IRB Infrastructure Developers Limited recorded a net profit of Rs 46.76 crore for the three month period ended March 31, 2010 as against Rs 49.55 crore in the same quarter ended March 31, 2009.
Total income during the Jan-Mar period decreased to Rs 53.41 crore as against Rs 54.55 crore during the year-ago period.
For the financial year ended March 31, 2010, IRB Infra registered a net profit of Rs 55.84 crore as against Rs 57.35 crore in 2009.
The total income has increased to Rs 76.69 crore from Rs 71.14 crore in the last year.
Infrastructure company, Hindustan Construction Company (HCC) said on Friday that it has seen a profit figure of Rs. 42.97 crore for the fourth quarter ending March 31, 2010. The figure has dropped significantly as compared to the same during last fiscal when it was Rs. 51.36 crore.
HCC is into the business of engineering and construction and came to limelight because of its work in the Bandra-Worli Sea Link in Mumbai.
In its filing, the company said that the adoption of new accounting standards was the reason behind this fall. And so, the figures for the current year should not be compared to the same for last year.
The leading infrastructure company of the country, the Jaypee Group of Industries has informed that it will invest Rs. 70,000 crore to build the ambitious 1,047 km long Noida-Ballia Ganga Expressway project. The project is expected to be completed by next five years. The company has also informed that ongoing Yamuna Expressway project is going to be completed in next two years of time.
That means the project will be finished ahead of scheduled time by March 2011. This has been informed by the Group Chairperson Mr. J. P. Gaur. Gaur was addressing to the media.
Keeping in mind that infrastructure is one area where India still lags behind as compared to the developed and even some developing nations, it opens up a wide opportunity for the investors to grab in the market. Experts are of a view that the Mutual funds that are investing money in infrastructure projects certainly offer a promising return in the long rather than other options available in the market.
Technical analyst MB Singh is bullish on IRB Infrastructure Developers Ltd and maintained 'hold' rating on the stock to achieve a short term above Rs 310.
According to him, the interested investors can buy the stock with a stop loss of Rs 265.
Today, the shares of the company opened at Rs 285 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 297.10 and a low of Rs 97 on BSE.
Indian infrastructure is going good and the economic recovery is adding fire to the fuel. At least that is what one can make out from the fact that the infrastructure industries showed positive growth rate of 7.2 per cent during the month of March.
This growth was further boosted by the fact that the overall industrial sector in India has also shown robust increase during the last few months.
Jaypee Infratech has high hopes from its upcoming public offer. The company is going to tap the capital market on April 29, with the opening of its IPO.
It will end on May 4. The price band of the share is in between Rs. 102 and Rs. 111 per share. Besides this, the shares will be given at 5 per cent discount in case a retail investor buys it.
Through the IPO, the infrastructure development firm wants to raise close to Rs. 2,350 crore or $530 million.
Technical analyst Kunal Sarogi is of the view that investors can buy Reliance Infrastructure stock to achieve a short-term target of Rs 1190.
According to him, investors can purchase the stock with a strict stop loss of Rs 1127.
Today, the stock of the company opened at Rs 1138 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1404.45 and a low of Rs 672 on BSE.
Current EPS & P/E ratio stood at 53.74 and 21.41 respectively.
According to sources the India's GMR Infrastructure has raised $315 million from share sale. GMR is the leading infra company which builds and manages airports, roads and power plants in various countries like Europe, Mexico and Australia including India. It has been informed that the company has sold its shares to foreign investors. The foreign investors have bought 88% of the offering of the company.
The Bangalore based infrastructure company has raised the offering size from an initial offer of $250 million. Initially it was planned to keep this price as offering.
PBA Infrastructure is expecting to touch Rs 2000 crore from orders in coming six months. The company is having orders of around Rs 900 crore currently. It is expected that it may go up to Rs. 2000 crore in nest two quarters. This has been informed by Ramlal Wadhwan, CMD of PBA Infrastructure while he was being interviewed by CNBC-TV18.
