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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
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