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% 42.50p 42.00p 43.00p 42.50p 42.50p 42.50p 47,146 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 128.4 28.6 5.3 8.0 149.39

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Date Time Title Posts
29/5/201414:39OPG 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 42.50p.
OPG Power Ventures has a 4 week average price of 41.50p and a 12 week average price of 39p.
The 1 year high share price is 71.75p while the 1 year low share price is currently 39p.
There are currently 351,504,795 shares in issue and the average daily traded volume is 393,338 shares. The market capitalisation of OPG Power Ventures is £149,389,537.88.
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."
twistednik: Look undervalued to me and india economic update later today should be positive! Sold out a little while ago though at a loss as just look at the chart - uninvestable imho. It's always jam tomorrow with the next project (now solar!)- I'd rather they just paid a 5% dividend to support the share price and invest any spare cash. Will wait to see some catalysts steer the share price in the right direction first before investing. A nice bounce today but one swallow does not make a summer for OPG. The long and short is there are far better homes for your cash at the moment. Good luck all !
jozo: Andycapp1,It's hard not to agree with you. It certainly explains while II's will not touch this share with a barge pole and hence the pitiful share price. A fair reflection. Those that were burnt after the last institutional fundraising at 93p will certainly never cough up again - though I'm sure they are probably long gone (no doubt at much higher price than today)I'm also not really interested in having a go at other bb users but Azalea, are you for real? Does one really need to be a long suffering, loss making investor in opg to earn the right to be a critic?Your continuous ramped up bilge spouted out about this company as it has clearly failed to live up to expectations is quite unbelievable. You saw fit to liquidate most of your holding after the last results - even you don't believe your own nonsense. And here you are again! One can only guess that you've taken another bite of the (rotten?) Apple!Personally I used to really believe in this company (having first invested just after they floated and had a lowest purchase price of 27p). With obvious justification I feel that opg have failed to live up to mine and many other people's expectations - that is not sour grapes but fact which is reflected in the woeful share price.Strangely enough I still follow the company with interest - as an investor I have been luckily to make some decent money trading this share over a long period. I am struggling to see how investor interest will return in the near term and this may provide a good trading entry point. Jozo
jozo: The markets likes to reward companies that have a clear path to growth - as well as needing to create a sense of under promising and over delivering.This company has a dismal record of managing expectations- a dividend might be a bit of a bonus for big family holders but not going to make one bit of difference to most investors.When there are companies such as phtm, cake etc with growing dividend policy combined with constantly upgrading spiral of earnings growth etc the likes of opg will not get a look in with the II'sI have been a (at times very hopeful) investor in opg for the last 8/9 years and have watched the whole 'jam tomorrow scenario' unfortunately fold. Have sold out twice due to serious jitters and concerns and very pleased to now be sitting on the sidelines since getting out just after last results.I could be tempted back in if share price gets to low 40's not because i believe in the company but there would some potential reward from that starting point.The company and its advisors need to understand what is needed and they need to come up with a sustainable plan Going forward that is able to offer clear visibility going forward and well a the ability to surprise on the positive side.Also company needs to be careful to take in to account all the uncertainties of economic/political/weather risks of operating in this part of the world as they offer forward guidance.There's always some bs excuse which after a while doesn't wash with investors.If opg sort all these things out the share price might well recover but not for now I'm afraid.Joe
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.
