Barak Valley Cements completes thermal power project

Barak Valley Cements Ltd has informed that the project of establishing 6 MW Biomass based thermal Power Plant in the name of Badarpur Energy Pvt Ltd (wholly owned subsidiary of Barak Valley Cements Ltd) is completed and now this plant is ready to start its commercial production.

The management of the Company has decided to commission the commercial production in this plant in the month January 2008.

In this regards the Company has issued following Press Release:

"Renewable Energy (RE) development has become one of the major components of Power Policy for the country. Ministries of Power (MOP) and Non-Conventional Energy Sources (MNES) have taken a number of new initiatives for encouraging Renewable Energy Development. Biomass power is one of the most important elements in the overall Renewable Energy Plan.

Considering the above, M/s. Badarpur Energy Pvt Ltd, a wholly owned subsidiary of M/s Barak Valley Cements Ltd., was formed to establish a 6 MW bio-mass based multi-fuel Thermal Power Plant at Devendra Nagar, Badarpurghat, Assam.

Barak Valley Cements Ltd, (an ISO 9001: 2000 certified cement manufacturer in the north-east region) was listed on November 23, 2007 in BSE and NSE. The Company had received overwhelming response from the investors for their initial Public Otter.

The major objectives of the issue was to develop its wholly owned subsidiary Badarpur Energy (P) Ltd., for setting up 6 MW biomass based power project and to part finance expansion of clinkerisation capacity of its cement plant.

BVCL continues to work towards fulfilling the commitments made to the Investors and is all set to complete its’ expansion of projects well within time and is happy to announce the commissioning of Biomass plant of Badarpur Energy Pvt Ltd with effect from January 2008.

The 6 MW biomass power generating unit will be using husk, major by-product of rice industry as a fuel for generating power. The average cost of power is estimated to be about Rs 2.20 per unit. The power generated by this plant will meet the entire energy requirement of the Cement production facility and contribute towards conservation of fossil-fuels. This multi-fuel, environment-friendly power plant will be the first of its kind in the North-East and a trend-setter so to speak.

The entire expansion plan of the Company under execution is also likely to be completed as per schedule. The cement capacity expansion to 1050 TPD was scheduled to complete by end of April 2008 is now expected to be completed by February, 2008."

Weekly Grey Market Premium Update

Reliance Power commands a premium of 65

Mundra Port & Sez has a grey market premium of 540 on a issue price of 440

Empee Distilleries grey market premium of Rs 40

Edelweiss Capital has a grey market premium to double its issue price of 725 to 825. It has a premium of 825 to 850

Varun Ind. at a issue price of 60 has premium of 50 to 55

Religare Enterprises at issue price of 185 has grey market premium of 340 to 350

Barak Valley Cement has a good premium of Rs 25 on a issue price of Rs 42

Renaissance Jewellery commands a modest premium of Rs 40

Kolte Patil will double on listing according to grey market sources - it has a premium of Rs 135

Kaushalya Infra has a modest premium of Rs 9

Jyothi Laboratories issue price is 620 to 690 and premium is 400 to 415

Weekly Grey Market Premium Update

Premium is the price above the IPO Price

Reliance Power is trading at Rs 52 premium

Mundra Port and SEZ is trading at more than double its offer price at Rs 460 premium

Empee Distilleries at around Rs 150

Edelweiss is roaring high after Religare's success at a premium of Rs 700

Religare is trading at a whopping Rs 350 premium

Barak Valley Cement is at Rs 22

Allied Computers is a dark horse at Rs 16 premium

Religare, Mundra, Varun Grey Market Updates

The Grey Market is hotting up even with the SEBI P-Notes Clampdown

Here are some of the rates that we are hearing

Mundra Port and SEZ - 390

Reliance Power - 51

Religare is commanding a whopping 290 premium on a issue price of 185

Barak Valley Cement 20

Empee Distilleries 155

Edelweiss - another broking outfit with a issue price of 825 is quoting at 200 rupees premium

Others are SVPCL - 3, Rathi Bars - 4, Circuit Systems - 6, Allied Computers - 17