Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
The initiative deepens N/Core's multi-year partnership with tech giant Cisco, which has participated in the fund along with Ford Foundation and IRB Infrastructure.
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals (BHEL) are in talks for a partnership to run private trains. According to officials in the know, the two public sector undertakings (PSUs) are planning to form a special purpose vehicle (SPV) to run passenger trains on routes for which IRCTC has put in bids. "BHEL will be putting in the money required for private rail service, while IRCTC is going to focus on operational requirements," an official said. "IRCTC's business model has not been capital expenditure-focussed. It has built only operational enhancements," he added. Bids for public private partnerships (PPPs) in passenger train operations were opened last month.
The Central Bureau of Investigation, probing January 2010 murder of RTI activist Satish Shetty, on Friday conducted searches at the offices of IRB Infrastructure Developers Limited, a company which was recently in news over its links with Bharatiya Janata Party chief Nitin Gadkari.
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Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
The tunnel would provide all-weather connectivity between Srinagar and Leh-Ladakh
Gadkari said the NHAI was working on setting up an InvIT to monetise its projects for mobilising resources through capital markets.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
On July 31, one of the five shortlisted companies, IRB Infrastructure, had said it would not bid for MTHL.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The breadth, indicating the overall health of the market, turned negative from positive
Unless companies press the pedal on implementation, further stock price gains might be limited, says Hamsini Karthik.
Housing sector to benefit from Budget.
Firms are still barred from holding board positions in the special purpose vehicle that will develop the airport.
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
The month also saw Adani Power acquiring the 600-Mw Korba West thermal power plant from the Gautam Thapar-led Avantha group for Rs 4,200 crore (Rs 42 billion).
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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Markets ended lower on profit taking ahead of June F&O expiry.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
To cover most of the gap, the road ministry plans to raise $7 billion.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
Broad-based buying aided sentiment and the market registers record turnover at Rs 6.86 lakh crore
Hike in planned public-sector capital expenditure will be credit-positive for infra cos
Experts say investors should be careful, as even a 50-100 bps cut in rates will not help such companies if their business is not doing well. Check what is the problem and consider
Markets ended lower following expiry of July F&O contracts and sales by foreign funds.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Index heavyweights Reliance Industries, HDFC and Infosys were the top Sensex gainers.
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
Investors booked profits at higher levels despite the growth oriented Budget.
The economic slowdown has made it difficult for companies to record financial closure of a few awarded projects.
Drought or no drought... life goes in the water-starved Beed district in Maharashtra's Marathwada region
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