Buy NTPC as govt restores de-allocated mines to firm
Posted on 26th March 2015 |
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| Maintain buy on NTPC as the government allots previously de-allocated coal blocks to NTPC. We are reviewing our We maintain that NTPC should be able to achieve a 17%+ operating return on regulated equity (RoRE) under the new tariff regulations. At the current market price, the stock trades at FY16f 1.4x P/B (BPS of Rs 112.1) and 13.9x P/E (EPS of R11). As part of the ongoing coal block auctions/allotment, the government has notified the allotment of 37 coal blocks to central/state PSUs. While 43 coal blocks were envisaged to be allotted to central/state PSUs, the actual number is smaller. NTPC has been allotted the five erstwhile captive coal blocks with the company – Chhatti Bariatu, Chatti Bariatu (South), Dulanga, Kerandari and Talaipalli – which were de-allocated by the Supreme Court (SC) in its judgment cancelling almost all coal block allocations between 1993-2010. NTPC had applied for eight out of the 43 coal blocks government proposed to allot to central/state PSUs at a reserve price; the company faced competition from 2-6 applicants for the five coal blocks that have been allotted to it. Notwithstanding the six months of time lost in developing these five coal blocks and payment of a reserve price for the same, we believe the restoration of its captive coal blocks is a relief. The focus would now once again shift to the production start-up timelines from these coal blocks. |
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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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