Larsen & Toubro have gained the upper hand in landing the Hyderabad Metro Project after they emerged as the lowest bidder for the multi-crore project. Larsen & Toubro have come forward to help finish the Metro Project for Rs. 12,132 crore, after the state government decided to pull the plug on the deal with Maytas Infra of B Ramalinga, former chairman of Satyam Computers.
According to the finance ministry, any of the infrastructure finance group can deal out maximum of 25 percent of its inclining investment as tax-free infra bonds during a year.
As per a senior finance ministry official, the quantity of issuing of the same during this financial year shall be limited to a 25 percent of the incremental infrastructure reserves crafted by the subject throughout the fiscal year 2009-10.
This defines that if an infrastructure finance company if puts its Rs 70 crore in an infrastructure in FY09 and Rs 100 crore in FY10, then it may deliver bonds only value 25 percent of Rs 30 crore in FY11. If the same invest less or equivalent, then in that case no bonds can be issued.
The Infrastructure Development Finance Company (IDFC) declared on Thursday that it will accumulate Rs. 840 crore by issuing shares to Actis and Khazanah, which are a private equity and a Malaysian sovereign wealth fund respectively. The board had allowed Rs 3,500 crore being raised previous month, as a long term fund for financing its development plans. Rs 2,654 crore has already been raised.
The approval of the shareholders was achieved by IDFC via a postal ballot to obtain Rs 840 crore worth funds through convertible preference shares (CCPS).
Infrastructure major Hindustan construction company (HCC) announced that it has pocketed an engineering, procurement and construction contract (EPC) valued at Rs 431 crore from Himachal Pradesh Power Corporation (HPPCL).
The 100 MW Sainj hydroelectric project, about 52 Km from Kullu, is to be finished within 48 months.
Mr. Vinayak Deshpande, president and chief operating officer of HCC stated, "The contracts demonstrate HCC's EPC expertise in the hydel power development sector."
The shares of Maytas Infra today hit a 52-week high on news that the infrastructure major is selling 20% equity stake to the Saudi Binladin Group (SBG) through a preferential allotment of shares.
In a regulatory filing, Maytas said, "The company proposes to issue and allot to SBG Projects Investments Ltd. (a member of the Saudi Binladin Group) 15,459,133 equity shares, representing 20 percent of the post-issue paid up equity share capital of the company."
A landmark report is expected to swirl from the Infrastructure Australia on urban water early this week, which shall include the agenda of tapping billions of dollars' investment required to bring inclination in the water infrastructure to gel with the rapid growth of population and changing climatic conditions.
According to the advisory body the previously raised concerns regarding water pricing in many of the states is not independent and the government intervention on the pricing regulation matters is required in the projects at the moment.
Infrastructure Company, Hindustan Construction Company (HCC) said on Friday that it is going to sell 74 per cent of its stake to IL&FS through its subsidiary.
HCC Real Estate will be selling the equity share in its 247 Park to IL&FS Milestone Fund.
The total value of the deal is expected to be Rs. 775 crore in which the total debt component is going to be Rs. 380 crore. And as per the latest news, HCC will be getting Rs. 292 crore in form of cash while the remaining amount will be in other forms.
On Tuesday, HCC Infrastructure (HIL) said that it has signed a Memorandum of Understanding (MoU) with another construction company. The name of this is Orascom Construction Industries (OCI).
The two have come together to be able to bid together for a road development project that is to be done under NHAI. NHAI is the top government body when it comes to developing infrastructure projects in form of roads and highways.
Technical Analyst Ashwani Gujral has maintained 'hold' rating on IVRCL Infrastructures & Projects Ltd stock with short term target.
According to analyst, the interested investors can exit near Rs 185.
Today, the shares of the company opened at Rs 164.80 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 212.40 and a low of Rs 144.50 on BSE. Current EPS and P/E ratio of the stock stood at 8.05 and 21.01 respectively.
Stock market analyst Pradeep Surekha has maintained 'hold' rating on JP Associated Ltd stock with stop loss of Rs 114.
According to Mr. Surekha, the investors can purchase the stock on declines.
Today, the stock of the company opened at Rs 188.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 180.09 and a low of Rs 112 on BSE.
Current EPS & P/E ratio stood at 4.03 and 29.49 respectively.
