GVK Power and Infrastructure and Australia's Hancock Prospecting have extended the mining deal deadline yet again to the end of August. As both companies were differing on valuation of two Australian coal mines, they have extended the deal. GVK's negotiations for the roughly $1.3 billion deal with Hancock for the Alpha Coal and Kevin's Corner mines began in February. Both the companies had already extended the deadline twice before.
To finance the deal GVK is anticipated to take loans from India's second-largest lender ICICI Bank, Standard Chartered and domestic public sector lender Bank of Baroda.
The company reported results for the year ended March 31, 2011. The company has registered growth of 214.99% in its net profit for the year ended March 31, 2011 at Rs 68.29 crore as compared to Rs 21.68 crore for the year ended March 31, 2010. On the consolidated basis, the group’s net profit for the year has declined marginally by 0.62% at Rs 154.91 crore as compared to Rs 155.87 crore for the year ended March 31, 2010.
Company Name | CMP |
---|---|
NTPC | 356.00 |
Tata Power | 430.30 |
Power Grid Corp | 309.50 |
Adani Power | 627.65 |
Torrent Power | 1363.30 |
View more.. |