Adani Power: Bumpy road ahead ::Kotak Securities PDF link

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Adani Power: Bumpy road ahead
` Imported coal - assured supply at US$36/ton hinges on ramp-up at Bunyu
Island
` Domestic coal availability and pricing indecisive despite Government
directive
` Incidence of MAT at Mundra could further erode value

http://www.kotaksecurities.com/pdf/indiadaily/indiadaily06032012.pdf