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See whats happening in Infrastructure sector right now
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Adani firm APSEZ planing port development in Philippines
APSEZ plans a deep port in Bataan, Philippines with President Marcos' support. Investment focus includes ports, airports, power, and defence. Starting regionally, aiming for agricultural product ports, and enhancing gateways for tourism and business.
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Six Adani firms get SEBI show cause notice
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India's Adani Enterprises' Q4 profit falls 38% as roads business weighs
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Next round of airport privatisation expected after elections: Adani Enterprises
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Adani Enterprises seeks to increase non-aero revenue share from airports to 75%
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Air India's Airbus A350 marks International debut
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APSEZ handles 36.2 MMT cargo globally in April
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IndiGo gets tax demand related to input tax credit
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RailTel signs MoU with tech firm for KAVACH implementation projects in India, abroad
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We have returned to profitability: Vinayak Pai, MD & CEO Tata Projects
"I feel proud to announce that we have returned to profitability, and we are moving forward on our path to deliver predictable and sustainable projects through innovation and technology," Vinayak Pai, MD & CEO at Tata Projects said.
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Govt mulls survey to estimate cost of logistics incurred by businesses
Government plans a survey with NCAER to estimate logistics costs accurately for businesses. DPIIT aims to improve World Bank Logistics Performance Index. The survey will provide insights into transportation costs and administrative bottlenecks.
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Locomotive of Jammu-bound train detaches from coaches in Punjab
The locomotive returned, coaches were attached and the train left for its onward journey, the officials said. Divisional Railway Manager, Northern Railway, Naveen Kumar said the incident would be investigated.
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Indian EV startup makes offer to interns spurned by Elon Musk
Pravaig Dynamics offers support to Tesla interns after Elon Musk's cost-cutting, inviting them to the Silicon Valley of India to recognize their talents amid concerns about job cuts and logistical challenges.
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Navy performed 'miracle': Rajnath on its operations to assist merchant ships in strategic sea lanes
The Indian Navy has performed a "miracle" (karishma), Defence Minister Rajnath Singh has said, heaping wholehearted praise for the force's numerous operations in foreign waters where it assisted several merchant ships commandeered or threatened by pirates.
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Plane-less Go First's situation 'painful'; muted hopes for a tailwind
Last May, it all started with flight suspension for just three days and "an unfortunate decision" of voluntary insolvency resolution option taken to protect the airline's interests. A year down the lane, the now plane-less Go First's fate remains uncertain and come June, there are revival expectations, though muted, when the extended deadline for the resolution process ends.
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Jazeera Airways cuts net loss, reports break-even in operations
In other developments, Jazeera Airways welcomed Barathan Pasupathi (Bara) as its new Chief Executive Officer during 1Q 2024, bringing extensive experience in aviation and finance.
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Second phase of redevelopment of Prayagraj junction begins
Prayagraj Junction's redevelopment focuses on heritage preservation and development by closing platforms for construction. The project includes relocating trains, modern facilities, and a high budget allocation for airport-like amenities, aiming for completion by 2026.
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Varkala Sivagiri railway station redevelopment works begin
Varkala Sivagiri railway station's redevelopment under the Amrit Bharat Station scheme, managed by KRDCL and RVNL, includes modernization at a cost of Rs 123.36 crore over 30 months. Thiruvananthapuram Central Railway Station is also being upgraded.
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UPSIDA revenue hits record Rs 1,359 cr in FY'24
Uttar Pradesh State Industrial Development Authority (UPSIDA) recorded its highest operating revenue of Rs 1,359 crore in the 2023-24 financial year, marking a doubling of revenue compared to 2018-19.
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States should support decarbonisation of aluminium industries : Study
State governments should also prioritise giving right of way to the industry for setting up their own evacuation infrastructure for transmission of renewable power, the study said.
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Delhi court transfers proceedings in Bhushan Steel PMLA case after allegations of bias
A Delhi court has transferred proceedings in the Bhushan Steel money laundering case from one judge to another after allegations of bias was made by one of the accused.
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Northern Railways cancels 69 trains, diverts 107 due to farmers' protest in Shambhu
Northern Railway canceled 69 trains, diverted 107, and changed 12 train routes due to farmers' agitation at Sambhu station. Major trains impacted include Delhi Sarai Rohilla AC Superfast Express and Jammu Mail.
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Supreme Court order a relief, but Unitech buyers worried about funds
Supreme Court's order spurs Unitech's projects for 6,000 Noida homebuyers. Funding concerns arise as construction begins. Buyer skepticism remains on project completion despite Noida Authority's approval by May 31.
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RBI tightens norms for loans to projects like roads & ports
The new norms require lenders to set aside 5% of the money they have lent as general provisions for all existing and new loans. Currently, banks have to provide only 0.4% of the loan amount for exposures that are not in default.
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India Ratings maintains neutral outlook on construction sector for FY25
Ind-Ra expects EPC players to post a healthy performance in FY25, albeit with a moderation in the revenue growth rate, accompanied with a modest uptick in operating margins while maintaining adequate liquidity buffers.
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"Connectivity to get fully restored in four days," says Tripura Transport Minister
Tripura Transport and Civil Supplies Minister Sushanta Choudhary on Friday assured that the rail and road connectivity will be restored in four days.
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India's JSW Infrastructure Q4 profit rises on higher cargo volumes
JSW Infrastructure, India's No.2 private port operator by market capitalisation, reported a near 10% increase in fourth-quarter profit on Friday, boosted by higher cargo volumes.
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Air India to start direct Delhi-Zurich flights from June 16
The four times a week services will be operated by a Boeing 787 aircraft with a two-class configuration -- Economy and Business. The flights will be on Mondays, Wednesdays, Fridays and Sundays, according to a release on Friday.