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Buy CESC Limited For Target Rs.105 For Target - We re-iterate BUY on CESC with Sep’24 TP of Rs105 as operational metrics continues to see improvement. During July and August 2023 cumulatively, CESC License Generation power plant and HEL power plant (1,125MW + 600MW capacity) generated 2,030MUs (16% growth YoY) vs 8% YTD. CESC’s DIL power plant (600 MW capacity) has seen generation growth of 27% YoY during the first two months of 2QFY24 (YTD ~13% growth YoY). YTD PLF for DIL stands at 90% vs 80% YoY. Rajasthan DFs had reported p...
Buy CESC Limited For Target Rs.105 For Target -
Buy CESC Limited For Target Rs.105 For Target -
Source: Emkay Global Financial Services Ltd
9/09/2023 11:53:31 AM
Buy CESC Ltd For Target Rs.105 - Emkay Global Financial We re-iterate BUY on CESC with Sep’24 TP of Rs105 as operational metrics continues to see improvement. During July and August 2023 cumulatively, CESC License Generation power plant and HEL power plant (1,125MW + 600MW capacity) generated 2,030MUs (16% growth YoY) vs 8% YTD. CESC’s DIL power plant (600 MW capacity) has seen generation growth of 27% YoY during the first two months of 2QFY24 (YTD ~13% growth YoY). YTD PLF for DIL stands at 90% vs 80% YoY. Rajasthan DFs had reported p...
Buy CESC Ltd For Target Rs.105 - Emkay Global Financial
Buy CESC Ltd For Target Rs.105 - Emkay Global Financial
Source: Emkay Global Financial Services
8/09/2023 3:28:15 PM
Buy CESC Limited For Target Rs. 100 For Target - JM Financial Institutional Securities Good operations over-shadowed by regulatory complexity   CESC reported consolidated net revenue of INR 35.4bn (+6% YoY, +3% JMFe) during 4QFY23, led by steady growth in power demand across all circles. EBITDA came in at INR 9.5bn (+15% JMFe), benefiting from higher regulatory income during the quarter. However, EBITDA ex-regulatory income stood at INR 5.1bn, which is 5% below JMFe. CESC reported PAT of INR 4.5bn (flattish YoY, +41% JMFe) largely led by growth in other income and im...
Buy CESC Limited For Target Rs. 100 For Target - JM Financial Institutional Securities
Buy CESC Limited For Target Rs. 100 For Target - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
8/06/2023 4:00:48 PM
India`s CESC posts rise in Q4 profit as demand for electricity grows Indian power generation and distribution company CESC Ltd reported a 2.1% rise in quarterly profit on Monday, aided by higher electricity output ahead of summer. Consolidated net profit for the quarter ended March 31 increased to 4.33 billion rupees ($52.95 million), compared with 4.24 billion rupees a year earlier, the RP - Sanjiv Goenka Group flagship company said in an exchange filing. Revenue from operations came in at 31.02 billion rupees, compared with 30.11 billion rupees a year ...
India`s CESC posts rise in Q4 profit as demand for electricity grows
India`s CESC posts rise in Q4 profit as demand for electricity grows
Source: Reuters
22/05/2023 3:24:30 PM
Buy CESC Limited For Target Rs. 75 For Target - ICICI Securities CESC’s reported consolidated revenues for Q3FY23 were up 11.3% YoY to Rs34.6bn, while EBITDA was flat YoY at Rs8.3bn and PAT down 3% YoY at Rs3.2bn. Key factorsimpacting consolidated profit during Q3FY23 included: 1) 104% YoY increase in Noida Power profit at Rs550mn on higher power demand and incentives; 2) steady performance of the Kolkata distribution business; 3) 14.5% YoY decline in profit of Haldia plant at Rs710mn (as the regulator is yet to allow pass-through of higher coal cost...
Buy CESC Limited For Target Rs. 75 For Target - ICICI Securities
Buy CESC Limited For Target Rs. 75 For Target - ICICI Securities
Source: ICICI Securities
24/03/2023 2:14:51 PM
Buy CESC Limited For Target Rs. 100 For Target - JM Financial Institutional Securities It’s business as usual CESC reported consolidated net revenue of INR 34.6bn (+11% YoY, -12% JMFe) during 3QFY23 led by steady growth in power demand across all circles. EBITDA came in at INR 8.2bn (+10% JMFe) benefiting from lower cost of power purchased. CESC reported PAT of INR 3.1bn (-3% YoY, +30%JMFe) largely led by growth in other income. The Board of Directors has declared an interim dividend of INR 4.5/sh. The company continued its focus on T&D loss reduction which remains...
