KPCL And Larsen And Toubro Signs JV For 1600 MW Power Plant In Chhattisgarh (24-Feb-2010)
In order to boost the country''s power supply, Karnataka Power Corporation Ltd (KPCL) and Larsen & Toubro (L&T) has inked a Joint Venture (JV) agreement to carry out the 1,600 Mw (2X800 Mw) of coal-based thermal power project at Godhna (Chhattisgarh).
Mr. B S Yeddyurappa, Chief Minister of Karnataka said most of the clearances have been obtained from the state government and land acquisition (in Chhattisgarh) is also in progress
KPCL officials said the Government of Chhattisgarh has allotted 1,260 acres of land to KPCL to carry out the thermal power project.
Mr. Yeddyurappa said the Karnataka is not blessed with coal, gas or oil and so the government took initiatives to approach coal-rich Chhattisgarh to put up a super critical (energy efficient and environment friendly) thermal plant in the state of Chhattisgarh.
Mr. A M Naik, Chairman and Managing Director of L&T said the company is in discussions with the Karnataka government to participate in various infrastructure projects in the state.
L&T is currently trading at Rs.1524.65, up by 1.66% at 9.40 AM.
The stock hit an intraday high of Rs.1529.8 till now, as against the 52-week high of Rs.1800.The stock hit a low of Rs.1472.35 during the day. The stock had hit a 52-week low of Rs.557 on March 9, 2009.
The stock opens at Rs.1505 at BSE. The total traded volume of the scrip on BSE till now stood at 90310.
Meanwhile today, the BSE Sensex is trading down by -10.26 points, or -0.06% , at 16245.71 on 9:40 AM.
Meanwhile today, the NSE Nifty is trading up by 6.95 points, or 0.14% , at 4865.55.
L&T has an equity capital of Rs 120.05 crore as of 2009 Dec. The face value per share is Rs 2. At the current price of Rs 1524.65, the P/E multiple stood at 26.2606635724778 with book Value of 207.21 and P/BV at 7.36.
The total shareholding pattern of the company as on Dec 2009 stood at Promoters- 0.00%, Institutional Investors- 53.60%, General Public- 23.43% and other investors- 22.97%.
Considering the current price of Rs. 1524.65 at 9:40:00 AM , the stock had outperformed the market over the past one month till 25/02/2010 surged 4.43% as compared to the Sensex''s return of -0.27% and NSE Nifty''s -0.27 % returns.
Considering the current price of Rs. 1524.65 at 9:40:00 AM , the stock had underperformed the market over the past one quarter till 25/02/2010 declined -5.54% as compared to the Sensex''s return of -4.02% and NSE Nifty''s -4.02 % returns.
KPCL was established in 1970. Currently, it has an installed capacity of 5509.82 Mw of hydel, thermal and wind energy, with 4000 Mw in the pipeline.
The 1470 MW Raichur Thermal Power Station located in Raichur dist is accredited with ISO 14001-2004 certification for its environment protection measures.
L&T was founded in Mumbai in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro.
L&T has an international presence, with a global spread of offices, factories and offices located around the country, further supplemented by a comprehensive marketing and distribution network.
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