Sector: Infra
Sona acquires Railway Equipment Division from Escorts
Sona BLW Precision Forgings (Sona) has entered into an agreement to acquire the Railway Equipment Division (RED) of Escorts Kubota (Escorts). RED of Escorts is a leading supplier of critical components for Railways, such as brakes and suspension systems for various rolling stocks. The division reported revenues of Rs 950 cr in FY 24. In … Read more
Reliance Infra settles Rs 235 cr debt with Edelweiss and Rs 600 cr with LIC
Reliance Infrastructure Ltd announced the settlement of Rs 235 crore in dues owed to Edelweiss Asset Reconstruction Company Ltd (Edelweiss), marking another significant development in the company’s debt resolution efforts. The announcement was made through an exchange filing on Wednesday, at the same time the company stated that it had also reached a Rs 600 … Read more
RBI looks to soften blow of tighter infrastructure funding rules
The Reserve Bank of India (RBI) is contemplating a staggered implementation of the increase in provisioning for project financing to soften the blow on lenders and give them ample time to prepare for any impact on profitability. Projects nearing completion may also be given some leeway in provisions, people familiar with RBI’s plans said. Facing … Read more
Gautam Adani plans to cede control to family by early 2030s
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday. When Adani retires, his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar … Read more
‘Bright future for air cargo sector, needs faster turnaround time’
To tap the potential of the country’s air cargo sector, the focus should be on further improving processes as well as ensuring faster turnaround time, a senior government official said on Thursday. “The government is working on developing logistics hubs,” he added. Piyush Srivastava, Senior Economic Advisor at the Ministry of Civil Aviation, said that … Read more