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Tag Archives: infrastructure

Oriental Bank of Commerce sells stake in NSDL e-Governance Infrastructure

Oriental Bank of Commerce has sold 0.8425% equity stake in NSDL e-Governance Infrastructure out of 3.125% equity stake held by the Bank prior to such sale. Oriental Bank of Commerce is a commercial bank. The Bank operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations. Read More »

Sadbhav Infrastructure Project’s toll collection rises 6.2% in Q3FY19

Sadbhav Infrastructure Project’s collection of toll revenue from its 10 operational Special Purpose Vehicles (SPVs) has increased by around 6.2% to Rs 2,757.6 million in Q3FY19 from Rs 2,597.8 million in Q3FY18. The company’s toll revenue from its Ahmedabad Ring Road Infrastructure (ARRIL) in Q3FY19 has increased by around 4.8% to Rs 242.1 million from Rs 231.0 million in Q3FY18. ... Read More »

Shriram EPC bags orders from Jharkhand Urban Infrastructure Development

Shriram EPC has bagged two separate orders worth Rs 166.16 crore and Rs 59.55 crore from Jharkhand Urban Infrastructure Development for augmentation and strengthening of Dhanbad Water Supply Scheme – Phase 1 under Dhanbad Municipal Corporation and Water Supply for Khunti Nagar Panchayat (Jharkhand). Shriram EPC is one of the leading service providers of integrated design, engineering, procurement, construction and ... Read More »

Ramky Infrastructure completes sale of NAM Expressway

Ramky Infrastructure has completed the sale of 100% of the company’s shareholding in NAM Expressway to Cube Highways and Infrastructure Pte, Singapore. Pursuant to the completion of the 100% share transfer, the consolidated debt of the company is reduced by about Rs 15,590 million. Further with effect from December 1, 2018, NAM Expressway shall ceases to be a Wholly owned ... Read More »

GMR Infrastructure’s arm inks agreement for development of Commercial Port

GMR Infrastructure’s step down subsidiary — Kakinada Gateway Port (KGPL) has signed the Concession Agreement with the GoAP for development of a green-field commercial port on Design, Build, Finance, Operate and Transfer (DBFOT) basis in Kona Village, East Godavari District, Andhra Pradesh. The concession has been awarded with a concession fee of 2.7% of revenue share in the first 30 ... Read More »

AERA allows GMR Infrastructure’s arm to maintain minimum BAC

The Airport Economic Regulated Authority of India (AERA) has allowed GMR Infrastructure’s Subsidiary Delhi International Airport (DIAL) to charge the rates equivalent to Base Airport Charges (BAC) plus 10% of BAC effective from December 01, 2018. GMR Infrastructure is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports ... Read More »

HCL Technologies features as leader for Everest Group’s IT Infrastructure Services Automation

HCL Technologies (HCL) has been recognized as a leader among 20 companies analyzed for the Everest Group’s IT Infrastructure Services Automation – Market Trends and Services PEAK Matrix. The company received leadership recognition for its DRYiCE portfolio of products, which Everest Group commends for its strong automation and analytics capabilities offerings. The company’s DRYiCE is an established leader focused on ... Read More »

SREI Infrastructure Finance reports 29% rise in Q2 consolidated net profit

SREI Infrastructure Finance has reported results for second quarter ended September 30, 2018. The company has reported a rise of 7.61% in its net profit at Rs 29.13 crore for the quarter under review as compared to Rs 27.07 crore for the same quarter in the previous year. However, total income of the company decreased by 1.76% at Rs 445.95 ... Read More »

Reliance Infrastructure reports 49% fall in Q2 consolidated net profit

Reliance Infrastructure has reported results for second quarter ended September 30, 2018. The company has reported a fall of 65.66% in its net profit at Rs 204.31 crore for the quarter under review as compared to Rs 595.03 crore for the same quarter in the previous year. However, total income of the company increased by 73.42% at Rs 1,355.56 crore ... Read More »

GMR Infrastructure’s Q2 consolidated net loss narrows to Rs 219 crore

GMR Infrastructure has reported results for second quarter ended September 30, 2018. The company has reported net loss of Rs 106.62 crore for the quarter under review as compared to net loss of Rs 276.41 crore for the same quarter in the previous year. However, total income of the company increased by 35.68% at Rs 279.51 crore for Q2FY19 as ... Read More »

Maruti Infrastructure bags order worth Rs 45.68 crore

Maruti Infrastructure has been awarded the tender for construction of 973 EWS Residential including internal infrastructure & development work as approved by Standing Committee, Ahmedabad Municipal Corporation, Ahmedabad, Gujarat. The tender project cost is Rs 45.68 crore. Maruti Infrastructure is presently engaged in the business of construction and estate development activities. Read More »

Sadbhav Infrastructure Project’s arm submits financial closure for Gujarat project

Sadbhav Infrastructure Project’s wholly owned subsidiary — Sadbhav Bhimasar Bhuj Highway (SBBHPL) has submitted draft financing documents to National Highways Authority of India (NHAI) in relation to Financial Close within the timelines stipulated in accordance with the Concession Agreement dated May 23, 2018. The company has submitted the same for project of upgradation to 4 lane with paved shoulder of ... Read More »

