Power Sector Update Shifting landscape transmitting power is better than moving coal - ICICI Sec

Shifting landscape – transmitting power is better than moving coal

Reason for the report: Sector update

India, in recent years, has been on a transmission infrastructure creation spree, in its attempts to overhaul the existing setup, electrify the entire country and create adequate power transmission capacity to meet th

29/06/2017 5:33:54 PM | Posted in Broking Firm Views - Sector Report read full news
Share of solar in electricity to rise by 2040: Niti Aayog

According to Government think-tank Niti Aayog's draft National Energy Policy (NEP), the rooftop solar set-ups would become the norm in the country by 2040. As per reports, the draft NEP has maintained that in an increased electricity share and in the immediate run-up towards universal coverage of electricity, it may not be viable to tap rooftop solar for homes. According to the draft, the s

Power Sector Update Sprouts of improvement visible, but data inconsistencies cause discomfort - ICICI Sec

Sprouts of improvement visible, but data inconsistencies cause discomfort

Reason for the report: Sector update

In this report, we take a look at how the various states are faring on the operational and financial parameters tracked under the Union government’s Ujwal DISCOM Assurance Yojana (UDAY), and the improvement the

29/06/2017 5:20:07 PM | Posted in Broking Firm Views - Sector Report read full news
Power demand & generation sees improvement in May: Reports

An India Ratings report has said that power demand and generation has improved in May, but declining coal stock may lead to power shortage. Commenting on the issue, an Ind-Ra Official told the media, "Power demand in May 2017 increased 6.3 per cent year on year to 105.5 billion units (BUs). Even after the sharp increase in year on year demand in May 2017, India was able to manage the power

No plans to make CIL arms into separate entities: Piyush Goyal

Union Power Minister Piyush Goyal has said that the Government is not considering any proposal to make Coal India arms into independent companies. As per reports, Government think tank Niti Aayog had suggested in its draft National Energy Policy to spin off Coal India's seven arms into independent firms and imbibe competition, saying the coal behemoth was supplying coal to consumers at high

Delayed 13K MW hydro projects to cost Rs 52,600 cr more: Study

Hydro power projects of 13,363 megawatt capacity are stranded at various stages of development and reported a cost overrun of Rs 52,697 crore, a study has found. "Despite significant hydropower potential, till now, only 30 per cent of India’s total economically feasible hydropower potential has been harnessed, the ASSOCHAM-PwC study titled. Accelerating hydropower development in Indi

Accumulate GE T&D India Ltd For Target Rs.372.00 - Emkay

Steady performance

* GE T&D's (GETD) operational performance exceeded our expectations. Revenues surged by 27% YoY led by strong execution. EBITDAM increased by 280 bps YoY and APAT increased by 71% YoY.

* Order inflow increased by 5%YoY and 28% for FY17. Order backlog remains strong at Rs81bn. Pricing continues to be under pressure a

29/06/2017 12:27:05 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Havells India Ltd For Target Rs.496.00 - Religare Sec

Havells India Limited

HAVELLS has rebounded today i.e. on June 27 after retesting the support area around 455 and looks upbeat to continue this recovery ahead also. Traders can use any intraday dip to go long in the given range.

28/06/2017 1:49:52 PM | Posted in Broking Firm Views - Short Term Report read full news

Renewable energy market to witness robust progress: Moody`s

Moody's Investors Service has said that India is moving towards meeting its commitments under the Paris agreement and its renewable energy market is likely to witness a strong growth over many years. Commenting on the issue, Moody's vice-president and senior analyst Abhishek Tyagi told the media, "However, renewable energy projects face challenges related to the weak credit quality

Buy Power Grid Corporation of India Ltd For Target Rs.241.00 - Emkay

Strong capitalisation will continue to drive growth ahead; Reiterate a BUY

* Capitalization came in at Rs150.3bn (above our estimate of Rs140.3bn) driven by strong commissioning of transmission lines during the quarter. Capitalisation in FY17 totaled to Rs310bn including Rs20bn capitalization of Tariff Based Competitive bidding project (TBCB)

27/06/2017 3:06:09 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy NTPC Ltd For Target Rs.192.00 - Reliance Se

STOCK IN FOCUS

* Looking ahead, we expect NTPC to add commercial capacity of 2.8GW and 6.0GW in FY18 and FY19, respectively which would lead to a significant jump in regulated equity from current level of Rs440bn.

* We continue to consider NTPC as one of the best placed companies in terms of fuel security, as most of its capacity offtake will

27/06/2017 12:02:04 PM | Posted in Broking Firm Views - Short Term Report read full news
Free power connections for Uttar Pradesh's urban poor

Below Poverty Line (BPL) card holders living in urban areas of Uttar Pradesh will be given free electricity connections, a Cabinet meeting presided over by Chief Minister Yogi Adityanath decided on Thursday.

Millions of poor people are likely to benefit from this decision.

The Cabinet, in its 12th meeting since the Bharatiya Janata Party government took over in March, also d

US to spend $7.5 mn to develop India`s power grid: Reports

The US Government has said that it will spend USD 7.5 million to help advance India's power grid, as part of the two countries' commitments to ensuring access to affordable and reliable energy. Commenting on the issue, US Energy Secretary Rick Perry told the media, “The Ministry of Science and Technology and industry will match the commitment of US' Department of Energy, bring

Sell Power Grid Corporation of India Ltd For Target Rs.193.00 - Reliance Se

* The stock has made multiple tops at 215 levels in the past few weeks and has closed at 2 weeks low.

