India's rail modernisation drive has reached a critical milestone. With electrification reaching 99.2 per cent, Indian Railways is among the world's leading rail systems.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has signed a Rs 4,000-crore agreement with Larsen & Toubro Ltd, the engineering and construction major, for supply of equipment for its Nigrie Super Thermal Power Project in Madhya Pradesh.
Deal comes within days of Abu Dhabi's TAQA pulling out of agreement.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
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