CONCOR signs agreement with Kribhco Infrastructure

Container Corporation of India (CONCOR) and Kribhco Infrastructure (KRIL) have entered into an agreement, wherein CONCOR will operate & manage the Bonded Area at KRIL’s Terminal at Modinagar in the state of Uttar Pradesh, for handling of EXIM traffic. This will help to promote and meet the growing needs of Exports/Imports business situated in its hinterland. CONCOR is a Public ... Read More »

IRB Infrastructure’s arm achieves financial closure for Vadodara-Mumbai Expressway project

IRB Infrastructure Developers’ Wholly-owned Subsidiary (SPV) — VK1 Expressway has achieved financial closure for the project of construction of eight lane Vadodara Kim Expressway from Km 355.00 to Km 378.740 (Padra to Vadodara section of Vadodara Mumbai Expressway) in the State of Gujarat under NHDP phase -VI on Hybrid Annuity Mode (Phase IA-Package I). With this SPV achieving financial closure, ... Read More »

GMR Infrastructure’s arm launches Airport Radio in Hyderabad

GMR Infrastructure’s subsidiary — GMR Hyderabad International Airport (GHIAL) has launched South India’s first Airport Radio under its signature ‘#PassengerIsPrime’ programme at Rajiv Gandhi International Airport in Hyderabad in the state of Telangana. The airport handles over 55,000 passengers on a daily basis. Mirchi Airport Radio is a 24×7 custom-produced, exclusive airport radio service for the passengers at the airport. ... Read More »

Reliance Industrial Infrastructure reports 22% fall in Q2 net profit

Reliance Industrial Infrastructure (RIIL) has reported results for second quarter ended September 30, 2018. The company has reported 21.93% fall in its net profit at Rs 2.10 crore for the quarter under review as compared to Rs 2.69 crore for the same quarter in the previous year. However, total income of the company increased by 5.80% at Rs 25.18 crore ... Read More »

GMR Infrastructure’s arm signs MoU with APGDC: Report

GMR Infrastructure’s subsidiary — Kakinada SEZ has reportedly signed a memorandum of understanding (MoU) with the Andhra Pradesh Gas Development Corporation (APGDC). The company has signed a MoU to get access to piped natural gas for its upcoming 10,500-acre Kakinada Special Investment Region. GMR Infrastructure is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, ... Read More »

Sadbhav Infrastructure Project’s arm wins arbitration award against NHAI

Sadbhav Infrastructure Project’s subsidiary — Nagpur Seoni Express Way (NSEL) has won an arbitration award against NHAI of Rs 61.25 crore (including interest upto the date of award of Rs 18.64 crore). From the date of award till final payment, NSEL shall receive interest at the rate of 12% p.a. Additionally, NSEL will also get 19 Semi Annual Annuity amount ... Read More »

GMR Infrastructure gains on the bourses

GMR Infrastructure is currently trading at Rs. 16.25, up by 0.25 points or 1.56% from its previous closing of Rs. 16.00 on the BSE. The scrip opened at Rs. 16.00 and has touched a high and low of Rs. 16.30 and Rs. 16.00 respectively. The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high ... Read More »

PM Modi reviews progress of key infrastructure sectors

In line with his hands on approach for the country’s development..Prime Minister Narendra Modi reviewed progress of key infrastructure sectors of roads, Pradhan Mantri Gramin Sadak Yojana, rural housing, urban housing, railways, airports and ports ..The meeting was attended by top officials from infrastructure-related ministries, NITI Aayog and PMO and lasted nearly 2 hours.. BUILDING NEW INDIA — NITI Aayog ... Read More »

PM Modi reviews performance of key infrastructure sectors

The review meeting was attended by top officials from  infrastructure-related Ministries, NITI Aayog, and PMO. The average road length constructed per day in Financial  Year 2017-18 was 26.93 km, as compared to 11.67 km in Financial Year 2013-14. In the railways sector, there has been significant addition in capacity and rolling stock. Between 2014 and 2018  passenger traffic in aviation sector ... Read More »

PM Modi addresses 3rd annual meeting of Asian Infrastructure Investment Bank

The theme for this year’s meeting is “Mobilizing Finance for Infrastructure: Innovation and Collaboration.” The Board of Directors of AIIB approved an equity investment of 100 million US dollars in India’s National Investment and Infrastructure Fund, NIIF. AIIB is considering a further investment of 100 million US Dollars.  AIIB Vice President and Chief Investment Officer D.J. Pandian said bank’s investment ... Read More »

PM Modi to address 3rd annual meeting of Asian Infrastructure Investment Bank

The theme for this year’s meeting is “Mobilizing Finance for Infrastructure: Innovation and Collaboration.” This year will also see the launch of the inaugural Asian Infrastructure Forum, which will gather infrastructure practitioners in a practical and project-driven discourse, focused on matching innovative finance to critical infrastructure needs. Later, Prime Minister will also meet business leaders and captains of industry. Finance ... Read More »

Cabinet approves  three major infrastructure projects

The Cabinet Committee on Economic Affairs has approved continuation of government’s Umbrella Scheme ‘Green Revolution- Krishonnati Yojana’ in Agriculture Sector. Addressing media persons, Union Minister Ravi Shankar Prasad said that under this, eleven schemes have been brought under one umbrella scheme. CCEA also approved restructuring of Multi-Sectoral Development Programme for its continuation during remaining period of 14th Finance Commission as ... Read More »