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Lanco Infratech gains on plan to invest Rs 24000 crore for capex over 3 years

14 Nov 2011 Evaluate

Lanco Infratech is currently trading at Rs. 15.30, up by 0.10 points or 0.66% from its previous closing of Rs. 15.20 on the BSE.

The scrip opened at Rs. 15.10 and has touched a high and low of Rs. 15.45 and Rs. 14.90 respectively. So far 291802 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 66.40 on 04-Jan-2011 and a 52 week low of Rs. 14.65 on 25-Oct-2011.

Last one week high and low of the scrip stood at Rs. 16.60 and Rs. 14.90 respectively. The current market cap of the company is Rs. 3659.86 crore.

The promoters holding in the company stood at 69.21% while Institutions and Non-Institutions held 15.45% and 15.34% respectively.

Lanco Infratech is likely to invest Rs 24,000 crore on capital expenditure with Rs 8,000 crore every fiscal till FY14, amid coal scarcity hitting the overall power sector. It plans to add about 5,000 MW generation capacity in three years, including current fiscal.

The entity is adopting a cautious approach against the backdrop of coal supply shortages, as well as the poor financial health of State Electricity Boards (SEBs).

The company has posted a net loss of Rs 259.48 crore for the three months ended September, 2011. It was hit by a notional forex loss of Rs 288 crore, as well as non-cash elimination related to transactions with subsidiaries and associates of about Rs 273 crore.

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