Center wants states to include e-commerce, IT-BPO in essential services

Ministry of Electronics and Information Technology, Government of India, has requested all state governments to include IT and BPO employees, as well as e-commerce, in their list of essential services. Several state governments, including Maharashtra, Kerala, Tamil Nadu and Andhra Pradesh, have announced strict curbs on the movement of people and the functioning of shops […]

What slowdown? Polycab sales continue to zoom

Polycab, one of India’s biggest makers of electrical wires, reported an exceptionally strong set of results for the October-December period, despite widespread reports of a slowdown in the economy, including the construction sector. Polycab India Ltd reported revenue of Rs 2,507 cr from its operations, up from 2,242 cr in the preceding three months and […]

Ahmedabad-based PSP Projects to create Kashi Vishvanath corridor

Ahmedabad-based PSP Projects Ltd announced that it has emerged as the lowest bidder for the development of a new corridor from Kashi Vishvanath Mandir in Varanasi to the nearby riverfront known as Lalita and Manikarnika Ghats. The beautification and expansion project will cover an area of around 200 meters by 250 meters, and will cost […]

Dilip Buildcon in line to win Delhi projects worth Rs 826 cr

Dilip Buildcon, which specializes in the construction of roads and bridges, said it has been declared the lowest bidder for projects worth Rs 826 cr from Delhi Metro and the PWD in Delhi. These include part design and construction of an elevated viaduct, an elevated ramp, siding lines, a viaduct to Mukundpur depot and four […]

Airbus India awards outsourcing deal to L&T Technology Services

L&T Technology Services, which provides outsourced engineering services, said it has won a contract from aircraft maker Airbus India to manage their Avionics Software Development, V&V (Validation & Verification) and Data Analytics. The size and duration of the deal have not been disclosed. L&T Technology Services Limited (LTTS) is a listed subsidiary of construction major […]

COLUMN: Why we should welcome a recession

Subramanian Swamy is often accused of propagating outlandish ideas and suggestions, but at least on the issue of addressing a slowdown in India’s GDP growth, he seems to be closer to the truth than India’s ruling establishment. Both Sitharaman and Swamy are united in recognizing the need for a ‘stimulus’ to nudge the economy from […]

Nila Infra gets first contract from Dholera Industrial City

Construction major Nila Infrastructures Limited said it has received a contract to build a public services building for Dholera Industrial City Development Limited (Dholera ICDL) at a cost of Rs 46.21 cr. The building, to be constructed in the Dholera Special Investment Region (Dholera SIR), has to be completed in 545 days, and is the […]

L&T Mitsubishi wins large order for Khurja Super Thermal Power Plant

Larsen & Toubro said L&T-MHPS Boilers Private Ltd (LMB), one of the company’s joint ventures with Mitsubishi Hitachi Power Systems, won a thermal power project order worth Rs 2,500-5,000 cr from the UP government. The order, from THDC India Limited – a joint venture of Government of India and Government of Uttar Pradesh – is […]

BHEL wins second big order from Koodankulam Ph II project

Close on the order for erection of turbine generator for the new units of Koodankulam Power Project, state-owned capital goods giant Bharat Heavy Electricals Limited (BHEL) said it has also won the order for erecting reactor side equipment for the same. Against a value of Rs 440 cr for the June order, this one is […]

Ducon Infratech in tie-up with Shapoorji Pallonji group’s Sterling & Wilson

Ducon Infratechnologies Ltd, which provides technology solutions in the industrial, infrastructure & digital, said that it has entered into strategic tie-up with Sterling & Wilson Private Limited, a flagship group company of Shapoorji Pallonji group, to jointly bid for large size flue gas desurlpherization tenders. “The joint bidding exercise has significantly expanded our financing capabilities […]

RPP Infra Projects bags order worth Rs 47.2 crores from BHEL

Chennai-headquartered construction company RPP Infra Projects said it received a new order worth Rs 47.2 crores from Government of India owned construction and manufacturing firm Bharat Heavy Electricals Ltd (BHEL) for structural works of their Coal Handling Plant & Ash-Handling Plant in Tuticorin, Chennai. The project will be completed within 24 months. RPP lnfra’s order […]

L&T bags Mumbai Metro order

Infrastructure major Larsen and Toubro (L&T) said its construction business has received orders worth over Rs 2,500 crore across various Indian states including Delhi, Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, Uttar Pradesh and Maharashtra. L&T secured an order from the Mumbai Metro Rail Corporation Ltd for the design, procurement, supply, installation, testing and commissioning of […]

L&T acquires Rs 7.2 cr worth of Mindtree shares via open market

Infrastructure major Larsen and Toubro said it acquired 73,953 shares of IT firm Mindtree from the open market. The latest purchase comes three days after it acquired 13,443 shares in the IT company. After the latest transaction, L&T’s shareholding in Mindtree stands at 26.53%. The latest stock purchase was made at Rs 979 price per […]

JSPL wins Rs 665 cr rail order from Rail Vikas Nigam

Steel and energy company Jindal Steel and Power Ltd (JSPL) said it received an order worth Rs 665 crore from Rail Vikas Nigam Limited (RVNL) for the supply of over 89,000 tonnes of rails. Rail Vikas Nigam Limited is an organisation associated with the Indian Railways, and builds engineering works for the Indian Railways. JSPL […]

Ratnamani Metals and Tubes receives order worth Rs 255 crore from oil and gas sector

Steel tubes and pipes manufacturing firm Ratnamani Metals and Tubes Ltd said it received a Rs 255 crore order from the oil and gas sector for the supply of coated carbon steel pipes. Carbon steel, also called mild steel, are used in oil and gas pipeline, plumbing and water supply systems. The order will be […]

YES Bank acquires stake in Electrical Engineering firm CG Power and Industrial Solutions

YES Bank, India’s fourth largest private sector bank, said it has acquired 12.79% stakes in Electrical Engineering firm CG Power and Industrial Solutions as part of the invocation of a pledge. It acquired over 8 crore of equity shares of CG Power submitted as collateral for a loan. The shares are valued at Rs 288 […]

Ducon Infratech wins pollution controller order from Exide unit

Information technology firm Ducon Infratechnologies Ltd said it received an order to supply a pollution control system at the greenfield lead metal recycling and refining project of Chloride Metals Ltd, a wholly-owned subsidiary of Exide Industries Ltd and one of India’s largest secondary lead smelter and production company, at Haldia in West Bengal. The pollution […]

Private Equity money shifts to commercial real estate, ignores residential segment

The last three years have seen a massive shift in private equity investment in the Indian real estate sector from residential properties to commercial properties, according to data compiled by Anarock Property Consultants. The share of residential sector within private equity investments in real estate fell to just 3% in 2018 from 47% in 2015, […]