The Gulf Reconstruction Play: How NRIs Can Track Indian EPC Firms Winning Overseas Contracts

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence NRI Investing · Gulf EPC Tracker The Gulf Reconstruction Play: How NRIs Can Track Indian EPC Firms Winning Overseas Contracts A record ₹7.79 lakh crore order book at L&T with about 37 percent in the Middle East, a UAE gas pipeline award of over ₹4,000 crore at Kalpataru, a Kuwait desalination win at Wabag and a US$1 billion Gulf pipeline in sight at Engineers India. The evidence is public, and an NRI can follow it from the United States. From the United States, the Middle East usually arrives as a headline about oil, shipping lanes and geopolitics. Look one layer below it and a more practical story appears: power lines, gas pipelines, desalination plants and storage terminals that have to be built, repaired and made more resilient. Indian engineering companies already work in those markets. For a US-based NRI who follows Indian equities, the useful question is which listed firms are turn...
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JSW Energy Ltd: Buy
CMP: Rs.81
Recently Jaiprakash Power Ventures announced to sell 500 megawatt thermal power plant in central India to JSW Energy Ltd for Rs.27 bln ($401.8 mln) including debt. The analysts at Ambit Capital expect the deal to be value-accretive for JSW's shareholders, if it fructifies. Analysts say JSW Energy may put its plans to buy Monnet Ispat And Energy Ltd's 1,050 MW power plant on the back burner given rise in leverage - - which is again positive development for the share holders.

Meanwhile,  JSW Energy Ltd got fair trade regulator CCI's approval to acquire 1,000 MW power plant in Chhattisgarh from Jindal Steel and Power Ltd (JSPL). Under the deal announced in May, the Sajjan Jindal-led firm was to purchase the power plant in Raigarh for Rs 6,500 crore with certain conditions.

The enterprise value of the deal is Rs.4,000 crore plus net current assets and "which will be increased to Rs.6,500 crore plus net current assets, if certain pre-arranged conditions regarding fuel security and power off take are satisfied", JSW Energy had said in May.

JSW Energy Ltd is engaged in the business of power generation, power trading and transmission, and mining and equipment manufacturing. 

 Therefore, buy the shares of JSW Energy Ltd at Rs.81, for short term targets of Rs.92-95. Please keep a SL of Rs.76, for any short term trade. 

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