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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
 Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw Tata Power’s net sales in the December 2009 quarter dip 12 per cent year-on-year to Rs 1,528 crore. Operating income and net profits, however, surged 42 per cent and 28 per cent to Rs 364 crore and Rs 148 crore, respectively.
The dip in realisations can be attributed to passing of lower fuel costs to consumers, while the closure of two units in Trombay meant that power generation was flat in spite of 500 Mw of capacity added in 2009. Fuel costs per unit of electricity generated declined from Rs 3.31 in the December 2008 quarter to Rs 2.46 for the latest quarter.
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“TATA is on track to nearly double its generation capacity to 5,800 Mw by end of 2011-12”
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A change in fuel mix in favour of gas led to a 26 per cent saving in fuel costs. This was partly passed to consumers resulting in realisations falling 12 per cent year-on-year to Rs 4.1 a unit in the quarter from Rs 4.7 in the year ago period. Average tariffs for merchant sales also dropped to Rs 5.37-6.21 from Rs 5.5-6.5 in previous quarters, according to analysts. Operationally, generation and sales remained flat. Overall, Earnings Before Interest, Taxes, Depreciation and Amortization margins expanded 9.5 percentage points y-o-y to 26.8 per cent (led by savings in fuel costs), though they were lower by 265 basis points sequentially.
The company is on track to nearly double its generation capacity to 5,800 Mw by end of 2011-12. Most projects are on schedule with the Maithon plant scheduled for commissioning in 2010-11 and Mundra UMPP scheduled for 2011-12. The company has received approval for its mining plan in Mandakini coal block with most formalities already been completed. Coal production is expected to start from July 2011 according to analysts. The Tubed block mining proposal has also been approved and submitted to the state government. Production is targeted from February 2012.
Tata Power is seen as a quasi-coal play given its acquisition of stake in two Indonesian coal mines of Bumi group. Bumi mined 29.3 million tonnes at an average cost of $60 per tonne in the first half of 2009-10. Coal prices have firmed by 11 per cent to about $90 per tonne since November 2009, analysts say.
Consolidated numbers due later this month will therefore be an interesting watch. Another positive is a freeing up of about 500 Mw that was earlier supplied to Reliance Infra in Mumbai. About 200 Mw will be available for merchant trading and the rest will be sold on regulated basis from April 2010.
The stock has largely performed in line with the BSE Sensex since the beginning of 2010. It ended yesterday at Rs 1,265, down by Rs 10 over Wednesday’s closing, and trades at 15.4 times consensus analyst 2010-11 EPS estimates. Analysts value the stock at Rs 1,500 on sum-of-the-parts basis which includes the company’s investments in Bumi (coal mines) and telecom among others, indicating that there is room for upside.
Source: Business-Standard
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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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Showing 5911 to 5915 news of total 6871 |
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- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
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