GVK has to raise USD 7 billion in debt to succeed in its venture to mine coal Down Under and fight off stiff competition. The Great Barrier Reef, off the coast of Queensland, is one of Australia‘s greatest natural gifts. The coral reef system stretches for 2,600 km and can be seen from outer space.
Expecting the market to pan out as per the anticipations on the upside, Sudarshan Sukhani of s2analytics.com said he sees more headroom for Nifty to go higher. However, he said, "The first resistance for the Nifty is in the narrow band between 4820-4840, and hence, that is a possible target for current up move."
GVK Power and Infra is set to report about 4% fall in its fourth quarter profit after tax of Rs 32 crore as against Rs 33 crore the same quarter of FY10 while on the quarter-on-quarter basis, profit is likely decline 25%.
In an interview with CNBC-TV18, Sanjay Reddy, vice chairman of GVK Power & Infra said, "Terminal I is being expanded. Hopefully, by next month end or by May we'll start construction. It will take 18 months from there. We will be just a little less than double the capacity."