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Sixty next-generation trains to be introduced for Kolkata Metro in 5 years: Union Minister Ashwini Vaishnaw
Sixty new trains will join the Kolkata Metro network in the next five years. Ashwini Vaishnaw made this announcement. He also stated that railway projects in West Bengal will receive a boost. High-speed train corridors are planned to connect Siliguri to New Delhi in six hours. This aims to significantly cut travel time.
Ceigall India arm inks pact to monetise highway asset for Rs 177-cr
Ceigall India announced that its wholly owned subsidiary, Ceigall Infra Projects has entered into a definitive agreement to divest its stake in Ceigall Malout Abohar Sadhuwali Highways (CMASH) to Neo Infra Income Opportunity Fund.
Jefferies raises Titagarh Rail target price by 23%. Check upside potential and key triggers
Titagarh Rail Systems shares rose after Jefferies increased its target price. The brokerage noted a strong quarter and improving execution. Titagarh is set to benefit from government infrastructure projects. The company expects to deliver more coaches and trains in the coming years. Margins improved significantly in the March quarter. Wagon sales saw a decline but are expected to stabilize.
Adani Properties tops bids for MHADA’s Worli, Bandra cluster redevelopment
Adani Properties has emerged as the highest bidder for two major Mumbai cluster redevelopment projects, Adarsh Nagar in Worli and Bandra Reclamation. A consortium led by JSW Group's Hanura Realty secured the bid for the S.V. Nagar project in Andheri West. These projects, covering over 206 acres, await final government approval.
DevX enters Bengaluru with 1.11 lakh sq ft office leases in premium Prestige projects
Dev Accelerator's expansion into Bengaluru is set to create over 1,200 seats, boosting the company's revenue by ₹2.2 crore monthly.
Signature Global commits Rs 1,200-1,500 crore for land acquisitions in FY27
Signature Global will spend Rs 1,200-1,500 crore on land acquisitions this fiscal year. This is double its previous spending. The real estate market slowdown has made land prices more attractive. The company aims to acquire large land parcels for integrated township projects. It is also looking for land in Delhi. Signature Global expects pre-sales of Rs 10,000 crore in FY27.
Vadodara eyes India’s first public blue municipal bond issue, plans ₹200 crore fundraising
Gujarat’s Vadodara Municipal Corporation aims to raise up to ₹200 crore through a public blue bond issue for water-management projects, potentially becoming the first issuer to bring the sustainable-finance instrument to the Indian market.
Zee Entertainment shares can rally another 31%, CLSA projects after FIFA rights win
The brokerage also pointed out that Zee appears to have secured the rights at a relatively attractive valuation. According to reports cited by CLSA, the company paid less than $60 million for the package, lower than the nearly ₹450 crore spent by the former Viacom18 for the 2022 FIFA World Cup rights.
Sebi mulls allowing InvITs to add road expenses back into NDCF calculation
Market regulator Sebi on Monday proposed allowing InvITs to add payments made for major maintenance of road projects back into Net Distributable Cash Flow (NDCF) computation, capped at the amount funded by external debt. This mechanism should apply only to the 'Roads and Bridges' sector and requires strict unitholder approval. The proposal came after the Securities and Exchange Board of India (Sebi) received representation from the Bharat InvITs Association (BIA) regarding the treatment of debt availed by InvITs for incurring major maintenance expenses of road projects while calculating the NDCF. The industry association highlighted that although major maintenance (MM) expenses extend the road's life and enhance its quality, they cannot be capitalised under generally accepted accounting principles because they do not generate future economic benefits, such as extended concession periods or increased toll revenue. Since InvITs (infrastructure investment trusts) holding road projects
Avaada Group secures $950 million financing from consortium of global and domestic banks
Avaada Group has achieved financial closure for its Firm and Dispatchable Renewable Energy (FDRE) project in Bikaner, Rajasthan, calling it India’s largest financing transaction in the FDRE segment. The company has also secured debt financing for two 300 MW solar projects in Rajasthan and Gujarat, taking total debt sanctions across the three projects to nearly $950 million.
Puravankara Bengaluru housing project: Realty firm signs joint development agreement for Rs 1,100 Crore at Doddagubbi
Realty firm Puravankara Ltd has entered into an agreement with a landowner to develop a large housing project in Bengaluru. The project, spread across 11 acres, is expected to generate revenue of Rs 1,100 crore. This development signifies a significant expansion for the company in the Bengaluru real estate market. Puravankara has a substantial land bank and ongoing projects across multiple cities.
Kalpataru Projects International bags orders worth Rs 2,002 crore
Kalpataru Projects International has secured new orders valued at approximately Rs 2,002 crore. These orders span across Power Transmission & Distribution in overseas markets and Buildings & Factories in India. The company also received an order in the Railways segment. This achievement strengthens KPIL's position in high-growth markets and reinforces its footprint in the metro rail sector.