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JSW Energy Limited (JSWE.BO)
Research Tactical Idea
We believe the share price will fall relative to the country index over the next 45 days.
The company will report its F2Q12 results in the second week of November, and we expect earnings to be weak at
Rs83mn and significantly lower than the Street estimate of Rs730mn. The Ratnagiri and Vijaynagar plants recorded low
PLF during the quarter, and the Barmer units remain shut. In addition, the 10% weakness in the rupee against the US
dollar in the month of September could further affect coal costs (due to exposure to imported spot coal).
We estimate that there is about a 60% to 70% or "likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Underweight
Industry View: Cautious
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
JSW Energy Limited (JSWE.BO)
Research Tactical Idea
We believe the share price will fall relative to the country index over the next 45 days.
The company will report its F2Q12 results in the second week of November, and we expect earnings to be weak at
Rs83mn and significantly lower than the Street estimate of Rs730mn. The Ratnagiri and Vijaynagar plants recorded low
PLF during the quarter, and the Barmer units remain shut. In addition, the 10% weakness in the rupee against the US
dollar in the month of September could further affect coal costs (due to exposure to imported spot coal).
We estimate that there is about a 60% to 70% or "likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Underweight
Industry View: Cautious
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