Rural Electrification Corporation (REC), the state-run lender to the power sector, has said its loan sanctions for the next fiscal beginning April 1 may be lower than the current financial year's projections due to slowing down of projects.

"We expect to sanction loans worth Rs 36,000 crore in the next fiscal, against the sanctioning target of Rs 40,000 crore in the current fiscal," REC's director (finance) H D Khunteta said on Wednesday.

Karvy Stock Broking Limited has maintained ‘buy’ rating on Lanco Infratech stock with an intraday target of Rs 121.50.

According to Karvy, interested traders can purchase the stock between Rs 114-116 with a strict stop loss of Rs 110. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 123.
 
Shares of the company, on Wednesday (March 05), closed at Rs 114.15 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 11.49 and 10.23 respectively. The share price has seen a 52-week high of Rs 589 and a low of Rs 83.10 on BSE.

Sahara India Power Corporation Ltd., the unit of Sahara Prime City Limited has informed that it has signed a Memorandum of Understanding (MOU) with the Government of Orissa for setting up a 1320 MW (2 x 660) Coal Based Thermal Power Plant in Turla Tehsil of Balangir District.

The Turla plant, which is proposed to be built on an area of 1,500 acres, planned to begin its first Unit of 660 MW by February 2013 while the second unit of 660 MW is expected to start working within 6 to 8 months thereafter.

Will use coal from mines acquired inS Africa, Indonesia

Having bought two coal mines, one each in South Africa and Indonesia, the GMR Group is all set to establish new power plants on the east and west coasts of India.

The group is already scouting for suitable locations for setting up thermal power plants, which would use the coal from the newly acquired mines. GM Rao, chairman, GMR Group, said, "We are looking at locations on the east and west coasts, particularly in states like Gujarat and Maharashtra."

Emerges as highest bidder for power distribution in Agra

After successfully undertaking power distribution in Maharashtra, Ahmedabad-based Torrent Power will expand in Uttar Pradesh. The company has emerged as the highest bidder for power distribution in Agra, after winning the bid for Kanpur. The financial as well as technical bids were opened on Wednesday. Though UP Power Corporation Ltd (UPPCL) is still to announce the winner, sources said that the company has proposed rate of Rs1.95 per unit, 10 paise higher than Reliance and 12 paise higher than Jamshedpur Utilities abd Services Company Ltd (JUSCO).

KEC International, one of the largest Power Transmission EPC companies in the world, has secured two orders worth Rs 227 crore from Power Grid Corporation for supplying power transmission equipment.

In a disclosure to the Bombay Stock Exchange, the maker of power equipment said that it has received two 765 kV S/c projects in Madhya Pradesh and Maharashtra and in Punjab and Haryana from PGCIL.