Buy CESC Limited For Target Rs. 100 For Target - JM Financial Institutional Securities
Buy CESC Limited For Target Rs. 100 For Target - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
23/02/2023 2:21:30 PM
Indian Bank jumps on introducing QR code bill payment system for CESC Indian Bank is currently trading at Rs. 287.95, up by 3.20 points or 1.12% from its previous closing of Rs. 284.75 on the BSE. The scrip opened at Rs. 287.90 and has touched a high and low of Rs. 290.50 and Rs. 284.30 respectively. So far 46007 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 306.00 on 14-Dec-2022 and a 52 week low of Rs. 130.15 on 24-Feb-2022. Last one week high and low of the scrip stood at Rs...
Indian Bank jumps on introducing QR code bill payment system for CESC
Indian Bank jumps on introducing QR code bill payment system for CESC
Source: Accord Fintech
2/01/2023 12:22:43 PM
Buy CESC Ltd For Target Rs.101 - Emkay Global Financial Growth, the key concern CESC reported standalone PAT of Rs2.43bn for the quarter, up 3.4% YoY and in line with our estimates. Consolidated PAT came in at Rs3.2bn, down from Rs3.4bn YoY due to lower profit at Haldia Energy. Dhariwal Infrastructure has reported 1HFY23 PAT at Rs1.15bn vs Rs590mn YoY, while Noida PAT came in at Rs750mn vs Rs520mn during the same period. Performance of Distribution segments of Rajasthan and Malegaon was not enthusing. Malegaon reported loss of Rs480mn vs los...
Buy CESC Ltd For Target Rs.101 - Emkay Global Financial
Buy CESC Ltd For Target Rs.101 - Emkay Global Financial
Source: Emkay Global Financial Services Ltd
18/11/2022 2:51:58 PM
CESC gains on getting nod to raise Rs 300 crore via NCDs CESC is currently trading at Rs. 74.75, up by 0.20 points or 0.27% from its previous closing of Rs. 74.55 on the BSE. The scrip opened at Rs. 74.55 and has touched a high and low of Rs. 75.60 and Rs. 74.55 respectively. So far 88896 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 94.50 on 06-Jan-2022 and a 52 week low of Rs. 68.00 on 21-Jun-2022. Last one week high and low of the scrip stood at Rs. 77.00 and Rs....
CESC gains on getting nod to raise Rs 300 crore via NCDs
CESC gains on getting nod to raise Rs 300 crore via NCDs
Source: Accord Fintech
16/11/2022 4:00:55 PM
Buy CESC Ltd For Target Rs.108 - Emkay Global Financial Services T&D loss remains key for profitability of distribution franchisees * In the past few years, CESC has secured the distribution franchisees (DF) for four states – namely Bikaner, Bharatpur, Kota, and Malegaon. However, these still remain a drag on the company’s performance due to various reasons including Covid. * In FY22, Kota incurred loss of Rs410mn and Malegaon suffered loss of Rs575mn. While Malegaon circle is yet to complete three years, Kota has been reporting loss ...
Buy CESC Ltd For Target Rs.108 - Emkay Global Financial Services
Buy CESC Ltd For Target Rs.108 - Emkay Global Financial Services
Source: Emkay Global Financial Services
26/09/2022 12:10:23 PM
Buy CESC Ltd For Target Rs. 120 - ICICI Securities Stable quarter despite regulatory overhang Rs80 CESC reported stable earnings in Q1FY23. On consolidated basis, while its reported revenues were up 28.1% YoY to Rs42.5bn, PAT was up 5.5% YoY at Rs2.9bn. Key factors impacting consolidated profit during Q1FY23 included: 1) no profit growth for Kolkata distribution business since CESC did not hike tariffs as per the recent tariff order award; 2) increase in power sales in all distribution areas; 3) 49% increase in Noida Power’s profit; ...
Buy CESC Ltd For Target Rs. 120 - ICICI Securities
Buy CESC Ltd For Target Rs. 120 - ICICI Securities
Source: ICICI Securities Ltd
12/08/2022 1:28:51 PM
CESC Q4 net profit down 4.07% at Rs 259.00 cr The company reported standalone net profit of Rs 259.00 crore for the quarter ended March 31, 2022 as compared to Rs 270.00 crore in the same period last year, registering a year-on-year decline of 4.07 per cent. Net revenue of the company declined marginally by 4.62 per cent at Rs 1,610.00 crore in January-March quarter of this fiscal as against Rs 1,688.00 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 4.06 per cent to Rs 1,434....
