MARKET EYE-Indian power producers gain on coal price pooling reports

Wed Feb 6, 2013 12:00pm IST

Related Topics

Stocks

   

* Shares of private sector Indian power producers gain on media
reports the cabinet has given preliminary approval to price coal
by averaging prices of domestic and imported coal.
* The measures are intended to bring down coal prices, but
details still need to be fleshed out, according to the reports,
including from The Economic Times. (link.reuters.com/hum75t)
 
* Nomura says price pooling for coal would only impact projects
eligible to secure supplies from Coal India Ltd under
their respective fuel supply agreements, and hence would only
benefit independent power producers such as Lanco Infratech Ltd
 and Adani Power Ltd.
* The investment bank adds pooling would be neutral to positive
for NTPC Ltd and revenue neutral for Coal India Ltd
. 
* Lanco Infratech shares gain 4.8 percent while Adani Power is
up 1.9 percent.
* NTPC shares are down 1.6 percent, while Coal India shares are
up 0.4 percent.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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-China Ties

REUTERS SHOWCASE

Scotland Referendum

Scotland Referendum

Scots vote in record numbers, await independence verdict.  Full Article 

India-US Diplomacy

India-US Diplomacy

Obama to nominate Indian-American Richard Verma as India ambassador - congressional source.  Full Article 

GMR in Nepal

GMR in Nepal

Nepal clears India’s GMR plan for $1.4 bln hydroelectric plant.  Full Article 

LIC on Markets

LIC on Markets

LIC chairman bullish on Indian markets  Full Article 

India Rains

India Rains

Monsoon rains weaken as late retreat looms.  Full Article 

Ellison Quits

Ellison Quits

Oracle's Ellison steps aside, co-CEOs Catz and Hurd take over.  Full Article 

Infosys-Huawei

Infosys-Huawei

Infosys partners with China's Huawei for cloud-based services  Full Article 

Gold Outlook

Gold Outlook

Gold imports seen up, premiums likely to double on festive buying  Full Article 

Trade Dispute

Trade Dispute

U.S. to press India on trade row during Modi's Washington visit  Full Article 

Reuters India Mobile

Reuters India Mobile

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