BHEL, Indiabulls Power shares drop on power project worries

MUMBAI Thu Jan 10, 2013 12:25pm IST

Related Topics

Stocks

   

MUMBAI (Reuters) - Shares in Indiabulls Power Ltd (INDP.NS) and Bharat Heavy Electricals Ltd (BHEL.NS) dropped on Thursday after Barclays Capital and Citigroup warned two thermal power projects the two companies were involved with could have been held up.

Barclays Capital and Citigroup both cited a report from the Central Electricity Authority under the Ministry of Power, highlighting that Indiabulls's projects at Nashik and Amravati in Maharashtra state had been held up due to "suspension of payments by financiers".

BHEL is a key supplier to Indiabulls on the two projects, according to these analysts.

BHEL and Indiabulls were not immediately available for comment.

BHEL shares were down 1.9 percent as of 11:45 a.m.; while Indiabulls shares were down 4.4 percent.

(Reporting by Abhishek Vishnoi and Manoj Dharra; Writing by Rafael Nam; Editing by Prateek Chatterjee)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
girishvyas wrote:
ONLY SOLAR, WIND, OCEAN TIDES POWER PLANT SHOULD BE ALLOWED. ALL OTHER POWER PLANTS SHOULD BE BANNED / CLOSED FOR POLLUTION , GLOBAL WARMING.

Jan 10, 2013 1:23pm IST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

RBI Policy Review

RBI Policy Review

RBI keeps rates on hold, warns on inflation  Full Article 

Monsoon Season

Monsoon Season

India's 2014 monsoon ends with double-digit rain deficit .  Full Article 

Cleanliness Drive

Cleanliness Drive

Modi orders officials to clean loos on Gandhi's birthday.  Full Article 

Bid to Boost Trading

Bid to Boost Trading

RBI takes small steps to deepen markets.  Full Article 

Car Recall

Car Recall

Maruti Suzuki says to recall 69,555 cars.  Full Article 

China Factory Data

China Factory Data

China final HSBC PMI steady in September on stronger global demand but risks remain  Full Article 

Oil Demand

Oil Demand

India's thirst for oil grows even as China cuts back  Video 

EBay Divests PayPal

EBay Divests PayPal

EBay to spinoff PayPal in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

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