Infrastructure Companies

New framework proposes enhancing amount companies can repurchase vis-a-vis free reserves

Enterprise value pegged at Rs 6,000 crore; portfolio includes 8 roads and one power transmission asset; deal closure likely by end of FY23

Infra lending firm's affidavit says it has reduced the number of entities under it from 302 to 101

Much of corporate portfolio has dollar-linked revenue and is not exposed to rupee depreciation

The Reserve Bank of India last month also revised its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier

In Q2, the company gained from strong order inflows in the domestic market, with consolidated revenue from operations increasing by 23 per cent to Rs 42,763 crore in the period

Given the tightening liquidity conditions and higher cost of borrowings, corporates with a weak credit profile are likely to tap a loan against shares facility to meet their funding requirements

Generally, corporate infrastructure issuers have features that shield them to currency weakness

Orders for companies grew 15-57% in the first quarter of the financial year

Despite rise in interest rates and property prices, momentum in housing demand expected to stay, say developers; infra, cement companies remain circumspect

Union Nitin Gadkari on Tuesday said infrastructure companies should also float their own non-banking financial companies (NBFCs) to fund road construction related projects.

Four infrastructure firms, including Tata Projects and Uttar Pradesh Rajkiya Nirman Nigam Ltd, have submitted technical bids for construction of three buildings of the Common Central Secretariat under the Central Vista redevelopment project, an official said on Tuesday. The other two firms are L&T Construction and NCC Ltd, the official said. All these firms are being checked for qualification to participate in the financial bids, he adding the financial will soon be called once the evaluation process of the documents submitted by these four firms is completed. Earlier this month, the Central Public Works Department, which has been executing the Central Vista redevelopment project, had revised the estimated cost of construction and maintenance of the three buildings of the Common Central Secretariat. The estimated cost of construction and maintenance of these three buildings has been revised to around Rs 3,254 crore from Rs 3,408 crore. These new buildings will come up on the plot

Contingent liability a critical parameter too, according to analysts

As per the document, 4,650 acres area there has been notified as SEZs and utility and environment approvals are in place

The Survey suggested interlinking electricity supply with health and education

There is no control over credit disbursement as each lender is bound by its own policy and there is no single lender accountability

There is a directive to PSBs to reduce the number of banks in the consortium that lend to projects

In some cases, the upfront cash payout is securitised against a pre-decided amount and a coupon rate

Robust profit visibility, but high debt, working capital may limit growth of road, urban infra firms

In the past few years, investors have avoided shares of infrastructure companies. Last year when Dilip Buildcon was planning its initial public offering (IPO), foreign bankers advised the firm to postpone the issue, as they were not able to attract enough interest from foreign investors. With IPO subscription of 15 times and listing gains of 15 per cent in Dilip Buildcon, coupled with buoyant secondary market, the tide for infra stocks could be turning, say bankers.Grasim-Nuvo merger: All eyes on domestic fund managersAfter sharp criticism from foreign brokerages and investors, domestic fund managers are beginning to question the merger of Aditya Birla Nuvo and Grasim. Fund managers are already holding discussions on the position that they should be taking on the deal as minority shareholders. "Fund managers will use the long weekend to understand the finer points of the deal before they take a position next week," says the chief executive officer of a large fund house. On Friday, a da