fast growing Indian company operates and develops power plants in India..Cheap at 70p after floating at 60p on 30th May.

Thanks Halifax. If I was psychic I would have done - but RNS was 2 hours after I'd posted.
Another good day today and no reason not to enjoy the ride with a trailing stop in place.

I've been acquiring quite a bit of stock here and now I'm done I want to enjoy the ride for the next few years - hopefully!. Great piece of news that was on Gujarat: "OPG Power Ventures plc has signed a Memorandum of Understanding with India's Gujarat state to develop 5,400 MW of generation capacity, of which 1400 MW is to be gas-based. CEO Arvind Gupta saod, 'This is a significant step towards delivering on our commitment to become the provider of choice " Perhaps we can expect further newsflow before too long - this is a huge capacity rise and clearly underpinning the stock.

Even following the recent rise it now looks dirt cheap. I understand that house broker is forecasting Ebitda to exceed gbp 130m and eps to 25p+. This would imply a massive potential to the upside and a multi bagger from the current levels.

From my reseach the State of Gujarat is the wealthiest in India and has a high intensity of industrial companies - companies which are power hungry.

The proposed sites in Gujarat should have huge economies of scale. Not only is the company expanding at a fast rate but to be in power in the 4th largest economy of the world looks irresistable in 2011.

mitzy, can you add 50 and 200d moving averages to the graph please?

from OPG website:

The Government of India has, since 2005 -06, undertaken plans for a major transformation of Indian Infrastructure, including the power sector. The OPG Power Group was established in 2004 with the goal of providing reliable and cost effective power to Industry. In the last few years OPG has consolidated its position as a private producer of power serving industry in the state of Tamil Nadu. OPG is presently implementing plans that, by 2012, will realise for the group close to 500MW of power generation capacity with significant presence in the industrialised state of Gujarat and expanded operations in Tamil Nadu.


So according to the RNS regarding the MoU, OPG have an agreement to build for up to 5400 MW of generation capacity. Am I missing something here or is this figure explosive and far in excess of what we knew about? Yes, given that this will require additional future funding etc etc. What a shame it's not ISAable!

Under the MOU, the Government of Gujarat is to facilitate approvals for the component projects in accordance with applicable rules and policies. Management will now progress its plans to implement the MOU and details of individual projects to be developed shall be announced in due course. In addition to projects foreseen under the MOU the Company currently has projects with an aggregate capacity of 644 MW under operation or development with projects under development (537 MW) to be commissioned in the year 2013. This will bring OPG's total project capacity to over 6000 MW throughout India of which 644 MW is already in generation or under development.

Like the sound of individual projects to be announced in due course.

New plant on the cards, starting to head higher again this week:
OPG Power Ventures plc, the developer and operator of Group Captive and Merchant power stations in India, is pleased to announce the acquisition of a new brownfield site and the expansion of one of the Company's existing units.


Acquisition of property for brownfield construction at Bellary, Karnataka

The Company's cash bid of Rs 64.90 crores (approximately 9.6 Million) for a 120 acre property at Bellary, Karnataka has been accepted.

The property, which is located close to railway lines and accessible by road from the state highway, includes a 12 MW partially constructed thermal power plant and associated infrastructure. The Company currently expects to commission the 12 MW plant by Q3, 2012. In addition, the directors believe that with the necessary land and certain infrastructure already in place, a 250-300 MW power station can be built on this site. The Company has commenced drawing up plans for such a development.


Expansion to 25.4 MW of the gas fired power station in Mayavaram, Tamil Nadu

As a result of increased gas availability from its present suppliers, the Company is increasing production at this site by 6 MW to 25.4 MW. The additional gas supplies will utilize existing supply infrastructure and additional gas engines capable of handling 6 MW additional production have been ordered and are due for delivery in the coming months. Commissioning of the additional capacity is expected to be achieved by June 2011 at a total cost of 2.2 Million which is to be financed from the plant's cashflows and approved debt.


Commenting on the development, Arvind Gupta, Chief Executive said,The acquisition of property at Bellary offers us the scope to build a sizeable thermal power plant as our first initiative in Karnataka which, similar to our other locations, is highly industrialised and growing and therefore presents an excellent opportunity for the Group to pursue its mission to be the supplier of choice of uninterrupted power to Indian industry."


For further information, please visit www.opgpower.com or contact:

A lot of news after the bell including a placing at 5% discount to fund the substantial growth programme. With 107 MW of generation representing the current size of the company and growth estimates of 1250 MW capacity by 2015, that's some change to the company. Just unfortunate that we couldn't get in with a 5% discount as well!

Steady tick higher on the expansion news today and the placing already in place for future growth. I'm considering taking another tranche to tuck away for a few years but already quite overweight

Matrix out with buy rec today, target 124p

Good volume coming through, possibly on the back of the latest buy rec. The December (2010) buy rec from Cenkos Securities has a target price of 240p - that looks well out of date to me following all the recent news and future earnings/price targets should be substantially higher imo. Dirt cheap, dyor.

Back up near the highs. Capacity set to transform this company - considering taking another tranche.

Annual results today and very well received. Plenty of growth in generating capacity in the pipeline, short to medium term. One to tuck away imho.

Anybody following these?

just me it seems.

...which is a shame as up 10% today

Kernow. Well done mate and good posts. I nearly went in but opted for SHFT and GBO instead. I will continue to have these on my watch list and will drop in from time to time.
Riv

Massive power shortages in India - it's an ill wind....

Could be interesting on a break of 65p.

Any thoughts mitzy ?

I'd say a good chance Dil.

Breaking out , I'm in.