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
Indian and global construction companies vying for Rs 12,000 crore worth of civil works for Dedicated Freight Corridor.
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
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.
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.
The IVRCL termed the project the toughest undertaken by KMDA.
'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.'
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.
Of BSE 500 companies, promoters of 142 companies have pledged their holding.
The tragedy comes at a particularly sensitive juncture.
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.
With its new hybrid annuity model, the government is confident of getting more funds from India Inc.
Hike in planned public-sector capital expenditure will be credit-positive for infra cos
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Sensex firm on favourable GDP numbers for FY16.
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
More than 10% (40 of 498 companies) have lost at least half their market value.
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