>TATA POWER (INDIA INFOLINE)

■ Generation grows by 6.3% yoy to 3.8BU during Q4 FY10 against 3.6BU last year, average realizations jump 13.7% yoy

■ Revenues in Q4 FY10 for the (consolidated entity) coal and power divisions increased by 27.2% and 9.7% yoy respectively

■ Coal division’s EBIT margin doubles to 22% from 11% last year

■ Better operational efficiency and higher merchant sale translate into 93.7% yoy growth in adjusted PAT during the quarter

■ Reduce target price to Rs1,536 on account of marginally lower than expected FY10 earnings, maintain BUY

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