CESC - Next Rerating Candidate? ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.With the overhang of West Bengal elections now over, we expect the West Bengal Electricity Regulatory Commission to expedite the issuance of tariff order for CESC Ltd.’s Kolkata discom, which has been pending for the past three years (Ministry of Power’s recent directive on timely tariff determination and full cost reflectiveness of tariff will help).Although, on consolidated basis, the company’s earnings have improved on better performance by subsidiaries, profits from the Kolkata business have remained stagnant as regulated equity growth has not been approved.With the expected issue of tariff order, approval of capex incurred in the past three years and future capex, we expect the ambiguity in earnings and valuation to diminish and the company may be the next utility stock to rerate..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

CESC - Next Rerating Candidate? ICICI Securities

CESC - Next Rerating Candidate? ICICI Securities

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