Jaiprakash Associates Limited (JAL) has declared a net profit for fiscal ended March 2010 due to higher revenue, whereas its total income grew by 72.52%.
The company's board announced a final dividend of Rs 0.54 per equity share of Rs 2 each for the financial year ended March 10 plus the interim Dividend of Re 0.54 per equity share of Rs 2 each paid in November 2010.
During the year ended March 2010, JAL recorded total revenues of Rs 10316.04 crore as against Rs 5979.52 crore in March 2009.
Leading infrastructure firm of the country, Jaiprakash Associates has declared its annual financial results for the fiscal year 2009-10 and it has managed to post an impressive rise in net profit figure. The company has posted a consolidated net profit of Rs 1,119.18 crore for the year that ended in 31st March, 2010.
The consolidated net profit was reported to be Rs 420.25 crore in the financial year 2008-09. This net profit figure has grown up by a mammoth 166% in this quarter as compared to the same quarter in the last fiscal.
Nagarjuna Construction Company has declared that its fourth quarter net profit has gone up to three-folds. It has announced its financial results for the fiscal year 2009-10 and it has managed to post an impressive rise in net profit figure.
The company has posted a consolidated net profit of Rs 102.61 crore for the quarter that ended in 31st March, 2010. This net profit figure has grown up by three times in this quarter as compared to the same quarter in the last fiscal. This has been informed by the firm in a filing at the Bombay Stock Exchange.
Stock market analyst Anil Singhvi is of the view that investors can buy MSK Projects (India) Ltd stock to achieve an intra-day target of Rs 177.
According to analyst, the investors can sell the stock with a stoploss of Rs 162.
The shares of the bank, on May 25, closed at Rs 165.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 200.70 and a low of Rs 62 on BSE.
MSK Projects (India) Limited, an India-based company, has accomplished various projects in road and industrial construction.
Infrastructure and power subsidiary of GMR Group, GMR Infrastructure Ltd. has got approval from its board of directors to raise Rs. 5,000 crore. This will be done in form of equity.
Surprisingly, the approval comes just two months after the Singaporean investment firm, Temasek Holdings put in $200 million in the company. Before that, the company was able to raise $315 million by selling its shares to various institutions.
Technical Analyst Rajesh Agarwal of CD Equisearch has maintained 'buy' rating on 'Jaypee Infratech' stock with view to holding it for 18-24 months.
According to Mr. Agarwal, the investors can surely reap good returns from the stock in the said period.
Today, the stock opened at Rs 93 on the Bombay Stock Exchange (BSE).
Today, the equity shares of the company listed on the Bombay Stock Exchange (BSE) with a discount of 9% over its issue price of Rs 93.
Technical Analyst Nikita Surekha has maintained 'buy' rating on IVRCL Infrastructure & Projects Ltd stock to achieve an intraday target between Rs 161-162.
According to Surekha, interested traders can purchase the stock with a stop loss of Rs 150.
The shares of the company, on May 19, closed at Rs 155.35 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 212.40 and a low of Rs 115 on BSE.
Current EPS & P/E ratio stood at 7.85 and 20.31 respectively.
Leighton Holdings Ltd., an Australian construction and energy giant, announced today that its net profit grew 82% for past nine months ended March 31 despite a slight fall in revenue for the period.
Leighton also said today that it has decided to maintain its previous earnings guidance for the full year.
The company said that the increase in net profit for the first nine months of the fiscal was mainly attributable to the strong and solid turnovers in mining and infrastructure business.
Reliance Infrastructure has announced its fourth quarter financial results for the fiscal year 2009-10 and the net profit has been gone down for the quarter. Anil Dhirubhai Ambani Group (ADAG) group company Reliance Infrastructure has declared that the net profit of the company has declined by 27.5% for the quarter reviewed.
It has posted a net profit of Rs 251.1 crore for the quarter that ended in 31st March, 2010. This net profit figure was at Rs 251.1 crore for the same quarter in the preceding year.
Supreme Infrastructure India Ltd has registered a strong growth in revenues and profit after tax for the three month period ended, March 31, 2010.
The most versatile infrastructure company said that its revenue during the quarter increased by 19.51% to Rs 1.74 billion from Rs 1.46 billion during the corresponding period of 2009.
During the period under review, the profit after tax (PAT) surged 89.91% to Rs 110.2 million as compared to Rs 58 million in the same period of the last fiscal.