Jan 20, 2015

Gateway Distriparks hits new high on hopes of Gateway Rail Freight IPO

मुंबई Mumbai: Gateway Distriparks has surged 10% to Rs 400 on National Stock Exchange (NSE) after Blackstone GPV Capital Partners requested the company to effect initial public offer (IPO) of Gateway Rail Freight Limited.

“Blackstone GPV Capital Partners (Investor) have sent a letter dated January 16, 2015 to the company and the company’s subsidiary company – Gateway Rail Freight Limited (GRFL) requesting the company to effect an IPO of GRFL in accordance with the terms of the Share Subscription & Shareholders Agreement (SSHA) dated November 09, 2009,” Gateway Distriparks said in a BSE filing.

The company will respond to the request from the investor in due course. This will have no impact on the operations or profitability of the company, it added.

In November 2009, Blackstone Group announced the acquisition of a 37.5% stake for Rs 300 crore in Gateway Rail Freight.

The stock opened at Rs 369 and touched a record high of Rs 407 on NSE. The counter has seen huge trading volumes with a combined 648,450 shares changed hands till 1010 hours on NSE and BSE.

Source - Rail News

Railway’s Security App a hit among Women; 27,321 Messages in 7 Days

मुंबई Mumbai: THE security system launched recently for the Railways by a mobile application service provider has generated considerable interest among women commuters, with the Railway Protection Force (RPF) data revealing that 27,321 SMSes were received in a week. To create awareness, RPF women staff members are providing training to women commuters.

Amid concerns of a rise in crime against women commuters, Railway Minister Suresh Prabhu had launched the Mobile App at the Western Railway general manager building, near Churchgate station, on January 9. The app, which is especially for women commuters, is meant to assist passengers avail of immediate help from the Railway Protection Force (RPF) while travelling by local trains.

East Coast Railway Engineers Association presents their Demands before 7th CPC

भुवनेश्वर Bhubaneswar (BBSR): A delegation of East Coast Railway Engineers Association (ECoREA) met the members of the seventh Central Pay Commission (CPC) at Kolkata recently.

The delegation presented six demands on behalf of the railway engineers. Raising the issue of assured promotional prospects, the ECoREA brought to the notice of CPC that graduate engineers are not getting promoted during their entire service period while other categories of engineers get promoted multiple times including diploma engineers who are getting promoted at least once.

Railways posts 12.23% jump in Freight earnings between April-Dec 2014

नई दिल्ली New Delhi: Indian Railways has posted over 12 per cent growth in earnings from freight traffic between April and December, 2014.

While it had earned Rs 67,705.11 crore from freight traffic during April-December 2013, it collected Rs 75,986.04 crore in the corresponding period last year – the increase in revenue standing at 12.23 per cent, the government said in a statement here.

ECR implements Policy on Transfer of Railway Tickets

पटना Patna (PNBE): With a view to making journey more comfortable for passengers, the East Central Railway (ECR) has fully implemented the new commercial policy under all its five divisions with regard to transfer of the confirmed journey ticket in the name of any blood relation of the same gender category in the family.

A Railway Board official said this facility has evoked good response across the country. Railways, which was finding it difficult to refund the confirmed tickets, is now allowing the passenger to transfer it in the name of his or her blood relation checking the activities of touts to some extent, he said. ECR CPRO Arvind Rajak said Railway Board recently formulated a new policy under which a kin of same gender of the passenger having confirmed ticket is now entitled to travel in case he cancels his journey, he said, adding this facility is available at all major stations including Patna Junction.

Blackstone seeks IPO for portfolio firm Gateway Rail Freight

मुंबई Mumbai: Private equity firm Blackstone has sought a public listing of Gateway Rail Freight Ltd (GRFL), which could open the window for an exit from its over five-year-old investment in the subsidiary of Gateway Distriparks Ltd (GDL), as per a stock market disclosure.

