achieve the said target within period of 12-18 months.

The stock of the company, on Sep 01, closed at Rs 138.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 144.45 and a low of Rs 92 on BSE.

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Buy NTPC With Stop Loss Of Rs 191

(Wed, 09/01/2010)

Stock market analyst Hitesh Chotalia has maintained ‘buy’ rating on NTPC Ltd stock to achieve an intraday target of Rs 205.

According to analyst, the interested investors can buy the stock with strict stop loss of Rs 191.

The stock of the company, on August 31, closed at Rs 195.75 on the Bombay Stock Exchange (BSE).

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U.S. Exim Bank to finance $900m Reliance Power project

(Fri, 08/27/2010)

Reliance Power received a $900 million loan from the US Export-Import Bank for establishing a coal-fired power plant in India.

The USEIB apparently reversed a prior decision and refused the funding request when its Board of Directors voted in majority to give a nod to the loan for the 3,960 megawatt Sasanpower plant in the state of Madhya Pradesh.

Reportedly, the USEIB’s earlier rejection to fund the project was due to criticism of the power plant by environmental committees, whose argument was that the project would emit carbon dioxide to the atmosphere and add to global warming.

Even though the funding has been decided, a nod from the U. S. Congress for the project is still awaited.

The bank’s President Fred Hochberg is optimistic, and said the bank is glad at Reliance’s efforts towards the renewable energy project. This project is the biggest financing supported by USEIB to any Indian corporation.

The aim of the loan is that Reliance Power will make use of the loan guarantee to give support to the sale and export by Wisconsin-based Bucyrus International for mining equipment.

NTPC to get compensation for hydro unit, shares rise

(Tue, 24/08/10)

It may have lost a unit, but the things are not taking bad shape for the state-run power company, NTPC. Just two days after the group of ministers scrapped its controversial Loharinag Pala hydro project, there is news that it will be fully compensated for the loss that it faced.

The total capacity of the Pala hydro project was 660 MW and has been betting big on it to make its position stronger in the hydro-power division. Now, the Union Power Minister, Sushil Kumar Shinde has said that he would try his best to get NTPC the full compensation.

Talking to the media, Shinde said that his ministry will be writing to the cabinet in this respect and expects that all the investment of rupees 65 crore that NTPC has made in the plant will be given back to it. But, if the overall investment is looked at then it will be close to rupees 2000 crore.

Finance Minister Pranab Mukherjee along with other ministers had scrapped the project on Friday last week. This happened after the locals protested against it.

Post the declaration, NTPC’s shares went up by more than 8 per cent at 13:00 hours

Big power sector players oppose imposition of 14% levy

(Mon, 16/08/10)

In what can be called an expected move, almost all the major power players have shown their opposition to the imposition of 14 per cent levy of custom duty on foreign equipments. These are the ones that are used for generating power.

The list includes bug names like Reliance Power, Tata Power, Essar Power, AES India, and Adani, to name a few.

While the government says that the duty has been imposed to be able to control the access of relatively cheaper and bad quality Chinese goods; the players are saying that it will hamper the production. This, they say, will impact badly the already power-deficient nation.

The proposal has not yet been approved by the cabinet and analysts say that it will help domestic players like BHEL and Larsen & Toubro. But, power companies like Reliance Power, who are totally dependent on Chinese products are going to face the heat.

The Association of Power Producers (APP) submitted a letter to the Prime Minister. In it the power companies have written all their woes and demanded the PM to look into the matter.

NHPC Q1 net profit rises 7%at Rs 537.42 crore in Q1

(Friday, 13/08/10)

State-run hydro power generator NHPC has declared its financial results for the first quarter the fiscal year 2010-11. According to the company, it has registered a marginal 7% rise in the net profit figure in the quarter under review.

NHPC is the largest hydro producing company of the country. It has an installed capacity of 5,295 MW in India. NHPC has posted a net profit of Rs 537.42 crore for the quarter that ended in 30th June, 2010.

The company has posted a net profit of Rs 502.10 crore in the similar quarter in the previous fiscal year of 2009-10. In a filing, NHPC has informed this at the Bombay Stock Exchange. However, the company’s net sales have dropped in this June quarter of the year.

The net sales of the company have recorded Rs 1,019.71 crore during the April-June quarter of fiscal year 2010-11 as compared to Rs 1,060.26 crore in its like period a year ago.

However, last week the company has started its 120 ME Sewa-II project in Jammu and Kashmir.

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