CESC Q4 net profit down 4.07% at Rs 259.00 cr
CESC Q4 net profit down 4.07% at Rs 259.00 cr
Source: Dion Global Solutions Ltd
14/05/2022 11:50:58 AM
Buy CESC Ltd For Target Rs.101 - Emkay Global Attractive valuations * CESC has corrected ~12% in the last one and a half months since the FY19-20 tariff order for the Kolkata license area came out. Investors are mainly concerned about the nonconsideration of interest on short-term borrowings and working capital in the present tariff, though WBERC has clearly mentioned submitting details in APR. WBERC will examine the necessity of such loans on the tariff gap during the year and will decide accordingly. We believe that it will be event...
Buy CESC Ltd For Target Rs.101 - Emkay Global
Buy CESC Ltd For Target Rs.101 - Emkay Global
Source: Emkay Global Financial Services Ltd
24/03/2022 2:12:21 PM
Buy CESC Ltd For Target Rs.120 - ICICI Securities Stable quarter CESC has reported steady earnings in its consolidated business in Q3FY22. Its revenues were up 15.3% YoY to Rs31.1bn while PAT increased 1.5% YoY to Rs3.3bn. On standalone basis, revenues were up 5.1% YoY to Rs18.6bn while PAT increased 1.1% YoY to Rs1.8bn. Key factors impacting the consolidated profits during Q3FY22 included: 1) lower RoE for Kolkata distribution business since the tariff order remains pending, due to which incremental RoE is not being booked; 2) high merch...
Buy CESC Ltd For Target Rs.120 - ICICI Securities
Buy CESC Ltd For Target Rs.120 - ICICI Securities
Source: ICICI Securities Ltd
19/01/2022 10:11:40 AM
Buy CESC Ltd For Target Rs.101 - Emkay Global Stable quarter Result Highlights * Standalone PAT for the quarter stood at Rs1.84bn in Q3 - up 1% YoY and in line with our estimate. Flat earnings were largely on account of the delay in Tariff order for the Kolkata license area. We believe that once the Tariff order comes, there will be decent growth in standalone earnings. * CESC also reported stable earnings for the majority of its subsidiaries. Dhariwal Infrastructure posted strong earnings – 9M PAT of Rs1,090mn vs. Rs750mn...
Buy CESC Ltd For Target Rs.101 - Emkay Global
Buy CESC Ltd For Target Rs.101 - Emkay Global
Source: Emkay Global Financial Services Ltd
15/01/2022 9:23:12 AM
Buy CESC Ltd For Target Rs.120 - ICICI Securities DF businesses’ performance improve CESC has reported steady earnings for its consolidated business in Q2FY22. While PBT was up 14% YoY at Rs4.8bn, PAT was 9.5% lower YoY at Rs3.4bn due to lower tax (deferred tax reversal) in Q2FY21. On standalone basis, PBT was up 53.8% YoY at Rs3.1bn, PAT was 3.1% up YoY at Rs2.4bn. Demand at Kolkata distribution area was up 5% YoY and was strong at Noida as well. Chandrapur’s profit increased further by 48% YoY to Rs340mn aided by reduced int...
Buy CESC Ltd For Target Rs.120 - ICICI Securities
Buy CESC Ltd For Target Rs.120 - ICICI Securities
Source: ICICI Securities Ltd
22/12/2021 10:16:09 AM
Buy CESC Ltd For Target Rs.108 - Edelweiss Financial Services Digitalising distribution growth ahead At its maiden analyst meet, CESC’s top management unveiled its growth strategy. It: i) predominantly pertains to the distribution business; and ii) advocates embracing newer technologies to be future-ready. Management does not foresee RE as a long-term bet. Further, in a bid to assure investors, promoters assured non-utilisation of resources of listed companies for Lucknow IPL franchisee buyout. CESC’s growth hinges on its ability to wi...
Buy CESC Ltd For Target Rs.108 - Edelweiss Financial Services
Buy CESC Ltd For Target Rs.108 - Edelweiss Financial Services
Source: Edelweiss Financial Services Ltd
26/11/2021 11:15:41 AM
Buy CESC Ltd For Target Rs.120 - ICICI Securities Distribution business to be the key growth driver Rs84 We participated in RP-SG Group’s virtual investor conference on 22nd Nov’21 in which CESC explained in detail its ongoing technological digitalisation initiatives, and laid out its growth strategy. Despite key systems in place, CESC aims to become more digital and flexible on the distribution front, improving its system and consumer understanding so that capex is done on just-in-time basis resulting in higher returns. Its m...
