India - Politics, Industrials, IT and Large Caps, EMAlpha

Pankaj Sharma

India - Politics, Industrials, IT and Large Caps

Equity Bottom-Up

In the current financial year, the Government of India is aiming to stop thermal coal imports of state owned power generation companies (GENCOs). These companies include the largest utility in India, NTPC. The immediate objective is to reduce the import bill by approximately US$ 2.5bn. Once the coal imports are stopped for PSUs (Public Sector Undertakings), the Govt also plans to do the same for the private sector power companies to totally stop the import of thermal coal.Though domestic coal is…

In the current financial year, the Government of India is aiming to stop thermal coal imports of state owned power generation companies (GENCOs). These companies include the largest utility in India, NTPC. The immediate objective is to reduce the import bill by approximately US$ 2.5bn. Once the coal imports are stopped for PSUs (Public Sector Undertakings), the Govt also plans to do the same for the private sector power companies to totally stop the import of thermal coal.Though domestic coal is…

Government Intends to Stop Coal Imports for State Owned GENCOs: Positive for Coal India

It has been reported that Govt of India, a majority shareholder in Coal India, has reduced company’s production target for the current financial year (April 2017 to March 2018). The cut has been steep, from 660 million tonnes to 600 million tones. (<a href="http://www.livemint.com/Industry/HQ11vy1v8UCMbg4OiuLKbJ/Coal-India-FY18-production-target-cut-on-weak-demand.html" target="_blank">News Report</a>)<div class="content-highlight">The reason for production target cut is weak demand. This is an unprecedented situation as very rarely in history, Coal India had to worry about the demand. It was as simple as this: produce as much as you can and sales will happen…</div>

It has been reported that Govt of India, a majority shareholder in Coal India, has reduced company’s production target for the current financial year (April 2017 to March 2018). The cut has been steep, from 660 million tonnes to 600 million tones. (News Report)The reason for production target cut is weak demand. This is an unprecedented situation as very rarely in history, Coal India had to worry about the demand. It was as simple as this: produce as much as you can and sales will happen…

Coal India FY18 Production Target Cut, Subdued Coal Demand Is a Big Worry for Many Sectors

Recently, Coal Controller’s Organization (CCO) which is responsible for grading and classification of coal mines in India has downgraded 177 of Coal India Ltd’s 413 mines. This is an important event in our view.<h2>Background</h2>1. Coal India is one of the largest coal producers in the world and produces approximately 550 million tonnes every year. The company was formed after the nationalization of the coal mining industry in the 1970s.2. Most of the coal reserves in India are of relatively poor…

Recently, Coal Controller’s Organization (CCO) which is responsible for grading and classification of coal mines in India has downgraded 177 of Coal India Ltd’s 413 mines. This is an important event in our view.Background1. Coal India is one of the largest coal producers in the world and produces approximately 550 million tonnes every year. The company was formed after the nationalization of the coal mining industry in the 1970s.2. Most of the coal reserves in India are of relatively poor…

Coal India: Is the Market Ignoring Potential Decline in Pricing Risk?

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Hungary: Faster earnings growth should drive GDP higher in coming months. Mexico: Expected to raise rates 50bps next Thursday in the wake of inflation reported this week at 5.3% (the highest rate in 8 years).  This is a critical positive development for the Peso. Saudi Arabia: Has the most to lose from lower prices as this complicates attempts to diversify their economy.  Iran is less concerned as they are just coming off of sanctions and any revenue they get is better than before.  Iraq would…

Hungary: Faster earnings growth should drive GDP higher in coming months. Mexico: Expected to raise rates 50bps next Thursday in the wake of inflation reported this week at 5.3% (the highest rate in 8 years).  This is a critical positive development for the Peso. Saudi Arabia: Has the most to lose from lower prices as this complicates attempts to diversify their economy.  Iran is less concerned as they are just coming off of sanctions and any revenue they get is better than before.  Iraq would…

Who Wins and Who Loses from Oil Under $50? Hint: Invest in Asia

Asia-Focused Industry Research, Speeda Research

Speeda

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Speeda Research

Speeda Research analysts cover China, Japan, India and SEA on the latest trends and topics. We have analysts of diverse nationalities who are able to access information in their respective local languages to provide customers with comprehensive reports. With access to private company data in these regions, Speeda Research is also able to provide insights into niche sectors which are not usually covered by other parties. We are also able to undertake ad hoc company and industry research reports.

In July 2015, the Indian government set a target of 10 million PNG (piped natural gas) connections to be made within two years. But as of September 2016, the government was 7 million short of its goal with the odds of achieving it in less than a year seeming very low. Increasing PNG and CNG (compressed natural gas) connections are part of the government’s wider plan to more than double the share of natural gas in India’s energy mix to 20% by 2025. To achieve this goal, the government needs to ramp up transmission infrastructure and increase capacity of import infrastructure to cater to the expected surge in natural gas imports, apart from introducing key policies with regards to pricing, taxation and regulation. Based on past evidence and the information provided within this report, we think the government will fall short of its energy mix targets, just like it did in the PNG segment.

In July 2015, the Indian government set a target of 10 million PNG (piped natural gas) connections to be made within two years. But as of September 2016, the government was 7 million short of its goal with the odds of achieving it in less than a year seeming very low. Increasing PNG and CNG (compressed natural gas) connections are part of the government’s wider plan to more than double the share of natural gas in India’s energy mix to 20% by 2025. To achieve this goal, the government needs to ramp up transmission infrastructure and increase capacity of import infrastructure to cater to the expected surge in natural gas imports, apart from introducing key policies with regards to pricing, taxation and regulation. Based on past evidence and the information provided within this report, we think the government will fall short of its energy mix targets, just like it did in the PNG segment.

Falling Natural Gas Production and Poor Import Infra Make PNG a Distant Dream for Most Indians

India

Coal India Limited produces and markets coal and coal products, as well as provides related consulting services.

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Coal India Ltd (COAL IN)

Government Intends to Stop Coal Imports for State Owned GENCOs: Positive for Coal India

In the current financial year, the Government of India is aiming to stop thermal coal imports of state owned power generation companies (GENCOs)....

Pankaj Sharma

Coal India FY18 Production Target Cut, Subdued Coal Demand Is a Big Worry for Many Sectors

It has been reported that Govt of India, a majority shareholder in Coal India, has reduced company’s production target for the current financial...

Pankaj Sharma

Coal India: Is the Market Ignoring Potential Decline in Pricing Risk?

Recently, Coal Controller’s Organization (CCO) which is responsible for grading and classification of coal mines in India has downgraded 177 of...

Pankaj Sharma

Who Wins and Who Loses from Oil Under $50? Hint: Invest in Asia

Hungary: Faster earnings growth should drive GDP higher in coming months.Mexico: Expected to raise rates 50bps next Thursday in the wake of...

David Riedel

Falling Natural Gas Production and Poor Import Infra Make PNG a Distant Dream for Most Indians

In July 2015, the Indian government set a target of 10 million PNG (piped natural gas) connections to be made within two years. But as of September...

Speeda Research

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