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Money Sep 26, 2012

Discom bailout to have limited impact on Power Finance, says Barclays

Reuters

Barclays Capital has cut India's Power Finance Corp to 'underweight' from 'neutral', saying the state-run lender for power projects would see only a limited impact from the government bailout of state-owned electricity distributors (discom).

Barclays Capital added that Power Finance has limited discom exposure, and cited concerns about the recent run-up in its share prices.

BarCap maintains its target disprice on Power Finance at Rs 155.

Shares of the power lender were down 2.9 percent at 10.40 a.m.

Reuters


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