【出版时间及名称】：2010年2月印度电力行业研究报告
        【作者】：ANAND RATHI
        【文件格式】：pdf
        【页数】：125
        【目录或简介】：
India Power Utilities
Fencing in fuel and off-take; Buy NTPC, Tata Power
Investment Argument and Valuation .............................................3
Short-term/merchant rates on a downtrend ..................................6
Demand can surprise on the upside ..........................................................6
Generating capacity to double by FY17.....................................................6
Demand estimates ....................................................................................8
Price discovery ..........................................................................................9
Coal supply, a key concern .........................................................14
India’s coal demand to grow exponentially ..............................................14
Struggling domestic supply will lead to coal imports................................14
India-China driving international coal prices ............................................15
SEB losses weighing on sector...................................................18
Overall, SEBs operate at a loss...............................................................18
Driven by high AT&C losses . . ...............................................................18
. . . and cross-subsidization .....................................................................19
SEB losses to only worsen ahead ...........................................................20
Company Section........................................................................23
NTPC.......................................................................................................24
Reliance Power .......................................................................................41
Tata Power ..............................................................................................63
Adani Power ............................................................................................80
JSW Energy ..........................................................................................100
Annexures .................................................................................121