How the world dines on Christmas.
The Securities and Exchange Board of India on Thursday barred Gammon India and four others from accessing the capital markets for a year.
Acquisitions, slowdown put infra major in a spot, with bankers okaying debt restructuring.
Gammon India and L&T were the only bidders left in the fray for the project
The proposed initial public offering of Gammon Infrastructure Projects is unlikely to face any regulatory hurdle following the recent Securities and Exchange Board of India's order.
Mumbai-based Gammon Infrastructure wishes to buy stakes in international airport projects. The company is already in talks with companies that have won such projects in developing economies. "We expect the first such deal to close in six months," said Managing Director Parvez Umrigar.
Tuesday's move, announced at a press conference in the capital, comes a little over a month after an accident killed six workers at a metro construction site on July 12. The accident, the latest in a series over the past year, raised public outrage and prompted Delhi Metro Rail Corporation's widely respected chief E Sreedharan to submit his resignation, which the state government declined to accept.
The company hopes to raise around Rs 300 crore (Rs 3 billion) through this route, in addition to Rs 200 crore (Rs 2 billion) it plans to raise through a rights issue.
Manavi Kapur profiles Sheikh Rafik Mohammed of Calicut, who has been appointed to the top military post in the Central Asian country.
Six persons were arrested on Wednesday in connection with the collapse of an under-construction flyover leading to the death of two persons seven months ago.
L&T IDPL, Gammon, IL&FS in race for Rs 21,147-cr Mumbai elevated rail corridor
Most of these road contracts are spread across Andhra Pradesh, Haryana, Karnataka, Odisha, Rajasthan, Tamil Nadu, Uttarakhand and West Bengal, with the government struggling to restart them.
Overseas investment by Indian firms increased by about 59 per cent in May to $3.7 billion, with Gammon, Tata Steel and Religare among the top investors abroad.
The government's ambitious highway projects under the public-private partnership mode are in serious trouble. Construction companies have either not put in bids or have withdrawn from 20 such projects, which fall under the build, operate and transfer scheme.
Sebi should change the way issues are graded, say experts. In fact, the higher the grade of an IPO, the poorer has been its performance in the market.
The recent accident at the Delhi Metro site in South Delhi that claimed six lives was caused by 'serious deficiency' in design and inadequate concrete strength, Lok Sabha was informed on Tuesday.
The Delhi High Court on Wednesday issued a notice to the Delhi Metro Rail Corporation on a petition that stated that the DMRC was grossly negligent in connection with the Zamrudpur mishap. The petition called for the setting up of an independent committee to investigate the Zamrudpur incident, in which six persons were killed. On July 24, the high court had issued a notice to Gammon India, a contractor of Delhi Metro Rail project, on a petition filed by family of victims.
Putting the blame on 'deficiency in design and material' for the July 12 mishap which claimed six lives, Delhi Metro on Tuesday claimed that a design consultant firm which inspected the site 'misled' them and the contractor about the condition of the pier which collapsed. The DMRC is also serving a show-cause notice to contractor Gammon India, which was carrying out the work at Zamrudpur accident site, to explain why it should not be blacklisted for two years.
The BSE mid-cap Index will include shares of Allied Digital Services, Cals Refineries, Century Plyboards, Gammon Infra, Hindustan Oil Exploration, Indiabulls Securities, Jai Balaji Industries, Jet Airways, Jindal Drilling, Puravankara Projects, Rain Commodities, S Kumars Nationwide, Shriram City Union Finance, Thermax and Thomas Cook India.
Justice Rewa Khetrapal directed the company to file its response by August 20 when the matter will be taken up for further hearing.
After a delay of four months, Indian intelligence agencies have given security clearance to International Container Terminal Services Inc
Rediff reader Srinivas Samudrala, 58 from Telangana shares his story.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Power, GMR Energy and GVK Power are eyeing the capital's Rs 175-cr first waste-to-energy project.
An engineer working on the golden quadrilateral project has died at a hospital in Gaya, Bihar, under mysterious circumstances.
The company bid Rs 1,104 crore for a 7.5 hectare plot in the upcoming Bandra-Kurla Complex area.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
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Among other scrips, which would be shifted to the trade-to-trade segment include 3i Infotech, Bartronics India, Ramky Infrastructure and Zenith Birla (India) Ltd.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The labour force at large has turned less needy, due to various government financial incentives and freebies.
Top gainers from the Sensex pack are ONGC, HDFC, HUL, RIL and Cipla.
The project is likely to cost Rs 1,900 cr for which govt might invite global bids.
On July 31, one of the five shortlisted companies, IRB Infrastructure, had said it would not bid for MTHL.
The Rs 63,000-cr Mumbai-Ahmedabad high-speed corridor and Rs 14,000-cr CSTM-Panvel suburban corridor are two of the largest projects.
As FIIs pull out of road projects, doubts have surfaced about the future of new highways and roads
In a bid to woo foreign investors, the Indian Railways is planning to organise road shows in select countries showcasing opportunities for investment in the rail sector.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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