Nitin Gadkari inaugurates NH projects of total length of 460 KM worth Rs. 8000 crore and 7 CRIF projects in Hyderabad
NEW DELHI: Union Minister for Road Transport and Highways, Nitin Gadkari inaugurated 12 National Highway Projects of total length of 460 Km worth Rs. 8000 crore and 7 CRIF Projects in Hyderabad in the august presence of Union Minister SG Kishan Reddy, MoS Gen V. K. Singh, Shri Vemula Prashanth Reddy, MPs, MLAs, MLCs and […]
Star9 Mobility Private Ltd to buy 51% stake in Pawan Hans
NEW DELHI: The government has approved selling its 51 per cent stake in helicopter services provider Pawan Hans Ltd (PHL) along with transfer of management control for Rs 211.14 crore to Star9 Mobility Private Ltd, the Finance Ministry said on Friday. PHL is a 51:49 joint venture of the government and ONGC providing helicopter and […]
Gainwell Engineering partners with World Coal Association
NEW DELHI: Gainwell Engineering, the manufacturing venture of Gainwell Commosales Private Limited (formerly Tractors India Private Limited), has partnered with World Coal Association to promote sustainable coal mining in India. With this Gainwell becomes only the second organisation in India to have partnered with World Coal Association. According to the Economic Survey 2021-22, Coal demand […]
Essar Ports Vizag Terminal handles the largest dry bulk vessel and records largest parcel in Vizag Port
NEW DELHI: Essar Ports Vizag Terminal Ltd (EVTL), the largest iron ore handling complex in India today said that it has handled the largest dry bulk vessel, and recorded the largest parcel in Vizag Port. On 20th April 2022, the M.V. Star Eleni, a bulk carrier built in 2018, sailing under the flag of Liberia […]
General insurance industry’s GDPI to grow by 10-12% in FY23: Report
NEW DELHI: General insurance industry’s gross direct premium income (GDPI) is expected to grow by 10-12 per cent in the current fiscal on account of rising awareness of medical insurance and improvement in economic activity, says a report. The GDPI of public sector (PSU) insurers is expected to grow moderately at 4-6 per cent, while […]
JSW to set up Rs 150 crore steel plant in south Kashmir’s Pulwama
NEW DELHI: JSW Steel Limited and Apollo Hospitals became the first major corporations to buy land in Jammu and Kashmir after the scrapping of Article 370 in 2019 to set up their units in the region. While JSW steel limited is all set to come up with its Rs 150 crore project in south Kashmir’s […]
Airbus inks pact with Tata Strive. AASSC to give training for aviation jobs
NEW DELHI: European aviation major Airbus on Wednesday signed a pact with Tata STRIVE and the Aerospace and Aviation Sector Skill Council to train youths for aviation and aerospace jobs. Under the agreement, Airbus, Tata STRIVE and AASSC, with the support of NSDC and the Ministry of Skill Development and Entrepreneurship (MSDE), will work together […]
Omaxe raises Rs 440 crore from Varde Partners to expedite construction, expand business
NEW DELHI: Realty firm Omaxe on Tuesday said it has raised Rs 440 crore from Varde Partners to expedite construction of its existing projects as well as expand business. Omaxe Group is developing integrated townships in New Chandigarh, Lucknow, Ludhiana, Indore and Faridabad. It is also developing a multilevel parking cum commercial project in PPP […]
Shriram Properties to sell 90-acre land to LOGOS for logistics park
NEW DELHI: Shriram Properties Ltd has entered into an agreement with LOGOS for potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara here for an undisclosed sum, officials said. LOGOS intends to develop the land into a modern and sustainable logistics park, offering around 2.2 million square feet of […]
County Group to invest Rs 850 crores in development of County Courtyard
NEW DELHI: Realty major County Group has announced the launch and commencement of construction of its ambitious mixed-use commercial project, County Courtyard in Netaji Subash Place, Pitampura in North Delhi. The project will be divided into twin towers interlinked through a Grand Plaza, whereby both Towers Wing A and Wing B, will be spread over […]
Bhagwant Mann orders probe on why public debt swelled to Rs 3 trillion
NEW DELHI: Punjab Chief Minister Bhagwant Mann on Monday ordered an inquiry into how the state has a whopping public debt of Rs 3 lakh crore and where was the money spent. “We will inquire as to where the money was spent and will order recovery into where this money was spent. This was the […]
Private equity inflow in realty sector declines 47% to $1 billion in January-March 2022
NEW DELHI: Private equity investment into the Indian real estate sector fell 47 per cent to USD 1 billion during January-March this year compared to the year-ago period, but the inflows jumped over 4.5 times from the previous quarter, according to property consultant Savills India. The PE (Private Equity) inflows stood at USD 1.9 billion […]
Ashok Leyland to enter used commercial vehicles business
NEW DELHI: Hinduja Group flagship Ashok Leyland on Monday said it has joined hands with Mahindra First Choice Wheels to enter the used commercial vehicles business. The company has inked a MoU with Mahindra First Choice Wheels Ltd (MFCWL) in this regard. The phygital platform, as part of the partnership, will facilitate an exchange and […]
BMW launches X4 Silver Shadow Edition; price starts at Rs 71.9 lakh
NEW DELHI: German luxury carmaker BMW on Monday launched the ‘Silver Shadow Edition’ of its X4 model with price starting at Rs 71.9 lakh (ex-showroom). Locally produced at BMW Group plant in Chennai, the new exclusive edition comes in both petrol and diesel engine options. The petrol engine variant has a 2-litre engine with a […]
Indiabulls Real Estate to use Rs 865 crore QIP proceeds to buy land, pay debt
NEW DELHI: Indiabulls Real Estate on Monday said it will utilise Rs 865 crore raised by issuing shares to institutional investors mainly for land acquisition and debt reduction. The Mumbai-based firm on March 7 had launched its QIP (Qualified Institutional Placement) issue and closed it on April 12. In a regulatory filing, Indiabulls Real Estate […]
British Prime Minister Boris Johnson facing new ‘partygate’ claims ahead of India visit
NEW DELHI: British Prime Minister Boris Johnson is facing new allegations on Monday around partygate, the scandal surrounding government officials breaching coronavirus rules with illegal lockdown gatherings, and will be hoping to escape some of the heat when he leaves for India on Thursday. Johnson has already been fined for one such party, for his […]