Power Sector - FY17 witnessed strong capacity addition of 17.5GW (131% of target) - Emkay

* Generation increased 5.5% YoY in March 2017 primarily due to onset of summer and incremental capacity. Growth was driven by 6.0% YoY and 12.3% YoY rise in generation across the coal based plant and Hydro plants respectively.

* The overall industry PLF was flat at 43.6%. PLF declined across the Gas and Nuclear segment witnessing a 314 bps and 1378 bps YoY fall respectively. PLF acros

29/04/2017 10:31:26 AM | Posted in Broking Firm Views - Sector Report read full news
Buy Power grid corp Ltd For Target Rs.225.00 - Reliance Se

STOCK IN FOCUS

* Power grid corp. is on track to achieve huge capex plan till FY22 as total work in hand expected at Rs1.4trln, including ongoing projects, new projects and TBCB projects worth Rs1.1trln, Rs130bn and Rs160bn, respectively.

* Aided by higher capitalisation and better execution, Power Grid Corporation of India (PGCIL) has repor

28/04/2017 3:17:14 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy JSW Energy Ltd For Target Rs.70.00 - Reliance Se

STOCK IN FOCUS

* JSW Energy recent acquisition of 1,391MW hydel capacity led to total 4,531MW generation capacity from 3,140MW that aided good revenue performance but reported PAT continue to decline on account of lower realization, higher interest cost, depreciation costs and loss in hydro assets.

* We believe that the negatives relating to

27/04/2017 2:57:48 PM | Posted in Broking Firm Views - Short Term Report read full news
Tata Power inks pact for electricity distribution in Ajmer

Tata Power said that it has signed an agreement with Ajmer Vidyut Vitran Nigam Ltd (AVVNL) for electricity distribution in Ajmer for 20 years. "Tata Power signed the Distribution Franchise Agreement (DFA) with AVVNL to cater to power requirements of customers in Ajmer for a period of 20 years," Tata Power said in a regulatory filing.

Subsequent to winning the bid for distrib

Neutral On Havells India Ltd For Target Rs.425.00 - Motilal Oswal

* During the quarter, Havells acquired the consumer durables segment of Lloyd Electric and Engineering Limited for an enterprise value of INR16b on a debt-free, cash-free basis. Lloyd’s consumer durables arm has an annual turnover of INR12.4b.

* Standalone revenue is expected to register growth of 8% YoY. We expect the cables segment, which contributes 41% of the company’s

21/04/2017 3:28:23 PM | Posted in Broking Firm Views - Long Term Report read full news
Buy Torrent Power Ltd For Target Rs.242.00 - Reliance Sec

* Torrent Power reversed after taking support of its medium-term moving average 50-day EMA and also 61.8% Fibonacci Retracement level of recent rally (Rs191-242) and rose to 7 days high.

* Key technical indicators-Stochastic and RSI moving higher post their positive cross-over.

* As per the current daily set-up, we believe that stock will remain in positive momentum and soon

21/04/2017 11:52:00 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy Bharat Electronics Ltd For Target Rs.180.00 - Motilal Oswal

* Bharat Electronics (BHE) has received an offset contract from Elbit Systems for supply of 10 units of CoMPASS systems for use in the light combat helicopters being manufactured by HAL.

* BHE has launched a remote-controlled weapon system for MBT Arjun MK II, a weapon control system for 12.7mm gun of MBT Arjun MK II battle tank.

* BHE registered provisional revenue of INR88

20/04/2017 3:45:53 PM | Posted in Broking Firm Views - Long Term Report read full news
Neutral On ABB Ltd For Target Rs.1,190.00 - Motilal Oswal

* ABB has received an order of INR43.5b from PGCIL to set up a transmission link between Raigarh and Pugular with 800KV HVDC systems.

