Share Name Share Symbol Market Type Share ISIN Share Description
OPG Power Ventures LSE:OPG London Ordinary Share IM00B2R3RX72 ORD 0.0147P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 22.75p 22.50p 23.00p 22.80p 22.75p 22.75p 59,320 14:00:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 205.0 17.5 8.4 2.7 79.97

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Date Time Title Posts
29/5/201413:39OPG Power - India1,638

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OPG Daily Update: OPG Power Ventures is listed in the Electricity sector of the London Stock Exchange with ticker OPG. The last closing price for OPG was 22.75p.
OPG Power Ventures has a 4 week average price of 17.63p and a 12 week average price of 16.25p.
The 1 year high share price is 63p while the 1 year low share price is currently 16.25p.
There are currently 351,504,795 shares in issue and the average daily traded volume is 126,741 shares. The market capitalisation of OPG Power Ventures is £79,967,340.86.
walbrock82: The share price is low because of their high debts along with debtors and creditors mismatch. I view this share speculatively, but uniquely. What I mean is if OPG Power Venture manage to reduce debt by £30m to £40m each year. Then I can see the share price appreciate by 20% each year. The enterprise value remains the same for each year. The above case scenario is if OPG maintains their business size for three to four years. This would be a good recovery play, however, given the pessimistic view on Asian companies, I feel the bad rep. outweighs any opportunity. Therefore, I won’t be recommending this share a buy, until some in-depth research is done on the company. For full analysis of OPG Power Venture and other companies’ result analysis, click
jeffian: Update: OPG Power Ventures OPG has done everything that we had hoped over the past three years. The Indian electricity generator has increased coal-fired capacity, broadened its portfolio of long-term supply contracts, begun to add solar capability, consistently increased sales and paid a maiden dividend. The shares have plunged nevertheless, amid suggestions that India could marginalise coal to the benefit of solar and, more immediately, a spike in coal prices that will take a heavy toll on profits in the year to March 2018. Futures markets suggest that coal prices are set to decline. Talk of tariff rises for OPG in 2019 could lead to a welcome bonus and make the stock look cheap on earnings, as well as assets – OPG currently trades at less than 0.5 times its book value. However, it has net debt of £308m (plus lease commitments of £200m). Some £36m is due to be repaid this year and the interest bill is expected to be around £38m, with lease obligations on top. Cash is just £31m, although OPG has two investments to sell. Interest cover was thin last year and will be skinnier still this year, given analysts’ consensus view that pre-tax profits will fall from £17m to just £4m. The safest option unfortunately is to pull the plug on OPG. If coal prices start to drop we will take another look. Questor says: sell Ticker: OPG Share price at close: 30.62p
twistednik: Last broker forecasts I saw were for an EPS of 3.5p for FY18... on that basis a PE of 8.5x (against the current share price) probably sounds fair value. The upside comes in FY19 when you hope that coal prices stabilise and EPS rebounds to 7p+ which equates to a share price north of 60p. Trouble is the business is operationally geared with £33.5m interest costs each year so you can see when operating profit is expected to reduce by a third next year, Adjusted PBT is expected to fall by 70%+. This works both way though when coal prices recover! Basically this feels like a leveraged punt on coal prices ! (and I don't have a clue what these will be longer term). That said, looking at the strong volume and chart uptick, tempted to pick up a few as a short term trading play as feel they could bounce back to 40p if the large sellers have exited their positions.
jozo: Azelea - you've got to be having a laugh. Andycapp makes a huge amount of sense and is only reflecting market sentiment. The woeful share price also reflects this. He's every right to be peed of with opg management - they have destroyed shareholder value for huge number of investors. I don't know what planet you live on but it aint the real world of investing unless you call it blindly falling in love with a share and its management and being very happy that they've lost you shed loads of money.Things might not be alright for this company in the future - there's real uncertainty hence the share price. You seem to have not factored in at all what will happen to this company if they fail to navigate the next year or so. There is a chance that their debt could bring them down. The market is reflecting this and only a clear and believable strategy will persuade the market otherwise.You really need to wake up to this.And before you accuse me of ulterior motives - I'm long and currently out of pocket and peed of with myself for thinking I could catch the bottom. The management have ruined that and I'm now probably going to have to wait some time before I get my money back - possibly never if they get it wrong!
andycapp1: Look neither you nor I can affect the share price. I am long but I am being realistic about the Company and its newsflow. My opinions will not impact the share price one jot but as you are being utterly unrealistic about the short term share price, absent news one way or another, I thought I'd better impart some reality to the debate.
rivaldo: Summary of Cantor's note on Proactive as follows FYI... "Solar concerns overplayed at OPG Power Ventures suggests broker 12:46 29 Jun 2017 The broker has left its estimates unchanged as it expects coal prices, the main cost for OPG, to remain flat in dollar terms. Concerns over the drive in India towards solar power are being overplayed in the share price of coal-fired power station operator OPG Power Ventures PLC (LON:OPG). That’s the view of house broker Cantor Fitzgerald, which says concerns that India might follow the UK and Germany and push fossil fuel to the margins are overdone and the impact on OPG’s business will be minimal. Recent solar deals in India have suggested a deteriorating price environment in the country, but Cantor says the average solar tariff level is rupees (R)4.18/kWh though three new projects at R3.3/kWh. The broker has assumed prices of R4.4kWh for OPG, but it sells directly to industrial customers that pay a premium and that makes it very competitive compared to solar power even at those lower prices suggests the broker. Cantor concedes that there will be a significant amount of new solar capacity added, but demand in India is increasing in step and solar will only account for 6% of the market by 2022. As such, the broker has left its estimates unchanged as it also expects coal prices, the main cost for OPG, to remain flat in dollar terms. OPG’s share price has almost halved over the past 12 months, despite a maiden dividend. There has been one persistent seller says the broker but there is now 166% upside to its target price of 124p and the rating is buy."
