Thermal Power Projects: January 2013

Friday, 4 January 2013

Gujarat Gas Company to purchase RLNG from GSPC

Gujarat Gas Company Ltd ( GGCL), a City gas distribution player has entered into an agreement with state-run Gujarat State Petroleum Corporation Ltd (GSPC) for purchase of 1.1 million standard cubic meters per day (mmscmd) of re-gasified LNG (RLNG) during January. This translates into about 33 per cent of the company's gas requirements for the month of January.

The company has on December 27, 2012 entered into an agreement with Gujarat State Petroleum Corporation Ltd for the purchase of RLNG

Interest burden of Indian companies at 9 year high

The India Inc’s debt servicing capacity are much below the 2008-09 levels, the Reserve Bank of India (RBI) said in its financial stability report.

The corporate sector’s interest coverage ratio, which reflects the ability to service loans, has fallen, with real estate firms having the highest interest burden in the last four years. Interest expenditure is also on the rise in sectors such as textiles, iron and steel, and construction.
Interest expenditure as a percentage of sales was 3.6

Thursday, 3 January 2013

Kolkata Port Trust (KPT) to impose royalty on cargo handlers

Kolkata Port Trust is now planning to impose royalty on cargo service providers at the Haldia Dock Complex (HDC). With this move, the port authorities hope to overcome the losses it incurred due to the exit of ABG Haldia Bulk Terminals from berth No. 2 and 8 at HDC on October 28, 2012.

The Kolkata Port Trust has also sought legal opinion on the matter before it sends the proposal to the shipping ministry for their consent, as mandated by the Major Port Trusts Act.

Parle plays with price to branded namkeen

Parle Products is adopting the lower pricing strategies to beat the unbranded players in the namkeen or traditional snacks category. The Mumbai based biscuits major is restricting prices at Rs 20 (100 gm) and offering an additional 25 per cent grammage in its Parle Namkeen brand. Playing on the price and value proposition, the purpose is to lure consumers to graduate to branded snacks in the already well penetrated traditional snacks category.
Today competition is mainly from the unbranded

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DLF Ltd. - buyer agreement abusive, amended CCI

The Competition Commission of India (CCI) has modified the buyer-builder agreement in the case of ‘abuse of dominance’ by the country’s largest realty player DLF. At least 16 sub-clauses, found abusive and unfair have been deleted. The overall architecture of the agreement has been changed, according to the Commission, which changed the pact on the directions of the Competition Appelate Tribunal (Compat). The next hearing of Compat is on January 9, 2012
Calling it a model agreement for

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500 MW solar power complex in Chitradurga district

Karnataka State Government has decided to construct a 500 MW solar power complex in Chitradurga district, instead of the Bijapur district. The decision to relocate the planned solar park was taken following widespread opposition to the plant in Bijapur. In September 2012, the government had announced plans for the project that was meant to include private sector investment. To be constructed in several phases starting with 100 MW capacity in the first phase, the solar park is part of

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Air India forced to withdraw from Northeast fleets

Alliance Air, a subsidiary of Air India is about to withdraw its flights from seven Northeast airports, including those in Tezpur, Lilabari and Shillong, post non-payment of funds by the North Eastern Council (NEC) from January 1, 2013. However, Alliance Air will be operating from Guhawati, Silchar and Imphal, the important destinations in the regions.
These aircrafts, the 60-seater ATR turboprops now redeployed to profitable routes. The NEC finances Alliance Air’s operations each year

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Revival of Hitachi and lessons learnt

Hitachi has staged an impressive turnaround, booking a record 347 billion yen ($4 billion) in net profit in the year through March 2012 as against its 787 billion yen, or $9.2 billion, loss in 2009, while rivals like Sony, Sharp and Panasonic continue to struggle in FY 2012.
Hitachi, a city of 190,00 and the company’s longtime production hub, there is little celebrating. Instead, the deserted streets and shuttered workshops speak of the heavy toll levied by the aggressive streamlining,

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Economy push to the next level of growth

The Indian economy in 2012 has gone through stress in the form of dwindling investor confidence and uncertain markets on account of the various concerns which have been plaguing the nation for some time now. These issues can broadly be classified as high inflation, high twin deficits (Fiscal Deficit and Current Account deficit), policy paralysis and perception impacting events like 2G scam, Coalgate scam, etc.
Lower inflation and inflationary expectations:
Inflation has taken its toll on the

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Half of malls in India are vacant

