Financial Daily from THE HINDU group of publications
Sunday, Sep 07, 2003
Financial Daily from THE HINDU group of publications Sunday, Sep 07, 2003 |
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Investment World
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Fixed Deposits Columns - FD Watch TN Power Finance — Yielding power G. Madhan
An investment of up to one year can be considered, given the State government backing enjoyed by the company. Beyond that, an investment can be avoided as it restricts the flexibility to alter decisions at a later date. . Schemes and features: TNPF offers cumulative and non-cumulative fixed schemes. The latter is available only for two years and above (see table for interest rates), while the former is compounded at monthly intervals. The interest rates are likely to be revised downwards by 25-50 basis points, effective September 15. Further details can be got from the company's registered office at No 84, TTK Road, Alwarpet, Chennai - 600 018. Prospects and financials: TNPF is a non-banking finance company, wholly-owned by the Government of Tamil Nadu. It provides hire-purchase finance and other forms of financial assistance for those engaged in generation, transmission and distribution of power and infrastructure development. The company has shown stable growth in its topline and bottomline and has registered zero non-performing assets for the year ending March 2002. It has also paid dividends steadily in the past, without any budgetary support from the Government since 1997-98.
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