Reliance Infrastructure's arm Reliance Sealink One has tied up the entire debt of Rs 2,000 crore with ICICI Bank for Mumbai's Worli-Haji Ali sea link. The project may be delayed by another 2-3 months because of pending issues related to financial obligations of state authorities.
A joint venture between the Anil Dhirubhai Ambani group's Reliance Infrastructure and Hyundai Engineering , Reliance Sealink One, will take over the project only after sorting out these issues, particularly the viability gap funding, or financial support to make economically essential infrastructure projects commercially viable. The company was scheduled to start construction by July 3. The company is in all readiness to announce financial closure for the project but it will do so after the key issues are resolved. The company’s loan from ICICI Bank, includes an external commercial borrowing of $150 million, at an average rate of 10%.
Reliance Infrastructure will be investing Rs 1,200 crore into the equity of the project. The project will also get a viability gap funding of Rs 1,392 crore in phases over the next three years. The viability gap fund is at the core of the problem as the state government has declined MSRDC's request to pay the fund. Reliance Infra and MSRDC are in active discussion through government of Maharashtra to sort out all issues and achieve financial closure. MSRDC has been lending all possible cooperation and keen to sort out issues at the earliest.
| Company Name | CMP |
|---|---|
| NTPC | 333.30 |
| Tata Power | 401.25 |
| Power Grid Corp | 315.75 |
| Adani Power | 498.45 |
| Torrent Power | 1476.80 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Instant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
