India's BHEL, Indiabulls Power shares drop on power project worries

MUMBAI Thu Jan 10, 2013 11:59am IST

Related Topics

Stocks

   

MUMBAI Jan 10 (Reuters) - Shares in Indiabulls Power Ltd and Bharat Heavy Electricals Ltd 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 0615 GMT; 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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-WTO Row

REUTERS SHOWCASE

Market Eye

Market Eye

Nifty falls most in nearly 3-1/2 weeks; Sensex down over 400 points  Full Article 

Factory Activity

Factory Activity

Factories post fastest growth for 17 months in July  Full Article 

Paying for Bail

Paying for Bail

Jailed Subrata Roy gets office to negotiate hotel sales.  Full Article 

Rupee Dips

Rupee Dips

Rupee posts biggest weekly loss since record lows in August.  Full Article 

Reviving Infosys

Reviving Infosys

CEO Sikka says to improve business with new growth avenues  Full Article 

Outlook Slashed

Outlook Slashed

ArcelorMittal cuts outlook as ore prices hit mining  Full Article 

Re-gaining Momentum

Re-gaining Momentum

China, Asian factory growth gathers pace; Europe falters  Full Article 

Factory Lockout

Factory Lockout

Pfizer says threats to managers force staff lockout at Mumbai factory .  Full Article 

Gold Smuggling

Gold Smuggling

In cat-and-mouse game, India uncovers new gold smuggling route.  Full Article 

Reuters India Mobile

Reuters India Mobile

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