Reliance Infrastructure bags Rs 711 crore project from NHAI
Posted on 7th April 2017 |
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| Reliance Infrastructure Ltd (RInfra) today announced that it has bagged Rs 711 crore project in Tamil Nadu from the National Highways Authority of India (NHAI). “RInfra has received the Letter of Acceptance (LOA) from the NHAI for the construction of Vikkaravandi to Sethiyahopu section of NH-45 C in Tamil Nadu after it emerged as the lowest bidder for the development of the project on Engineering, Procurement & Construction (EPC) basis,” the company said in a statement. The project is part of the Centre’s flagship programme of the National Highway Development Programme (phase IV) and is funded by NHAI. The infrastructure major, one of the largest NHAI concessionaires, after quoting Rs 711 crore for the project, was declared the successful bidder. The project is to be completed within 24 months. The contract includes design and construction of the 65.96 km highway including major and minor bridges, railway over bridges, flyover, bypasses and toll plaza as major components of the project. The maintenance period for the project is four years. Other bidders included L&T, IL&FS and Punj Lloyd. RInfra EPC CEO Mr Arun Gupta said, “Our renewed thrust on engineering, procurement and construction (EPC) has already begun to show results. This project win comes after we won an EPC order for Rs 3,675 crore from NLC India Ltd for setting up two lignite-based CFBC thermal power projects of capacity 250 mw each.” The Reliance Group Company had revamped its strategy to re-focus on EPC business targeting an ambitious order book target of Rs 50,000 crore by FY’19. It has been focusing on projects in power, roads, railways, defence and ports. The company currently operates 11 road projects with total length of 1,000 kms on build, operate and transfer (BOT) basis. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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