Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

CRISIL Grades Tata Power with AA- (Positive)

Posted On: 2019-06-07 17:09:44

Tata Power, India's largest integrated power utility, has been graded with AA- (Positive) by CRISIL, a pioneer of credit rating in India. It has revised Tata Power's ratings for debts instruments and long-term banking facilities from AA-(Stable) to AA-(Positive), indicative of a potential upgrade to a better rating in the forthcoming future. This move came after Tata Power cleared all dues on debentures worth INR1,082 crore and term loan of INR605 crore.

The Company's outlook is revised based on improved visibility on the implementation of the high power committee's (HPC) recommendations for Coastal Gujarat Pvt. Ltd. (CGPL, rated CRISIL A-/CRISIL AA-(SO)/Positive/CRISIL A1+(SO)'), a wholly owned subsidiary of Tata Power.

CRISIL believes this could substantially reduce CGPL's losses. Furthermore, the company's non-core asset sales could help it further reduce its leverage.

Tata Power's power generation and distribution projects in Mumbai and New Delhi accounted for over 45% of the EBITDA consolidation observed in FY2019 and are expected to provide stable cash accrual in the future.

Additionally, Tata Power's extensively diverse business profile in the global power sector in traditional and renewable energy verticals is expected to bolster its credit rating in the foreseeable future. As of March 2019, the Company holds thermal and clean power generation plants with a combined capacity of 11 gigawatts. It's expertise in power trading and investments in fuel supply chain are likely to aid in significant improvement of operational efficiencies across these facilities.

Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.66.1 as compared to the previous close of Rs. 65.25. The total number of shares traded during the day was 359903 in over 1469 trades.

The stock hit an intraday high of Rs. 66.25 and intraday low of 64. The net turnover during the day was Rs. 23531479.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Asian Granito in Fortune India's List as one of The Next Fortune 500 companies

Pantaloons Celebrates the Pujo Rockstars this Pujo with its new campaign

Indian Overseas Bank celebrates Hindi Month - 2019

Alkem Laboratories Ltd acquires undertaking from subsidiary

Sakthi Sugars Ltd agrees for OTS with Bank of India

Pidilite Industries Ltd forms subsidiary

Corporate Tax reduction - Mr. Kamlesh Patel, Chairman and Managing Director - Asian Granito India Ltd

Seamec Ltd announces extension of long term charter for SEAMEC II with HAL Offshore Ltd

Nippon Express to Acquire 22% Stake in Future Supply Chain Solutions Ltd

Hexaware's Salesforce practice has been awarded Gold Consulting Partner status

Lupin receives sANDA approval from U.S. FDA for Levothyroxine Sodium Tablets USP to be considered AB rated to Reference Listed Drug, UNITHROID®

USFDA approval for Unichem Laboratories Ltd's plant at Kolhapur

Zensar Recognized in the 2019 Gartner Magic Quadrant for Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America

Asian Paints launches 'AP Homes' in Bengaluru, its state-of-the-art multi-category décor showroom

Allahabad Bank Introduces External Benchmark Linked Loans under Retail and Micro & Small Enterprises

IndiGo inaugurates flights between India and Myanmar

Strides Board approves incremental investments in Stelis

Himatsingka Seide Ltd board approves investment of Rs. 17.34 crore in wind power SPVs

AXIS Bank Ltd board to consider Q2 results on Oct 21, 2019

Bingo! Pujo Tadka enlivens the festive spirit of Durga Pujo

Just Launched: Official App for TCS Lidingöloppet 2019 Packed with Exciting New Features

Raksha Mantri inaugurates Engineers Conclave (2019), Product Development & Innovation Centre of BEL

Redington offering the latest products from Apple, including iPhone 11 Pro and iPhone 11 Pro Max

Dilip Buildcon Ltd completes road project in Punjab

Anuh Pharma Ltd successfully completes USFDA inspection

Bajaj Electricals Limited receives 2019 ASCM Corporate Award of Excellence for Advance Supply Chain Industry

Brickwork Ratings downgrades rating of Reliance Home Finance Ltd

Morgan Credits Private Limited has sold 2.3% stake in YES Bank Ltd

AXIS Bank opens QIP, fixes floor price as Rs. 661.50

Lux Industries Limited issues CPs of Rs. 50 crore

Godrej Consumer Products Ltd increases stake in subsidiaries

ICRA reaffirms ratings of Reliance Chemotex Industries Ltd

Lincoln Pharmaceuticals Ltd board approves merger of Lincoln Parenteral Ltd

Thyrocare Technologies Ltd calls for board meeting on Sep 21, 2019

Capital India Finance Ltd inks MOU with Union Bank of India for Loan Co-origination

Morepen Laboratories Ltd board approves preferential issue

Mahindra BAJA SAEINDIA 2020 Commences its 13th edition

NMDC revises prices of Iron Ore w.e.f. 19-09-2019

Speedcast and Nelco Awarded Remote Communications Contract for Leading Indian Cruise Line

Bharat Forge Ltd acquisition update regarding Refu Drive GmbH

Kolte-Patil Developers delivers strong returns to Motilal Oswal Real Estate from its City Avenue Project

Astral Poly Technik Limited allots 3,01,32,441 bonus shares

Surya Roshni Ltd bags order of Rs.79.80 crore

TCS a Leader in Software Product Engineering Services: Everest Group

Thomas Cook India observes an impressive 21% growth in demand during Durga Puja

Now buy Detel TVs and connected essentials in IndiGo flights

TVS Motor Company launches TVS NTORQ 125 Race Edition

IDBI Bank board approves preferential issue to Government and LIC

1 millionth Maruti Suzuki car exported from Gujarat's Mundra Port

Mindtree Opens New European Headquarters in London







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019