Category: Infrastructure

IRB Infra shares rise after company says toll collection rising for all projects

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”IRB Infra” isinid=”INE821I01014″ bseid=”532947″ nseid=”IRB” sector=”Infrastructure – General” exchange=”nse”]

IRB Infrastructure’s gross toll collection has risen 39.2 percent to Rs 365.95 crore in November 2022 from Rs 262.81 crore in November 2021.

The toll collection of its two wholly-owned subsidiaries – IRB MP Expressway Pvt. Ltd. and IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd. – was Rs 179.16 crore in November 2022 as against Rs 158.93 crore in the year-ago month, a growth of 12 percent.

The collection of 10 JV entities under the InvIT was Rs 186.79 crore in the month under review as against Rs 103.8 crore in the year-ago period.

Also Read: IRB Infra shares jump most in five months after signing definitive agreements for Ganga Expressway

The IRB Group company has 22 highway projects across 10 Indian states and has an asset base of Rs 60,000 crore. It has 43 toll plazas with 572 FASTag lanes that cater to around 10 lakh vehicles every day.

The company also has a 12,000 km lane under operations and a 20 percent share in the Golden Quadrilateral Project.

The company’s Group CFO Tushar Kawedia told CNBC-TV18 that the company saw nearly 20 percent growth in toll collections in the first half of the financial year. He added that they were expecting a similar 20 percent growth for the full year as the momentum was still continuing with the festive season.

Shares of the highway construction company are trading at Rs 284.25, up 2.64 percent.

Also Read: IRB Infra gets NHAI approval for transfer of Vadodara-Kim Expressway Project

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

PM Modi to flag off Vande Bharat Express on Bilaspur-Nagpur route on December 11: Reports

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Prime Minister Narendra Modi will flag off the sixth Vande Bharat Express, a semi-high-speed multiple unit train, on December 11. The train will be operated on the 300-km long Bilaspur (Chhattisgarh)-Nagpur (Maharashtra) route, according to reports.

It will take the train about five-and-a-half hours to cover the distance and will stop at three stations — Raipur, Durg and Gondia — apart from the origin and destination points. The Vande Bharat Bilaspur (Chhattisgarh)-Nagpur train will run six days a week.

“This train will leave Bilaspur at around 6.45 am and reach Nagpur at around 12.15 pm,” Hindustan Times quoted an Indian Railways official as saying.

Also read | Vande Bharat Express: Everything you need to know about the semi-high-speed train

On the return journey, the train will depart from the Nagpur station at 2 pm to reach Bilaspur at 7.35 pm. At present, it takes superfast trains around seven hours to reach Nagpur.

There are around 100 trains operating on this route where 35,000 passengers travel every day. The Vande Bharat train is being inaugurated on this route to attract more passengers, The Times of India reported quoting a railway official.

The train is expected to be operated by the Southeast Central Railways (SECR).

Another Vande Bharat train is likely to be launched on the Secunderabad and Vijayawada route in 2023. Once inaugurated, this will become the first indigenously-built semi high-speed rail to be operated by the South Central Railway (SCR) and second such train in south India.

Also read | Vande Bharat: WR to spend Rs 264 crore to build fences along Mumbai-Ahmedabad route to stop animal hits

The Indian Railways had first inaugurated Vande Bharat Express train on the New Delhi- Kanpur- Allahabad-Varanasi route on February 15, 2019. However, the first new-generation Vande Bharat train was flagged off on the Mumbai- Ahmedabad route in October this year.

In the last budget, the government had announced to operate 400 Vande Bharat trains in the next three years. By August next year, the Indian Railways aims to operate 75 Vande Bharat trains.

Vande Bharat Express runs on a maximum speed of 160 kmph. All coaches in the train have comfortable seats, automatic doors, GPS-based audio-visual passenger information system, and onboard hotspot Wi-Fi.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

L&T construction wins a “large” order in the Mumbai-Ahmedabad bullet train project

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”Larsen” isinid=”INE018A01030″ bseid=”500510″ nseid=”LT” sector=”Infrastructure – General” exchange=”nse”]

The construction arm of EPC behemoth L&T, L&T Construction, on Monday, bagged a large order in the Mumbai-Ahmedabad bullet train project.

