Editor's Desk

A Week of collateral damage in Indian Equity

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The markets across the world have slipped to new multi-year lows on account of the deepening economic recession globally. In the USA, the economic realities have overshadowed the short-lived euphoria that was created by the rhetoric of the Obama administration. The Indian equity markets have also witnessed a sell-off in line with the meltdown in … Read more A Week of collateral damage in Indian Equity

India Hotels – Sharp Decline in Occupancy and Avg Room Rent

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While this was better than Dec’08 (immediately post the 26/11 attacks), data is disappointing. Jan is traditionally considered peak business season for star hotels and average occupancy falling to 58% (vs. 79% in Jan’08) with ARRs down 14% YoY in 10 key cities across India does raise downside risks to earnings. Bangalore and Pune reported … Read more India Hotels – Sharp Decline in Occupancy and Avg Room Rent

Tata Group’s funding challenges manageable – Kotak

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Tata Group of companies (represented by five largest listed entities) would generate Rs100 bn in free cash flows in FY2010E, against Rs117 bn in debt coming due for repayment/refinance, implying a funding gap of Rs17 bn. Coverage ratios at the group level are 2.8X net debt/EBITDA (4X debt/EBITDA) and 4.3X EBITDA/interest based on FY2010E EBITDA … Read more Tata Group’s funding challenges manageable – Kotak