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

REUTERS SHOWCASE

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Managing Share Sales

Managing Share Sales

Govt seeks bids from banks to manage PFC, REC share sales   Full Article 

Reuters India Mobile

Reuters India Mobile

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