Stocks to watch: GTVL Infra, Jaiprakash Power, Reliance Power,Texmaco, REC
GTL Infrastructure, which leases towers to cellular operators, has agreed to buy Aircel Cellular’s tower business for Rs 8,400 crore in an all-cash deal that will make it the world’s largest independent telecom tower company.
By ET Bureau |
GTL Infrastructure, which leases towers to cellular operators, has agreed to buy Aircel Cellular’s tower business for Rs 8,400 crore in an all-cash deal that will make it the world’s largest independent telecom tower company. The world’s biggest deal yet in the telecom tower space is to be announced on Thursday.
Jaiprakash Power Venture, that houses the power generation business of diversified $7-billion Jaiprakash Associates, is raising Rs 1,500 crore through a qualified institutional placement. The company is likely to dilute around 10% stake by the end of this fiscal to raise the fund,
In a set back to Reliance Power and RNRL, around 500 farmers approached the district authorities to get their land back from Anil Ambani-controlled Reliance Power.
Texmaco, which is part of the KK Birla group, along with its closest rival Titagarh Wagons, has been a key beneficiary of the Indian Railways plan to acquire 18,000 wagons in 2009-10. However, Texmaco’s operating profit margin fell 230 basis points year-on-year (YoY) to 13.9% for the December ‘09 quarter and that’s despite a 43.4% growth in net sales to Rs 238.8 crore. Pressure on the company’s operating margins was due to key raw material costs as a percentage of net sales which rose to nearly 440 basis points YoY to 79.8% in the third quarter of FY10.
State-run Rural Electrification corporation posted a 48.6% jump in net profit at Rs 474 crore for the quarter ended December 31, 2009, over the same period the previous year. The company had posted a net profit of Rs 319 crore in the third quarter of 2008. REC, engaged in financing power projects, sanctioned loans to the tune of Rs 10,000 crore in the third quarter of 2009.
Results Today: Jindal Saw, CMC, Finolex Industries, Orient Paper, Rallis, South Indian Bk, Tinplate, Usha Martin,
Jaiprakash Power Venture, that houses the power generation business of diversified $7-billion Jaiprakash Associates, is raising Rs 1,500 crore through a qualified institutional placement. The company is likely to dilute around 10% stake by the end of this fiscal to raise the fund,
In a set back to Reliance Power and RNRL, around 500 farmers approached the district authorities to get their land back from Anil Ambani-controlled Reliance Power.
Texmaco, which is part of the KK Birla group, along with its closest rival Titagarh Wagons, has been a key beneficiary of the Indian Railways plan to acquire 18,000 wagons in 2009-10. However, Texmaco’s operating profit margin fell 230 basis points year-on-year (YoY) to 13.9% for the December ‘09 quarter and that’s despite a 43.4% growth in net sales to Rs 238.8 crore. Pressure on the company’s operating margins was due to key raw material costs as a percentage of net sales which rose to nearly 440 basis points YoY to 79.8% in the third quarter of FY10.
State-run Rural Electrification corporation posted a 48.6% jump in net profit at Rs 474 crore for the quarter ended December 31, 2009, over the same period the previous year. The company had posted a net profit of Rs 319 crore in the third quarter of 2008. REC, engaged in financing power projects, sanctioned loans to the tune of Rs 10,000 crore in the third quarter of 2009.
Results Today: Jindal Saw, CMC, Finolex Industries, Orient Paper, Rallis, South Indian Bk, Tinplate, Usha Martin,
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