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Should re-rate on the back of the interims in about 3weeks time.
The institutional seller has been what has been holding OPG back. Assuming they are now cleared this should start to fly. Its a shame the investor presentation was cancelled yesterday.
But maybe best to delay it and arrange to do it after issuing a set of fantastic interim results to wet the appetite of any new investors.
The management have proven themselves navigating the last 2years and still turning profits, the good times are back and we will see continued growth over the coming months and return of dividends.
Given the increase demand for Power in India, and clear guidance across all areas for local councils to run all plants at 100% lately, as well as the commitment to build new coal power stations in the short term, various companies listed in the BSE have had a re-rating.
The most relevant comps to OPG are Gujarat Power Industries (+55% in last 6 months) , CESC (+30% in last 6 months), NTPC (+35% in last 6 months), NLC (+78% in last 6 months), Reliance (+77% in last 6 months), Jaiprakash (+147% in last 6 months), Rattan India (+156% in last 6 months). OPG is up 50% as well but on an EV/EBITDA metric lags way behind its peer group. There's quite a bit more to run on this one I think.
Jaiprakash Power Ventures biggest riser on Indian market up 42% over past 7 days read across for OPG
Dave
Can you stop comparing other stocks all the time .
It is becoming annoying how often you repeat it .
We know your average is much higher , so are desperate to get your money back and get out
Crazy this reaction or lack of reaction, it's being totally manipulated as normal. Some other stocks flying have terrible fundamentals next to this one. Anyway interims will indeed see the price fly, can anybody hold 4-6 weeks for them these days I certainly can
Yes they've historically released their half year report in early December so looking forward to that.
Interims due in a few weeks will show increased profits and really catapult the shareprice to 20p+
Also expecting a return to dividends for 2024
Pleased with £7.3M NP and EPS of 1.8p.
Significantly higher than the forecast of £2.1M NP and ESP 0.5p published on Stocko
And the future is looking very bright indeed.
First 6months showed a loss
Final 6months to april 23 have generated over 10m in profit
PLF has increased since april and coal price has continued to fall, looking forward to the interim results should be well on track for 30m profit for y/e24
Should be an interesting day as most of the shares are tightly held so should rerate quickly.
Yes would be lucky
I expect results followed by a very positive trading update
Will have to be quick monday morning as could be mad rush to get in
Phew!
Monday it is
Will be an nteresting day
Hmmmmmm.
Disappointing that they don't appear to have met their deadline nor put anything out to explain why not. All we can hope is that the deadline has been met (or about to be met) and an RNS will follow some time this week. If no news this week then I fear the worst........
Good luck all......
No Bse filing so dont see it being lifted not sure where ronald gets his info from
If they miss it by more than a few days I guess Cavendish will be pretty pi***d
I kind of thought that i.e. it was mentioned in the original message about suspension.
I haven't seen anything in the meantime to suggest they are going to meet the deadline of the end of the month. Failure to meet that deadline is going to kill this sp.
Just have to hope they are as good as their word. Fingers crossed for little red RNS dot tomorrow morning, other wise.........
In the Sept trading update they said audit would be complete and accounts published by end of Oct Therefore tomorrow. If not tomorrow then this is likely to take a hit.
Hey Ronald.....where have you seen the news that the suspension will be lifted tomorrow?
Suspension lifted tomorrow and re-rate
In August 2023, the India experienced its lowest August rainfall since 1901, resulting in hot weather conditions. This, in turn, led to an unprecedented surge in electricity demand for the month. According to data published by Grid-India, the country's electricity consumption was recorded at 152 BU in August 2023, an increase of 16% year-on-year. Notably, on August 31, 2023, the country witnessed an all-time high peak demand of 236 GW along with the highest ever single day energy consumption of 5126 MU. Due to the combination of higher demand and supply constraints, prices on the Indian Energy Exchange (IEX) during the month reached Rs. 6.89/unit, marking a 33% year-on-year increase. ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET The Day-Ahead Market (DAM) volume increased to 3,810 MU in August ’23, from 3,551 MU in August '22, growing 7.3% YoY. The average market clearing price was Rs. 6.89/ unit during the month, up by 33% over the corresponding month last year. The Real-Time Electricity Market (RTM) achieved 2,738 MU in August ‘23, registering an increase of 21% YoY. It is noteworthy to mention that IEX achieved the highest ever single day volume of 135.28 MUs in RTM on August 24, 2023. The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis. The Term-Ahead Market (TAM) and the Day Ahead Contingency Market (DAC), comprising intra-day, contingency, daily & weekly contracts, and contracts up to 3 months, traded 1,673 MU during August ‘23, higher by 131.5% on YoY basis.
Trading in OPG to resume within the next 2weeks.
Lets hope its not a HS2 train
Never been happier to see a share be suspended, there will be another trading update prior to it resume trading and it will open 19p and straight into 20p+
Watch this space
End of play today the train will have left the platform
Unbelievable share price when the company is doing very good
"With a continual downward trend in coal prices, the industry and the Company are seeing significant growth and OPG expects materially increased generation and revenue in FY24 with plant load factors expected to increase to approximately 58%. In addition to the Long Term Power Purchase Agreement with Tamil Nadu State utility for 74 MW, the Company secured a contract in September 2023 with another State utility up to 280 MW at an attractive tariff which is valid for five months during H2 FY24.