Mar 20, 2016

Railways, ISRO to sign MoU over Remote Sensing, GIS Technologies

ISRO Railways tie up

New Delhi: Aiming at effective use of space technology in remote sensing and graphic information system (GIS) based applications, Railways is set to join hands with Indian Space Research Organisation (ISRO).

An MoU will be signed between Railways and ISRO, under Department of Space, tomorrow for developing applications in the field of remote sensing and GIS.

Maharashtra Govt to give 3 Hectares in Aarey Land for Metro-III Car Shed

Mumbai: he state government has decided to hand over three hectares of land at Aarey Colony to Mumbai Metro Rail Corporation (MMRC) for the Metro-III project. Sources said this makes it clear that the government has decided the Metro-III car shed will come up at Aarey Colony, a move being strongly opposed by citizens who say it will disturb the area’s eco-system. However, the project was dealt a major blow in the BMC, where the Shiv Sena teamed up with the Congress to reject handing over of 17 civic plots crucial to the project.

In a government resolution on Wednesday, the agriculture, animal husbandry and dairy development department said it was handing over three hectares of land to the MMRC, the executing agency of Metro-III, to construct a car depot workshop and commercial use. “The handover of this land has been done, but the National Green Tribunal order on Aarey Colony, to preserve the eco-sensitive zone, should be kept in mind when using it and right to change reservation of the land for commercial use will remain with the urban development department,” says the GR. MMRC managing director Ashwini Bhide was unavailable for comment.

Rating Agencies says L&T Hyderabad Metro project prone to Risks

Hyderabad: Larsen & Toubro’s delayed Rs 16,000 crore metro rail project in Hyderabad is prone to significant risk in terms of the time it will take to complete as well as revenues it will earn thereafter, rating agencies have said.

The project has suffered substantial delays owing to various constraints including Telangana government’s advocated route chang es. Underscoring the apprehensions repeatedly expressed by L&T Metro Rail on the project’s economic viability, India Ratings said said it was sceptical about the actual usage of the metro rail in terms of ridership.

MIC Electronics surges 20% on Display Network order

“MIC Electronics, Leyard Optoelectronic (Beijing) and Associated Advertising, led by MIC has been selected by RailTel Corporation of India, for conducting proof of concept phase of proposed network for six months at Vadodara, Ahmedabad, Allahabad, Naini and Jasra Stations,” says the Hyderabad-based company in its filing.

MIC Electronics shares shot up 20 percent intraday Monday on railway display network order from the government company.

“MIC Electronics, Leyard Optoelectronic (Beijing) and Associated Advertising, led by MIC has been selected by RailTel Corporation of India (Ministry of Railways), for conducting proof of concept phase of proposed network for six months at Vadodara, Ahmedabad, Allahabad, Naini and Jasra Stations,” says the Hyderabad-based company in its filing.

Railway display network project that envisages networking of about 90,000 digital display screens on more than 2,000 railway stations across the country, is estimated to cost around Rs 2,000 crore.

Network is primarily meant for displaying information related to passenger amenities, comfort, convenience and safety. Display infrastructure will also be utilised for commercial advertising. At 15:05 hours IST, the scrip of MIC Electronics was quoting at Rs 21.95, up Rs 3.25, or 17.38 percent amid high volumes on the BSE.

US shows how Railway Stations can put Realty Growth on track



New Delhi: In giving its station a makeover, the Indian Railways can learn a lot from projects in developed countries that make optimal utilisation of real estate. This realisation was put to practice at the day-long workshop on Monday organised by the Indian Railway Station Redevelopment Corporation (IRSDC) and World Resource Institute (WRI)-India, where the Hudson Yards redevelopment project in New York was discussed.

The Hudson Yards project involves five 50-90 storeyed commercial-cum-residential towers, malls and large public squares on a 28-acre expanse. The entire complex is being constructed over an operational rail yard. Urban development experts cite this as an example that can be emulated by Indian railway networks.

IRFC’s Tax-free Bonds Oversold Four Times higher than planned

Mumbai: Indian Railways Finance Corporation’s tax-free bonds were oversold, almost four times higher than it had planned. With this, the issuer marked the season’s end although the issue would remain open for subscription till Monday next as the retail portion is not fully subscribed.

The company on Thursday received bids for Rs 9,452 crore against Rs 2,450 crore, the total issue size.