The Buildings & Factories Business of the country’s largest construction company has received an order from the National High-Speed Rail Corporation (NHSRCL) for constructing the Sabarmati Depot (MAHSR – D-2) in Gujarat for the Mumbai-Ahmedabad High-Speed Rail project (MAHSR).

As per the company’s project classification, the size of a significant order lies from Rs 1,000 to 2,500 crore in value, while a large order spans from Rs 2,500 to 5,000 crore in value.

As per the guidelines of the project, L&T Construction will be involved in the design, supply, construction, testing, and commissioning of the depot. The depot will be constructed on a total land area of almost 82 hectares. Once completed, the Sabarmati Depot will be the biggest such depot in the country.

This project is being led by the Japanese corporate group, Sojitz Corporation.

Also Read: Capex growth in India, Middle East to boost Larsen and Toubro’s prospects, says Citi

The company’s construction arm has already been assigned with the task of executing civil viaduct and station packages C4, C5, and C6, along with special steel bridges packages P4(X) and P4(Y) as well as Ballastless Trackworks or Package No T3 for the same bullet train project.

Shares of Larsen & Toubro ended 0.15 percent higher at Rs 2,088.60 on Monday.

Also Read: L&T to construct Executive Enclave housing new PMO, cabinet secretariat in 2 years

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

These two cement companies have commissioned new capacities

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”UltraTechCement” isinid=”INE481G01011″ bseid=”532538″ nseid=”ULTRACEMCO” sector=”Cement – Major” exchange=”nse”]

In a development that signals the revival of cement demand in India, two of the country’s leading cement companies UltraTech Cement Ltd. and JK Cement Ltd. have announced the expansion of their manufacturing capacities.

UltraTech Cement on Friday announced that the company has commissioned clinker/cement grinding capacities of 1.8 million tonnes each at two of its manufacturing units, namely Dhule Grinding Unit, Maharashtra, and Dhar Cement Works, Madhya Pradesh.

UltraTech Cement added that its total cement manufacturing capacity in India now stands at 119.45 MTPA.

Also Read: UltraTech Cement margin to shrink due to spike in power-fuel cost

Separately, JK Cement Ltd. announced on Saturday that the company has commenced clinker production at Panna, Madhya Pradesh, with an installed capacity of 2.64 million tonnes per annum.

Also Read: JK Cement begins cement-grinding operations at Hamirpur unit

After the announcement, shares of both UltraTech Cement and JK Cement were trading in the red on Monday.

Both the stocks have posted a muted performance on bourses over the past year, falling 2-4 percent during the period compared to a 7 percent rise in the benchmark Sensex index.

Shares of UltraTech Cement are trading at Rs 7,172.45, down 0.89 percent, while shares of JK Cement are trading at Rs 3,168.50, down 2.10 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Dilip Buildcon shares gain after winning Rs 702 crore Gujarat Metro rail project

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”Dilip Buildcon” isinid=”INE917M01012″ bseid=”540047″ nseid=”DBL” sector=”Construction & Contracting – Civil” exchange=”nse”]

Construction and infrastructure development company Dilip Buildcon Ltd. (DBL) has signed a contract agreement with the Gujarat Metro Rail Corporation (GMRC) for a Surat Metro Rail project worth Rs 702 crore.

The company will build an 8.702 km long elevated viaduct and seven stations from Majura Gate to Saroli Dead End of corridor 2 under the Surat Metro Rail Project Phase-1. The project period is 26 months.

In the last quarter, the company also won another EPC project worth Rs 1,400 crore for the construction of the Gandhinagar-2 Multi-Village Water Supply Scheme and an EPC project worth Rs 723.5 crore for the construction of the Ahmedabad Metro rail.

Also Read: Dilip Buildcon sells remaining 51% stake in DBL Sangli Borgaon Highways

Its revenue from operations increased to Rs 2,595 crore from Rs 2,218 crore in the year-ago quarter.

