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Tata Power Company
Tata Power may hike stake in Bumi Resources
Posted by :
sambalaTracked by: 0 Boarder
Indonesia closed its stock exchange for the second day to halt a flurry of selling that sent the main stock index plummeting more than 20 percent this week, while Asian trading ended mixed. VOA`s Nancy-Amelia Collins has more from Jakarta.
Trading on the Jakarta Stock Exchange was canceled for a second straight day and officials say it may stay closed for the remainder of the week.
Stock exchange president Erry Firmansyah said it will remain closed to give investors a chance to "calm down before they make decisions."
Indonesia`s benchmark composite index has dropped more than 20 percent this week, driven by the financial turmoil in the United States.
Traders attributed the fall to selling by major foreign investors.
Fauzi Ichsan, senior economist at Standard Chartered Bank Indonesia, says the global financial crisis is likely to impact only Indonesia`s stock market and currency.
"I think it would affect the real economy for example, if the equity market continues to tank and foreign investors continue to sell their Indonesian shares," he said. "And with the rupiah they get they change to dollars, and the rupiah becomes under pressure, the rupiah tanks, and imported inflation accelerates, and therefore headline inflation also accelerates, then that would hit the real economy."
But Fauzi says the economic impact of the global economic crisis is likely to be limited in Indonesia.
"As long as the fall, the weakening of the equity market is confined to the so called economic elite of Indonesia, the impact on the real sector, on the real economy is negative, but it is likely to be limited compared to similar impact in the U.S," he said.
The central bank senior deputy governor Miranda Goeltom said the government may extend a guarantee on deposits, similar to moves made by other countries.
The plunge in the stock markets Wednesday prompted coordinated rate cuts by central banks in Europe, the United States, the Britain, Canada, and China in an attempt to stave off a global recession.
Central banks in South Korea and Taiwan also cut their rates hoping to rally Asian shares.
But trading on Asian markets ended mixed with the Hang Seng in Hong Kong closing with a gain of more than three percent and Seoul`s index trading higher, but markets in Japan, Taiwan, Manila, Sydney, and Wellington fell.
By Nancy-Amelia Collins
Jarkata
...
In reply to:
Tata Power may hike stake in Bumi Resources
Posted by : latikav
MUMBAI: The ongoing financial turmoil could pave the way for Tata Power to increase its stake in Indonesia’s Bumi Resources, the world’s second large
st coal company. Tata Power is exploring options after a sharp erosion in the value of shares pledged by Bumi’s parent company, Bakrie & Brothers with various lenders.
Tata Power has a 30% stake in two unlisted coal subsidiaries of Bumi Resources, a transaction that was effected last year for $1.1 billion.
Trading in Bumi Resources and five other group companies was suspended on the Jakarta Stock Exchange after rumours that the parent Bakrie & Brothers had failed to meet its debt obligations. The shares of Bakrie group companies have fallen by 25-40% in the ongoing market turmoil.
When contacted, a Tata Power spokesperson declined to comment on the issue. A spokesperson of Bumi Resources said, “I am not aware of any such developments.”
Bakrie & Brothers has offered an equity stake of 28.25% as collateral to refinance its debts and reportedly raised a loan of $1.43 billion by pledging shares as collateral.
The Indonesian group had taken a loan of $150 million each from ICICI Bank and JPMorgan some months ago, with shares of the coal major as collateral. ICICI Bank reportedly has a collateral of three times the loan amount, even at current market valuations. The Bakrie group has also put an additional cash collateral in the past few days. Some Indian public sector banks also have an exposure to the Indonesian group.
Bumi Resources recently borrowed $100 million from the Credit Suisse Group to fund its working capital.
“Coal is in tight supply and any means of owning such a scarce commodity is worth looking at,” said a senior executive with a large Indian power company. Indonesia is rich in thermal coal — Bumi is the world’s second largest exporter of thermal coal, with reserves estimated at 800 million tonnes — and a number of Indian utility companies including Reliance Power and GMR Infrastructure have bought or are scouting for coal mines in the southeast Asian country.
Bumi earned total revenues of $2.26 billion in 2007 and its net income was $369 million. The company had a market capitalisation of $16 billion early this year, but this has now declined to around $4.4 billion.
However, bankers point out that the deal with the Tatas may enjoy a premium to the current market price as the low valuations prevailing currently are a factor of the global meltdown and have nothing to do with the company’s fundamentals.
The coal from Indonesia’s mines is perfectly suited for thermal power generation due to its low ash content. Moreover, Indonesia is nearer to India compared to other potential suppliers and will hence lead to savings on freight charges
ET... 
Tata Power may hike stake in Bumi Resources
Posted by : latikavTracked by: 0 Boarder
MUMBAI: The ongoing financial turmoil could pave the way for Tata Power to increase its stake in Indonesia’s Bumi Resources, the world’s second large
st coal company. Tata Power is exploring options after a sharp erosion in the value of shares pledged by Bumi’s parent company, Bakrie & Brothers with various lenders.
Tata Power has a 30% stake in two unlisted coal subsidiaries of Bumi Resources, a transaction that was effected last year for $1.1 billion.
Trading in Bumi Resources and five other group companies was suspended on the Jakarta Stock Exchange after rumours that the parent Bakrie & Brothers had failed to meet its debt obligations. The shares of Bakrie group companies have fallen by 25-40% in the ongoing market turmoil.
When contacted, a Tata Power spokesperson declined to comment on the issue. A spokesperson of Bumi Resources said, “I am not aware of any such developments.”
Bakrie & Brothers has offered an equity stake of 28.25% as collateral to refinance its debts and reportedly raised a loan of $1.43 billion by pledging shares as collateral.
The Indonesian group had taken a loan of $150 million each from ICICI Bank and JPMorgan some months ago, with shares of the coal major as collateral. ICICI Bank reportedly has a collateral of three times the loan amount, even at current market valuations. The Bakrie group has also put an additional cash collateral in the past few days. Some Indian public sector banks also have an exposure to the Indonesian group.
Bumi Resources recently borrowed $100 million from the Credit Suisse Group to fund its working capital.
“Coal is in tight supply and any means of owning such a scarce commodity is worth looking at,” said a senior executive with a large Indian power company. Indonesia is rich in thermal coal — Bumi is the world’s second largest exporter of thermal coal, with reserves estimated at 800 million tonnes — and a number of Indian utility companies including Reliance Power and GMR Infrastructure have bought or are scouting for coal mines in the southeast Asian country.
Bumi earned total revenues of $2.26 billion in 2007 and its net income was $369 million. The company had a market capitalisation of $16 billion early this year, but this has now declined to around $4.4 billion.
However, bankers point out that the deal with the Tatas may enjoy a premium to the current market price as the low valuations prevailing currently are a factor of the global meltdown and have nothing to do with the company’s fundamentals.
The coal from Indonesia’s mines is perfectly suited for thermal power generation due to its low ash content. Moreover, Indonesia is nearer to India compared to other potential suppliers and will hence lead to savings on freight charges
ET......
betta stay out
Posted by :
vtycoonTracked by: 0 Boarder
insane.....
52week loww.....i alerted ma frends @ 880 - 900....
nw u can pick ur holdins n down ur avg by 100rs :D...
In reply to:
betta stay out
Posted by : vtycoon
i dont knw ...but its lookin very weak on charts,,,isnt able 2 participate on rally`s...
+ m getinm inside feelin dat it will be near 2 itss 52 week low in comin days
betta stay out
Posted by : vtycoonTracked by: 0 Boarder
i dont knw ...but its lookin very weak on charts,,,isnt able 2 participate on rally`s...
+ m getinm inside feelin dat it will be near 2 itss 52 week low in comin days ...
BSE Announcements on Tata Power
Posted by : MMB MessengerTracked by: 0 Boarder
Tata Power Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 27, 2008, inter alia, to consider and take on record the audited financial results for the quarter/half year ended September 30, 2008 (Q2)....
BUY TATA POWER
Posted by : zoombusinessTracked by: 0 Boarder
BUY TATA POWER ...........TGT 958,................. SL .............
