Share Name Share Symbol Market Type Share ISIN Share Description
Opg Power Ventures Plc LSE:OPG London Ordinary Share IM00B2R3RX72 ORD 0.0147P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 15.00 46,843 08:00:20
Bid Price Offer Price High Price Low Price Open Price
14.50 15.50 15.00 14.925 15.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 140.63 16.86 3.81 3.9 58
Last Trade Time Trade Type Trade Size Trade Price Currency
11:55:15 O 7,864 14.68 GBX

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Date Time Title Posts
29/5/201414:39OPG Power - India1,638

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Opg Power Ventures Daily Update: Opg Power Ventures Plc is listed in the Electricity sector of the London Stock Exchange with ticker OPG. The last closing price for Opg Power Ventures was 15p.
Opg Power Ventures Plc has a 4 week average price of 14.45p and a 12 week average price of 14p.
The 1 year high share price is 28.25p while the 1 year low share price is currently 10.90p.
There are currently 387,910,200 shares in issue and the average daily traded volume is 226,938 shares. The market capitalisation of Opg Power Ventures Plc is £58,186,530.
jinvest1: Shame about today's price reaction but overall I think it is in a good place and well worth holding. Now it has returned to profitability, trading at just over 2X EBITDA and somehow just over 0.5 on it's tangible assets. That's just crazy whatever way you look at it and the share price should reflect that in time - even if it isn't a particularly exciting stock.
john09: Typical OPG share price action. It’s a casino stock always has been
beangrinder: Dimitri confirmed July date for results in his Mid June Shares sponsored presentation. He continues to refer to comparable operators being valued at 8-9 times EBITDA which reads across to a huge discount in OPG share price. On a similar basis we should be running between 60p and 100p (by my estimate when debt free). I’ve watched his presentations and Q&As this year and am of the view that if a re-rating starts it should be strong. My main gripe is the easy money the directors will all make in the LTIP, which triggers at 30p. Money for nothing imho. I think (from memory) they get 5% of company for doing nothing more than pointing out how undervalued the shares are! I won’t complain though if we move up to 60p+...I’ll just sell up and move on!
lizardman_: I believe the original plan was to pay out 30% of profit iirc. The full year results should give the share price a boost when released, but next year should really consolidate things imo. On the plus side, much of this was telegraphed by OPG, in that there would be a year of realignment, and as forecasted coal prices came down, the company would return to profit. These have all been borne out in time. Despite Gujurat being a weight around their neck for the last few years, I do wonder if it is now profitable, or at least self sustainable, since coal prices have dropped and the cross-subsidy situation resolved. I'd love to see the Gujurat P&L/ Cash flow in the final results, although I think it's unlikely.
winnings1: This share does not deserve a high PE-ratio, but does deserve a respectable PE-ratio, which in my view should be a forward Ratio of between six and ten. I understand that housebroker Cenkos is forecasting EPS of 3.8p for the current financial year, which fully justifies a share price of not less than six times 3.8p = 22.8p. Looking at the next financial year, with EPS forecast at 6p (Cenkos), then the share price should rise over the next six months or so, to not less than six times 6p = 36p. If the outlook remains robust long term, then the PE-ratio should move above 6 to nearer 10. Somehow I sense substantial further rises in the share price.... IMHO.
turbocharge: Just wondering, given the choppy market conditions, the OPG share price being (hopefully) near the bottom, and the recent purchases by the FC, that we might actually be in a better position that holding UK shares? Just speculating, I could be wrong, I'm no pundit. But the fleeting thought of buying some more did cross my mind...
turbocharge: I get the feeling our man in the darkened room has, in reality, a soft spot for our resident optimist and purveyor of flowers. Mind you, these exchanges do help to break the monotony of waiting for some sort of upward action of the OPG share price...
turbocharge: After about a week of downward trend in coal price, it's been on an up-trend since 21 June. Need to have a sustained drop in coal price over a long period to help OPG share price.
