Monday, August 1, 2011

Orbit Under Pressure.

Orbit Corporation may remain under pressure, says SP Tulsian of

Tulsian told CNBC-TV18, “Orbit Corporation has been facing lot of liquidity pressure, because that is what we have been gathering from the market that they are even unable to raise interest even at a higher rate of interest and secondly that none of their projects, because they have the larger presence in the redevelopment project and there has been no clearance having given by the BMC in these last 6 months or so.”

He further added, “So they are stuck with all the projects. So, obviously they are suffering more on account of the interest burden, the liquidity pressure, the non-clearance of the project and on top of it, there has been no off take, because in the larger space, the flats or the premises of Rs 5 crore and above, are not seeing any kind of activity. So, these are the combination of these factors, which are keeping the share price under pressure or the financial working of the company under pressure.”


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