With the environment ministry nod to Navi Mumbai airport, money is flying into projects in its precincts.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
Would you spend Rs 2.5 lakhs to make your car look like a helicopter? Ishwar Deen, a sculptor who lives in Ambedkar Nagar's Khajuri Bazar, did.
Intense spells of rain are likely to continue in the districts of Thane, Raigad and Mumbai during next four hours, the India Meteorological Department (IMD) said.
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a $90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
The civil aviation sector is witnessing a number of initiatives
Experts are divides on whether a new international airport should be developed at Greater Noida.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
Prime Minister Narendra Modi on Friday inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the longest bridge as well as the longest sea bridge in the country connecting south Mumbai with Nhava-Sheva in Navi Mumbai.
Govt is considering making connectivity an integral part of airport projects as it would benefit the passengers in the long run.
Bandra-Worli sea link has still not been able to make money for MMRDA in spite of steep toll for car owners.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
The deal will give India's largest conglomerate indirect stakes in seven airports in India and abroad.
The Adani group will be generating almost 90 percent of its Ebitda (earnings before interest, tax, depreciation, and amortisation) from infrastructure business by 2025 as compared to 83 per cent generated from these businesses currently, top company officials told bankers recently. Of the infrastructure business, 49 per cent of the profits are currently contributed by energy and utility, another 25 per cent by transport and rest by cement and logistics businesses. This will go up substantially as several new projects like Navi Mumbai airport and other projects get commissioned and contribute to the overall Ebitda pie, bankers were told.
Eknath Shinde, a former auto-rickshaw driver, has emerged as a key leader in Maharashtra, culminating in his appointment as Deputy Chief Minister. His journey from a Shiv Sena rebel to a dominant figure in the state's politics is a testament to his resilience and political acumen. He gained popularity for his pro-people stance and his contributions to infrastructure projects and social welfare schemes, solidifying his position as a powerful player in the Mahayuti alliance.
The recent blip in housing sales on a quarter-on-quarter (Q-o-Q) basis should not worry investors as the long-term prospects of real estate stocks remain on a strong foundation, according to analysts. In the first half of the calendar year 2024 (H1CY24), realty stocks surged up to 104 per cent. This sharp run should be used to book partial profit in related stocks, suggested Deepak Jasani, head of retail research at HDFC Securities.
IndiGo has delivered impressive operating performance in the past six quarters as it navigated cost and capacity challenges. It has managed to mitigate the impact of faulty engine-related groundings. The airline has also managed costs related to grounding, expensive secondary leasing, increasing airport charges, and pilot compensation inflation and delivered stronger yields and spreads.
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
Flight operations at the Mumbai airport were suspended for nearly half an hour as visibility dropped well below the required 550 meter-mark
The year 2010 was a loud year when high profile projects hit the headlines for non-compliance with environmental regulations.
The Bill will be tabled in the winter session of Parliament later this year.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
Malaika-Arjun back in Mumbai... Kartik at T-Series office... Ananya-Vijay promote Liger...
A total of 1,160 hectares are proposed for the airport project of which mangroves are currently spread over 110 hectares.
Domestic airports across the country are bursting at the seams. And new ones are stuck.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
Here's what's buzzing in Mumbai if you are looking out for real estate appreciation...
The ministry and the civil aviation regulator have said the government will consider the airline's request for slots as per existing policy.
The strong message from the prime minister is of continuity of policies he considers right with strong emphasis on execution, points out T N C Rajagopalan.
Mumbai police has received text messages warning of a '26/11-like' attack on the city from a phone number with Pakistan's country code and a person has been detained in this connection, officials said on Saturday.
'Uddhavji will face the no confidence motion on the floor of the House whenever it happens.'
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
A 58-year-old man died after a power transformer fell on him in Raigad district. 2 people died and 3 were injured in two separate cyclone-related incidents in Pune.
The US is currently Earth's most powerful country and a certain latitude of understanding -- a world view -- is popularly expected from its leadership. From a country identified with freedom, constitution, debate, democracy and the likes of Abraham Lincoln even as it had the most powerful military around, the US, following Trump's actions, seemed repositioned as militarily powerful with other qualities secondary, observes Shyam G Menon.
