Anil Ambani-led Reliance Infrastructure is looking at several road and construction projects, which are under various stages of development in the country, in order to boost its portfolio.
RInfra is holding discussions with several players who are unable to execute projects they started due to lack of funds of other constrains, for taking over the project. Lalit Jalan, chief executive officer, RInfra has said that the company is looking to acquire secondary assets, mainly in the build-own-operate (BOT) space.
KRChoksey has suggested buy call for IRB Infrastructure with a target price of Rs 188. In a research report released on 10 May, 2012, KRChoksey has suggested lower price target of Rs 188 compared to earlier target of Rs 221.
IRB Infrastructure Developers stock is currently trading at Rs 112. The stock recovered from today's low of Rs 104 to end the day at Rs 112. IRB Infrastructure Developers has touched a 52-week low of Rs 100. With a market capital of Rs 3735 crore and P/E ratio of 22.5, the stock is little expensive compared to peers in infrastructure sector.
Ramky Infrastructure Ltd has pocketed deals valued at Rs 1,248.95 crore covering roads, irrigation and construction sections.
In a declaration to the BSE, the Hyderabad-based infrastructure giant stated that these deals have been bagged from various states comprising from Arunachal Pradesh, Bihar and Chandigarh.
In the state of Bihar, Ramky Infra has bagged a civil construction deal valued at Rs 109 crore from NTPC for its Barh power project.
The country requites to lift up infrastructure spending to about 10% of gross domestic product to attain and maintain economic development objective of 9% in the coming years.
In a presentation at the annual meeting of Asian Development Bank, IDFC Projects Ltd Managing Director Pradeep Singh stated, "In order to sustain growth targets, this (investment in infrastructure) would need to increase further to over 10 per cent of GDP by 2017."
Mumbai, Feb 14 - Infrastructure major Lanco Infratech Ltd Tuesday posted 66.83 percent decline in net profit at Rs. 183 crore for the quarter ended Dec 31 against Rs. 551.75 during the like period of the previous financial year.
Total income stood at Rs. 3,053.68 crore during the quarter under review, up 76.4 percent compared to Rs. 1,731.33 crore during the year ago period, the company said in a regulatory filing.
Private infrastructure firm, Pratibha Industries ha said on Monday that it has bagged orders worth Rs 772 crore in the building and water management segments from various companies.
"With these, the balance order book of the company stands at Rs 6,568 crore as on December 30, 2011, while total orders bagged in the current financial year to date are worth Rs 3,350 crore," the company said in a statement.
According to India’s union finance minister Pranab Mukherjee, the Indian government might face a shortfall of $300 billion in funding requirements for the infrastructure sector during the 12th five year plan.
Mukherjee added that the financial institution in the country will have to make additional efforts to bridge the gap in funding for the sector.
India’s leading construction company, Larsen and Toubro is aiming to generate more revenues from abroad in order to compensate for a slowdown in the Indian economy, according to the firm's chief financial officer, R. Shankar Raman.
The company had earlier reduced its order growth guidance for the current financial year due to concerns over project deferrals and low investor appetite, due to high interest rates in India. The company is now planning to increase its revenue share from overseas projects to 15-20% from 10-12%, according to Mr. Raman.
Kolkata, Aug 9 - TIL Limited, a leading provider of a wide range of construction, mining and power systems based here, will invest Rs. 700 crore in its Kharagpur factory to make mining equipment and cranes with American and Japanese technology.
"The first phase of the plant, for which Rs. 250 crore is being invested, will conclude by October-November. Alreadyn Rs. 90 crore has been invested," Aloke Banerjee, president and chief financial officer of what was earlier called Tractors India, told IANS.
Eight core infrastructure industries including steel and electricity, posted a 5.2% growth for quarter ended June 30 against 4.4% growth Q1 -2010.
Electricity registered a growth of 8.2% when compared with 3.8% growth of 2010-Q1, Oil posted 12.5% growth for Q1 when compared with 4.3% growth of same period, a year ago. The data released by Ministry Of Commerce and Industry stated that natural gas contracted by 11.7%, coal's production fell by 3.3% and fertilizers went down by 2.4% Crude Oil production slid down by 2% from previous month to 7.7% this month from 9.7 % in May.
New Delhi, June 21 : Infrastructure firm Lanco Infratech Limited (LITL) Tuesday said it has bagged an order worth Rs. 365.28 crore ($81.33 million) for a power plant in Iraq, its first international engineering, procurement and construction order.
