Gold
Cube Highways Trust set to procure 7 highway assets
Cube Highways Trust, managed by Cube Highways Fund Advisors, announced on Thursday its intention to acquire seven highway assets from Singapore-based Cube Highways and Infrastructure III and Cube Highways Infrastructure at an enterprise value of Rs 51.72 billion. The highway assets, comprising six hybrid annuity model (HAM) assets and one build-operate-transfer (BOT) asset, cover approximately 2,200 lane kilometres and are situated across Andhra Pradesh, Maharashtra, Telangana, and Tamil Nadu, as stated by Cube Highways Trust.
In a statement, Cube Highways Trust expressed, "Cube Highwa..
Telangana CM unveils Rs 1-trillion Musi riverfront plan
Chief Minister A Revanth Reddy announced the state government?s ambitious plan to revitalise the Musi riverfront, stating that Rs 1 trillion would be allocated for the project. He made this announcement while addressing a gathering at a street corner in Rajendranagar in support of Congress candidate G Ranjith Reddy for the Chevella Lok Sabha seat.
Revanth pledged to spearhead efforts to combat pollution in the area, thereby enhancing the land value. He outlined plans to develop Himayath Sagar and Osman Sagar, alongside transforming Vikarabad into a prominent tourist destination. Empha..
Telangana HC Seeks Lake Records
The Telangana High Court has issued a directive demanding government officials to furnish comprehensive records related to lakes within the state's buffer zones. This move comes amidst growing concerns over a contentious real estate project's potential impact on the region's sensitive ecological balance.
The court's intervention follows a petition filed by environmental activists and concerned citizens, challenging the legality of a proposed real estate venture situated within the buffer zone of several lakes. Allegations of potential environmental degradation and violation of regulato..
L&T subsidiary opens new manufacturing unit in Saudi Arabia
L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.
The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..
LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn
LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.
Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..
