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NTPC, Power Grid top picks in power space: ICICIdirect

ICICIdirect.com has come out with its report on power sector. According to the research firm NTPC and Power Grid Corporation of India are the top picks in the space.

October 28, 2014 / 04:05 PM IST
 
 
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ICICIdirect.com's report on power sector


Generation increased only 3.8% YoY in September 2014 as growth across hydro and nuclear segments was partially offset by lower YoY generation across the gas segment while the coal segment reported moderate growth due to a fall in demand. Plant load factors (PLFs) declined across all segments barring hydro and nuclear plants. Both base and peak deficits declined MoM due to lower demand. Accordingly, the merchant rate declined in September 2014. While the sector continues to face constraints in terms of 1) fuel availability and pricing, 2) environment clearances and 3) SEB’s financials, the recent initiatives taken by the government like Coal Ordinance 2014, fixation of gas price, fast tracking of project clearances, etc. will unblock the policy logjams for the sector. The top picks in our coverage universe are NTPC and Power Grid Corporation of India.


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