GVK Power Gains on Optimism It May Sell Asset Stakes to Pay Debt
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GVK Power and Infrastructure Ltd Stock News, Analyst Calls And Reviews
GVK Power and Infrastructure Ltd, which requires lifting up $1.1 billion to make an investment in the medium term crosswise its business groups and particularly in power, may appear to sell a part of its equity stake in seven oil and gas blocks off the country’s west coast.
Two individuals acquainted with the development stated that the company was making discussions with the UK’s BG Group Plc for this.
One of the two stated that BHP Billiton Ltd, GVK’s associate in the blocks, may also augment its holding.
GVK group chairman G.V. Krishna Reddy stated, “I can’t confirm this.”
Representatives for BG India and GVK Power refused to remark.
As per data posted on the GVK website, GVK Power proposes to expend Rs 220 crore by 2015 on major work.
The GVK group in 2011 shut an agreement to get hold of coal mines and related infrastructure from Georgina Hope Rinehart’s Hancock group for $1.26 billion and is in the process of lifting up funds for this.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
GVK Power Gains on Optimism It May Sell Asset Stakes to Pay Debt
GVK Power clarifies on oil block stake sale buzz
Buy call for GVK Power: Ashwani Gujral
