While activity in the highway segment has been slow, the bid pipeline saw recovery in January 2024, and awards are expected to improve in Q4FY24. The national highway (NH) bid pipeline has recovered from a low of Rs 15,900 crore in December 2023 to Rs 68,400 crore at present. The NHAI's pipeline stands at Rs 66,100 crore, with hybrid annuity model (HAM), build operate transfer (BOT) and engineering procurement and construction (EPC) projects accounting for 60 per cent, 29 per cent and 13 per cent share, respectively.
Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore.
Charlie Woods, the 15-year-old son of golf great Tiger Woods, hit his first ever hole-in-one on Sunday
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
Tiger Woods and his 12-year-old son Charlie reeled off 11 straight birdies to card a final round 57 and finish in second place at the PNC Championship on Sunday, two shots behind winners John Daly and his son John Daly Jr.
Maldivian President Mohamed Muizzu's party secured a 'supermajority' in Parliament by winning over 60 seats in Sunday's crucial parliamentary election, seen as a litmus test for the pro-Beijing politician whose policies are being closely watched by both India and China amidst regional power dynamics.
The EU mission noted that political and campaign fundraising and financial expenditure lack transparency and effective oversight.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
The development comes a day after clashes broke out in Parliament on Sunday between pro-government MPs and opposition lawmakers over differences over the approval of four members of the pro-China President's cabinet.
Road awards were muted in Q1FY25. But the pace will accelerate with a bidding pipeline of Rs 1.1 trillion (September 2024), mostly dominated by HAM (Hybrid Annuity Model) projects, which contribute 47 per cent and engineering procurement and construction or EPC projects, which have about 36 per cent share. Hence, infrastructure companies mostly reported revenue decline on a year-on-year (Y-o-Y) basis in Q1FY25.
The parliamentary election result was also to prove that the Maldivians want "autonomy in choosing their future, without foreign coercion," President Muizzu said, without naming any country, according to the Sun.mv news portal.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
It is time the political leaderships in this country arrived at a common ground over issues of foreign and security policy concerns. There has to be a greater communication between the government and the Opposition leaderships for the nation to present a unified face against the rest of the world, advises N Sathiya Moorthy.
Returning home after a five-day high-profile state visit to China, Maldives President Mohamed Muizzu on Saturday struck a defiant note saying that his country may be small but 'doesn't give them the license to bully us'.
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
Tiger Woods, who is unsure when he will return to the PGA Tour after sustaining serious leg injuries in a car crash, said on Wednesday he would compete with his 12-year-old son Charlie at next week's PNC Championship in Orlando.
Tiger Woods on Monday announced he will not compete at this week's Hero World Challenge in the Bahamas due to a foot injury that is making it difficult for him to walk but said he still plans to compete at two events in December.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
Tiger Woods' name appears in the field for the 2022 Masters on the golf tournament's official website -- and not on the list of past champions who are not scheduled to compete.
Uniparts India and PNC Infratech are the latest companies to file initial public offer papers.
Tiger Woods was all smiles ahead of this weekend's PNC Championship as he makes his highly anticipated return to competition after a February car crash shattered his leg.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mahi, Palak and 2 other Indians enter final at Asian Youth & Junior Boxing C'ships
Adani Airports is planning to centre its airport business around Mumbai and Ahmedabad by developing them as gateway airports, feeding them with traffic from other airports in the company's portfolio. The Ahmedabad-based conglomerate - with investments in logistics, transportation, utilities and energy - intends to spend Rs 35,000 crore in the airport business in the next five years. This forms the bulk of the conglomerate's total capex of Rs 50,000 crore. According to a presentation given by the company in an investor call with Bank of America, gateway airports of Mumbai and Ahmedabad will be connected with the feeder airports of Lucknow, Guwahati, Trivandrum, Jaipur and Mangalore.
Pritish Nandy Communciations edged up today on news that its latest film Jhankar Beats is doing well at the box office. \n\n\n\n
'I think he has lifetime exemptions at every major event but I suspect we are probably not going to see Tiger in a competitive golf event going forward.'
Adani said he expected the number of flyers in the country to grow five-fold, which means India would require 200 additional airports to handle over 1 billion domestic and international passengers across the tier-1, -2 and -3 cities.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Wealthy people are now donating less for charitable purposes, although they still feel an obligation towards such social work, a survey has revealed
Thirteen individuals from the Indian Diaspora have been conferred with the Pravasi Bharatiya Samman at the seventh edition of the Pravasi Bharatiya Divas, underway in Chennai
The financial bids will be opened on Wednesday along with the technical bids for Bareilly. Torrent had quoted highest rates at Rs 2.17 per unit, followed by JUSCO at Rs 2.16 per unit for Kanpur.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
This is the first time a Presidential candidate is addressing the Hindu community, that too days before the election.
The Adanis were the highest bidder for the Ahmedabad, Thiruvananthapuram, Lucknow, Mangaluru and Jaipur airports.
From Bollywood-themed performances to a heritage tour... Donald Trump will soak up all things Indian.
As we prepare to cruise into the New Year, Rediff.com gives you a glance back, through photos, into all the sporting moments that made the last 12 months memorable.
This was the biggest IPO in the Indian market since Infratel's.
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