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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Election 2014

REUTERS SHOWCASE

TCS Results

TCS Results

TCS net profit rises 51.5 percent, sees stronger sales growth.  Full Article | Quote 

Election 2014

Election 2014

Promises and more promises: India’s parties pitch their visions.  Full Article | Full Coverage 

India Markets

India Markets

Sensex slumps 207 points, at 2-1/2 week closing low.  Full Article 

Telecom Sector

Telecom Sector

RComm to raise mobile call tariff by up to 20 percent  Full Article 

Chinese Economy

Chinese Economy

China economic growth slows to 18-month low in first quarter  Full Article 

New Direction

New Direction

CEO Nadella pushes data culture at Microsoft.  Full Article 

Bitcoin ATM

Bitcoin ATM

China gets first bitcoin ATM, skirting bank crackdown.  Full Article 

Strong Sales Volume

Strong Sales Volume

Small is beautiful for Coca-Cola as volumes soar in China  Full Article 

Breakingviews

Breakingviews

Diageo throws money at Indian empire-building  Full Article 

Reuters India Mobile

Reuters India Mobile

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