GMR Group
The current debt position is around Rs 37000 crore and post rights issue which is expected to happen sometime in November, I think this should fall down by around Rs 1300 crore again further. Apart from the actual aggregate amount, what is the miracle that is going to happen actually, if you look at our [...] Continue Reading »
The GMR group is planning to set up an aerospace training centre in Hyderabad on the lines of the one established by Morocco. With the help of French multi-national firm Safran, the group has sent a team to the African country to study the model adopted by it. It has sought the help of Telangana [...] Continue Reading »
Shares of GMR Infrastructure and Usha Martin will be tracked keenly by market men as these company boards meet on Tuesday to consider a rights issue. The infrastructure developer, which has interests in airports, energy and highways, did not specify the amount it was looking to raise. GMR recently had raised ₹1,478 crore through an [...] Continue Reading »
The top and mid-tier infrastructure firms are looking to hire senior executives, after a slump in hiring for the last 2 years due to the economic slowdown. These companies are looking at the ways to reduce debt, turn around projects and win new ones from an expected pick-up in infrastructure growth. There is a positive Modinomics playing [...] Continue Reading »
Different fashion labels, travel operators, real estate developers, infrastructure developers and other companies that had chose to avoid tapping investors for around three years are starting to revive share sale plans in order to benefit from the buoyant equity markets and gain advantage. The companies are expecting an economic upturn and hence they have made [...] Continue Reading »
The Board of Approvals which is under the Union Ministry of Commerce has given its conditional nod to a GMR Group proposal in order to buy out the 50 percent stake which is owned by its partner Malaysian Aerospace Engineering in an aircraft maintenance repair and overhaul (MRO) unit. The MRO unit is located at [...] Continue Reading »
GMR Infrastructure Ltd, which currently has an ‘asset light’ business strategy, is apparently planning an overall business strategy shift in favour of more ‘balanced growth.’ The business strategy shift which is being mulled by GMR will come at a time when the market sentiment is witnessing an improvement. The GMR Group is already prepared to [...] Continue Reading »
The submission of the request for qualification (RFQ) by the prospective bidders for the Navi Mumbai international airport project has been extended by one month by the project’s nodal agency, City and Industrial Development Corporation (Cidco). In a recent announcement, Cidco has revealed that the deadline for the submission of the RFQ released on February 5 has [...] Continue Reading »
The National Highways Authority of India (NHAI) is looking at ways to ensure against unduly aggressive bids with a large number of developers abandoning flagship projects — the GMR Group walked out of the Kishangarh-Ahmedabad project in FY13. While the GMR Group had bid a first-year premium of Rs 636 crore for this project, the [...] Continue Reading »
The GMR-Megawide Consortium paid Philippine pesos 14.4 billion (approximately $320 million) as upfront premium for award of the concession of the Mactan Cebu International Airport to the Mactan Cebu International Airport Authority, the Philippines. With this, demonstrating its commitment towards the project the GMR-Megawide consortium has fulfilled its first major obligation well within the stipulated [...] Continue Reading »
