The largest utility company of India, Tata Power has bought 11.4% equity stake in Australian firm, Geodynamics. Tata Power is a biggest private company which generates a huge amount of electricity, while Geodynamics is a geothermal energy company.

Geothermal power is generated from the heat stored below the surface of earth. Tata Power’s investment in Geodynamics amounted to A$44.1 million (about Rs165 crores).

Technical analyst E Mathew has suggested investors to purchase Alstom Projects India Ltd (APIL) stock on declines in order to achieve a short-tern target of Rs 430.

The investors can achieve the target within a period of 3-4 weeks, and the strict stop loss for the suggested counter should be Rs 376.

Stock market analyst E Mathew has maintained ‘Buy’ rating on CESC Ltd stock with a short term target of Rs 380.

According to Mr. Mathew, interested investors can purchase the stock on declines with a stop loss of Rs 339.

Mr. Mathew also said that the stock has been recommended after analyzing its last performances. Any decline in the stock price corresponding to the broad market can be used as a prospect to take fresh exposure.

The Chairman and Managing Director of Andrew Yule & Company, Mr.

The Minister of State for Coal, Shri Santosh Bagrodia has ruled out any shortage of coal for power plants in the country. He alleged that the coal plants are failed to maintain 20 days’ stock as per norm.

He added that Plant Load Factor (PLF), Coal India Ltd (CIL) has achieved 106% of dispatch target between April-July 2008.

The shortage of coal is only due to infrastructure or law and order problems or sabotage in some parts of country. The coal supply is smooth for all other purposes other than power plants.

Godawari Power and Ispat Ltd has signed a memorandum of understanding (MoU) with the government of Chattisgarh to set up manufacturing facilities in the state with a total investment of Rs 15.70 billion (1,570 crore).

The project will be implemented through a special purpose vehicle (SPV) called “Krishna Global Minerals Ltd”, which will be a subsidiary of Godawari Power and Ispat Ltd.

Under the project, the company will set up facilities to manufacture sponge and pig iron plants, steel billets, ferroy alloys and calcination plant etc.