Mahindra may take over Reva for 450 cr. Reva’s small battery run car retails at too much – 3.5 to 5.5L – but having a network like Mahindra’s should help enormously. I also love the new NXR design, though honestly, I can’t see myself buying it; I live in an apartment building and have no idea how they’ll let me charge the car for no money, and an every day refuel is not my idea of fun.
Lodha will pay 4050 cr. over five years for a 25,000 sq. mt (about 250,000 sq. ft.) plot in Wadala, Mumbai. Not very bullish on real estate at the moment, but Mumbai has surprisingly kept up the pressure.
Bharti’s raising 8,500 cr. for the 3G spectrum payment. An interest of 8-9% adds about 700 crores to their costs each year. Tata Tele raises 4,500 cr., through LIC and banks.
Pritchard at the UK Telegraph points to two clauses that allow Euro countries to bail out of the bailout. One, if courts find that the payments breach a “no-bailout-clause” – duh. The other, that a payer nation can’t raise funds below 5% for the payment. (HT Zero Hedge)
Aban Offshore is trying to mop up 4,400 cr. by selling shares, or FCCBs or anything of that sort. The Debt to Equity ratio is 7:1, and the company just lost the highest contributor to revenue, the Aban Pearl. The chart of Aban Futures shows some serious damage:
In early trade today, markets are up a little bit, but volatility is truly and surely back. Another post on that front.