Indian infrastructure company, GMR Infrastructure is going to receive as much as $200 million as investment from Singapore's Temasek Holdings.
The agreement was reached on Friday and the Singaporean state investor is going to put this money into the power business of GMR. With this, it will expand its generation capacity as well.
Temasek has taken this decision looking at the huge potential and relatively very less competition in the Indian power sector.
Crisil Ratings on Wednesday said that the next growth will come in the filed of finance and infrastructure sector during this fiscal. Power will also hold an important position.
It also said that the worst is over for the economy and the future holds huge potential.
SKIL Infrastructure is planning to raise nothing less than Rs. 1,500 crore through the initial public offering (IPO) route. The IPO is expected to come up in October this year. This information was given by a top official of the company, on Wednesday.
The company is going to file its draft red herring prospectus (DRHP) within next two-three months.
A part of Shapoorji Pallonji Group, Afcons Mid-East LLC has completed its ad Al Sheba Race Course connectivity very much ahead of the planned schedule for the World cup horse racing event. In fact, the milestone becomes all the more cheerful as it comes amidst the Dubai economy is still striving very hard to get out of the real estate crisis situation.
If the latest news report is to be believed then Punj Lloyd, the engineering and construction giant, is looking forward to sell its stake in Pipavav Shipyard. It would be doing so to the co-founder of the shipping-related company, SKIL Infrastructure.
It would be selling as much as 19 per cent of its stake. This step has been taken since Punj Lloyd needs cash and the company is following the asset-sale method.
The report was first released by a private business newspaper, Economic Times, on Saturday.
India is looking forward to build partnerships with China for building its infrastructure. It is seeking help for the road and high-speed rail projects, said the Minister for Road Transport and Highways, Kamal Nath, on Monday.
He said that India would like to foster such partnerships and there is a good opportunity lying unused in this sector. Kamal Nath was speaking to the press during a conference organized by Credit Suisse in Hong Kong.
Oakajee Port & Rail Pty, a joint venture between Australian iron ore producer Murchison Metals Ltd. and Mitsubishi Corp. of Japan, said today that the company is planning to increase its proposed capacity by 29% in the first stage.
Oakajee is all set to develop a terminal project to export iron ore from Western Australia. The proposed project would cost Oakajee around $A4 billion. Oakajee took the decision to expand its capacity to meet the rising demand of from regional iron ore miners.
Mumbai-based, Concurrent India Infrastructure Ltd. said on Friday that it is going to buy majority stake in Kazi Aviation & Travel Services.
It did not disclose the amount which is going to be involved, if and when the deal takes place. The details of the plans were given in a filing done by Concurrent to the BSE.
Both the companies are related to the field of infrastructure. While Concurrent deals in the business of construction, power and engineering; Kazi deals with the aviation sector. The Chennai-based company does ground handling, maintenance and repairing of aircrafts.
This is not the first deal that is happening in this area this year. Earlier, two deals between big companies have already taken place.
The joint venture between Leighton Holdings's Asia unit and Macmahon Holdings, has won a contract worth $463 million.
The company has to build tunnels and ventilation buildings for the Hong Kong Express rail link. It would cover the Tse Uk Tsuen to Shek Yam section of the Guangzhou - Shenzhen - Hong Kong Express Rail Link (XRL).
The contract is for the construction of link which would be 7.6 kms. twin-track tunnel and the ventilation buildings will be made with 90-meter deep shaft.
Work on the project will start very soon and should get over by 2015.
IL&FS Transportation is the latest one to have joined the race for public listing. And through this, the infrastructure company plans to raise Rs. 700 crore.
The price band of the IPO is expected to be in between Rs. 242 and Rs. 258 per share. It would be floating 14 per cent of its stake through the listing.
The IPO will be open for subscription from March 11 and will go on till March 15.
It has already filed its red-herring prospectus with the Registrar of Companies on March 4.
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