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Jaiprakash Associates Limited (JAIA.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 60 days.
This is because the stock has traded off recently, making short term valuation much more compelling. Jaiprakash's power
subsidiary has commissioned the first unit of 1000 MW Karcham Wangtoo hydropower project in F1Q12 and expects to
commission the entire plant by F2Q12 – a quarter ahead of schedule. We believe that Jaiprakash's potential securitisation
of the receivables from this plant would enable it to significantly narrow its funding gap, which has been one of the major
market concerns on the stock.
We estimate that there is about an 80%+ or "highly likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: Attractive
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Jaiprakash Associates Limited (JAIA.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 60 days.
This is because the stock has traded off recently, making short term valuation much more compelling. Jaiprakash's power
subsidiary has commissioned the first unit of 1000 MW Karcham Wangtoo hydropower project in F1Q12 and expects to
commission the entire plant by F2Q12 – a quarter ahead of schedule. We believe that Jaiprakash's potential securitisation
of the receivables from this plant would enable it to significantly narrow its funding gap, which has been one of the major
market concerns on the stock.
We estimate that there is about an 80%+ or "highly likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: Attractive
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