The recent spurt in prices and volumes in the spot electricity market has led to accelerated gains in the shares of PTC India Ltd. The stock has gained handsomely since the beginning of July.
The company provides power trading solutions. Last fiscal year (FY17), more than half of its volumes came from short-term trades having a procurement duration of less than one day to a maximum of one year. So, firm merchant power markets should benefit PTC India. “Management stated that there has been a 64% increase in volume traded, while PTC India commands ~38% market share in the energy traded platform,” Sharekhan Ltd said in a note after interacting with the company’s management.
According to the broking firm, PTC India’s management expects merchant tariffs to stay elevated for a short period before cooling off to Rs3-4 per unit.
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