IL&FS group receives Rs 1,925 cr from Haryana govt for Gurgaon metro business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
India Business News: CHENNAI: The economic offences wing (EOW) of the state CID police unit arrested Ravi Parthasarathy, former founder and CEO of Infrastructure Leasing a.
Lacklustre opening likely for markets ahead of RBI meet, results
April 05, 2021
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Stocks to watch out for today are Adani Enterprises, ITNL, PNC Infratech, Olectra Greentech, Ashiana Housing and ANG Lifesciences.
After a long weekend, Indian markets are expected to open on a flat note on Monday. While signals are mixed from Asian markets, SGX Nifty points a 40-point gap down opening. The SGX Nifty futures currently rule at 14,915 (8 am IST), as against Nifty futures Thursday s close of 14,953.35.
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Investors will closely monitor the outcome of the RBI meet and quarterly performance of India Inc, said analysts. The RBI s three-day meeting begins today, and the outcome is expected to be on April 7. Acuite Ratings believes that MPC, in its upcoming meeting, will continue to reaffirm the accommodative monetary policy despite the global increase in bond yields amidst concerns of a quicker than expected normalisation in the markets of developed economies.
IL&FS receives Rs. 693 crore settlement claims for two road projects from NHAI
Posted On: 2021-04-04 03:27:59 (Time Zone: Arizona, USA)
IL&FS Transportation Networks Limited (ITNL), a subsidiary of IL&FS, on March 31, 2021 has duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) - from National Highways Authority of India (NHAI).
With these two projects, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 Road projects.
KNCEL project was foreclosed under the Ministry of Road Transport and Highways (MoRTH) guidelines of March 2019 for stalled and incomplete projects. CNTL is a completed project, earning annuities, and the Rs 19.6 crore is the claim amount towards change of scope.
IL&FS completes stake sale in China Road asset to Pingan, addresses Rs. 2,600 crore debt
Posted On: 2021-04-01 05:09:26 (Time Zone: Arizona, USA)
In a major step towards resolving overall debt, IL&FS today announced completion of its 49% stake sale in its Chinese Road Asset - Chongqing Yuhe Expressway Co Ltd (CYEC)
The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants.
This is the largest transaction for IL&FS since the sale of its Wind Energy assets to Orix.
IL&FS has duly received Rs 1,035 crore (USD 141.3 million) in Singapore as part of this stake sale transaction. The consideration will be used to pay approx. USD 88 million of Bank of Baroda Loans and the balance to meet IIPL liabilities - including Bondholders under IOPL.