The government is likely to abandon the plan to set up three more dedicated freight corridors (DFCs) – East Coast, East-West and North-South – at an estimated combined cost of Rs 2 trillion. The Centre may instead opt for a few commodity-specific rail networks, a senior railway official told FE on condition of anonymity. The […]
Category: The Financial Express
The Financial Express
Railways arm DFCCIL in talks with e-tailers, logistics firms
The Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) is in talks with over a dozen e-commerce and logistics companies such as Amazon, Meesho, Delhivery, Blue Dart Express, Shiprocket for leasing out the newly built infrastructure for cargo transportation. “We have given presentations to a list of companies engaged in the logistics business, and informed […]
Northern Railways GM inspects Srinagar-Sangaldan section in Jammu and Kashmir – Details inside
The General Manager of Northern Railways, Shobhan Chaudhuri, recently conducted an inspection of the Srinagar-Sangaldan Section of the USBRL Project in Jammu and Kashmir, overseeing various railway operations. Accompanying him were CAO/USBRL SC Gupta, along with Senior Officers from Firozpur Division, IRCON, and KRCL. The inspection, according to a statement issued by Northern Railways, encompassed […]
Indian Railways Update: Railway Board CEO reviews tunnel progress in Sivok-Rangpo Rail Line project
Indian Railways is making significant strides towards connecting Sikkim with the rest of the country. In a significant development, Mrs. Jaya Varma Sinha, Chairman and CEO of the Railway Board, conducted an inspection and comprehensive review of the advancements made in Tunnel No. 1, 7, 8, and the underground station as part of the Sivok-Rangpo […]
Railway Ministry showcases Darjeeling Himalayan Railway’s charm in latest tweet – Watch video
The Ministry of Railways on Friday (April 6) took to Twitter to invite travelers on a scenic journey through the breathtaking hills and mountains of the Himalayan range aboard the iconic Darjeeling Himalayan Railway. “Journey through the lofty hills & mountains of the Himalayan range in the iconic Darjeeling Himalayan Railway,” the Ministry of Railways […]
Central Railway collects Rs 300 crore in fines in FY 2023-24, highest among all zones
Central Railway collected fines amounting to Rs. 300 crore during the fiscal year 2023-24 from 46.26 lakh cases of ticketless or irregular travel and unbooked luggage, marking the highest revenue among all zones of the national transporter, revealed an official. Surpassing this year’s revenue target of Rs. 265.97 crore by 12.80 percent and the target […]
NTPC targets 17% growth in coal production by FY25
On Sunday, National Thermal Power Corporation (NTPC) announced that it has established a 40 million metric tonnes (MMT) production target for coal production from its owned mines by 2024–2025. According to an NTPC statement, the ambitious goal will assist NTPC in achieving a notable 17% annual growth in captive coal output. The announcement states that […]
Gas utilities to register strong Q4FY24 on healthy volumes, lower cost
India’s gas utilities and city gas distribution companies are expected to end the financial year 2023-24 with healthy growth primarily on the back of lower costs of gas and stronger volumes, as per analysts. “Lower gas costs, stronger volumes, offset by Rs 4-12 per kg price cut taken in CNG (compressed natural gas) by Indraprastha […]
Upstream companies’ profitability ma take a hit on high windfall oil tax
The recent hike in the windfall tax by the government is likely to impact the profitability of the Indian upstream companies and their cash accruals but will keep their realisations healthy, well in the range of $70-75 per barrel, as per analysts. “I think the govt has maintained their (upstream companies’) realisations and have not […]
Embassy REIT to buy business park in Chennai for EV of Rs 1,269 crore
Embassy Office Parks REIT on Saturday said it will buy Embassy Splendid TechZone (‘ESTZ’), a Grade-A business park, from its sponsor Embassy group for an enterprise value of Rs 1,269 crore. The proposed acquisition marks Embassy REIT’s entry into Chennai, one of India’s top performing office markets. It intends to raise unit capital of Rs […]
JSW Energy raises Rs 5K crore via QIP from ADIA, others
JSW Energy has successfully raised Rs 5,000 crore through qualified institutional placement (QIP) of its shares from investors, including Abu Dhabi Investment Authority (ADIA), Blackrock and other global asset managers, the company said on Friday night. The QIP was oversubscribed by 3.2 times, it said. This marks the first-ever equity raise by the company since […]
JSW Energy to use QIP proceeds to cut debt, for green arm
JSW Energy will use the proceeds of the qualified institutional placement (QIP) for repayment and prepayment of its debt and also to invest in its renewable arm, JSW Neo Energy, according to the placement documents filed by the company. Earlier this week, the company’s board gave its approval for `5,000-crore fundraising through the QIP route. […]