DBL registered a profit of Rs 64.2 crore against a loss of Rs 19.3 crore in the year-ago quarter on account of better EBITDA margin, lower finance costs, and profit on account of divestment of a 51 percent in two hybrid annuity mode (HAM) projects.

The EBITDA increased by 15 percent mainly due to a decrease in fuel costs and fixed overheads. The finance cost during the quarter decreased by 24 percent on account of a reduction in outstanding debentures, standalone and lower utilisation of working capital facilities, and a reduction in mobilisation advances.

Shares of Dilip Buildcon Ltd. are trading at Rs 243.50, up 2.27 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

PM Modi to inaugurate Mumbai-Nagpur Samruddhi Expressway on Dec 11

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Prime Minister Narendra Modi will inaugurate the Mumbai-Nagpur Samruddhi Expressway in Nagpur on December 11, Maharashtra deputy chief minister Devendra Fadnavis said on Saturday.

The prime minister will inaugurate the completed stretch from Nagpur to Shirdi, while the remaining stretch of the expressway will be finished in the next six months, he said.

The ‘Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg’ is a six-lane access-controlled highway. It is the second expressway in the state after Mumbai-Pune Expressway.

Also Read: Exclusive | India to roll out full-fledged Digi Yatra programme from December 1

“It is a matter of joy and pride for us that PM Narendra Modi will be inaugurating the Nagpur-Mumbai Samruddhi Expressway. He will inaugurate the 500-km stretch from Nagpur to Shirdi, which has been completed, and the remaining stretch will be completed in six months,” the deputy chief minister said.

A new economic corridor will come up on the expressway route, and 14 districts will be integrated and connected to the port through this expressway, he said.

“I feel that this expressway will bring ‘samruddhi’ (prosperity) to Vidarbha, Marathwada and the entire Maharashtra,” Fadnavis added.

The 701-km long expressway, built at the cost of Rs 49,250 crore, passes through 392 villages spread over 11 districts.

Also Read: India to surpass Japan and Germany to become the third largest economy by 2030: Report

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Govt waives ISTS charges for new hydropower projects in green energy push

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

In a big boost for renewable energy sources, the Union Power Ministry on Friday, December 2, issued an order for the waiver of inter-state transmission system (ISTS) charges on the transmission of electricity generated from new hydropower projects. The move is to realise the India  government’s commitment to achieve its power requirement from renewable energy sources. The said waiver is already available to solar and wind power projects.

The Narendra Modi government has set an ambitious plan to have 500 GW of generation capacity from non-fossil energy-based sources by 2030.

Hydropower projects, being clean, green, and sustainable will be of paramount importance in the country’s clean energy transition journey.

Back in March 2019, the government declared hydropower projects as renewable sources of power. However, the waiver of inter-state transmission charges, provided to solar and wind projects, had not been extended to these projects.

Also Read: Here are the Indian companies which have been impacted by protests in China

In order to remove this discrepancy and to provide a level playing field to hydro projects, the Ministry of Power will extend the waiver of ISTS charges on the transmission of power from new hydropower projects, for which construction work is awarded and PPA is signed on or before June 30, 2025.

The waiver shall be applicable for a period of 18 years from the date of commissioning of the hydropower plants. The waiver shall be allowed for inter-state transmission charges only, and not cover the losses. The waiver would be made applicable from the prospective date.

Also Read: PSU oil companies to seek fiscal relief of over Rs 22,000 crore for petrol and diesel losses

This step is expected to provide a boost to the hydro sector, which will also help improve India’s water security and bring development benefits to the hill states, namely the North Eastern states, Uttarakhand, Jammu and Kashmir, Himachal Pradesh, etc. where most of the hydro potential is located.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NCC receives new orders worth Rs 376 crore from State governments

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”NCC” isinid=”INE868B01028″ bseid=”500294″ nseid=”NCC” sector=”Construction & Contracting – Civil” exchange=”nse”]

Infrastructure and building construction major NCC Ltd. received two new orders worth Rs 376 crore for the month of November from state governments.

Out of these two orders, one order valued at Rs 321 crore pertains to electrical division, and the second order worth Rs 55 crore belongs to the roads division.

