Retain buy on NTPC even as generation slips for Q1: HSBC
Posted on 10th July 2015 |
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| As per the monthly generation data released by CEA (central electricity authority) NTPC saw a 7% y-o-y decline in generation for Q1FY16. NTPC generated 22% of the power generated by all power plants in India during Q1FY16. Meanwhile, there was a 12% y-o-y increase in generation by the private generation companies post a 20% increase in their generation capacity during Q1FY16. Thus there was a 670 bps y-o-y decline in the plant load factor (PLF) for NTPC coal stations and 400 bps y-o-y decline in PLF for the private thermal stations including both coal as well as gas stations during the same period. Coal India production increased by 12% and off take increased by 8.3%. The coal supply to power station improved in this quarter as the coal off take rose sharply in Q1FY16 (April-June) by 9.9MT, an increase of 8.3% YoY. At the same time, production increased by 13MT, increase of 12% y-o-y. We expect 3-5% earnings decline in Q1FY16. We expect the company to see a 3-5% earnings decline in Q1FY16 due to lower generation. We are not changing our earnings estimates as we have only three months generation data for FY16. We retain our buy rating on NTPC with an unchanged target price of Rs 174. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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