Gangaikondan IT SEZ to be ready by Nov

Man Infraconstruction saw a rise in quarterly net profit

Man Infraconstruction Ltd. showed an over-twofold rise in its standalone net profit to Rs 0.66 billion for the March quarter, increasing over Rs 0.29 billion during the fourth quarter of the last fiscal. The rise was seen on account of lower expenses.

EPC company Man Infraconstruction specialises in infrastructure, ports, commercial projects, institutions, IT projects, futuristic lifestyle homes, etc.

Man Infraconstruction reduced their expenditures from Rs 3.32 billion to Rs 1.14 billion in the previous year.In the fourth quarter of FY23, the firm reduced its cost of material..

Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations

Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.

Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..

Revolutionizing Concrete Infrastructure: Ajax Engineering's Milestone

Ajax Engineering, a pioneering force in the construction industry, has reached a monumental achievement by becoming the first to export slip-form pavers, a cutting-edge technology that promises to revolutionize concrete infrastructure projects worldwide.

With a commitment to innovation and excellence, Ajax Engineering's slip-form pavers represent a quantum leap in the construction of concrete infrastructure. These state-of-the-art machines enable the seamless and precise pouring of concrete, ensuring unparalleled accuracy and efficiency in project execution.

Designed to meet ..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..

Nalanda Capital Sells Stake in Great Eastern Shipping

Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.

The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..