MARKET EYE-Tata Power falls after surprise Q2 loss

Wed Nov 7, 2012 9:51am IST

Related Topics

Stocks

   

* Shares in Tata Power Co Ltd fall 1.03 percent after
posting a surprise second-quarter loss on Tuesday, hit by higher
finance and depreciation costs at its power projects and lower
revenue from its coal units.
* The company posted a consolidated net loss of 838 million
rupees, compared with a net loss of 11.9 billion rupees a year
earlier. Revenue rose 22 percent to 76.5 billion rupees, helped
by the commissioning of new units. 
* Analysts had expected Tata Power to post a net profit of 2.46
billion rupees, according to Thomson Reuters I/B/E/S.
* Barclays says profitability at Mundra power project may remain
under pressure until the legal process for tariff revision is
concluded.
* The investment bank has cut its earnings estimates by 17-21
percent to reflect weak first-half performance.
* Barclays maintains its 'neutral' rating on the stock and cut
its target price to 97 rupees from 99 rupees.

 (abhishek.vishnoi@thomsonreuters.com)
FILED UNDER:

Religion and Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage