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adani power unusaul price rise

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    Adani Power may look at bidding for UMPPs

    Press Trust of India / New Delhi July 18, 2011, 21:30 IST

    Adani Power may look at bidding for Ultra Mega Power Projects (UMPPs) and as well as coal-based power projects having a minimum generation capacity of 4,000 Mw.

    "The company may evaluate UMPPs, coal-based power projects with a capacity of 4,000 Mw or above, as and when they come up for bidding," according to the company's annual report for 2010-11.
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    Adani Power, a part of diversified Adani group, has an ambitious plan of having a capacity of 16,500 Mw in the coming years.

    As part of efforts to meet the growing electricity demand, the government is encouraging UMPPs. Each such project has a generation capacity of about 4,000 Mw, entailing an investment of about Rs 16,000 crore.

    A total of 16 UMPPs have been envisaged and special purpose vehicles have been set up for 12 projects.

    So far, the government has awarded four UMPPs -- Sasan in Madhya Pradesh, Mundra in Gujarat, Krishnapatnam in Andhra Pradesh and Tilaiya in Jharkhand. Three of them -- Sasan, Krishnapatnam and Tilaiya -- are implemented by Reliance Power, while Mundra project is done by Tata Power.

    Adani Power, along with its subsidiaries, has nine power projects -- having a combined capacity of 16,500 Mw. Of the total, 1,980 Mw has been commissioned and 7,260 Mw is under implementation.

    "The company is in advanced stages of implementing 4,620 Mw coal-based power project at Mundra in Gujarat, 3,300 Mw coal- based power project at Tiroda in Maharashtra and 1,320 Mw coal-based power project at Kawai in Rajasthan," the report noted.

    In 2010-11, Adani Power posted a total income of Rs 2,125.07 crore, including Rs 2,106.43 crore from sale of power. The entity raked in a profit after tax of Rs 523.75 crore last fiscal.

    Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.

    Indias Bombay Stock Exchanges Sensitive Index, or Sensex, slid 0.3 percent to 18,561.92. The BSE200 Index fell 0.3 percent to 2,307.37.

    Adani Power Ltd. (ADANI) gained 1.6 percent to 113.65 rupees, its highest since more than five weeks. Part of India�s Adani group of companies chaired by billionaire Gautam Adani had about 5 million shares traded in a single block on National Stock Exchange today, according to Bloomberg data. The buyers and sellers weren�t immediately known.

    If there are leaks on the Teresa they generally come out of India it's interesting to see the price of Adani start to move up as reported by Bloomberg.Adani MUST still be considered the front runner to purchase Teresa having completed the purchase of the Abbots point terminal recently and the reported recent activity in India.

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