CR seeks Funds for 285 AC Coaches on Suburban Routes

Mumbai: Central Railway (CR) may ask the railway board to sanction funds for procurement of 285 air-conditioned coaches for the suburban system. Mumbai is expected to get 285 non-AC coaches as part of the 12-car Harbour line project and Seawood-Belapur-Uran line. Of these, 153 are for the Harbour line.

CR General Manger S K Sood said, “We are thinking of asking the board to allow purchase of AC coaches.” A senior CR official said, “We have to look at the long-term, as AC coaches with a closed-door system will prevent people from travelling on the foot-board. It will definitely end deaths due to falling from running trains.”

NIIT Tech wins Best Service Provider Award from German Railways

Christa Koenen, CEO, DB Systel said, “This award acknowledges our partner who has delivered the highest quality of work and exceptional customer value. NIIT Technologies has consistently demonstrated these capabilities and is our trusted partner”
SEZ Campus of NIIT Technologies is located in Greater Noida, India

NIIT Technologies Ltd., a leading global IT solutions organization, has secured ‘Best Service Provider’ award by DB Systel, the ICT subsidiary of Deutsche Bahn (German Railways). The company has won this award across the entire partner landscape of DB Systel including global system integrators, local and offshore IT partners. The award is conferred on the basis of an annual customer satisfaction survey, regular assessments and strict quality parameters.

The government will sell 5% stake in Container Corporations of India (CONCOR) at a minimum price of Rs 1,195 a piece, to garner Rs 1,165 crore

Container Corporation of India Ltd (CONCOR) announced that President of India, acting through the Ministry of Railways, Government of India has submitted to BSE a Notice of Offer to sell up to 97,48,710 equity shares of the Company of face value of Rs.10 each, representing 5% of the total paid up equity share capital of the Company (“the Offer Shares”) on March 09, 2016, (for non-Retail Investors) and March 10, 2016 (for Retail Investors and non-Retail Investors.

The floor price for the Offer shall be Rs.1195 (Rupees One Thousand One Hundred and Ninety Five) per equity share of the Company.

Competitive bidding to help Railways cut Power Bill by Rs 3000 Crore per year



Thanks to the adoption of competitive bidding route for buying electricity, Indian Railways (IR) is expecting annualised savings of Rs.3,000 crore starting 2016-17 in maintaining the current level of traction
New Delhi: Thanks to the adoption of competitive bidding route for buying electricity, Indian Railways (IR) is expecting annualised savings of Rs.3,000 crore starting 2016-17 in maintaining the current level of traction.

Last year, IR began purchasing power through the competitive bidding route as opposed to its earlier practice of buying directly from state-owned DISCOMs, which charge the transporter commercial rates.

Oriental Veneer Products Ltd bags Orders worth Rs.27.90 Crore from Railways

Oriental Veneer Products is currently trading at Rs. 877.00, up by 4.50 points or 0.52% from its previous closing of Rs. 872.50 on the BSE.
The scrip opened at Rs. 860.50 and has touched a high and low of Rs. 877.00 and Rs. 860.50 respectively. So far 11,000 shares were traded on the counter.
The BSE group ‘XD’ stock of face value Rs. 10 has touched a 52 week high of Rs. 878.75 on 04-Mar-2016 and a 52 week low of Rs. 245.00 on 09-Apr-2015.
Last one week high and  low of the scrip stood at Rs. 878.75 and Rs. 816.25 respectively. The current market cap of the company is Rs. 472.73 crore.
The promoters holding in the company stood at 54.25% while Non-Institutions held 45.75% respectively.
Oriental Veneer Products has received purchase orders during period commencing from December 01, 2015 to January 31, 2016 from the Indian Railways. The cumulative estimated value of orders is Rs 27.90 crore.
Oriental Veneer Products is a public limited company and promoted by the Mithiborwala group. The group is actively involved and engaged in the manufacture of wood based resin impregnated densified laminated boards (Compreg) for over 30 years now.

IR staring at Rs.6095 crore Negative Fund balance next Fiscal

Indian Railways is staring at an overall negative fund balance of Rs 6,095 crore next financial year despite the rail ministry’s claim that it will manage to successfully handle the impact of the Seventh Pay Commission recommendations on its financial health.

The balance of the six reserve funds of Indian Railways – Depreciation Reserve Fund (DRF), Development Fund (DF), Pension Fund (PF), Capital Fund (CF), Debt Reserve Fund and Safety Fund – are a measure of its flexibility to meet expenditure and asset expansion.

 

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