OPG's production performance is strong: higher utilization rate at Gujarat and Chennai. Additional long-term perspectives comes from solar plant commissioning in Karnataka in 2019. However, I do not believe in significant perspectives for company's growth due to high and uncertain coal prices
I believe the shares represent compelling value as JLIF's portfolio shows strong performance, the star assets were: (1) InterCity Express (higher cash flows), (2) A55 road (lifecycle cost savings and a strong performance).
HICL is rather attractive investment. Its long-term IRR target 7-8% and I believe that this target is likely to be achieved as its NAV growth is in line with expectation and its portfolio has good cash flow generation.