* ABB continues to focus on increased localization and cost optimization. Its direct RM costs have declined to 64.5% of revenue from a peak of 81% in 4QCY10, well below its internal target of 65%. This has aided margins, despite negative operating lever

20/04/2017 3:31:43 PM | Posted in Broking Firm Views - Long Term Report read full news
Amended mega power policy to give breather to banks: India Ratings and Research

The extension by five years for complying with the Mega Power Policy 2009 norms will reduce contingent liabilities and free up banking limits to 25 mega power projects, thus granting them a fresh lease of life, says India Ratings and Research (Ind-Ra). Ind-Ra opined that this will also in turn free up banks’ potential exposure to the power sector by around 3.50 per cent or Rs 40 billion,

Power Sector - Continued Muted Demand & Higher Fuel Cost Continue to Impact Profitability - Reliance Sec

Power Sector – Continued Muted Demand & Higher Fuel Cost Continue to Impact Profitability

All-India power demand increased by 3.3% YoY to 292bn units in 4QFY17 as against 282bn units in 4QFY16. While hydel power generation rose by 8.6% YoY, thermal power generation grew by 2.9% YoY during the quarter. All-India PLF for thermal sector stood at

20/04/2017 2:43:52 PM | Posted in Broking Firm Views - Sector Report read full news
Derivative Ideas POWERGRID Ltd For Target Rs.238.00 - Religare Sec

Derivative Ideas

POWERGRID added around 10% of open interest as long positions. Daily vwap is around 207.50 lev-els...Fresh long build up in scrip, and break out above 204 suggest stock might rise to around 240 in the short term.

 

Strategy:

Buy power grid april @207-2

20/04/2017 10:00:19 AM | Posted in Broking Firm Views - Short Term Report read full news
Coal supply by CIL to power sector increased 1.3% in 2016-17

The supply of coal by state-owned CIL to power sector increased by 1.3 per cent to 420.2 million tonnes (MT) in 2016-17, reported PTI. The increase in supply comes at a time when demand of coal by the power sector has picked up on back of economy doing well. Coal India Ltd (CIL) which accounts for over 80 per cent of the domestic coal production had dispatched 414.7 MT of fuel in FY 2015-16, ac

Bharat Electronics hits 52-week high on heavy volume

Shares of Bharat Electronics, a state-run aerospace and defence company, rallied over 6 per cent, hitting 52-week high, on the Bombay Stock Exchange amid spurt in volume trade.

According to data available with exchange, as much as 0.78 crore shares exchanged hands on BSE and NSE so far. Driven by surge in volume trade, shares of company gained as much as 6.14 per cent to hit 52-week h

Buy Reliance Power Ltd For Target Rs.59.00 - Emkay

Lower PLF and PAF impacted Q4 result

* PAT at Rs2.2bn (+251% YoY) was below our estimates of Rs3.1bn, primarily due to lower than anticipated realization and higher other expenses during the quarter. Lower generation across Rosa and Butibori also impacted blended realization during Q4FY17.

* Sasan’s PLF in Q4FY17 declined to 91.0% vs 94

19/04/2017 12:40:26 PM | Posted in Broking Firm Views - Long Term Report read full news
NTPC JV to cut power supply to 3 states over pending dues

A joint venture of state-run NTPC has decided to snap power supply to three states of Tamil Nadu, Karnataka and Telangana from its Vallure thermal station over non-payment of dues of Rs 1,388 crore.

The NTPC Tamil Nadu Energy Company Ltd (NTECL) has issued a notice for regulation of power supply to Tamil Nadu, Telangana and Karnataka to the extent of 1,229 MW from its Vallur Thermal P

ABB India bags Rs 178 cr contract in Bangladesh

ABB India said that it has bagged a contract worth Rs 178 crore from Power Grid Corporation of Bangladesh (PGCB) for setting up two new sub-stations and upgrading two existing ones.

