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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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Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
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Showing 6001 to 6005 news of total 6871 |
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- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Planning Commission, India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- MS Steel International - UAE
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