Over half of the total number of malls in the Delhi-NCR region are vacant due to reasons like economic slowdown, poor designing and lack of robust revenue generation model, a survey by Assocham has said. The total rate of vacancy in malls in Delhi-NCR is 55 per cent, while in Mumbai it is 52 per cent followed by Ahmedabad (51 per cent), Chennai (50 per cent), Hyderabad (48 per cent), Bangalore (45 per cent).
It said that construction of several malls have significantly been delayed and

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Coal blocks reallocation to NTPC

Power Ministry is awaiting procedural clearances related to re-allocation of three coal blocks to NTPC before moving ahead with the over Rs 12,000 crore disinvestment plan for the state-run utility. The government has decided to re-allocate three coal blocks i) Chatti Bariatu, ii) Kerandari and iii) Chatti-Bariatu (South) to NTPC but all the necessary clearances are not in place.
The reallocation will help the company in getting better valuations at the time of disinvestment. The issue is

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Essel into investment Banking and private equity

The $4 billion media conglomerate, Subhash Chandra owned group 'Essel Group' has made a foray into financial services sector in India. Essel Group already has presence in areas of media (Zee Entertainment Ltd, Zee News Ltd and DNA), Technology (Dish TV, Wire Wireless India), Packaging (Essel Propack), Entertainment (Playwin, Fun Multiplex), Infrastructure (Essel Infraprojects, E-City Real Estate, Siti Energy Ltd) and Education (Zee Learn).
Essel has set up a new arm Essel Financial Services

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Empowered Group of Ministers on telecom to meet again

An Empowered Group of Ministers (EGoM) on telecom today deliberated upon several issues regarding spectrum auction due this fiscal, but did not reach a final decision and would meet again on January 7, 2013. EGoM deliberated on 1800/900 MHz spectrum but it could not discuss CDMA (800 MHz). Auction does not seem possible by January 18 but will take place during this fiscal. The telecom companies, whose licences have been cancelled by the Supreme Court order, are allowed to offer their services

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Goldman Sachs MF's arbitrage schemes found no takers?

Goldman Sachs Asset Management (GSAM), the mutual fund arm of the US investment bank, has decided to wind down two of its equity schemes following poor investor response. Goldman Sachs Derivatives Fund and Goldman Sachs Equity and Derivatives Opportunities fund had assets of less than Rs 10 crore between them and were managed by fund managers Gauri Sekaria and Vishal Jain, respectively. The fund house claimed that “the advent of technology in the stock markets” has considerably reduced the

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Wednesday, 2 January 2013

Flying out of Delhi cheaper

Airport Economic Regulatory Authority (AERA) revising the airport development fee for both domestic and international passengers which will make flying out of Delhi cheaper. The move will effect from January 1, 2013. Accordingly, the domestic and international travellers will be charged Rs 100 (instead of current Rs 200) and Rs 600 (instead of Rs 1,300) in development fee respectively. The fee will remain in place till April 2016.
However, the period of levy has been extended by about two

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Net worth rose by $241 billion for World's 100 richest

Global stocks soared in 2012. The MSCI World Index gained 13.2 per cent during the year to close at 1,338.50 on December 31. The Standard and Poor’s 500 Index rose 13.4 per cent to close at 1,426.19. European stocks surged in the second half of the year. The Stoxx Europe 600 is up 19.6 per cent since June 4, advancing as the European Central Bank introduced bond buying programmes, SP upgraded Greece’s debt and German business confidence rose more than forecast. The benchmark gauge’s 14.4

Net worth rose by $241 billion for World's 100 richest

Etihad airways buying 24% in Jet airways

Abu Dhabi based airlines, Etihad Airways (Ethiad) is about to buying 24 per cent stake in Jet Airways at cost in the range of Rs 1,500-1,800 crore deal, likely to be concluded within ten days. Etihad’s investment in Jet would be the first by a foreign aviation company in an Indian aviation company as the sector was opened up to foreign investment last year.
The cost of Rs 1,500 to 1,800 crore deal would mean Etihad paying a 25-50 per cent premium on closing price of Rs Rs 579.60 on the NSE.