jozo: oldboffy, Thanks for your thoughts - I hope you're right and it turns out that I am indeed exaggerating!! Strangely enough I too am hoping to make some significant money in opg for a second time and have been a buyer at prices ranging form 33p down to 17.6p - average price 22.5p However a couple of bad experiences over the last 20 years with highly indebted companies have made me especially cautious. On the other side of the coin I have made significant sums from companies that have pulled themselves out of these situations. I am, in spite of my posts, hoping for the latter with opg. I suspect I am more than guilty to reacting to some of the blind one-sided 'this company can do no wrong' comments often seen on this bb. Current cash flow may well be just enough to cover existing covenants and obligations but the rise in coal (up until 2 weeks ago) was exceedingly alarming and if sustained would undoubtedly have stretched opg's ability to stay cash flow positive particularly in the short term and would undoubtedly have put a serious strain on debt obligations. Fortunately it appears there are signs (for a number of possible reasons as discussed by myself and yourself) that coal prices are at last reducing - this really needs to continue. I also take your comments regarding group captive status being significant but from my understanding previous years (2016 and 2017) as well as going forward for 2019 have yet to be confirmed. There is a degree of uncertainty here - the market clearly does not like this and is understandably cautious. Also comments in recent results regarding withholding interest payments on long term debt, while I recognise as part of a process, are far form reassuring. The resolution of both these issues will impact significantly on market sentiment. I have copied and pasted the relevant sections below: - ''OPG Gujarat has recently received approval from the relevant Gujarat authorities confirming its Group Captive status for FY18. This is significant progress in resolving the matter of late payments and the Company anticipates that the amounts delayed for FY18 (approximately GBP5.3 million as at 30 September 2017) will be recovered principally in the current financial year. Constructive dialogue continues on receiving confirmation on Group Captive status for FY16 and FY17 and, consistent with the view held at the Group's FY17 results, management continues to expect the recovery of the monies, approximately GBP26.1 million as of 31 March 2017, withheld by theDISCOMs''............................................. ............................. ''The Group has been in regular dialogue with its lenders at the Gujarat plant with regards to the long term loans at its SPV, OPGS Gujarat ("OPGG"). Due to the previously disclosed delayed recovery of the amounts withheld by the DISCOMS at the Gujarat plant, the Company has withheld GBP3.9 million of quarterly interest payments due in respect of the period ended 30 September 2017 on OPGG's long term debt. This non-payment of interest enables OPGG to enter the Corrective Action Plan ("CAP") process set out by the Reserve Bank of India ("RBI") circular)(1) . The CAP process is well established and is designed to assist borrowers in the rescheduling and/or restructuring of its long term loans. In light of the recent reaffirmation of OPGG's Group Captive status the Board anticipates that the outcome of the CAP process should enable OPGG to better match the cash flows from the Gujarat plant with its debt obligations and to facilitate OPGG's self-sufficiency. [1] RBI's MASTER CIRCULAR - PRUDENTIAL NORMS ON INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING PERTAINING TO ADVANCES (RBI/2015-16/101 DBR.No.BP.BC.2/21.04.048/2015-16, July 1, 2015 ('' I have been in and out of investing in opg since its very early days when it had less than 20 mw of output - I have seen the share price fall as low as 11p and rise beyond 110p. Operationally OPG have managed to achieve what they set out to do. One thing, however, that has always struck me is that opg management have always managed news flow really badly and have almost without exception over promised and under delivered. Yes a lot of these issues are not necessarily of their own making - eg high coal costs, but trust in management is at an all time low. The projected business model and raison d'etre of the initial public listing are all but abandoned. The 'jam' tomorrow anticipated by many investors has not materialised. OPG is not loved at all, but as the saying goes 'the darkest hour comes before the dawn'. With the right headwinds opg has the potential to reward investors at these levels. There is also some indication in the markets that investors are starting to seek out value. Opg is far from being a lost cause, and 'value' will always 'out'. While significant risks still exist (IMHO), I sincerely hope for all on this bb that opg has bottomed and we are all able to enjoy the rewards of a sustained recovery. jozo
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.
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