Hindustan Construction raises ₹350 crore via rights issue
Hindustan Construction Company has raised ₹350 crore through the rights issue. According to the company’s statement, the issue has been oversubscribed by 250 per cent, with the company receiving applications worth ₹877 crore (the balance being refunded to investors). The equity shares have been allotted to the applicants as per allotment basis. The lead manager for the rights issue was lOBI Capital Markets & Securities Ltd. 

NBCC to set up shadow lender to help save over $100 mn
NBCC planning to set up its own NBFC to help save over $100 million

Construction equipment industry achieves second consecutive year of double-digit growth
The Indian construction equipment industry has continued its strong growth trajectory, posting a 25 per cent increase in the fiscal year that ended on March 31, 2024. This marks the second consecutive year of double-digit growth, with industry volumes reaching a new peak in the post-Covid period. Total industry volumes reached about 1,35,000 units, including both domestic and export sales, in FY24, up from about 1,08,000 units in FY23.

Realty developer TARC reports 200 per cent growth in pre-sales

The company, in a statement announcing Q4 updates, said the increase is attributable “largely to the success of TARC Kailasa, located in New Delhi”. Construction work for TARC Kailasa is underway.

Average room rates to continue to be elevated in FY25 by 7-8 per cent
The Indian hospitality sector is optimistic about the future, with experts predicting a further increase in average room rates (ARRs) for FY25. This comes after a strong showing in FY24, which saw a significant rise in ARRs compared to the previous year.

Worli underpass to provide direct access to Mumbai Coastal Road and Bandra Worli Sea Link – Details inside
The Brihanmumbai Municipal Corporation (BMC) is working on the Mumbai Coastal Road Project (MCRP), which connects Marine Drive with Bandra Worli Sea Link (BWSL), to ensure smooth traffic flow.

Railways: On track for major overhaul but with speed limits
New Delhi: A challenge before successive governments has been how to enhance efficiency of the country’s largest national transport network, the Indian Railways (IR). The two-terms of the NDA government has also had its share of challenges while dealing with the railways.

Railways to cover last mile of electrification after polls
 

Railways in better health today: Minister Dinesh Trivedi
How do you review the Railways performance in these 10 years?

RINL in talks with Paradip port for “commodity loan”
New Delhi: Hit by non-availability of coking coal following a workers’ strike at the Adani-owned Gangavaram port, CPSE steel-maker RINL (Rashtriya Ispat Nigam Ltd) is in talks with Paradip port for a “commodity loan” of 50,000 tonnes (of coal), while it is re-routing two coal bearing ships from Gangavaram to Vizag port.