CESC - Standalone stable, investing aggressively for growth - Kota

The Kolkata distribution business remained the mainstay of CESC's consolidated earnings, funding (1) growth in the power business and (2) new ventures such as the retail and BPO acquisition.

While we continue to like CESC's core distribution business in Kolkata, we are not as optimistic on (1) visibility on turnaround of the retail business and (2) conclusion of offtake agreements and fuel-supply arrangements for the Chandrapur project.

Source : Equity Bulls

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