Buy CESC Ltd For Target Rs.120 - ICICI Securities
Buy CESC Ltd For Target Rs.120 - ICICI Securities
Source: ICICI Securities
23/11/2021 11:50:04 AM
Buy CESC Ltd For Target Rs.890 - Motilal Oswal S/A miss on higher-than-expected expenses DFs’ performance improves; Dhariwal remains profitable * CESC’s S/A 1Q results highlight a modest profitability improvement. Volumes for S/A improved 23% YoY (on a low base), but S/A PAT was up just 3% YoY. Consol. PAT, on the other hand, rose 37% YoY on lower losses in its Distribution Franchise (DF) business. * Dhariwal has turned profitable and DFs are showing signs of a turnaround. CESC’s integrated business in Kolkata i...
Buy CESC Ltd For Target Rs.890 - Motilal Oswal
Buy CESC Ltd For Target Rs.890 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
27/09/2021 12:49:36 PM
Torrent Power acquires 156 MW wind power plants from CESC Limited Torrent Power Limited has entered into a Share Purchase Agreement with CESC Limited, Haldia Energy Limited and other nominal shareholders for the acquisition of 100 per cent of the share capital of Surya Vidyut Limited (the SPV), wholly owned subsidiary of CESC Limited. Surya Vidyut operates 156 MW Wind power plants (the Projects), spread across the states of Gujarat, Rajasthan and Madhya Pradesh. Long-term Power Purchase Agreements (PPAs) for the Projects are with respective State Disc...
Torrent Power acquires 156 MW wind power plants from CESC Limited
Torrent Power acquires 156 MW wind power plants from CESC Limited
Source: IANS
22/09/2021 9:40:38 AM
Buy CESC Ltd For Target Rs.905 - Motilal Oswal Expanding its distribution footprint * CESC has emerged as the highest bidder for a 100% stake in Chandigarh Distribution Company (DISCOM). The takeover would be subject to the completion of certain formalities, as per the company. The receipt of the Letter of Intent (LOI) for the same is still pending. * The move is in line with the co.’s strategy to grow its presence within the Distribution space. With a healthy balance sheet (net debt/equity: 1.2x) and strong expertise, the com...
Buy CESC Ltd For Target Rs.905 - Motilal Oswal
Buy CESC Ltd For Target Rs.905 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
9/09/2021 11:51:33 AM
CESC inches up on reporting 34% jump in Q1 consolidated net profit CESC is currently trading at Rs. 759.00, up by 2.55 points or 0.34% from its previous closing of Rs. 756.45 on the BSE. The scrip opened at Rs. 759.90 and has touched a high and low of Rs. 780.00 and Rs. 756.60 respectively. So far 5781 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 871.00 on 14-Jul-2021 and a 52 week low of Rs. 553.10 on 22-Dec-2020. Last one week high and low of the scrip stood at Rs. 787.75...
CESC inches up on reporting 34% jump in Q1 consolidated net profit
CESC inches up on reporting 34% jump in Q1 consolidated net profit
Source: Accord Fintech
12/08/2021 9:50:36 AM
Buy CESC Ltd For Target Rs.1,131 - ICICI Securities At deep discount vs peers The West Bengal Electricity Regulatory Commission (WBERC) has started issuing tariff orders, which bodes well for CESC Kolkata discom’s tariff approval. With the anticipated issue of the order, and approval of capex incurred in the past three years and of future capex as well, we expect ambiguity in CESC’s earnings and valuation to diminish and the stock to rerate. Despite its higher profits, RoE and FCF yield, CESC currently trades at 52% / 70% disco...
Buy CESC Ltd For Target Rs.1,131 - ICICI Securities
Buy CESC Ltd For Target Rs.1,131 - ICICI Securities
Source: ICICI Securities Ltd
24/07/2021 10:18:58 AM
Buy CESC Ltd For Target Rs. 903 - ICICI Securities Good earnings in a challenging environment CESC has reported better-than-estimated earnings for its consolidated business in Q4FY21. Standalone / consolidated PAT came in at Rs2.7bn / Rs4.2bn, down 3.6% / up 8% YoY, mainly due to strong Kolkata operations, where T&D losses were lower than normative at 8.3% and power sales were 5.8% higher. As a result, Haldia’s PLF continued to be strong. Chandrapur turned PAT positive in FY21 (Rs1,060mn PAT vs loss of Rs100mn in FY20) aided by r...
