ET repeated this news, discussions for the same have been on since 2007. meanwhile HDIL has been able to sell 3-4 million sft in Mumbai Airport retail space as TDRs which are a pretty useful device when used with legal redress.  Reliance Infrastructure which has a $5 bn book going to $20 billion iin highways alone is also doing well in the Mumbai metro projects. GMR had earlier withdrawn a non project specific fundraising tranche but that should not be a red flag as they have enough funding support in queue for any new projects unless there is an India specific Black swan event. As can be seen below, this phase in Delhi Airports is likely to make the GMR Aviation operations rich nd deliciously sweet for a ride. Unitech is in play for divvying up and operating its infra assets independently with the Noida amusement park near commission. 

There's even been good news on our public services infrastructure support with the UIDAI taking off and Nandan Nilekani also catching the Tax Information Networks pojects on GST

ADAG Reliance big brother Mukesh has kicked off events in Telecom and is buying Power plants to kick its group off in infrastructure with RIIL stuck with the one mono project while ADAG has started increasing its stake in Trent retail stores. 

GMR Infrastructure, the Bangalore-based power and infrastructure major, plans to unlock the value of its airport land holdings by monetising them and thereby grow revenues. 

The GMR Group, which operates the Hyderabad International Airport and Delhi International Airport, has a total of around 5,705 acre of land at these two airports. “Land is like a gold mine and we are unlocking its value now,” said GM Rao, chairman, GMR Group. 

The firm, which has about 250 acre for commercial activity at the Delhi airport, has already monetised 45 acre at a total cost of 2,500 crore in the form of deposits from private developers. 

The company has given out parcels of land to private developers such as Bluecoast, Pride Hotels, Bharti Realty and Shweta Estates for setting up commercial and hospitality projects. The hospitality projects are expected to be operational by the 2011-2012 fiscal. 

The company further plans to monetise a 70-acre land parcel in the coming fiscal. “We plan to increase the traffic which will also up the value of the land which we hold at both the airports,” said Mr Rao. (ET)

Also, : GMR Infrastructure said on Tuesday that it has refinanced its bridge loan of $737 million with a five-year debt. The company said the refinancing was done by a combination of senior and mezzanine debt from a consortium of banks led by Axis Bank and ICICI Bank, and comprising, among others, Bank of India, Bank of Baroda, Canara Bank, Exim Bank, Indian Bank, Indian Overseas Bank, and Syndicate Bank. 

In October 2008, GMR successfully bid for a 50% stake in InterGen for $1.2 billion. A part of the acquisition cost was funded by the short-term bridge loan for two years. 

“InterGen’s debt rollover was a huge liability on the company and it is a positive thing for the company that the debt was refinanced,” said Inderjeet Singh Bhatia analyst with Macquarie Research. 

 

Unlikely that GMR will dispose off Intergen in a hurry, though Macquarie clears that the debt load will rise to 3.6x after consolidation of Intergen statements.

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ET repeated this news, discussions for the same have been on since 2007. meanwhile HDIL has been able to sell 3-4 million sft in Mumbai Airport retail space as TDRs which are a pretty useful device when used with legal redress.  Reliance Infrastructure which has a $5 bn book going to $20 billion iin highways alone is also doing well in the Mumbai metro projects. GMR had earlier withdrawn a non project specific fundraising tranche but that should not be a red flag as they have enough funding support in queue for any new projects unless there is an India specific Black swan event. As can be seen below, this phase in Delhi Airports is likely to make the GMR Aviation operations rich nd deliciously sweet for a ride. Unitech is in play for divvying up and operating its infra assets independently with the Noida amusement park near commission. 

There's even been good news on our public services infrastructure support with the UIDAI taking off and Nandan Nilekani also catching the Tax Information Networks pojects on GST

ADAG Reliance big brother Mukesh has kicked off events in Telecom and is buying Power plants to kick its group off in infrastructure with RIIL stuck with the one mono project while ADAG has started increasing its stake in Trent retail stores. 

GMR Infrastructure, the Bangalore-based power and infrastructure major, plans to unlock the value of its airport land holdings by monetising them and thereby grow revenues. 

The GMR Group, which operates the Hyderabad International Airport and Delhi International Airport, has a total of around 5,705 acre of land at these two airports. “Land is like a gold mine and we are unlocking its value now,” said GM Rao, chairman, GMR Group. 

The firm, which has about 250 acre for commercial activity at the Delhi airport, has already monetised 45 acre at a total cost of 2,500 crore in the form of deposits from private developers. 

The company has given out parcels of land to private developers such as Bluecoast, Pride Hotels, Bharti Realty and Shweta Estates for setting up commercial and hospitality projects. The hospitality projects are expected to be operational by the 2011-2012 fiscal. 