Blackstone has written to Gateway Distriparks seeking an IPO of GRFL in accordance with the terms of the share subscription & shareholders agreement dated November 9, 2009, Gateway Distriparks said in the filing. An email query sent to Prem Kishan Gupta, Deputy Chairman & MD and R Kumar, deputy CEO & CFO of Gateway Distriparks, for more information, did not elicit any response till the time of filing this article.

Responding to a separate email query to the spokesperson of Blackstone on whether it wants to fully or partly exit its investment, the firm said it did not wish to comment on the development.

Indian Railways Solar Policy on cards; Railway Budget to prioritise Green Energy

Rail solar policy may target 1k mW

नई दिल्ली New Delhi: It may also give more attention to conservation and efficiency measures by introducing energy-efficient lighting and equipment, and deployment of new generation electric locomotive and Electrical Multiple Units (EMUs).

Sources said rail minister Suresh Prabhu sat with the newly constituted Directorate of Environment this week to shortlist priorities for green initiatives. The directorate, which has a full time director as well as representatives from all sectors of the railways, is believed to have suggested lighting up more and more stations and level crossings with solar energy.

Government want Private Capital for Railways, not Privatisation: Railway Minister

सिकंदराबाद Secunderabad (SC): Railway minister Suresh Prabhu on Monday mooted the idea of foreign pension funds being invested in initiatives to raise financial resources for the railways.

“Financial investment is also necessary. That’s why we talked about not our pension funds. We are talking about foreign pension funds which would be invested in Indian railways as a loan,” he said at the 15th national seminar on “PPP and FDI in Indian railways” organised by the Centre for Transportation Research and Management (CTRAM) here.

KCR seek Railways cooperation to develop 2 new rail Terminals in Hyderabad

हेदराबाद Hyderabad (HYD): The Telangana government today requested Railway Minister Suresh Prabhu to upgrade and develop two existing railway stations located on the outskirts of Hyderabad into full-fledged terminals in order to ease pressure on the Secunderabad railway station.

Chief minister K Chandrasekhar Rao brought this and other issues to his notice when the latter met him at the secretariat this afternoon.

The chief minister informed Prabhu that the increase in population of Hyderabad and Secunderabad had put a lot of pressure on the Secunderabad railway station. The minister agreed to examine the suggestion that the existing railway stations at Moula-Ali and Nagulapally needed to be upgraded to ease the situation, according to the chief minister’s office.

KCR accuses SCR of blocking the Hyderabad Metro Rail project

Railway Minister reiterated the demand of Railways for payment of ‘Traffic Block Charges’ by the Telangana State government in implementation of prestigious Hyderabad Metro Rail project.

हेदराबाद Hyderabad (HYD): Chief Minister K. Chandrasekhar Rao on Monday accused the South Central Railway of blocking the Hyderabad Metro Rail project under one pretext or the other.

DG/Rail Health Services inaugurates 44th Annual Scientific Seminar & CME Programme

Scientific seminar & doctors meet of BR Singh hospital held

कोलकाता Kolkata (KOAA): Dr. M. K. Budhalakoti, Director General, Railway Health Services inaugurated the 44th Annual Scientific Seminar & CME Programme of Eastern Railway’s B R Singh Hospital alongwith 15th Annual Conference of Indian Railway Public Health Association at Eastern Railway, Howrah. R. K. Gupta, General Manager, Eastern Railway and Mr Radheyshyam, General Manager, South Eastern & Metro Railway have graced the occasion.

Railway Minister looks to tap Overseas Pension Funds for development of Rail projects

Making a point Union Railways Minister Suresh Prabhu and Member (Traffic) of the Railway Board, DP Pande, at a seminar organised by the Centre for Transportation Research and Management (CTRAM) in Secunderabad

सिकंदराबाद Secunderabad (SC): The Union Railway Minister Suresh Prabhu on Monday called for tapping overseas pension funds to raise financial resources for the Railways.

Apart from the domestic pension fund, foreign pension funds could be tapped to get cheaper loans for infrastructure and network expansion, Prabhu said.

The notification and application format for Selection of shunting master (GP-2400)





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