MARKET EYE-Tata Power falls after surprise Q2 loss
* 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. (firstname.lastname@example.org)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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