http://thepointdaily.com/morgan-stanley-nysems-real-estate-investment-may-put-money-in-india/126372/
Morgan Stanley (NYSE:MS) Real Estate Investment may put money in India
Posted on February 12th
Morgan Stanley (NYSE:MS) Real Estate Investing, is thinking on the lines of investing in a project aimed at building 1.6 million square feet of office space in Bandra Kurla Complex, which is a locality in Mumbai, two unidentified sources familiar with the situation briefed.
The Mumbai based company, Wadhwa Group, initiated work on the project. The project is going to build two towers that will be devoted to offices and it is expected to be completed by the end of 2014.
The deal is believed to be in the early stages right now. It will be the first investment by MSREI in an office development project in India, according to an anonymous source. Previously, the company put $850 million in Indian real estate that mostly included housing projects. The amount of $100 million to $125 million was diverted to Mumbai-based Sheth Developers. This information is obtained from a report from Reuters, which was publicized during December 2011.
Currently, MSREI and the Wadhwa Group are not willing to offer any comment on the topic, while in the light of information gathered by research firm Venture Intelligence, a majority of private investors are not willing to put their money in the Real Estate industry of India. The investment level in the industry remained at $1.95 billion in 2012, declining from 2007’s $9.8 billion.
In the last trading session, Morgan Stanley (NYSE:MS) stock traded at the beginning with a price of $23.21 and throughout the trading session climbed to a high of $23.47 and later, when day-trade ended, the stock finally slipped -0.17% to $23.28.
MS current year earnings per share experienced a decline of -103.32%, while its current quarter performance remained +41.26%. MS has 1.98 billion outstanding shares, among them 1.55 billion shares have been floated in the market exchange. MS stock institutional ownership remained 60.23% while insider ownership was 0.20%.
The stock is ahead of its 52week low +91.59% and is lagging behind its 52 week high price -1.94%. The Company’s beta coefficient was 1.60. Beta factor measures the amount of market risk associated with market trade.
