In 2Q17, India’s spot electricity prices were down 8.6% y-o-y. During April to May, its prices traded below 2016 levels, after which it trended in line with the 2016 lows.
SINGAPORE (July 13): UOB Kay Hian is maintaining its “buy” call on Sembcorp Industries (SCI) with a target price of $3.66 given better operational performance in its India operations.
SCI India operations reported a 5-11 ppt q-o-q improvement in plant load factors (PLF) for 2Q17, with its first power plant – Thermal Powertech Corporation India (TPCIL) – reporting 88.2% PLF and its sister power plant – Sembcorp Gayatri Power (SGPL) – reporting 77.9% PLF.