In early November, NCC Ltd. received orders worth over Rs 1,056 crore related to water and environment division from state agencies.

NCC group is engaged in the construction business and focuses on urban infrastructure, road construction, and township projects through its two subsidiaries— NCC Urban and NCC Infra. The company develops SEZs and builds schools, hospitals, roads, bridges, houses, offices, and commercial spaces.

Riding on new order wins and good financial results in the September quarter, shares of NCC Ltd. have gained over 11 percent in the past month. The stock had a fresh 52-week high of Rs 84.60 on November 29.

The shares of the Hyderabad-headquartered company are under the radar due to its recent gains and the stock has also surged over 28 percent in the last six-month period. Rekha Jhunjhunwala, the wife of late ace investor Rakesh Jhunjhunwala, holds over 12 percent stake in the company.

 In the September quarter, NCC’s net sales increased to Rs 33,73.43 crore as against Rs 2,581.37 crore in the same period a year ago. The company’s net profit stood at Rs 137.54 crore.

Shares of NCC ended at Rs 79.90, down 3.44 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Likhitha Infra shares extend gains after Ashish Kacholia buys stake

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”Likhitha” isinid=”INE060901019″ bseid=”543240″ nseid=”LIKHITHA” sector=”Infrastructure” exchange=”nse”]

Likhitha Infrastructure Ltd.’s shares rallied for a second day rising nearly 5 percent in early trade on Thursday to hit a new 52-week high.

In its previous session on Wednesday, the Likhitha Infra stock surged almost 16 percent after renowned investor Ashish Kacholia acquired 3.97 lakh shares of the company, translating into 2 percent of its shareholding. According to the bulk deals data on the National Stock Exchange (NSE), the shares were bought at an average price of Rs 386 per unit.

Continuing the momentum on Thursday, the stock jumped another 4.9 percent to trade at a new 52-week high of Rs 494.15. The stock counter also saw a spurt in trading volumes, with the number of shares changing hands on the BSE jumping by more than 3.1 times in the morning itself.

Notably, the Likhitha Infrastructure stock has proven to be a multibagger for investors, climbing nearly 26 percent in the last month, 70 percent in the last six months, and a whopping 250 percent since its listing in October 2020.

The company was in the news recently as its board announced a stock split in the ratio of 1:2, with the record date for the same being December 2, 2022.

Likhitha Infrastructure is engaged in the business of laying pipelines — providing comprehensive erection, testing, and commissioning of oil and gas pipelines, city gas distribution projects, and operation and maintenance services.

Shares of Likhitha Infrastructure are trading at Rs 481.80, up 2.57 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Gateway Distriparks to commence container train services at ICD Kashipur

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

[wealthdesk shortname=”Gateway Distri” isinid=”INE079J01017″ bseid=”543489″ nseid=”GATEWAY” sector=”Miscellaneous” exchange=”nse”]

Gateway Distriparks has announced that it will be starting container train services at rail-connected inland container depot (ICD) Kashipur in Uttarakhand. The company has stated that it will be starting EXIM and domestic container train services from December 4.

Gateway Distriparks already operates a fleet of 31 rakes and the company plans to run services between ICD Kashipur and the ports of Mundra, Pipavav, and Jawaharlal Nehru Port Trust in Navi Mumbai.

Gateway Distriparks on Wednesday said that it will be starting container train services ahead of the acquisition of ICD Kashipur by the company from existing container train operator Kashipur Infrastructure and Freight Terminal Private Limited (KIFTPL).

The complete share purchase agreement between GDL and KIFTL is expected to complete by the end of the year. GDL had acquired a 99.92 percent stake in KIFTPL for Rs 156 crore in a share purchase agreement (SPA).

GDL reported revenue of Rs 359 crore in the September quarter compared to Rs 665 crore in the year-ago period. The company’s profit stood at Rs 59.06 crore from Rs 90.51 crore in the year-ago quarter.

The company’s shares were trading at Rs 67.35, down 1.03 percent, BSE in the pre-close session on Wednesday.

Shares of Gateway Distriparks ended at Rs 67.30, down 1.17 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow