ICICIdirect believes that generation increased 13.2% YoY in October 2014 driven by the Diwali festival during the month. ''Robust growth across coal and gas segments was partially offset by lower YoY generation across hydro and nuclear segments. Plant load factors (PLFs) declined across all segments barring coal plants. Both base and peak deficits increased MoM due to a rise in demand. Merchant rate remained flat in October 2014,'' it said.
''While the sector continues to face constraints in terms of fuel availability and pricing, environment clearances and SEB's financials, the recent initiatives taken by the government like Coal Ordinance 2014, fixing of gas price, fast tracking of project clearances, etc. may unblock the policy logjam for the sector. Top picks in our coverage universe are NTPC and Power Grid,'' the broking firm added.
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