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

Move north today :-)

Great numbers and not far away from 3 digits now. Continues to perform and meet targets.

Excellent results published yesterday - followed by a BUY tip from Questor in the Daily Telegraph suggesting a possible doubling of the share price.


Capacity projection

Cant agree more.

Bought years back expecting a doubling, but think it will happen from here.

Nice to see the first trades at 100p for a few years! Onwards and upwards.

The Indian election outcome seems like the better result for stocks imo. See we had 3 buy recs yesterday:

Investec tp 140p
Jefferies tp 120p
Shore Capital buy, no tp that I see.

Buy rec article in Friday's Investors Chronicle.

Good update today, all on track and not so long before larger Gujarat (300MW) comes onstream - then the earning should really start flowing. Plenty of scope to double in my opinion.

Another strong trading update. Set to go higher. I particularly like the 300MW Gujarat is complete and trials starting in the next quarter. This should add significantly to future profit.

Yep. Lookin good. One of my biiggest holdings. Everything falling nicely into place politically too.

With interim results due a fortnight from today, a reminder of what the company told us in August, including specific references to the quarter we are in and to November in particular:


"...300MW Gujarat - both 150MW units - equipment assembly complete, testing ongoing, commissioning trials can commence in the next quarter - transmission lines in progress
The construction of Gujarat's Unit A (150 MW) and Unit B (150 MW) has been completed and with equipment testing now ongoing, commissioning trials for Unit A are expected to commence in November 2014 and Unit B to follow thereafter by December 2014.

Gujarat Energy Transmission Corporation Limited ("GETCO") is constructing a new multi circuit transmission line to facilitate evacuation of power from both units and have now informed us that the line is expected to be completed by March 2015. We are assisting them with certain construction activities on the line. In the meantime GETCO have told us they are making available to us an alternative double circuit transmission line, the construction of which is already nearing completion. Accordingly, with our plant now ready to move into commissioning trials as scheduled, we are intending to perform a phased commencement of commercial operations from November 2014 as GETCO progressively make the required transmission infrastructure available to us.

180MW Chennai IV - hydraulic testing completed and early phase of equipment trials started
Hydraulic testing of this new unit was successfully completed in June 2014 and assembly of the turbine and generator is underway. OPG has now moved into the first phase of equipment trials and commissioning trials are expected to commence by November 2014. Chennai IV shares significant infrastructure with the other units at the same location and power sales are expected to be similarly mixed between the state and industrial and commercial customers on flexible or short term arrangements.

Outlook
Following the election of a new Government, the Indian macro environment appears to have accelerated towards a recovery phase. In its first few weeks, the new Government seems to have put the importance of the power sector beyond doubt in terms of it being a basic need for all citizens but also for its importance in re-establishing economic growth. Early signs of some positive momentum to make the sector more attractive for investment have come through in the recent Budget. Accordingly, the long term commercial dynamics of the sector remain attractive.

As can be observed from our activities during the quarter, OPG has remained focused on maximising its existing operations and upon delivering on the current project portfolio of 480MW to nearly treble the size of the Group's operating platform. These activities, as well as planning for the next growth phase, continue apace and current trading continues to be in line with expectations..."

Sharescope indicates the AGM is on Monday.

The 2015 calendar on the OPG website indicates that a trading update will be issued in February. After today there are only 4 days left.

Summat happening on Saturday:



Guj CM inaugurates OPG Power Ltd’s thermal power plant, Mundra, Kutch
Date : 2015-02-24
Date(s): - 28/02/2015
Time: 3:30 pm - 5:00 pm


Saturday event

Maybe worth showing this again. The dark grey block is the one being featured on Saturday:

Thanks for the heads up. Have been holding for a while.

Here we go:

Article link

Ahmedabad: OPGS Power Gujarat Pvt. Ltd, a subsidiary of UK-based OPG Power Ventures Plc, will commission its 300 MW coal-fired power plant on Saturday at Bhadreswar in Kutch district of Gujarat, managing director and chief executive officer Arvind Gupta said in a press conference on Thursday. Work on the project, located in a special economic zone developed by the Adani group in Mundra, started three years ago and around 300 acre land was acquired from private owners in Kutch.


PS: Somebody bought 50,000 shares at 4:45pm today.
Article timed 5:15pm UK time (presumably press conference finished before that)

Press images from yesterday's event -

So Gujarat is now up and running and the share price has barely reacted. Looks dirt cheap to me as revenue could double next year.