rivaldo: Here's the IC's tip FYI as it hasn't been posted yet: "OPG Power Ventures (OPG) develops and operates coal-fired power plants in India and is moving into solar energy. As such, prospects are supported by strong tailwinds from the country's growing economy. In addition to this, OPG's foray into solar generation means it is also likely to benefit from the Indian government's commitment to increase its use of renewables and reduce its carbon intensity - the amount of carbon emitted per unit of energy consumed. However, the group has come up against a number of challenges recently, which has sent the share price down, despite the likelihood that the issues will prove temporary. In the group's January trading update it outlined a triumvirate of negative events. The first was the de-monetisation of India's high-denomination currency, which had a short-term effect on consumer spending and demand for energy. The second was the death of Ms Jayalalithaa Jayaram, chief minister of Tamil Nadu, where the group's Chennai plants are based. This led to depressed commercial activity for roughly a week. Finally, the state was hit by a cyclone. This caused only minor damage to OPG's plant, but regional transmission infrastructure was severely affected, which again had an effect on commercial activity. According to the group's most recent trading update, the Chennai plant's load factor - the ratio of energy output compared to the maximum possible output of a plant - was pushed down to 76 per cent for the year to March 2017, compared with expectations of 80 per cent. Overall, though, there are encouraging signs emerging. The group's Gujarat plant, which is younger than Chennai, increased its average plant load factor to 63 per cent for the year, from 52 per cent in 2016. The company has also made important progress in addressing payment delays by the state electricity companies and expects to get most of the money due in 2018. This has involved an amendment of the share capital rights in the Gujarat subsidiary. At the end of September, about £20m had been collected from OPG customers by the state utility and still needed to be paid over. Meanwhile, even accounting for the lower-than-expected productivity, total generation for the Chennai plant was 12 per cent higher than in 2016. The group is also pursuing two solar projects, one 62MW development in Karnataka, of which 40MW has secured debt financing, with sanction for the remaining 22MW expected in the next few weeks. The group has also secured a letter of intent for a 25-year power purchase agreement for a 124MW project in Jharkand. Once these are completed, solar will account for 21 per cent of the group's generation capacity. OPG POWER VENTURES (OPG) ORD PRICE: 43p MARKET VALUE: £149m TOUCH: 42-43p 12-MONTH HIGH: 74p LOW: 40p FORWARD DIVIDEND YIELD: 2.3% FORWARD PE RATIO: 6 NET ASSET VALUE: 60p NET DEBT: 128% IC VIEW: The group has made good progress against its goals despite a wide range of one-off challenges. Importantly, this progress helps underpin Shore Capital's forecast of net asset value (NAV) per share of 68.6p by the end of the current financial year. The share price sits at a near-40 per cent discount to this forecast, and the shares also trade at a mere six times forecast earnings. While we acknowledge OPG has had difficulties recently, we think this is more than made up for by the value now on offer. Buy."
grabster: The OPG share price is no higher than it was two years ago. All gains in between then and now have been wiped out. In fact it is now where it was seven years ago. Every rise along the way has collapsed. Those who bought after igoe started this thread will have done very nicely if they sold at over 100p.
source: Thanks MT. I know broker forecasts need some seasoning sometimes but OPG has 9 different forecasts (many reiterated only in the last few days too). ALL these are now forecasting an OPG share price of between 120p and 150p. -- Given OPG's recent confirmations on the company progress that:-(1) Its business has not been meaningfully impacted by the major floods in Chennai;(2) Its plants remain undamaged;(3) Rumours of cash calls are completely unfounded;(4) It has picked up new business in Chennai;(5) G2 is still on target as are its plans to get to 750MW (hopefully sooner than later - per my previous comments!)(6) Has existing opportunities and land for short/mid term expansion & is exploring numerous longer term opportunities for major further expansions. (7) Its markets seem to remain very buoyant and growing - supported strongly politically, socially and economically;(8) OPG's new freight ships will increase its cost advantages. Etc etcWhile there are obviously risks involved it is still very hard to not conclude the current low prices that the risk/reward seems more favourable than any time in the last 2 to 3 years. I'm of the opinion that the current pricing is an anomaly. Hopefully one that shouldn't/won't last long as the price discrepancy starts sinking in wider and some bigger buyers start to avail to the opportunity at these low share prices. It may now take till after Christmas but the above facts will not be going away :)IMVHO DYOR Regards,Source.
azalea: Whilst we are waiting for news from OPG, here is a question on GKO versus OPG share price. Given the following data presented by Morningstar Premium Service, would anyone like to justify their current difference in share price. GKO 150.657560m shares Brokers' consensus Eps forecast FY2015 10.27p FY2016 15.21p. OPG 351.5m shares Brokers' consensus Eps forecast FY2015 6.06p FY2016 13.86p
OPG share price data is direct from the London Stock Exchange
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