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    YearNet Profit MarginEBIT MarginDec 132057.2Dec 125.745.3

    Price Change %2-weeks3-monthsIndsil Hydro Power & Manganese3.02%-9.47%Iron & steel/intermediate products7.61%-5.68%Sensex5.17%5.12%

    YearRevenue GrowthDec 1319.4Dec 1212.1Dec 112.4

    ICRA has reaffirmed its long term rating on the INR20.00 crorefund based facilities of Tangling Mini Hydel power Project (TMHPP)at [ICRA]C.                         Amount   Facilities          (INR crore)    Ratings   ----------          -----------    -------   Fund-Based Limits-   Term Loan               19.40      [ICRA]C; Reaffirmed    Fund-Based Limits-   Unallocated              0.60      [ICRA]C; Reaffirmed The rating reaffirmation factors in low generation in FY 2014, aswell as in 6 months of FY2015 on account of disruption inoperations, due to a cloud burst in July 2013. ICRA's ratingscontinue to take into account the limited cushion availablebetween the cash accruals and debt repayments of the firm in anyparticular year, which makes the firm specially vulnerable in anyear of weak generation. ICRA's rating continues to factor in thecompany's weak financial risk profile characterized by weakcoverage indicators and inadequate cash accruals. ICRA's ratingalso factors in the limited track record of promoters in the hydropower sector, as well as the firm's exposure to hydrological risksas TMHPP is not covered under a deemed generation clause in caseof factors like shortage of water or loss of generation due tosilting, etc. However, the rating derives comfort from the firm's

    Haitian Hydropower International rises for a second consecutive day, a two-day rise of 4.2% 10 April, 2015 17:00 HKT



    Haitian Hydropower International Ltd. (HK:08261), rose 6.0c (or 2.5%) for a second consecutive day on Friday bringing its two-day rise to 10.0c or 4.2%. The stock last traded at HKD2.46. Compared with the Hang Seng Index which rose 1,035.5 points (or 3.95%) in the two days, this represented a relative price increase of 0.3%. This has been propped up by firm volume of 1.3 times average.

    + Net profit margin has averaged 14.5% in the last 3 years. This is better than the sector average of 9.1% and suggests a high margin of safety.
    + Net Profit margin and EBIT margin are positive and have seen consecutive rises in recent years. [Year ended, all figures in %]

    Weekly: Indsil Hydro Power & Manganese increases on weak volume



    Indsil Hydro Power & Manganese Ltd. (BSE:522165), India's 47th largest Iron & Steel/Intermediate Products company by market cap, increased Rs0.10 (or 0.3%) in the trailing week to close at Rs39.20. Compared with the BSE Sensex Index which rose 604.0 points (or 2.1%) in the week, this represented a relative price change of -1.9%. The volume was 0.4 times average trading per week of 86,335 shares. The stock rose for a second week on Friday bringing its a two-week rise to Rs1.15 or 3.0%. In the past week the market cap has risen Rs1.6 million.

    IFC seeks 'bankable PDA' to build Upper Trishuli-1 hydroelectric project


    KATHMANDU: The International Finance Corporation, the private sector wing of the World Bank Group, is preparing to mobilise necessary funds to build Upper Trishuli-1 hydroelectric project within the next four months.

    Turboatom Modernizes, Commissions Turbine No.6 At Dniprodzerzhynsk HPP


    Turboatom, the largest turbine manufacturer based in Kharkiv, has modernized and commissioned hydroturbine No.6 at Dniprodzerzhynsk hydroelectric power station (Dnipropetrovsk region), part of the Dnieper Cascade, Turboatom has said.

    Guangdong No.2 Hydropower Engineering - A Share closes at 6.2% above VWP 10 April, 2015 15:30 CST



    Guangdong No.2 Hydropower Engineering Co - A Share (SZ:002060), Shenzhen's 34th largest Energy company by market cap, increased 16.0 fen (or 1.8%) to close at CNY8.89. The price is at a premium of 6.2% to the 1-month volume weighted average price of CNY8.37. Given that this premium has been under 6.2% one hundred seventy-five times and over 6.2% sixty-three times in the last year, the downside:upside probability is estimated at 175:63 or 2.8:1. Compared with the SZSE 100 Index which rose 20.3 points (or 0.4%) in the day, this represented a relative price increase of 1.5%. This has been propped up by firm volume of 1.5 times average.

    + Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.5. Compared with the rest of the market the stock is undervalued and ranks in the top 3% of stock by value of Q Ratio.
    + Revenue growth rate is positive and has seen consecutive rises in recent years. [Year ended, all figures in %]

    Don't Abandon Hydro Power, Please [editorial]


    The government of President John Dramani Mahama is shifting "more to thermal instead of hydro" power generation in his avowed desire to permanently solve the current energy crisis in the country.

    Labour moot calls for end to privatisation


    A labour conference convened by the Awami Workers Party (AWP) on Wednesday called for an immediate halt to privatisation of public-sector enterprises.
    A large number of workers representing Wapda Hydroelectric Trade Union, All-Pakistan Trade Union Federation, All-Pakistan Workers Confederation, Home-based Workers Union, Railway Workshop Union and others thronged the Aiwan-i-Iqbal venue for the moot to register their annoyance against the privatisation process set in motion by the PML-N government.

    TANGLING MINI: ICRA Reaffirms C Rating on INR19.40cr Term Loan


    China's environment ministry blocks hydro project


    China's environment ministry has refused approval for a hydropower dam on an ecologically vulnerable river already damaged by construction, a rare setback for the country's extensive dam-building program.

    Krasnoyarsk Hydro-Power Plant in 3rd daily fall, nears one-month low 10 April, 2015 18:00 SAMT



    Krasnoyarsk Hydro-Power Plant (MICEX:KRSG), Russia's 8th largest Electric company by market cap, slipped further on Friday, sliding an additional 50.0 Kopeck (or 0.7%) to trade at RUB70.0. The stock decreased 0.3% on Wednesday and 0.3% on Thursday bringing its 3-day fall to 1.3%. It is now approaching its 23-day low of RUB68.0. Compared with the MICEX Index which fell 9.2 points (or 0.6%) in the day, this represented a relative price change of -0.2%. The volume was 0.1 times the average trading of 5,896 shares.

    Overvaluation [compared with sector average]:
    + Price/Sales of 4.4 [2.9].

    Fire causes another Flamborough power outage


    By Mac Christie, Review Staff

    A fire involving five hydro poles and one cross arm caused a power outage affecting 929 customers in the Hwy. 6. and 6th Concession East area Tuesday evening.

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