--stoxandmore courrtesy ...
S O T projection for TODAY !
Posted by : DUstocksTracked by: 1 Boarder
At the current Speed Of Trend, TATAPOWER will become OVERSOLD (getting bearish) on 7th October, 2008, at about Rs. 927.63.
These figures may change drastically by Monday evening (29th September, 2008), depending upon the nature of cues from the US markets and the reaction of the Asian and European markets to such cues. SOT figures DO NOT make any allowance for such local or global cues.
Please don't interpret SOT figures in ABSOLUTE terms for setting up your trades, use them only for general directional guidance - all at your risk & responsibility of course. If you do not understand what SOT projections are all about, just ignore this post, rather than setting up your trade upon something you know nothing about....
GAP up openin on monday !
Posted by : vtycoonTracked by: 0 Boarder
operators ne as usual maal nikvaalae hai khud dey have purchased nw as ususal u guys will cry those who sold on friday
n nifty shorts 2
DOW -200 se +100
NASDAQ -50 se -3......
wat a recovery ! ...
GAP up openin on MLL
Posted by :
c.raviramanTracked by: 2 Boarders
i have seen today in news tata power advance tax is 50% less then previous qter,after announcing result it will go down below 900.try to bargin with this script...
In reply to:
GAP up openin on MLL
Posted by :
praveen_ss21
Bro, i think u r in fully panic coz market was dropped heavily from past 2 weeks, so if u r in panic then dont invest in stocks which u r not now abt stocks business models and fundamentals.
GAP up openin on MLL
Posted by : praveen_ss21Tracked by: 2 Boarders
Bro, i think u r in fully panic coz market was dropped heavily from past 2 weeks, so if u r in panic then dont invest in stocks which u r not now abt stocks business models and fundamentals.
...
In reply to:
GAP up openin on MLL
Posted by : vtycoon
dude evn i purchased it 2day @ 988but boooked profit at 1002...
u r lucky...market will go up on monday again n den u book ur profits n give us part 2 all broasders :D
GAP up openin on MLL
Posted by : vtycoonTracked by: 2 Boarders
dude evn i purchased it 2day @ 988but boooked profit at 1002...
u r lucky...market will go up on monday again n den u book ur profits n give us part 2 all broasders :D...
In reply to:
GAP up openin on MLL
Posted by : 54543532
hii...i've bought Tata Power @ 987.80 with a stop loss of 965...and i wish 2 get out of it in this series itself...any targets ???
Dividends -Tatapower (Ex: Date 18 Aug)
Posted by : phkTracked by: 0 Boarder
guestji ,i got div but how it is that they are mentioning for period 2007 /2008,,?PHK,,...
In reply to:
Dividends -Tatapower (Ex: Date 18 Aug)
Posted by : Guest
Dear Phk
Thanks for your response. Please note that i received 105% div credit in my account. Please check for yours.
GAP up openin on MLL
Posted by : praveen_ss21Tracked by: 2 Boarders
Dear friend better u hold the stock coz the stock is fundamentaly very strong and after nuke deal this stock is very attractive. in my vision the short time TGT is 1170...
In reply to:
GAP up openin on MLL
Posted by : 54543532
hii...i've bought Tata Power @ 987.80 with a stop loss of 965...and i wish 2 get out of it in this series itself...any targets ???
GAP up openin on MLL
Posted by : 54543532Tracked by: 2 Boarders
hii...i've bought Tata Power @ 987.80 with a stop loss of 965...and i wish 2 get out of it in this series itself...any targets ??? ...
TATA POWER SHORT TIME TARGET-1170
Posted by : 54543532Tracked by: 0 Boarder
I\\`ve bought 1 lot of TATAPOWER @ 987.80 with a stop loss @ 965....any targets ??? ...
In reply to:
TATA POWER SHORT TIME TARGET-1170
Posted by : praveen_ss21
tata power is oversold is 18th sept 08, the stock is fundametaly very strong. nuke deal is positive for all power sector, this stock will soon touch 1170 before the 25th sept US congress approval.
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