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

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

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