News Column

Macquarie EM Buys Into PTC India

June 15, 2014

Macquarie Emerging Markets Asian Trading PTE Limited has picked up 0.5% stake in power trading solutions provider @PTC_India_L Limited for INR 158.59 Mn from the open market. The fund acquired 15.76 Lac shares at a unit price of INR 100.5.

Other major shareholders at the end of March 2014 include Life Insurance Corporation of India (9.45%), HDFC Standard Life (6.66%), Reliance Capital (4.46%) ,IDFC Premier Equity (4.05%)among others.

PTC India Limited. (formerly known as Power Trading Corporation of India Limited), was incorporated in 1999 to undertake trading of power. The trading activities undertaken by PTC include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches.

The stock has been outperforming the market over the past year only to record its fall by 2.02% to INR 99.6. With the current shares trading around INR 99.7, the company has a market cap of INR 295 Bn.

PTC India's net profit jumped 86.1% to INR 691.5 Mn on 30% growth in total income to INR 28,607.1 Mn in Q4 March 2014 over Q4 March 2013.

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Source: DealCurry (India)

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