Gold
Apurvakriti Wins Contract for Mumbai Metro Line-4 Track Work
This contract's tracks (Package CA-161) will be installed on the 15.77 km northern portion of Line 4 & 4A between Mulund Fire Station and Gaimukh. A tender notice is currently pending for Line-4's southern leg (Wadala - Mulund Fire Station).
The Mumbai Metropolitan Region Development Authority (MMRDA) had invited bids for this contract in January 2023, with an undetermined budget and a two-year installation deadline. In March, technical bids were opened, revealing five bidders.
Financial Bid Values
Brief Scope: Design, Construction, Manufacturing, Supply, Installation, Testing and Commissioning of Ballastless Trackwork in Mainline from Mulund Fire Station Ch. 18929.611 M to Gaimukh Ch. 34702.272 M including Siding Tracks of Gaimukh Station
Jindal Steel & Power Ltd. (JSPL) was deemed the lowest bidder in February for the supply of 9800 MT of head-hardened rails. A re-tender notice for Line-4's 234 coach rolling stock contract, which was terminated by Alstom Transport in early 2022, is still pending.
Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn
Realty firm Macrotech Developers has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 3.07 billion as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand. In a regulatory filing, the company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital I..
Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep
Tata Steel reported a net profit of Rs 7.58 billion for the September 2024 quarter, helped by lower expenses. It had posted a net loss of Rs 65.11 billion in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. In a separate statement, Tata Steel CEO and MD TV Narendran said the global operating environment remained complex, with key regions facing subdued growth. Macroeconomic conditions in China continued to weigh on commodity prices, including steel. In India, steel demand continued to improve, but domestic prices were under pressure due to chea..
SC to verdict on Nov 7 on plea against NCLAT
The Supreme Court is scheduled to pronounce its verdict on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra will pronounce the verdict which was reserved on October 16. The NCLAT had on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownersh..
