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    QtrRevenue GrowthNet Profit GrowthNet Profit MarginDec 13-31.7--5.4Sep 1323.2-449.7Jun 1339.1-20.9

    QtrRevenue GrowthNet Profit MarginSep 13-59-42.1Jun 1314.4-30.6Mar 13-812

    Naloi Hydropower decreases 1.2% on weak volume 24 April, 2014 17:30 ICT

    04/24/2014

    VIETNAMESE DAILY STOCK REPORT

    Naloi Hydropower (HNX:NLC), Vietnam's 10th largest electric company by market capitalisation, decreased VND300.0 (or 1.2%) to close at VND24,200.0, ending a two-day streak of rises. Compared with the VN Index which rose 2.0 points (or 0.4%) in the day, this represented a relative price change of -1.6%. The volume was 0.6 times the average trading of 5,325 shares.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity of 9.5% is lower than sector average of 10.3%. This is computed as net profit margin of 19.3% times asset turnover [sales/assets] of 0.46 times leverage factor [total assets/shareholders' equity] of 1.1.

    Nam Mu Hydropower Joint Sock Company climbs 4.3% on low volume 24 April, 2014 17:30 ICT

    04/24/2014

    VIETNAMESE DAILY STOCK REPORT

    Nam Mu Hydropower Joint Sock Company (HNX:HJS), Vietnam's 7th largest electric company by market capitalisation, climbed VND500.0 (or 4.3%) to close at VND12,000.0. Compared with the VN Index which rose 2.0 points (or 0.4%) in the day, this represented a relative price increase of 4.0%. The volume was 0.1 times the average trading of 43,983 shares.

    BULLISH SIGNALS
    Fundamentals:
    + The P/E of 6.8 multiplied by the P/NTA of 1 is 6.9. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.
    + Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.3. Compared with the rest of the market the stock is undervalued.
    + Net profit margin has averaged 13.6% in the last 3 years. This is better than the sector average of 7.3% and suggests a high margin of safety.
    + As per the Du Pont analysis, Return on Equity of 14.8% is better than sector average of 10.3%. This is computed as net profit margin of 19.7% times asset turnover [sales/assets] of 0.2 times leverage factor [total assets/shareholders' equity] of 3.8.

    Southern Hydropower in 2nd daily fall, nears two-month low 24 April, 2014 17:30 ICT

    04/24/2014

    VIETNAMESE DAILY STOCK REPORT

    Southern Hydropower JSC (HNU:SHP), Vietnam's 12th largest engineering & construction company by market capitalisation, slipped further on Thursday, sliding an additional VND200.0 (or 1.6%) to trade at VND12,000.0. The stock dropped 2.4% on Wednesday bringing its 2-day fall to 4.0%. It is now testing its 34-day low of VND12,000.0. Compared with the VN Index which rose 2.0 points (or 0.4%) in the day, this represented a relative price change of -2.0%.

    BEARISH SIGNALS
    Fundamentals:
    Overvaluation [compared with sector average]:
    + Price to Book of 1.1 [0.9].
    + Return on Capital Employed 5.3% [7.9%].

    Morning Alert: Krasnoyarsk Hydro-Power Plant keeps rising: up 13.4% in 3 days 24 April 2014 11:09 SAMT

    04/24/2014

    RUSSIAN INTRA-DAY STOCK REPORT

    Krasnoyarsk Hydro-Power Plant (MICEX:KRSG) extended its gains Thursday, rising an additional RUB1.58 (or 4.1%) to trade at RUB39.93. Trading volume has been 67% of average so far today. The shares have risen RUB4.71 (or 13.4%) over the past three trading days vs. the MICEX Index which has fallen 1.0% in the same period.

    Guangdong Meiyan Jixiang Hydropower in 4th daily fall, nears two-month low 24 April, 2014 15:30 CST

    04/24/2014

    CHINESE DAILY STOCK REPORT

    Guangdong Meiyan Jixiang Hydropower Co., Ltd. (SS:600868), Shanghai's 12th largest engineering & construction company by market capitalisation, slipped further on Thursday, sliding an additional 5.0 fen (or 2.1%) to trade at CNY2.31. The stock decreased 0.8% on Tuesday and 0.4% on Wednesday bringing its 4-day fall to 3.8%. It is now testing its 44-day low of CNY2.31. Compared with the SSE 180 Index which fell 6.3 points (or 0.1%) in the day, this represented a relative price change of -2.0%.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity is less than stellar at 1.6%. This is computed as net profit margin of 5.5% times asset turnover [sales/assets] of 0.21 times leverage factor [total assets/shareholders' equity] of 1.4.
    + Revenue growth and Net Profit margin have shown signs of deterioration in recent quarters. [Quarter ended, all figures in %]

    Thac Ba Hydropower increases 1.0% on average volume 24 April, 2014 17:30 ICT

    04/24/2014

    VIETNAMESE DAILY STOCK REPORT

    Thac Ba Hydropower Joint Stock Company (HOSE:TBC), Vietnam's 4th largest electric company by market capitalisation, increased VND200.0 (or 1.0%) to close at VND19,500.0. Compared with the VN Index which rose 2.0 points (or 0.4%) in the day, this represented a relative price increase of 0.7%. This has been propped up by average volume of 1.1 times average.

