Author Topic: NPL -- Nishat Power Limited  (Read 106777 times)

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NPL -- Nishat Power Limited
« Reply #-1 on: August 20, 2009, 12:44:54 PM »
All about Nishat power limited and Nishat chunian power limited
« Last Edit: January 26, 2012, 03:18:53 PM by M&M »

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NPL -- Nishat Power Limited
« Reply #-1 on: August 20, 2009, 12:44:54 PM »

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Re: NPL -- Nishat Power Limited
« on: August 20, 2009, 12:45:05 PM »
Nishat Power provisional listing approved

 

K
 
arachi Stock Exchange (KSE) has approved the provisional listing and quotation of shares of Nishat Power Limited (NPL) consequent upon the approval of the Offer for Sale Document (OFSD) and completion of relevant requirements under the Listing Regulations of the Exchange.


The provisional listing will take place with effect from Friday, August 21, 2009 in accordance with "The Regulations for Futures Trading in the Provisionally Listed Companies, (FTPLC), 2002," a KSE notice issued here on Wednesday said. The opening date of contract is August 21, 2009 and the closing date is October 2, 2009 while the settlement date is October 7, 2009.


The market lot for trading is 500 shares of Rs 10 each. The maximum number of shares that can remain outstanding at the close of any business day in any member's accounts would be 675,000 shares. The date of removal of the company from the futures contract would be October 5, 2009. The company is proposed to be formally listed w.e.f. Monday, October 5, 2009 and accordingly the trading in the shares of the company will be shifted to Ready Counter under T+2 Settlement System from the said date. The first settlement date would be October 7, 2009.


The KSE said that notice of formal listing containing the relevant details will be issued separately. All outstanding contracts carried out under these Regulations will be settled on the settlement date and members will not be allowed to transfer their positions to the Ready Clearing Board or any other Board.


The exchange may extend the date of settlement if the company fails to deliver the shares as per agreed time schedule. The marketable lot of the shares of the company will be one share on formal listing of the company on the Ready Market as notified vide Notice No KSE/N-3709 dated July 6, 2009.


A member of the exchange entering into futures trading in the company will have to comply with all the provisions contained in FTPLC including those relating to, trading, deposits and margins and clearing and settlement and the trading in the shares of the company will be governed by the said Regulations. The National Clearing Company of Pakistan Limited has assigned Company Code/Security Symbol to the Company as "NPL", the notice said.

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Re: NPL -- Nishat Power Limited
« Reply #1 on: August 26, 2009, 12:41:25 PM »
Nishat Power Ltd (NPL) public offering at the end of this month is crucial
because this will be the first offering at Karachi bourse after a gap of 10 months.
The likely positive response to this issue will set the direction for upcoming
offerings. In the provisional counter the share after posting a high of Rs17.44 on
Aug 21, 2009 closed at Rs16.19 on Aug 25, 2009.
Attractive at offer price but expensive at prevailing price
Comparing NPL with other listed IPPs like Hubco and Kapco, the share is not
attractive at current price of Rs16.19. With Hubco Rupee IRR of 18% (US$ IRR
of 15%) and Kapco Rupee IRR of 14% (US$IRR of 11%), the NPL at current
price is generating a Rupee IRR of 12% (US$ IRR of 9%). Thus, it looks better
to invest in Hubco at current prices rather than NPL. At Rs16.19, the dividend
yield is estimated at 11% for FY10 compared to 13% for Hubco and 12% for
Kapco.
However at the offer price of Rs10, the stock generates a Rupee IRR of 18%
and US$IRR of 15% with FY10 dividend yield of 17% and we advise investors to
subscribe to the issue. At offer price investors can make decent gains but no
chances of abnormal gains as IPPs cash flows are relatively stable and certain.
Offer likely to be over subscribed
The offer is not on book building and is based on one application of 500 shares
for one individual. Thus considering the small size of the offer, potential capital
gain (as stock is trading at 60% premium) and improving market conditions, we
expect offer to be oversubscribed. The company (Nishat Mills) is offering only
22.5mn shares which is roughly 6% of paid up capital and has a small free float
of Rs360mn or US$4.3mn (at current price) compared to the free floats of Hubco
and Kapco. The sponsors and other investors in NPL cannot sell shares for six
months.
Key features of NPL
• Main goal of NPL is to build and operate a power plan for supply of
electricity to NTDCL at US cents 12.1253 per kwh at 60% load factor.
• Project has a gross capcity of 200MW and net 195MW.
• NPL has 25 year PPA with Wapda through NTDCL.
• Total cost of project is Rs 17.7bn (US$213mn) with debt equity of
80:20. Financing has been secured.
• Loan has been secured by local banks at kibor plus 3%.
• The power purchaser will make monthly capacity and energy payments
to NPL.
• Commercial operation date as per PPA is Dec. 31, 2009. However the
claims it has started trial production from Aug 22, 2009.
• US dollar IRR of the project is 15% net of tax

Nishat Power: Good at Rs10, expensive at Rs16

Offline MAR

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Re: NPL -- Nishat Power Limited
« Reply #2 on: September 15, 2009, 06:34:31 PM »
All about Nishat power limited and Nishat chunian power limited
can anyone predict opening rates of Npl & ncpl on 7th oct.

Offline Farzooq

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Re: NPL -- Nishat Power Limited
« Reply #3 on: September 15, 2009, 08:51:44 PM »
All about Nishat power limited and Nishat chunian power limited
can anyone predict opening rates of Npl & ncpl on 7th oct.

npl 12 and ncpl 11
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Offline arauf

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Re: NPL -- Nishat Power Limited
« Reply #4 on: October 04, 2009, 10:41:27 PM »
Shares of NPL credited to cdc sub account. When the trading will comence?

