For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

GTL saw its stock price rise over 30%

|

GTL saw its stock price rise over 30%
GTL Infrastructure: Quotes, News
BSE 0.69BSE Quote0.01 (-1.45%)
NSE 0.70NSE Quote0 (0.00%)
GTL: Quotes, News
BSE 4.78BSE Quote0.52 (-10.88%)
NSE 5.25NSE Quote0 (0.00%)
The telelcomunication infrastructure company, GTL and GTL infrastructures, went up after news came that the lenders of the two companies have agreed to debt restructuring proposals of the two companies.
 

According to these media reports, the two companies should get be able to complete their debt restructuring plan by November. This debt recast will help the company to sell its tower business and retire debt.

Earlier there were reports that Viom was one of the probable candidate to acquire telecom tower business.

GTL Infrastructure has 15-years for retiring its debt. There is also a clause which gives a two-year moratorium period, according to a report by Economic Times. In total the company has 22 lenders with Union Bank as the leading lender.

Meanwhile, GTL has approximately eight-year period to repay its debt with a two-year moratorium period, and this company has 15 lenders, as reported by a report of Economic Times. Here the lead banks are ICICI Bank, Standard Chartered Bank and Andhara Bank are the lead lender for the company.

Another section of the media has stated that the some of the lenders still have to agree to the debt restructuring to make entire proposal possible.

VIEW: There is a trading opportunity in GTL Infrastructure. But a clear pattern will emerge only after the board approves the debt restructuring.

Long-term investors should stay away from the stock. And the momentum investors will find many opportunities to enter.

GoodReturn.in

Read more about: gtl debt gtl infrastructure bse nse
Story first published: Friday, September 9, 2011, 15:31 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X