    Central Hydropower unchanged after finding support 24 April, 2014 17:30 ICT

    04/24/2014

    VIETNAMESE DAILY STOCK REPORT

    Central Hydropower JSC (HNU:CHP), Vietnam's 3rd largest energy company by market capitalisation, was unchanged after hitting the lower Bollinger Band twice in the last ten days. This is a bullish signal. The lower Bollinger Band marks the trajectory of support on a stock price. The stock price closed unchanged at VND11,000.0. Compared with the VN Index which rose 2.0 points (or 0.4%) in the day, this represented a relative price change of -0.4%.

    Sichuan Minjiang Hydropower - A Share decreases 1.3% - trailing 89% of stocks 24 April, 2014 15:30 CST

    04/24/2014

    CHINESE DAILY STOCK REPORT

    Sichuan Minjiang Hydropower Co., Ltd - A Share (SS:600131), Shanghai's 52nd largest energy company by market capitalisation, decreased 5.0 fen (or 1.3%) to close at CNY3.75. In the Shanghai market of 936 stocks traded today, the stock has a 6-month relative price strength of 11 indicating it is trailing 89% of the market. Compared with the SSE 180 Index which fell 6.3 points (or 0.1%) in the day, this represented a relative price change of -1.2%.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity of 8.4% is lower than sector average of 11.2%. This is computed as net profit margin of 7.9% times asset turnover [sales/assets] of 0.37 times leverage factor [total assets/shareholders' equity] of 2.9.
    + Net Profit margin has shown signs of deterioration in recent quarters. [Quarter ended, all figures in %]

    Investment Board meeting ends inconclusively

    04/24/2014

    KATHMANDU, April 23 -- The meeting of Investment Board Nepal (IBN) ended inconclusively on Wednesday, as officials of both IBN and the Ministry of Energy (MoE) staked claim to implement four mega hydropower projects and some transmission lines project.

    Cheryl Gallant Will Seek Federal Review of Ontario Energy Market

    04/24/2014

    Office of the MP Cheryl Gallant, Canadian Government has issued the following news release:

    Photo: Cheryl Gallant, MP (middle) talking hydro charges with Killaloe, Hagarty and Richards Councillor and Renfrew County Private Landowners Association President John Jeffries and President of the Round Lake Property Owners Association Rob Norris.

    Rosneftegas is looking to invest over $1bn in RusHydro

    04/23/2014

    State-owned oil and gas company Rosneftegas is looking to invest up to RUB 40bn (approx. USD 1.12bn) into the authorized capital of hydropower company RusHydro by buying quasi-treasury and additional shares, Kommersant reported today, citing sources close to the talks.

    Nam Mu Hydropower Joint Sock Company sinks 5.0% on low volume 23 April, 2014 17:30 ICT

    04/23/2014

    VIETNAMESE DAILY STOCK REPORT

    Nam Mu Hydropower Joint Sock Company (HNX:HJS), Vietnam's 8th largest electric company by market capitalisation, sank VND600.0 (or 5.0%) to close at VND11,500.0. Compared with the VN Index which rose 1.0 points (or 0.2%) in the day, this represented a relative price change of -5.1%. The volume was 0.01 times the average trading of 43,995 shares.

    BEARISH SIGNALS
    Fundamentals:
    Overvaluation [compared with sector average]:
    + Price/Sales of 1.3 [1.0].

    Chilime Hydro Power falls in 4 out of last 5 days 23 April, 2014 15:00 NPT

    04/23/2014

    NEPALESE DAILY STOCK REPORT

    Chilime Hydro power Co. (NEPSE:CHCL) decreased NPR5.0 (or 0.3%). The stock fell in four out of last 5 trading days, for a 5-day fall of 2.6% to close at NPR1,890.0. Compared with the Nepse Index which rose 4.9 points (or 0.6%) in the day, this represented a relative price change of -0.9%.

    World Bank to Finance New Hydropower Development in Burundi

    04/23/2014

    World Bank issued the following news release:

    The World Bank's Board of Executive Directors today approved a US$100 million grant to the Republic of Burundi to finance the Jiji and Mulembwe hydropower project.

    Only four percent of Burundi's 10 million people currently have access to electricity, marking some of the lowest access rates anywhere in the world. As Burundi grows, its demand for electricity is surging, and is expected to grow from 46 megawatts (MW) in 2012 to 92 MW by 2018, reaching a high of 192 MW by 2025.

