Trading Tips - koolfriend4u
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GMR NEWS - koolfriend4u
It is very rare in India to hear that any major infrastructure project has been completed ahead of schedule. Infact it is rare to hear of project staking off from the planning stage, forget getting it implemented and that too ahead of time! The project we are talking about is the Hyderabad airport project.
Known as the Rajiv Gandhi International Airport, it was built by Hyderabad International Airport Limited (HIAL) - a public-private joint venture between GMR Group, Malaysia Airports Holdings Berhad, state government of Andhra Pradesh and Airports Authority of India (AAI).
This implementation of the Hyderabad airport is a feather in the cap for GMR as completing a mega project like this, ahead of schedule, gives a major shot to the image of the company. With it already vying to bid for the airport project in east Europe, Prague, this track record, plus the fact that it has already won a project for the airport project in Turkey, the Hyderabad airport will naturally be GMR’s project, which it will showcase.
The company had also bid for the Amritsar airport and now , along with the likes of Gammon Infrastructure Projects, L&T-DPL-Unique consortium, Unitech Ltd, DS Constructions, Ansal Properties, Essar-Celebi-Vipul, ABL-Shristi-Galfar-SREI, GVK-Leighton-ETA consortium and TRIL-Changi-Tata Power consortium, GMR Infra has also bid for developing an airport in Udaipur. The company is now also bidding for redeveloping and modernizing some of the railway stations in India and one hopes that given the track record of the company, it surely stands a fair chance.
It is very rare in India to hear that any major infrastructure project has been completed ahead of schedule. Infact it is rare to hear of project staking off from the planning stage, forget getting it implemented and that too ahead of time! The project we are talking about is the Hyderabad airport project.
Known as the Rajiv Gandhi International Airport, it was built by Hyderabad International Airport Limited (HIAL) - a public-private joint venture between GMR Group, Malaysia Airports Holdings Berhad, state government of Andhra Pradesh and Airports Authority of India (AAI).
This implementation of the Hyderabad airport is a feather in the cap for GMR as completing a mega project like this, ahead of schedule, gives a major shot to the image of the company. With it already vying to bid for the airport project in east Europe, Prague, this track record, plus the fact that it has already won a project for the airport project in Turkey, the Hyderabad airport will naturally be GMR’s project, which it will showcase.
The company had also bid for the Amritsar airport and now , along with the likes of Gammon Infrastructure Projects, L&T-DPL-Unique consortium, Unitech Ltd, DS Constructions, Ansal Properties, Essar-Celebi-Vipul, ABL-Shristi-Galfar-SREI, GVK-Leighton-ETA consortium and TRIL-Changi-Tata Power consortium, GMR Infra has also bid for developing an airport in Udaipur. The company is now also bidding for redeveloping and modernizing some of the railway stations in India and one hopes that given the track record of the company, it surely stands a fair chance.
Good news ahead - koolfriend4u
Merger is Sure
HDFC Bank, India's third-biggest lender by market capitalisation, agreed on Saturday to buy Centurion Bank of Punjab in an all-share deal in the nation's biggest financial sector buyout.
The boards of the two banks will meet on Feb 25 to consider the share swap ratio and again on Feb 28 to finalise the details of the merger, a joint statement from the lenders said. The two first announced plans for the merger late on Friday.
"The two Boards have resolved to pursue the merger subject to satisfactory due diligence, a fair share-swap ratio and all the requisite statutory, regulatory and corporate approvals," the statement said. It did not give a value for the deal.
According to Times News Network the deal may value Centurion's shares at 57 rupees each, or roughly the price at which they closed on Thursday after jumping 14 percent on the day as speculation of a deal intensified.
Ernst & Young and Dalal & Shah have been appointed to determine the share swap ratio, HDFC Bank said in a statement to the stock exchange. The merger will create a bank with 1,148 branches, surpassing second largest lender ICICI Bank's 955 branches.
Centurion had 394 branches and HDFC Bank 754 branches as on Dec. 31 2007, the statement said. However, the merged entity's total advances of about 870 billion rupees ($21.7 billion) are far lower than ICICI's 2.2 trillion rupees. The merger will allow HDFC Bank to extend its reach in the country before a central bank review next year that may allow foreign banks such as Citigroup and Standard Chartered to buy Indian lenders.
