ICICI Securities: Thermal Power Sector In Dire Straits
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ICICI Securities Report
Given the global macro challenges in thermal power sector, GE group has taken a decision to exit the newly built coal power market.
This puts the operations of the domestic listed entity GE Power India Ltd. in jeopardy as it is dependent on the parent in terms of pre-qualifications for boilers and utility grade flue gas desulphurisation orders.
Currently, the Indian entity is in talks with the parent to resolve the situation amicably, which we believe, will come at a cost.
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