Infra push to drive cement demand up 10-12 pc this fiscal: Report
Mumbai: The massive infra spending by the government towards building roads, railway lines and power, among others, will boost cement demand by 10-12 per cent this fiscal, according to a report. The Centre has increased its budget allocation for infrastructure -- such as roads, railway lines/stations, power, including renewables, urban infra, telecom, ports, airports, and water works, among others -- by Rs 1.6 lakh crore to Rs 5.9 lakh crore for fiscal 2024 from a revised estimate of Rs 4.3 lakh crore for fiscal 2023.

NCC Ltd, J Kumar Infra Projects bag order worth Rs 6,301.08 crore from BMC
NCC Limited on Friday announced that its joint venture formed between the company and J Kumar Infra Projects, has been awarded a contract worth Rs 6,301.08 crore (net of GST), wherein the share of works to be executed by NCC works out to Rs 3,213.55 crore approximately. “We are to inform you that the Joint Venture (JV) formed between the Company and J Kumar Infra Projects Limited (JKIL) has been awarded the contract relating to design, construction and operation of twin tunnel from Film City Goregaon to Khindipada (Amar nagar) Mulund including box tunnel at Film City, Electrical, Mechanical and associated works by Brihanmumbai Municipal Corporation,” the company said in a regulatory filing. 

Karnataka: Sub-registrar office timings extended as property buyers queue up ahead of guidance value hike
The sub registrar offices in the Karnataka will function from 8 am to 8 pm till September 30 in view of the sharp increase in property registrations, Revenue Minister Krishna Byre Gowda announced on Friday. They will function on September 23, Saturday also, though it is a government holiday.

Sunteck Realty, IFC set up joint platform to invest Rs 750 cr for affordable housing projects
Sunteck Realty and IFC have set up a joint platform to invest up to Rs 750 crore to develop 4-6 affordable housing projects in Mumbai Metropolitan Region (MMR). IFC, a member of the World Bank, is the largest global development institution focused on the private sector in emerging markets.

Certus Capital lines up Rs 500 crore investments
Real estate advisory and investment company Certus Capital has lined up Rs 500 crore of investment for its debt platform Earnnest.me. The company said that it is largely focusing on the Western and Southern Indian market.

DLF rental arm raises ₹1,100 cr via NCD issue
New Delhi: DLF Cyber City Developers (DCCDL), the rental arm of DLF, has raised ₹1,100 crore through the issuance of non-convertible debentures on a private placement basis, according to a regulatory filing.

Cement demand to grow 10-12% this fiscal on offtake from infrastructure segment, says CRISIL
Continuing the growth recorded during the past two fiscals, India’s cement demand will grow 10-12 per cent on-year to ~440 million tonne in fiscal 2024, said a CRISIL Ratings analysis. The report stated that this growth will be driven by strong offtake from the infrastructure segment. 

Ambuja Cements incorporates three new subsidiaries to boost business
 

India Cements sells land to UltraTech to improve liquidity, meet capex
 

Upcoming swanky highways to have same speed limits as now
New Delhi: The maximum speed on the world-class highways coming up in India will remain at the existing 120kmph in the interest of safety, even though many of them have been tested for speeds as high as 160kmph.

Mumbai-Ahmedabad Bullet Train Project: Thane bullet train depot adopts Japanese Shinkansen standards – Know key features, design, current status
The Thane depot, situated in Thane, Maharashtra, is one of the key components of the Mumbai-Ahmedabad bullet train project, which spans a total distance of 508 kilometers, with 153 kilometers falling within Maharashtra. This ambitious project holds great significance as it is a flagship initiative championed by Prime Minister Narendra Modi. Its execution is entrusted to the National High-Speed Rail Corporation Ltd (NHSRCL), a collaborative effort involving the central government and participating state governments.

Railway Board flags lax investigation in spring and brake faults
The Railway Board has called for a more thorough investigation in cases of faults after mechanical probes reported no defects while automated ones flagged issues. A letter to zonal railways sent out earlier this month noted that the “increasing number of Primary Spring failure and brake binding in coaches are a cause of serious concern.”

Railway PSU IRFC posts Rs 6,337.01 crore profit in FY23
The Indian Railway Finance Corporation Limited (IRFC) posted a net profit of Rs 6,337.01 crore for the fiscal year 2023, an increase of over four per cent over last year, a company statement said on Friday.

PM Modi to flag off two Vande Bharat Express trains of South Central Railway on Sep 24
Prime Minister Narendra Modi will be flagging off the Kacheguda-Yesvantpur and Vijayawada-MGR Chennai Central Vande Bharat Express trains on September 24 using a video link. The PM will flag-off nine Vande Bharat trains across the nation, including the two services in the jurisdiction of the South Central Railway (SCR), headquartered at Secunderabad.

Railways brings in policy changes as it looks to shore up freight revenues
New Delhi: The Indian Railways has brought in a slew of measures as it looks to shore-up revenues from freight operations. Some of the policy interventions include simplifying wagon-booking processes, online alert systems, issue single receipt for multiple journeys, creating alternate goods sheds across zones and so on.