The company further plans to monetise a 70-acre land parcel in the coming fiscal. “We plan to increase the traffic which will also up the value of the land which we hold at both the airports,” said Mr Rao. (ET)

Also, : GMR Infrastructure said on Tuesday that it has refinanced its bridge loan of $737 million with a five-year debt. The company said the refinancing was done by a combination of senior and mezzanine debt from a consortium of banks led by Axis Bank and ICICI Bank, and comprising, among others, Bank of India, Bank of Baroda, Canara Bank, Exim Bank, Indian Bank, Indian Overseas Bank, and Syndicate Bank. 

In October 2008, GMR successfully bid for a 50% stake in InterGen for $1.2 billion. A part of the acquisition cost was funded by the short-term bridge loan for two years. 

“InterGen’s debt rollover was a huge liability on the company and it is a positive thing for the company that the debt was refinanced,” said Inderjeet Singh Bhatia analyst with Macquarie Research. 

 

Unlikely that GMR will dispose off Intergen in a hurry, though Macquarie clears that the debt load will rise to 3.6x after consolidation of Intergen statements.

Posted via email from The investment blog on Post

Nokia, the telecoms giant, and Colgate, the oral care specialist, are the two most trusted brands in India, a survey has found.

Business title the Economic Times partnered with research firm Nielsen to identify which products enjoyed the highest levels of awareness, familiarity and equity among shoppers.

Finnish handset maker Nokia entered India in 1995, headed the rankings for the third successive year.

The company claimed 71st place upon its chart debut in 2004, climbing to 44th in 2006 and fourth in 2007, and suggested such pre-eminence relies on a mixture of consistency and innovation.

"I would argue that the tougher the economic and social context, the more consumers reach out to comfortable, honest and authentic choices like Nokia," said D Shivakumar, its managing director in India.

"Trusted brands invariably respond to increased competition by focusing on what they do well and also by building something new for the future."

Colgate, active in India from the 1930s onwards, retained second spot behind Nokia, as it has in every annual study since 2008.

Previously, it had occupied first position four times in a row.

Wow, can't imagine we could soon be without Bata and Colgate, if Pepsodent and Reebok get their way...but will Indian handsets and the Chinese edge out Nokia?

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Now is the time, many participants in the Indian markets would like a breather. The internecine bickering in trades when whole days go by in dull 5 point bands and new bullish levels are lost by a whisker because of the shorts thinking the market is over priced, it is a well nigh trading battle in the markets. But the world outside the market ( if you sday so!) trying to ccreate a new level of mature regulation for India Inc as a flourishing property and  a thriving market and regulation is being recreated at different fronts. We had the foreshight to table a new Direct Tax Code, GST Law, the new Company Law and settle some disputes between IRDA, SEBI and RBI as well. We did not however, have the where withal to turn any of them into viable laws, the watered down versions of Direct Taxes, GST, and even new FDI in Retail and Defence about to bring down the crumbling edifice it suddenyl looks. All the new regulation discussed in 2009 , started at a very different all things ready kind of deal but all of them were seeming threats to established corporates and auditors and could not stand the evracity of their ideas for even one draft. A revenue positive Tax code required bringing the new code to much the old edifice, a GST law and a retail FDI law are being blackballed by states whio do have enough of their own cash but cannot face up to overpowering change from a strong center.

As Rajan Mittal also mentioned, going back on retail FDI after proposing such a wonderful workaround in terms of back office/ procurement support for local businesses and even exclusive licensing shows that a "Bombay Club" is alive and kicking and well in control in the bureaucracy and the reform agenda is going along only slower than it did in the previous decade. Time to move on though, India is still one of the luckier ones with a functioning government and a direcion which is still a secular upside, one that will come and go in hiccups without any new ideas being born. Retail FDI will not clear for more than 49% Foreign ibnvestment Cap, GST will be a very high amount and services will not transition in the first instance, subsidy outgo is will remain and direct taxes will net the same as they did last year with cosmetic 5% shavings off the top not good for the store to get much more. Enough has been achieved and unfortunately ther e will always be a umbrella comparison with other markets whence the Indian Economy and its markes will continue to be pulled into unnecessary restraint. Life goes on.

New Company Law already has five or ten different handshaekes with SEBI where there is going to be internecine argument on turf. RBI still has to clarify its position in the nations Economic decision making and inflation is wel land truly out of control, interest rates likely to end up inn the double digits before market amnalysts turn around on their hypothese and figure out what works.

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Well, yes, Geoffery Ching's got the right mix of countries to get by simply taking this month's ETF lists. The right time, theright place and the right ones to tend and grow:)

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