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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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- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Deloitte Consulting - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
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