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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
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- Iligan Light & Power Inc, Philippines
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- Orica Australia Pty. Ltd.
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- International Coal Ventures Pvt Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
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- Economic Council, Georgia
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- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
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- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Electricity Authority, New Zealand
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- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
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- Thai Mozambique Logistica
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
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- Indonesian Coal Mining Association
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- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
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- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
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- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
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- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
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- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
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- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
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- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- MS Steel International - UAE
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- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
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- TeaM Sual Corporation - Philippines
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- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
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- Australian Coal Association
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