TATA POWER TO RAISE OVERSEAS LOAN OF $450 MILLION FOR IT'S CAPEX PUSH

One of India's largest power company,

is in talks with overseas banks to raise at least $450 million for regular business operations and capital expansions. The company is seeking a 5-year loan through overseas commercial borrowing that would be backed by shares it holds in it's subsidiaries in Indonesia and Singapore. The company's share price is currently trading at a fair value of P/E 31 and P/BV of 3.0, thereby making it a good investment in this growing sector. Moreover, the company has been maintaining a healthy dividend payout of 18.9% which is beneficial for regular income.