1. The market sentiments are not strong enough for small investors to rally along with the new major investors
2. The consortium who has invested will definitely have plans to turnaround this company in medium to long term
3. HPWR demanded more investment for new sources of power which HHL could not afford thus the decision for divestment
4. The sale of Heladhanavi for Rs.531Mn would have generated a loss as the carrying value of investment of the project as at 30/09/14 was Rs.683Mn. Thus a possible capital gain to payout a dividend is not possible.
5. Even if they make a capital gain, the new investors would prefer to re-invest rather than paying out as dividends.
6. A better EPS for the current quarter is expected as there will be an adjustment for increase in avoided-cost-tariff related to previous quarter. (I do not understand what it is but as stated in their last quarterly report)
So I would advice not to expect any dividends soon and not to expect a higher mandatory offer. You can not expect ST trading profits on this tock. But considering the profiles of the new investors (NDB Cap & ACL), you can expect a turn around in MT.