    "My government has resolved to increase energy supply for economic growth, jobs and the well-being of all Burundians," said H.E. Come Manirakiza, Minister for Energy and Mines, Burundi. "I would like to thank the World Bank for supporting this energy project that will be developed in an environmentally and socially responsible manner."

    POWER

    04/23/2014



    Rosneftegaz might inject 40 bln rubles into RusHydro for 11% stake - paper

    State holding company Rosneftegaz is prepared to invest up to 40 billion rubles in RusHydro as part of a new share offering by Russia's largest hydropower company, national daily Kommersant reported on Tuesday, citing sources.

    Rosneftegaz would buy 2.25% of shares in RusHydro from the latter's subsidiaries, as well as new shares to be issued by the company, giving it a stake of up to 11%, the paper said.

    The quasi-treasury stock would be purchased at a "market" price for 4.7 billion rubles or 0.55 rubles per share. Rosneftegaz is prepared to spend another 35.3 billion rubles on new shares to be issued by RusHydro. At a price of 1 ruble per new share, Rosneftegaz would get another 8.37% of stock in the generating company.

    No load-shedding in state this summer, says DK Shivakumar

    04/23/2014

    Bangalore: Energy minister DK Shivakumar on Tuesday said there would be no load-shedding in Karnataka this summer as all hydro power plants in the state have been working to optimum capacity.

    Naloi Hydropower up 4.3% in 2 days 23 April, 2014 17:30 ICT

    04/23/2014

    VIETNAMESE DAILY STOCK REPORT

    Naloi Hydropower (HNX:NLC), Vietnam's 10th largest electric company by market capitalisation, extended its gains Wednesday, rising an additional VND700.0 (or 2.9%) to close at VND24,500.0. The shares have climbed VND1,000.0 (or 4.3%) over the past two trading days. Compared with the VN Index which rose 6.9 points (or 1.24%) in the two days, this represented a relative price increase of 3.0%.

    BULLISH SIGNALS
    Fundamentals:
    + The P/E of 12.2 multiplied by the P/NTA of 1.2 is 14.2. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.
    + The company is cash rich with Cash to Market Capitalisation at 18.7%.
    + Interest cover defined by EBIT/I is 146.5 times. This indicates it is less leveraged.
    + Tobin's Q Ratio, defined as MCap divided by Total Assets, is 1.1. Compared with the rest of the market the stock is undervalued.
    + Net profit margin has averaged 26.7% in the last 3 years. This is considered superior and suggests a high margin of safety.

    Krasnoyarsk Hydro-Power Plant in 2nd daily rise, nears three-month high 23 April, 2014 18:00 SAMT

    04/23/2014

    RUSSIAN DAILY STOCK REPORT

    Krasnoyarsk Hydro-Power Plant (MICEX:KRSG), Russia's 12th largest electric company by market capitalisation, extended its gains Wednesday, rising an additional RUB1.36 (or 3.7%) to trade at RUB38.35. The stock climbed 5.0% on Tuesday bringing its 2-day rise to 8.9%. It is now approaching its 55-day high of RUB40.0. Compared with the MICEX Index which fell 8.9 points (or 0.7%) in the day, this represented a relative price increase of 4.3%.

    BULLISH SIGNALS
    Technicals:
    Uptrend: The stock hit a three-month high.
    + The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 36.5 minus the 26-day EMA of 35.99 is positive 0.51 suggesting a bullish signal.
    + Rises to Falls: in the past month the number of rises outnumbered falls 12:7 or 1.7:1.
    + The stock's relative price strength percentile is rising at 43 for 6 months, 47 for 3 months and 80 for 1 month.

    PPIB seeks proposals for development of raw sites for two hydel projects

    04/23/2014

    The Private Power and Infrastructure Board (PPIB) has invited proposals from interested private sector entrepreneurs for development of raw sites for 350 MW Athmuqam Hydropower and 132 MW Rajdhani Hydropower projects.

    Pakistan: PPIB seeks proposals for development of raw sites for two hydel projects

    04/23/2014

    ISLAMABAD, April 23 -- The Private Power and Infrastructure Board (PPIB) has invited proposals from interested private sector entrepreneurs for development of raw sites for 350 MW Athmuqam Hydropower and 132 MW Rajdhani Hydropower projects. The last date for submission of proposals is June 20. The interested party/parties can submit proposals for one or both the raw sites after fulfilling pre-requisite formalities of separate registration and purchasing of Expression of Interest (EOI) of the project. EOI document can be obtained either online or from PPIB office upon payment of $200 registration and $1500 EOI document fee respectively.Payments will also be accepted in equivalent Pakistani Rupees. Athmuqam Hydropower Project will be located on Neelum River, a tributary of Jhelum River while 132 Raw Sites Rajdhani Hydropower Project will be located on Poonch River in Azad Jammu and Kashmir. Both Projects shall be implemented under the government policy for Power Generation Projects 2002 which provides attractive set of incentives to the private sector for investment in power generation projects in the country

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