rivaldo: Big feature in today's Shares Mag - there's also a table of forecasts, with 6.6p EPS to March'16 jumping to 10.1p EPS and 11.1p EPS for the next two years: "OPG POWER VENTURES (OPG:AIM) 76.25P THIS COMPANY IS proof that there is money to be made from investing in India-based companies. OPG floated on AIM in 2008 with the intention of developing power plants in the country, capitalising on the ferocious demand for electricity. It has spent the past eight years expanding operations and we’re now at a point where the capital expenditure phase ends and the cash generation phase ramps up. OPG announced on 1 February that it had switched on a second unit at its Gujarat power plant, thereby taking group capacity to 750MW (megawatts). This means the group has now hit its output goal and can sit back and enjoy the cash from generating and selling electricity. OPG is expected to start paying dividends from mid-2017. Stockbroker Cantor Fitzgerald has a 134p price target, implying 75% upside from the current share price. ‘Cash generation has already stated and we are paying down bank loans,’ says Ajay Paliwal, strategy director at OPG. ‘The assets have a 40 year life but the bank loans have to be paid over 10 years. Lots of other Indian developers have struggled with their repayments but we have greater cash.’ It pays 12.5% interest on debt; this is compared with an Indian base rate of 6.75%. Paliwal believes hitting the 750MW capacity level gives the company enough credibility to refinance debt and potentially knock 100 basis points (1%) off the finance rate. The target is to operate at 85% to 95% of capacity. March to May is seasonally the busiest time of the year. ‘Lots of independent power producers have entered into a 25-year sales agreement with the state energy company. These tariffs can be very tough; why take the risk when we operate in a market short of power?’ says Paliwal. ‘We have formed an agreement with commercial customers for two-to-three year deals. The price they pay for energy is related to the industrial tariff they would pay the state energy board.’ Ongoing weakness in global coal prices is beneficial to OPG as it reduces the cost of its main raw material. The share price has been weak since last summer as investors worried about delays to the second part of the Gujurat plant, a risk which has now gone away so this is a perfect time to get on board. Paliwal says that a small shareholder also dumped their holding over Christmas during a time of thin trading in stocks, so the disposal triggered a large decline. ‘They were only small; we’ve not had a single large shareholder selling stock on the back of what the company has done (since listing). When one shareholder had to moderate their position, others picked up their shares.’ Given that India’s power demand far outstrips supply, why isn’t the market full of new entrants? Paliwal says it would take a significant amount of new supply to catch up with demand. ‘The grid has got to be made more robust on a national level. India’s transmission losses are twice that of the US.’ OPG’s expansion may concentrate on thermal and solar power. The company says it is very picky about new projects and claims to have a competitive advantage over most of its peers by ‘seeing around corners’ to spot potential problems such as transmission lines obscuring access or not being able to ‘evacuate̵7; the power."
eddie1980: You fail to see the analogy. OPG should be a growth stock - but there is no further growth, nothing. As soon as the plant is connected, that is it. Yes, it will take a further year for the numbers to flow through, but what I have said time and time again, is the market is forwards looking - how can they price this growth stock, when there is no growth? In absence of any growth, what is it? The company will still be earning 10p a share in 2017 (and in theory 2018, 19 etc). Not bad you may say. Worth more you may say. Why not a P/E of 10, 12, 14 even. My point with HSBC was that in the current market, you have one of the longstanding FTSE constituents also on a PE of 8, paying a 7% dividend each year. Yes, I acknowledge it is the extreme example from the FTSE, but it is there and available. So, from a purely earnings basis, you cannot rely on the earnings from the 750mw to drive the price higher short term. If the market was to hear that in 2 years they would be producing 2000Mw, earning 28p per share, with details of the financing to achieve it, that would drive the share. In answer to your question about what no share price growth in 8 years tells you - I think I have said many times - its not what they have done, its what can they do. They need to come up with that, both financially and strategically. To date, they have said nothing. that is poor. Do you see the problem now? You should be interested in what will move the share price, not the fact India is underpowered, or they will connect a wire next week. The fact they have said nothing? They didn't used to say nothing when trying to build the current capacity? So why now. Either they have no concrete options (bad) or they don't have the finance (also bad). Either way, bad for the share price. The company has said they won't raise new equity at this price. (as they don't want to dilute themselves). So, stalemate. I am intrigued to know how they will overcome this. No doubt there will be some dilution. Past history of smaller companies indicates this. But how its done or by how much, I don't know. Maybe they will choose to wait 3 years before they build anything, retain cash generated and do it that way. But again, in terms of share price, that will be negative, as there will be no growth for 4,5 years until new plants are in place. I really do give up. Use your brain and try to understand why your investment has done nothing in years despite their operational success. Then try to understand what make your investment work. Then try to understand what the risks are, and what obstacles there are to the company achieving success. Ps. The mighty questor tipped OPG in May 2014 at 94p, November 14 at 107p, and 99p in June 15. That's about as good as your recommendations over the last 20 months. Pps. Given you rely on tip sheets, have a read of what SCSW said this month - I have just read it, and they suggest exactly the same - the share price is held back due to lingering need for cash for expansion risking dilution through rights issue. The delays in getting the last 150mw on line at least giving growth to 2017........but then none!
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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