Indian banks, led by State Bank of India and ICICI, the top two by market value, are raising funds to expand ahead of the review and to meet the demands from an economy that has grown at an average of 8.6 percent over the last four years.
State Bank is raising $4.2 billion in a rights share issue, HDFC Bank plans to sell bonds worth up to $1 billion and ICICI sold $5 billion of shares in June, eyeing rapid growth in the fragmented Indian banking sector. HDFC Bank and Centurion, which got banking licenses in the mid-1990s, are among the few to have acquired local rivals. HDFC Bank bought Times Bank from media publisher Bennett Coleman & Co in 2000.
While Centurion, which was rescued by buyout firm Sabre Capital in 2003 after major losses, has bought Bank of Punjab and Lord Krishna Bank. Bank Muscat owns 14.02 percent and Sabre Capital 3.74 percent of Centurion as on Dec. 31, stock exchange data showed.
Centurion Bank shares, which ended one percent down on Friday valuing the bank at 105 billion rupees, have risen 13 percent since Feb. 20. HDFC Bank shares have lost 4 percent in the same period.
- Courtesy ET
CBOP can see more upside
Merger is Sure
HDFC Bank, India's third-biggest lender by market capitalisation, agreed on Saturday to buy Centurion Bank of Punjab in an all-share deal in the nation's biggest financial sector buyout.
The boards of the two banks will meet on Feb 25 to consider the share swap ratio and again on Feb 28 to finalise the details of the merger, a joint statement from the lenders said. The two first announced plans for the merger late on Friday.
"The two Boards have resolved to pursue the merger subject to satisfactory due diligence, a fair share-swap ratio and all the requisite statutory, regulatory and corporate approvals," the statement said. It did not give a value for the deal.
According to Times News Network the deal may value Centurion's shares at 57 rupees each, or roughly the price at which they closed on Thursday after jumping 14 percent on the day as speculation of a deal intensified.
Ernst & Young and Dalal & Shah have been appointed to determine the share swap ratio, HDFC Bank said in a statement to the stock exchange. The merger will create a bank with 1,148 branches, surpassing second largest lender ICICI Bank's 955 branches.
Centurion had 394 branches and HDFC Bank 754 branches as on Dec. 31 2007, the statement said. However, the merged entity's total advances of about 870 billion rupees ($21.7 billion) are far lower than ICICI's 2.2 trillion rupees. The merger will allow HDFC Bank to extend its reach in the country before a central bank review next year that may allow foreign banks such as Citigroup and Standard Chartered to buy Indian lenders.
Indian banks, led by State Bank of India and ICICI, the top two by market value, are raising funds to expand ahead of the review and to meet the demands from an economy that has grown at an average of 8.6 percent over the last four years.
State Bank is raising $4.2 billion in a rights share issue, HDFC Bank plans to sell bonds worth up to $1 billion and ICICI sold $5 billion of shares in June, eyeing rapid growth in the fragmented Indian banking sector. HDFC Bank and Centurion, which got banking licenses in the mid-1990s, are among the few to have acquired local rivals. HDFC Bank bought Times Bank from media publisher Bennett Coleman & Co in 2000.
While Centurion, which was rescued by buyout firm Sabre Capital in 2003 after major losses, has bought Bank of Punjab and Lord Krishna Bank. Bank Muscat owns 14.02 percent and Sabre Capital 3.74 percent of Centurion as on Dec. 31, stock exchange data showed.
Centurion Bank shares, which ended one percent down on Friday valuing the bank at 105 billion rupees, have risen 13 percent since Feb. 20. HDFC Bank shares have lost 4 percent in the same period.
- Courtesy ET
CBOP can see more upside
shirurkar
sorry since there was issue with tarderji database am not able to login.
hope you have seen the mkt today.its purely rangebound. Onething positive is mkt has closed above the crucial resistance of 5240.
but there is no space for fundamentals in expiry & budget trading session.
mkt is range bound & it may behave like today trading session with robust opening & move downside in the later half.
sorry since there was issue with tarderji database am not able to login.
hope you have seen the mkt today.its purely rangebound. Onething positive is mkt has closed above the crucial resistance of 5240.
but there is no space for fundamentals in expiry & budget trading session.
mkt is range bound & it may behave like today trading session with robust opening & move downside in the later half.
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