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Of Falling Solar Tariffs, Pressure on Cement Stocks and Top Stocks in Action Today
Tue, 21 Nov Pre-Open | Karan Janani, TM Team

Solar Power Tariff May Drop to a Record Low of Rs 1/ unit

As per an article in leading financial daily, solar power is on track to hit Rs 1/unit soon. With average tariffs for thermal plants hovering at Rs 3.2 per unit, solar tariffs are nearly 25% cheaper.

Are the solar developers being too aggressive? Are the projects even viable at these rates?

Solar modules account for around 60% of a solar project's total cost. And lately, the prices of these modules are increasing. But the developers are bidding for project assuming solar module prices will fall. However, that's not happening for now.

The record solar project quoted at Rs 2.44 per unit assumes that solar module prices would be around 23 cents per watt. However, the price is currently around 32 cents and 34 cents for August delivery, thus making the project unviable.

We are very skeptical about solar developers who are bidding for solar projects at these ultra-low rates.

However, the government's ambition to add 100 GW of solar power capacity till 2022 does provide a massive opportunity for the manufacturers who supply the materials to build a solar park. These companies are what Richa Agarwal, managing editor of Hidden Treasure, calls 'Backdoor Stocks'. These are stocks of companies that benefit indirectly from a big trend.

Spurt in the Prices of Egg by 25%

The price of an egg has surged by 25% in a span of one month. The spurt has mainly been on account of lower production of eggs. As per an article of a leading financial daily, the lower production is expected to continue for a few more months and the prices are expected to remain at the current levels till February or March. On account of this news, the stock of SKM Egg Products Exports (India) Ltd hit upper circuit of 20% in yesterday's trade.

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Top Stocks in Action Today

The stock of JHS Svendgaard Laboratories, CL Educate Ltd, India Motor Parts & Accessories Ltd, Lambodhara Textiles Ltd is expected to be in the news today as they declare their results for the quarter ended September 2017.

Cement stocks are expected to be under pressure today as Supreme Court sought a nationwide ban on use of pet coke and furnace oil.

Pet coke is a cheap but a widely-polluting fuel used by cement, paper, brick kiln, chemicals and textile industries - to cut industrial pollution that's contributing to hazy skies.

The Supreme Court has already forbidden the use of this fuel in the National Capital Region (NCR) as intense smog over Delhi earlier this month prompted a series of measures, including advancing of BS-VI fuel introduction in Delhi

Reportedly, if the companies resort to the international coal which is 15% more expensive than pet coke, as a replacement to the pet coke, they would require taking a price hike of Rs 10/bag in order to pass on the burden.

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