Offline arauf

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Re: NPL -- Nishat Power Limited
« Reply #5 on: October 04, 2009, 10:41:59 PM »
and what are the expectations?

Offline Farzooq

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Re: NPL -- Nishat Power Limited
« Reply #6 on: October 04, 2009, 11:00:12 PM »
All about Nishat power limited and Nishat chunian power limited
can anyone predict opening rates of Npl & ncpl on 7th oct.

npl 12 and ncpl 11
and what are the expectations?

7th oct
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Re: NPL -- Nishat Power Limited
« Reply #7 on: October 15, 2009, 11:40:29 AM »
Nishat Power Limited - New power on the horizon

Nishat Power Limited (NPL) is setting up a power generation project with 200MW gross and 195.26MW net capacity located in the vicinity of District Kasur near Lahore and would operate on Residual Furnace Oil (RFO). The plant is expected to commence its commercial operations from Dec31'09. NPL has entered into a 25 years Power Purchase Agreement with WAPDA through NTDC. The power plant has a cost of PKR 17.7bn with a debt to equity ratio of 80:20. As per the ratio, the total equity injection in the project amounts to PKR 3.54bn and financing through debt would amount to PKR 14.16bn.

 

Outlook

At current price of PKR 14.45 per share, the stock is quoted at FY10E and FY11E PE of 6.62x and 6.23x respectively. Furthermore, NPL's FY10E dividend yield of 13.6% offers an attractive spread of 110bps over 10yr PIB bond. At current price levels we maintain a neutral stance on the scrip with Jun'10 PO of PKR 17.2 per share.

IGI Research

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Re: NPL -- Nishat Power Limited
« Reply #8 on: October 30, 2009, 11:24:09 AM »
29-OCT-09 NCPL Nishat Chun Power FINANCIAL RESULT FOR THE FIRST QUARTER ENDED 30/09/2009
29-OCT-09 NCPL Nishat Chun Power PROFIT/LOSS BEFORE TAXATION RS. IN MILLION (0.522)
29-OCT-09 NCPL Nishat Chun Power PROFIT/LOSS AFTER TAXATION RS. IN MILLION (0.522)
29-OCT-09 NCPL Nishat Chun Power EPS = (0.002)

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Re: NPL -- Nishat Power Limited
« Reply #9 on: October 30, 2009, 11:38:37 AM »
27-OCT-09 NPL Nishat Power Ltd. FINANCIAL RESULT FOR THE FIRST QUARTER ENDED 30/09/2009
27-OCT-09 NPL Nishat Power Ltd. PROFIT/LOSS BEFORE TAXATION RS. IN MILLION (21.660)
27-OCT-09 NPL Nishat Power Ltd. PROFIT/LOSS AFTER TAXATION RS. IN MILLION (21.660)
27-OCT-09 NPL Nishat Power Ltd. EPS = (0.061)

Offline arauf

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Re: NPL -- Nishat Power Limited
« Reply #10 on: October 30, 2009, 05:49:01 PM »
WHich one of the two is a better buy on future expected earnings basis?

Offline niaz.ahmed

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Re: NPL -- Nishat Power Limited
« Reply #11 on: February 02, 2010, 01:03:00 AM »
bhai koi news hay npl ki? bm date? Many thanks.

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Re: NPL -- Nishat Power Limited
« Reply #12 on: February 02, 2010, 01:40:27 AM »
NPL ki board meeting ko kia karo gay bhai? it will have no effect. NPL is not a dividend giving co. Just depend on its trade which is good b/w 11.5-12.5 range. it will rarely go +-5%. It is b/c it is a fix capacity power plant which has not much more or less than the determined targets. ok? same for NCPL where safer range is 9.5-10.5. enjoy trading

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Re: NPL -- Nishat Power Limited
« Reply #13 on: February 02, 2010, 09:52:15 AM »
bhai 2 - 3 months pehlay 14.35 ka lia tha. what to do book loss or hold kero. Many thanks

Offline Farzooq

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Re: NPL -- Nishat Power Limited
« Reply #14 on: February 04, 2010, 02:57:21 PM »
npl bm on 11 feb
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Re: NPL -- Nishat Power Limited
« Reply #15 on: February 12, 2010, 09:59:33 AM »
npl @ 10.8 attractive for long term investors
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Offline arifsaeed

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Re: NPL -- Nishat Power Limited
« Reply #16 on: February 12, 2010, 02:00:57 PM »
how long

um@ir

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Re: NPL -- Nishat Power Limited
« Reply #17 on: February 12, 2010, 02:08:00 PM »

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Re: NPL -- Nishat Power Limited
« Reply #18 on: March 09, 2010, 11:43:18 AM »
Nishat Power Limited
Nishat Power Limited is a public limited company incorporated in Pakistan under
Companies Ordinance, 1984 and listed on Lahore and Karachi Stock Exchanges in
Pakistan. The principal activity of the company is to build, own, operate and maintain a
Residual Furnace Oil (RFO) fired power plant based on Combined Cycle Reciprocating
Engine Technology having gross capacity of 200 MW ISO at Jamber Kalan, Tehsil Pattoki,
District Kasur, Punjab, Pakistan to carry out the business of power generation and sale
to National Transmission and Despatch Company Limited (through Central Power
Purchase Agency) on behalf of Ex-WAPDA Distribution companies.The Company has
not yet commenced commercial operation. However, during the first quarter of current
fiscal year the Company has successfully completed the pre-synchronization test and
during testing and commissioning phase it has started exporting test energy to NTDC.
The project is expected to start its commercial production by the end of 3rd quarter of
current financial year i.e. March 2010
. Its registered office is situated at 53-A, Lawrence
Road, Lahore.
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