Madhya Pradesh Electricity Regulatory Commission has, as per media, cut feed-in tariff for wind projects to be commissioned from April 1, 2016 by 19% (Madhya Pradesh’s steepest cut). The tariff now, at Rs 4.78/unit, is sign
Buy Petronet LNG with a target price of R280 per share. Our target implies 2.9x FY17 P/B/ and 17x FY17 EPS; we build 20% EPS CAGR over FY15-FY18. The Kochi terminal (50% of gross assets, capacity of 5 mmtpa) remains underutil
We retain ‘sell’ rating on TVS Motor and earnings estimates but marginally increase our SOTP-based target price to R248 (earlier R245 per share), implying 14x October 2017 earnings for the core standalone business.
Coffee Day Enterprises’ (CDEL) apparently strong coffee business of 1,518 stores across 219 cities is diluted in the myriad of other unrelated capital intensive businesses; coffee retailing accounts for just 30% of capital