The scope of the work includes complete engineering, procurement and construction of an open cycle gas-based thermal power plant with two frame gas turbine generator sets supplied by General Electric International.
Mumbai, May 30 : Infrastructure firm IVRCL Limited Monday reported a 24.6 percent decrease in net profit for the fourth quarter ended March 31 at Rs. 64.25 crore against Rs. 85.25 crore during the like period of the previous fiscal.
The total income, however, rose 8.56 percent at Rs. 2,052.21 crore during the period under review against Rs. 1,890.41 crore during the same period of the previous financial year, the company said in a regulatory filing.
The company has also bagged orders worth Rs. 893.66 crore for execution of water, buildings, power and transportation works.
Mumbai, May 30 : Infrastructure firm Lanco Infratech Monday reported a 2.72 percent decrease in its consolidated net profit for the fiscal ended March 31 at Rs. 446.07 crore as against Rs. 458.55 crore during the like period of the previous fiscal.
The net operating income also tumbled 4.89 percent at Rs. 7,783.73 crore during the period under review as compared to Rs. 8,184.04 crore during the like period of the previous financial year, the company said in a regulatory filing.
Technical analyst Anu Jain has maintained 'buy' rating on Patel Engineering Limited stock with a target of Rs 206.
The analyst said that the stock can be purchased with a stop loss of Rs 185.
The stock of the company, on April 05, closed at Rs 190.90 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 500 and a low of Rs 132.50 on BSE.
Current EPS & P/E ratio stood at 16.34 and 11.73 respectively.
Mattar Al Tayer, the Chief of Dubai transport, has directed the concerned authorities for expediting the Al Sufouh tram project.
The RTA's chairman and executive director said that message has been conveyed to with contractor, the Alstom-Besix Consortium for speedy completion of the project, 30 percent of which has been completed till now.
Work on the project was started in January at a time when financial crisis grappled the region. Al Tayer said, "The RTA has agreed with the Alstom-Besix Consortium to step up the work tempo in the project, the first stage of which is set for completion in 2014."
Dubai based interior contractor Depa Ltd has announced its financial figures for the year 2010 reporting a net loss of $53.9m. Firm’s operating loss, according to a statement posted on Nasdaq Dubai, stood at AED3.8m for the year.
Mohannad Sweid, Chief Executive, termed the year 2010 as "recession year" for the firm and said that it had seen a very challenging period. He, however, projected rosy picture of the future adding that it would return to profit in the coming period. He was relying on impending infrastructure projects and hoped that the forthcoming FIFA World Cup would definitely push its growth.
Officials of the International Code Council and the Department of Municipal Affairs (DMA) held a meeting yesterday for setting up revised guidelines for the construction sector of emirates of Abu Dhabi. DMA said in a statement that the new rules discussed in the meeting are aimed to encourage professionalism throughout the sector.
Ahmad Shareef, undersecretary at the DMA said, "The ICC and DMA have been working together to formulate the new Abu Dhabi building codes and to develop the best practice standards in the building and construction industry in the emirate.”
Technical analyst MB Singh is bullish on Reliance Infrastructure Limited and has maintained 'hold' rating on the stock with a target of Rs 850.
Mr. Singh said that the stock has resistance of Rs 710.
The analyst also said that the stock can be purchased with a stop loss of Rs 570.
Today, the stock of the company opened at Rs 639.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1225 and a low of Rs 555.15 on BSE.
Current EPS & P/E ratio stood at 31.17 and 20.32 respectively.
Technical analyst Ashutosh Sarna has maintained 'buy' rating on Infrastructure Development Finance Company Limited (IDFC) stock with a target of Rs 155.
Mr. Sarna said that the investors can buy the stock with a stop loss of Rs 143.
The shares of the company, on March 23, closed at Rs 148.35 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 218.20 and a low of Rs 124.70 on BSE.
Current EPS & P/E ratio stood at 8.37 and 17.83 respectively.
Technical analyst Anil Singhvi has maintained 'buy' rating on Brandhouse Retails Limited stock with an intraday target of Rs 26.
According to analyst, the stock of the company can be bought with a stop loss of Rs 23.50.
The shares of the company, on March 22, closed at Rs 23.90 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 59.40 and a low of Rs 21 on BSE.
Brandhouse Retails has registered a marginal growth in its standalone net profit for the three month period ended December 2010.
During the period under review, the company's profit grew by 7.32% to Rs 75.51 million as compared to Rs 70.36 million during the corresponding period last year.