Buy CESC Ltd For Target Rs. 903 - ICICI Securities
Buy CESC Ltd For Target Rs. 903 - ICICI Securities
Source: ICICI Securities
15/07/2021 10:03:12 AM
Buy CESC Ltd For Target Rs. 905 - Motilal Oswal Modest recovery in the standalone business Dhariwal turns profitable, performance of DFs to improve * CESC’s 4QFY21 result highlights a modest recovery in the standalone business. Volumes in the standalone entity improved, but grew just 6% YoY on a low base. Standalone PAT rose 8% YoY, while consolidated PAT fell 4%, led by lower profit at Dhariwal and Crescent and Surya. * Dhariwal has turned profitable, and DFs are showing signs of improvement. CESC’s integrated busines...
Buy CESC Ltd For Target Rs. 905 - Motilal Oswal
Buy CESC Ltd For Target Rs. 905 - Motilal Oswal
Source: Motilal Oswal Financial Services
6/07/2021 10:42:51 AM
Buy CESC Ltd For Target Rs. 883 - ICICI Securities Next rerating candidate? With the overhang of West Bengal elections now over, we expect the West Bengal Electricity Regulatory Commission (WBERC) to expedite the issuance of tariff order for CESC’s Kolkata discom, which has been pending for the past three years (MoP’s recent directive on timely tariff determination and full cost reflectiveness of tariff will help). Although, on consolidated basis, CESC’s earnings have improved on better performance by subsidiaries, pro...
Buy CESC Ltd For Target Rs. 883 - ICICI Securities
Buy CESC Ltd For Target Rs. 883 - ICICI Securities
Source: ICICI Securities Ltd
18/05/2021 9:28:17 AM
LKP Spade, Weekly Pick - Buy CESC Ltd For Target Rs. 700 - LKP Securities * Stock has given strong range breakout on four hour chart. * Good volume activity has been seen at the time of breakout which shows strength. * Both momentum indicator RSI & MACD are ranging in positive territory. Buy CESC LTD @ 658-662 TGT 700 Stop Loss Below Rs. 623 CB Duration 1 Week   To Read Complete Report & Disclaimer Click Here   For More  LKP Securities Ltd Disclaimer  http://w...
LKP Spade, Weekly Pick - Buy CESC Ltd For Target Rs. 700 - LKP Securities
LKP Spade, Weekly Pick - Buy CESC Ltd For Target Rs. 700 - LKP Securities
Source: LKP Securities Ltd
10/05/2021 12:06:39 PM
Weekly Tech Picks - MOIL Limited, CESC Limited, Bharti Airtel Limited, Indo Count Industries Limited By Axis Securities MOIL Limited Buy Range 172-168 CMP 175 SL 162 Upside 10% -15% * On the weekly chart, the stock has witnessed three years “Multiple Resistance Zone” breakout around 170 levels on a weekly closing basis which signals strong comeback of bulls * Huge volumes on the weekly chart, signals increased participation near breakout zone MOIL Limited Weekly Tech Picks 07 May 2021 * On the weekly time frame, the stock has witnessed “Bollinger Band” b...
Weekly Tech Picks - MOIL Limited, CESC Limited, Bharti Airtel Limited, Indo Count Industries Limited By Axis Securities
Weekly Tech Picks - MOIL Limited, CESC Limited, Bharti Airtel Limited, Indo Count Industries Limited By Axis Securities
Source: Axis Securities Ltd
8/05/2021 5:21:20 PM
Buy CESC Ltd For Target Rs.873 - Motilal Oswal S/A improves as demand recovers Dhariwal, DF performances continue to improve * CESC’s 3Q results highlight volume recovery in the S/A business. Volumes in S/A were just 1% YoY lower (v/s 1H: -21% YoY). S/A PAT was up 3% YoY. Consol. PAT, on the other hand, grew 21% YoY, partly led by profit at Dhariwal and improved performance at Crescent & Surya. * Performances at Dhariwal and distribution franchises (DFs) would continue to improve. Furthermore, the co. has declared an ...
Buy CESC Ltd For Target Rs.873 - Motilal Oswal
Buy CESC Ltd For Target Rs.873 - Motilal Oswal
Source: Motilal Oswal Finacial Services Ltd
26/01/2021 10:13:29 AM