Buzz of QIP over subscription lifts GVK Power & Infrastructure

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 03/07/2009 | 12:00 AM IST

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Capital Market

Friday, July 03, 2009 (New Delhi)

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Meanwhile, the BSE Sensex was up 66.15 points, or 0.45%, 14,724.64.

On BSE, 29.91 lakh shares were traded in the counter. The stock had an average daily volume of 7.42 lakh shares in the past one quarter.

The stock hit a high of Rs 42.85 and a low of Rs 41.20 so far during the day. The stock hit a 52-week high of Rs 50.50 on 5 June 2009 and a 52-week low of Rs 10.30 on 27 October 2008.

The mid-cap stock had underperformed the market over the past one month till 2 July 2009, falling 7.13% as compared to the Sensex's 1.45% fall. It had outperformed the market in the past one quarter, surging 66.47% as compared to the Sensex's return of 41.64%.

The company's current equity is Rs 140.58 crore. Face value per share is Rs 1.

The current price of Rs 39.50 discounts the company's Q4 March 2009 annualized EPS of Rs 0.11, by a PE multiple of 7.31.

GVK Power & Infrastructure has reportedly raised US$150mn from selling shares to institutional investors. The shares were sold at Rs 41.35 apiece

GVK Power (Goindwal Sahib), a wholly owned subsidiary of GVK Power & Infrastructure had on 5 June 2009 signed the power purchase agreement with the Punjab State Electricity Board (PSEB) for implementing the two 270 megawatt coal based thermal power plant at Goindwal Sahib in Punjab.

GVK Power & Infrastructure's net profit tumbled 76.9% to Rs 21 crore on 63.8% fall in total income to Rs 42.47 crore in the year ended March 2009 over the year ended March 2008.

GVK Power & Infrastructure provides operations and maintenance services to its power assets. The company operates power plants, serving distribution companies of Andhra Pradesh in India.

Promoters of the company have pledged more than 6.14 crore shares representing 4.37% of the equity capital of the company (as on 31 March 2009). The total promoter shareholding in the company is 60.94% (as on 31 March 2009).

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