Interim results for IIP for six months ended 30 September 2013. NAV falls to 63p from 78p. Fall in value of Indian rupee and increase in the Indian risk free rate (used to value investments) unhelpful, Vikram Logistics having difficulty in getting disbursement of approved debt which is holding up construction. Stakeholders in Shree Maheshwar Hydel Power (dam pictured) still talking about restructuring and completion of project. Managers say the Indian debt financing market is deteriorating which is unhelpful but IIP’s operational businesses “have performed well”.
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