GMR to bid for expanison and modernisation of airports in Serbia, Jamaica Posted on 21st June 2017 |
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The GMR group is planning to bid for expansion and modernisation of existing airports in Serbia and Jamaica, as it aims to double airports to 10 under management over the next few years. "We are looking for opportunities both in India and abroad. We have qualified to bid for Belgrade (Serbia) and Kingston (Jamaica) airports," said Sidharth Kapur, president, GMR airports on Tuesday. The group will be partnering with a major European construction firm for Belgrade airport. It is an operational airport with over five-million passenger capacity. The concession period will be for 25 years. Within India, GMR plans to bid for new Bhogapuram airport near Visakhapatnam and privatisation of Nagpur airport. GMR group runs airports in Delhi, Hyderabad and Mactan-Cebu in Philippines. It has won bids to construct a new airport in Goa and to develop and operate an existing airport in Heraklion in Greece. "Our airport business is growing and now contributes around 55-60 per cent to the group's revenue," Kapur said. The group's plan, coming against the backdrop of a turnaround in business, is to further widen its footprint. GMR group posted a net profit of Rs 9 crore in FY17 as against a loss of Rs 2664 crore in FY16. The return to profitability was spurred by good performance in its airport segment. |
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I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019 Posted on 13th December 2019 |
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The Income Tax Department has issued as much as Rs 1.57 trillion of income tax refunds in the first eight-and-a-half-months of the current fiscal compared to Rs 1.23 trillion in full 2018-19 fiscal, Revenue Secretary Ajay Bhushan Pandey said Friday.
At a press conference called to disclose impact of steps taken to boost consumption in the economy so as to uplift growth from a six-year low, Pandey said tax refund cases have gone up by 17 per cent to 2.16 crore. |
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Andhra govt passes 'Disha Bill' to provide speedy trials, stricter punishment for sexual offences Posted on 13th December 2019 |
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In a historic move, the Andhra Pradesh legislative assembly on Friday passed AP Disha Act 2019 to protect women and children in sexual offences cases by providing speedy investigation and justice to victims.
Chief Minister YS Jaganmohan Reddy said the Nirbhaya case and the recent Disha case have compelled the need for AP Disha Act which has many salient features. |
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Tamil Nadu overtakes Karnataka to become No 1 in renewable energy Posted on 13th December 2019 |
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Tamil Nadu has overtaken Karnataka to become India's top renewable power generating state in FY20 (till October).
Of the total renewable power generation in the country, nearly 17.2 per cent was from Tamil Nadu. According to Central Electricity Authority (CEA) data in 2019-20 (upto October) 85,774.92 million units (MU) of power was generated through renewable energy, of which 14,771.69 MU was generated by Tamil Nadu followed by Karnataka (14,730.08 MU), Gujarat (10,505.54), Andhra Pradesh (9,638.70), Maharashtra (8,942.55) and Telangana (3794.99 ). |
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After 50% returns, 2020 may be even better year for Indian primary market Posted on 13th December 2019 |
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India's market for initial public offerings is expected to gather pace in 2020 after this year's relatively small crop saw strong gains in the stock market.
The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show. |
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HDFC rallies 2% to hit all-time high of Rs 2,363; analysts remain bullish Posted on 13th December 2019 |
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Shares of Housing Development Finance Corporation (HDFC) hit an all-time high of Rs 2,363, up 2 per cent on the BSE on Friday after the company completed the acquisition of HDFC Credila Financial Services. The stock surpassed has its previous high of Rs 2,357 hit on July 18, 2019.
"The Corporation has completed acquisition of 11.47 million equity shares, representing 9.12 per cent of total equity of HDFC Credila for a total consideration of Rs 395 crore, from its promoter Ajay Bohora and Anil Bohora," HDFC said in a regulatory filing. |
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