As many as eight officers of the IVRCL have been arrested under Sections 302 (murder), 307 (attempt to murder) and 120B (criminal conspiracy) of the Indian Penal Code.
After Essel landed the first punch by saying they were approached by IVRCL for a buyout, IVRCL's management was quick to deny every single point, even charging Essel with 'lying'.
In 2009, the company was blacklisted by the then Andhra Pradesh government after two labourers were killed when a trench dug for sewage pipe caved in
Says it followed all quality standards, probe needed on causes; top management remains unavailable
The IVRCL termed the project the toughest undertaken by KMDA.
Narendar Lokwani answers readers' stock maket queries.
According to a 2020 study Analysis of bridge failures in India from 1977 to 2017, as many as "2,130 bridges" -- excluding culverts and pedestrian bridges -- have collapsed during various phases of construction in the last four decades.
In the past month, when the Essel Group started picking up shares of the company, IVRCL's stock has risen 31 per cent, a rare feat in a market where infrastructure stocks have been suffering due to slow movement in projects and high interest burden.
Four more officers of the Hyderabad-based construction company in-charge of building the Vivekanda Road flyover, a portion of which collapsed last week, were arrested on Monday.
'There is no difference morally between politicians scoring points amid the rubble and non-politicians who assume that politics and corruption necessarily had something to do with it,' says Mihir S Sharma. 'Both are twisting a tragedy to their own ends.'
Showing a photograph of the mishap site published in a newspaper, she said that it looked like a site of bomb blast. There were various aspects which should be looked into.
Of BSE 500 companies, promoters of 142 companies have pledged their holding.
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.
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
A day after an under-construction flyover collapsed in the city leaving at least 24 dead, the police on Friday night arrested three top officials of a Hyderabad based company which was building the flyover and slapped murder charges on them.
Indian and global construction companies vying for Rs 12,000 crore worth of civil works for Dedicated Freight Corridor.
Here's a list of a few remarks which added to the anguish of people in the aftermath of the tragedy.
Orders are flowing for the water and wastewater treatment industry, as leading players in the domestic market such as VA Tech Wabag, Larsen and Toubro, Thermax and IVRCL Infra have bagged over Rs 2,500 crore (Rs 25 billion) worth of orders in the past two-to-three months.
The timing of the flyover collapse couldn't have been worse for the CM with the assembly elections just days away.
'Kindly advise about the following stocks. Can I hold or exit?'
The tragedy comes at a particularly sensitive juncture.
The infrastructure pack has been running up. Examining the fundamentals and technicals, Vibhav Kapoor of IL&FS and technical analyst Rajat Bose discuss the infrastructure space.\n
Many others are feared to have been trapped under the debris. Rescue work is on, as per last reports.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Israel has expressed interest in sharing its expertise on water purification and waste water treatment under Prime Minister Narendra Modi's pet project for cleaning river Ganga.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
RBI and Sebi are close to reaching an agreement for providing waiver of existing norms to banks.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
With its new hybrid annuity model, the government is confident of getting more funds from India Inc.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Beat gains made by mid-cap, broader indices.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
Hike in planned public-sector capital expenditure will be credit-positive for infra cos
More than 10% (40 of 498 companies) have lost at least half their market value.
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
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