"ABB India has won an order worth around Rs 178 crore, from PGCB to support the country's power infrastructure expansion and meet its growing electricity needs," the company said in a stateme

Rays Power commissions 78 MW solar project in Uttarakhand

Solar solutions provider Rays Power Infra said that it has commissioned 78 MW of solar PV project in Uttarakhand. The 78 MW project comes under Uttarakhand Renewable Energy Development Agency's (UREDA) competitive bidding for 2015-16 and will supply energy to the industrial areas of Bhagwanpur and Roorkee, the company said in a statement.

Commenting on the development, Rays Power

Delhi Metro and MPPMC sign agreement for Rewa solar power

Delhi Metro Railways Corporation (DMRC) and Madhya Pradesh Power Management Company (MPPMC) signed power purchase agreement with Rewa Ultra Mega Solar Limited, the implementing agency for the ‘world’s largest single¬site solar power project’, the Rewa Ultra Mega Solar Power Project (UMSPP, 750MW) in Bhopal on Monday.

Dignitaries present on the occasion were Union

Buy Power Grid Corporation of India Ltd For Target Rs.215.00 - Religare Sec

Power Grid Corporation of India Limited

After consolidating in a narrow range near its short-term moving average on daily chart, POWERGRID has formed a buying pivot with decent rise in volume, indicates accumulation. We advise traders to initiate long trades as per the mentioned levels.

 

Recommendation<

18/04/2017 11:26:50 AM | Posted in Broking Firm Views - Short Term Report read full news
BHEL commissions 2 thermal units in Maharashtra

State-run Bharat Heavy Electricals Ltd (BHEL) on Monday said it has successfully commissioned 2 units of 270 MW at RattanIndia Nasik Power Ltd’s 5x270 MW thermal power project in Maharashtra. “BHEL has successfully commissioned two units of 270 MW at RattanIndia Nasik Power Limited’s 5x270 MW thermal power project, located at Sinnar in Nasik district of Maharashtra,” the

NTPC power generation cost drops 39.5 paise to below Rs 2/unit

The state-owned NTPC has managed to bring down its cost of electricity generation by an average 39.5 paise while for the Mauda project, it was a decline of Rs 1.65 per unit, mainly because of improvement in coal quality and supply. Data available with NTPC showed that the overall cost of power generation has come down to below Rs 2 last fiscal, driven by improved quality of coal and its supplie

Government to replace 7.7 GW old power projs with efficient plants

The Government of India has identified old power units totalling 7,738 MW capacity owned by the Centre and states for replacement with energy-efficient supercritical plants, which will generate a gross 18,560 MW, as per the media reports. Commenting on the development, a senior official said, quoted PTI that, “The government has identified 7,738 MW inefficient thermal plants, which would

Buy Reliance Power Ltd For Target Rs.59.00 - Emkay

Lower PLF and PAF impacted Q4 result

* PAT at Rs2.2bn (+251% YoY) was below our estimates of Rs3.1bn, primarily due to lower than anticipated realization and higher other expenses during the quarter. Lower generation across Rosa and Butibori also impacted blended realization during Q4FY17.

* Sasan’s PLF in Q4FY17 declined to 91.0% vs 94

17/04/2017 11:36:10 AM | Posted in Broking Firm Views - Long Term Report read full news
Kudankulam n-plant I shut down for refuelling

The first 1,000 MW unit in Kudankulam Nuclear Power Project (KNPP) belonging to Nuclear Power Corporation of India Ltd (NPCIL) was shut down for around two months for refuelling purposes on Thursday, said a senior official.

Kudankulam is in Tirunelveli district around 650 km from here and NPCIL has two 1,000 MW nuclear power plants there built with Russian equipments.

"

Nuclear Fuel Complex breaks own world record of production

The Nuclear Fuel Complex (NFC), part of the Department of Atomic Energy (DAE), on Thursday said it has set a new world record with production of 1512 Ametric tonnes (MT) of nuclear fuel in 2016-17, surpassing its own record

NFC in Hyderabad, which produces fuel assemblies required for all the operating nuclear power reactors in the country, became world's highest producer of