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Telcos pay onetime fee of Rs 20,000 cr

The telecom companies (Telcos) have been asked by the Department of Telecom (DoT) asking operators with excess spectrum to pay the one-time charges from January 1 onwards. Six incumbent operators have to pay a total of Rs 20,115 crore to the Government for holding spectrum beyond 4.4 Mhz. Among the private players Bharti Airtel has to pay the maximum of Rs 4,281 crore, followed by Vodafone at Rs 2,969 crore.
The state-owned Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd are

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Telcos pay onetime fee of Rs 20,000 cr

Distribution companies reform is on card

India’s power sector reforms in 2013 would be led by the distribution segment (Discoms) with the newly-announced debt restructuring package for state utilities. The Centre has backed the package with measures to ensure it does not meet the same fate as the one-time-settlement scheme of 2001. The most states have defeated political interference on revising retail rates, which will show in healthy balance sheets of distribution companies.
The distribution sector reform coupled with easing fuel

Reliance commissions Butibori power project

Reliance Power Ltd (RPL) announced that it has commissioned the 300 MW unit of its Butibori power plant (the second unit to be commissioned at Nagpur in Maharashtra. This will help ease power availability for industrial units and distribution utilities in the power-starved state of Maharashtra.
The first 300 MW unit of the Butibori project was commissioned in August this year. With the coming of the second unit on-stream, the total operating capacity of the Anil Dhirubhai Ambani Group

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Coal India achieves 93% of output

Coal India Ltd. (CIL) has achieved 93 per cent of its output target during April-November 2012, the nodal Coal Ministry said in a statement. This indicates a growth of 6.4 per cent over the corresponding period of the previous year.
The Production target for 2012-13 has been set 7 per cent higher at 578.10 million tonnes against the actual production of about 540 mt in 2011-12. As against this, the actual production during April-November 2012 has been 330.61 mt, which is about 93 per cent of

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Emerging real estate play cities

The Indian Cities with a high level of job creation continue to see high volumes of real estate supply and absorption. The cities with few or no economic drivers to spur the growth of employment fall behind, no matter what other factors seem to work in their favour. Earlier, Mumbai and Delhi attracted the most talent from rural areas. In today's time the cities like Bangalore, Hyderabad, Chennai, Pune and Gurgaon have taken lead positions and are all set to overtake Mumbai and Delhi.
Most of

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Tuesday, 1 January 2013

Kingfisher Airlines loses licence

Kingfisher Airlines’ flying permit, suspended by the Directorate General Of Civil Aviation ( DGCA), expired today. However, the airline put up a brave face, saying there was no cause for concern as regulations permitted licence renewal within two years. The Kingfisher Airlines stock fell 2.36 per cent to close at Rs 14.92 on the Bombay Stock Exchange. The benchmark Sensex fell 0.09 per cent.
The airline said it was confident of securing approval from the regulator to restart operations and

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International bandwidth to be cheaper

The international bandwidth in the country will be available at 50 per cent of the current cost. This follows a decision by the telecom regulator to slash cable landing station charges from January 1. The charges for a 10 GB connection, for example, have fallen from Rs 3.4 crore to Rs 6.25 lakh after long-distance players complained of high charges. The reduced charge would mean lower costs for Internet service providers and long distance telephony players resulting in lower broadband

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Validity of Renewable Energy Certificates

The Renewable Energy Certificate regime came into effect last year, it was expected that the proceeds from selling the certificates to those obligated to buy green power would form a meaningful stream of income to wind, biomass and solar energy producers. However the trading in the last few months has belied the faith. In the trading session of December, 19 lakh RECs were available, of which less than 3 lakh were traded. The Central Electricity Regulatory Commission recently took note of the

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Shale gas technology boon to Steel industry

The Hydraulic fracturing of shale rock formations has boosted supplies of gas and sent prices plunging by as much as half in the past two years. The Hydraulic Fracturing technology has been there for last 30 years but for 29 years gas prices in the US were so high that the technology was not economical.
Gas futures reached a decade low of $1.91 per million British thermal units in April in New York trading. Though prices are up 75 per cent from their April low and will average $3.70 per

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Shale gas technology boon to Steel industry

Posco will buy ArcelorMittal Mines Canada

Asia’s third largest steelmaker, Posco, agreed to buy a stake in Arcelor Mittal Mines Canada Inc. The Korean steelmaker hasn’t decided on the amount of stake it will purchase or for how much.
Posco will buy a 15 per cent stake in the mine for $1.1 billion. Yonhap News reported a group, including Posco and China Steel Corp, will buy the stake for $1.1 billion. China Steel will invest $540 million, while Posco will spend $270 million.
Arcelor Mittal is considering selling about 30 per

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