news is that the Vijaynagar plant has commenced a short-term PPA at Rs.4.18/unit approved by the regulator. The company said that it is raising long term funds through the issuance of redeemable non-convertible debentures upto Rs 1,000 crore by way of a private placement.
The company said its wholly-owned subsidiary, Karcham Wangtoo Hydro project of Himachal Baspa Power Company has filed a petition for determination of final tariff with Central Electricity Regulatory Commission (CERC). Pending the receipt of final tariff order, the revenue from sale of power under long term power purchase agreements are being recognised in terms of expected tariff as per the available guideline. The hydro projects were acquired during September 2015, it said.
Though JSW Energy Ltd still has 1160MW open-ended capacities, it is likely to get a good value, as the demand for power increases, post demonetisation.
3. Those who have taken position in Punj Lloyd Ltd (Rs.20.20) yesterday should wait to see if it crosses above Rs.20.50 or not to take fresh entry. On breaking of Rs.19.60, it becomes a sell.
4. Those who have entered Reliance Power Ltd, should continue to hold with SL of Rs.41.80.
5. Buy Rolta India Ltd at Rs.63.50, T: Rs.71-72, SL: Rs.61.60. Today most of the IT and defence stocks are doing well and hence Rolta Ltd should also move up in tandem.
In earnings reported earlier, net profit for Q3FY17 came at Rs 98.7 crore against Rs 127.3 crore quarter-on-quarter, while total income was up 0.2 percent at Rs 343.9 crore versus Rs 343.2 crore.
A share of a company reporting Rs.98.7 Cr quarterly profit should trade above Rs.100 as against the CMP of Rs.63.50. Moreover, yesterday volume of 52,000 in the BSE will be crossed today, as brisk buying is seen in the counter.