* The key technical indicators and RSI has also reversed turning downwards and as the stock is in poised for a breakdown.

* The stock has closed near to its short term averages and we believe the stock will face lot of pressure at higher levels.

* Thus, short posit

22/06/2017 1:45:53 PM | Posted in Broking Firm Views - Short Term Report read full news
Veer Energy jumps 6% on plans to raise funds via QIP

Shares of Veer Energy & Infrastructure rallied nearly 6 per cent on the Bombay stock Exchange after the company said its board has approved the proposal to raise Rs 2.65 crore through preliminary placement of equity shares to qualified institutional buyers.

Following the development, shares of the company gained as much as 5.98 per cent to hit intra-day high of Rs 23.05 apiece on

NHPC signs MoU with Ministry of Power for 2017-18

India's premier hydropower utility and a Mini Ratna Enterprise, NHPC Limited has said that it has signed a Memorandum of Understanding (MoU) with Ministry of Power, Government of India for the year 2017-18.

“The MoU was signed by Pradeep Kumar Pujari, Secretary, Ministry of Power, Government of India and K M Singh, CMD, NHPC in the presence of senior dignitaries from MOP and

Wind, solar projects to lead to three lakh new jobs: Study

More than 300,000 new workers can be employed in wind and solar jobs and more than one million total employment opportunities can be created in achieving India's ambitious clean energy goals to install 160 GW of renewable power by 2022, a study said on Wednesday.

The labour-intensive rooftop solar segment will employ 70 per cent of the new workforce, creating seven times more jobs

EESL plans Rs 6,000 crore capex during 2017-18 fiscal

State-run Energy Efficiency Services Limited (EESL) plans to invest Rs 6,000 crore as capital expenditure during the 2017-18 fiscal year.

EESL's Managing Director Saurabh Kumar told reporters here on Wednesday that they plan to fund this massive capex through Rs 1,200 crore equity and Rs 4,800 crore debt.

While the company has equity of Rs 485 crore, about Rs 520 crore w

Hold TD Power Systems Ltd For Target Rs.228.00 - Emkay

Turning the corner

*  TD Power Systems (TDPS) Q4FY17 operational performance exceeded our expectations. Revenues increased by 8% YoY. Both EBITDA and APAT was positive at Rs102mn and Rs80mn respectively. Manufacturing revenues increased by 20% YoY while project revenues declined by 8%YoY.

*  Order inflows (manufacturing) in Q4FY17 d

21/06/2017 4:12:59 PM | Posted in Broking Firm Views - Long Term Report read full news
CG Power and Industrial Solutions to sell its US power biz

CG Power and Industrial Solutions Ltd, formerly known as Crompton Greaves, on Wednesday said it has accepted the binding offer of Weg SA for acquisition of the company’s power business in USA at an enterprise value of USD 37 million.

In a filing to the Bombay Stock Exchange, CG Power and Industrial Solutions said, “The company has accepted a binding offer of WEG S.A for ac

Reliance Defence enters into partnership with Yugoimport of Serbia

Reliance Infrastructure (RInfra) promoted Reliance Defence Ammunition has entered into a strategic partnership with Yugoimport of Serbia for ammunition manufacturing in India, a company statement said here on Tuesday.

The two companies will work together in the field of ammunition, amongst others, with projected minimum requirement of Rs 20,000 crore over the next 10 years from Indian

GE Power appoints Andrew H. DeLeone as an Additional Director

GE Power India said that it has appointed Andrew H. DeLeone as an Additional Director of the Company with effect from 20 June 2017. “The Board of Directors of the Company in its meeting held on 20 June 2017 (today) has appointed Mr. Andrew H.

DeLeone as an Additional Director of the Company with effect from 20 June 2017,” the company said in a filing to the Bombay Stock Ex

Energy Sector update OMCs marketing profitability remains flat in past four years - Kotak Sec

When the tide turns...

We remain wary of the Street’s assumption of robust increase in marketing profitability for downstream PSUs noting risks from rising participation of the private players in fuel retailing business. Weaker-than-expected marketing margins could pose material downside risks to consensus estimates for HPCL>BPCL>IOCL. We

20/06/2017 3:39:34 PM | Posted in Broking Firm Views - Sector Report read full news
Neutral V-Guard Industries Ltd For Target Rs.167.00 - Motilal Oswal

Margins to face near term pressure; Growth intact

* EBITDA and PAT below estimates: VGRD reported revenue of INR6.23b (est. INR5.64b) in 4QFY17 as against INR5.13b in 4QFY16 marking a YoY growth of 21.4% led by strong growth in products like Pumps (up 28%), stabilizers (up 18%) and fans (up 17%) on the onset of a strong summer season.

20/06/2017 3:01:06 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold Gujarat Industries Power Ltd For Target Rs.113.00 - Emkay

Lowered earnings to factor in nonrenewal of Vadodara II PPA

* GIPCL reported strong Q4FY17 earnings (above our estimate). Fuel cost declined due to non-operation of Vadodara II unit and other income increased due receipt of penalty and insurance claim from equipment providers. PAT increased 34.3% YoY to Rs826mn.

* PLF increased marginally acr

20/06/2017 2:25:30 PM | Posted in Broking Firm Views - Long Term Report read full news