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Thursday, March 07, 2013

B F Utilities Ltd: Steady Upmove Expected
Union Finance Minister P Chidambaram’s budget sought to breathe life into the wind power sector with reintroduction of generation based incentive (GBI). Presenting the union budget for 2013-14 in the parliament, Chidambaram said: “The non-conventional wind energy sector deserves incentives. Hence, I propose to reintroduce generation-based incentive for wind energy projects and provide Rs.800 crore to the ministry of non renewable energy for the purpose.” 
The government has also decided to provide low interest bearing funds from the National Clean Energy Fund to Indian Renewable Energy Development Agency Ltd (IREDA) to lend to renewable power project developers. Declaring clean and green energy as government’s priority, Chidambaram also said a scheme to encourage cities and municipalities to take up waste-to-energy projects in public-private-partnership (PPP) mode which would be neutral to different technologies would be evolved. The announcement has brought cheers to the players in the sector. They had been demanding this ever since the GBI was withdrawn on April 1 last year. Sources said there was a fall in new installations in the last 10 months. The approximate investment for one MW is Rs.6 crore and the country lost about Rs.10,000 crore in wind turbine installations this year. The company is a major player in the wind energy sector.
The company has a good presence in the infrastructure space mainly in the roads and highway segment as well as the wind energy segment. Given the fact that this company has a very strong presence in Bangalore and moreover the company is part of the Kalyani Group which is a very well respected  with high credibility, we can be fairly bullish on the counter.
It has fallen from a peak of Rs.2,977 in July ’07 to a low of 207.55 on 4th March, 2013. There is an interesting take on the company at CLICK HERE

Note: This note was sent to the Paid Members and to those who are having accounts with my recommended brokerage house/s on 6th Mach, 2012.