In an interview to CNBC-TV18, MV Gowtama, CMD of Bharat Electronics Ltd (BEL) spoke about the latest happenings in his company and sector.
Cabinet, on Wednesday, cleared a Rs 4,000 crore aimed at boosting shipbuilding and ship repair industry in the country.
Lalit Jalan says Reliance Infrastructre will focus on defence, and expects the company to be debt free by March 2017. The company will also look for opportunities in the EPC space, Jalan says.
Nikhil Gandhi, Chairman of Pipavav Defence told CNBC-TV18 that exiting CDR will help the company bag larger projects in defence and related sectors.
Bhattacharya did not specify a timeline for taking SBI Life public, but said SBI will approach the market when conditions are favourable.
After negotiating for bulk sale, IDBI offloaded 10 percent in CARE to LIC for Rs 421 crore. The bank's deputy MD BK Batra informed that the bank has strategic stake in various companies which are quite valuable today.
India Ratings has downgraded Reliance Infrastructure to 'A+' from 'AA-' post Pipavav acquisition. In an interview to CNBC-TV18, Rakesh Valecha, Senior Director and Head of Corporates at India Ratings, said he expects Reliance Infra‘s debt/EBITDA to fall below 5x.
This is the first big deal after the government opened up defence sector and both the companies have a shared vision for infrastructure growth, said Nikhil Gandh of Pipavav Defence.
The deal, that reports suggest is worth Rs 3000 crore, is said to happen in three steps that will later lead to an open offer.
The industry is delighted to see government thrust on defence orders, says Nikhil Gandhi, Chairman, Pipavav Defence adding that he expects clearance for more such proposals for Army, Navy and Air Force.
Nikhil Gandhi, chairman, Pipavav Shipyard told CNBC-TV18 that the promote stake after the deal will come down to 41 percent from 45 percent initially.
Nikhil Gandhi, chairman, Pipavav Defence told CNBC-TV18 that the company‘s order book has now reached to Rs 8,500 crore. Further, it is likely to reach Rs 15,000-17,000 crore in three-six months.
Pipavav Defence and Offshore Engineering expects significant improvement in the order book in two quarters, Chairman Nikhil Gandhi pointed out. Defence orders to drive order inflow in coming quarters, he added.
Shares of Pipavav Defence sank over 3.5% in morning trade on Tuesday, after its joint venture with Mazagon Dockyard was put on hold by the Defence Ministry.
Nikhil Gandhi, group chairman of SKIL Infra, in an interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee, said that the company is planning to raise funds through long-term debt to meet requirements.
Navratna public company, Shipping Corporation of India, is planning to buy stakes in shipyards like Bharti Shipyard and Pipavav Shipyard. In an interview with CNBC-TV18's Gautam Broker and Soniya Shenoy, S Hajra, chairman and managing director of Shipping Corporation of India spoke about the company's stake buying ventures.
Nikhil Gandhi, Chairman, Pipavav Shipyard in an interview with CNBC-TV18, said that the company is committed to repay USD 250 million debt which was secured for the fusion stake of Punj Llyod in Pipavav Shipyard. The company is in the process of raising the money from the open market for the same.
Nikhil Gandhi, chairman, Pipavav Shipyard, talks to CNBC-TV18 about the expected stake sale of the company and highlights the way forward.