NBCC up on new order from DDA
Shares of National Buildings Construction Corporation (NBCC) gained by 6%, touching to Rs933.9, on order for project development from Delhi Development Authority ( DDA). National Buildings Construction Corporation announced that DDA has entrusted NBCC the project for Development of Lake View Complex, based on Transit Oriented Development ( TOD) norms on 25 acres DDA land at Trilokpuri, Delhi.
Pro Fin Capital arm to start commercial operations in July 2015
Pro Fin Capital Services announced that the Company’s subsidiary company, Tera Natural Resources And Pellets ( TERA) has obtained necessary approval from the Office of the Director General of Mines for bauxite mining in the Kolhapur District, Maharashtra. The total reserves in the mines are estimated to be 25 million tones.
HCL Technologies allots 29,320 Equity Shares under ESOPs
HCL Technologies Ltd has informed that the Employees Stock Option Allotment Committee of the Company has on June 25, 2015 allotted 29,320 Equity Shares of Rs2 each, under the 2004 Stock Option Plan of the Company. Consequent to the said allotment the paid-up share capital of the Company has gone upto 1,405,978,418 equity shares of Rs. 2/- each aggregating to Rs2,811,956,836
ICICI Bank reduces base rate
ICICI Bank announced a reduction of 5 basis points in its base rate to 9.70% per annum from 9.75% per annum with effect from today, June 26, 2015. With effect from July 01, 2010, interest rates on new loans and advances, including consumer loans, are determined with reference to the bank’s base rate, ICICI Bank said.
SBI cuts bulk deposit rates by 50-75 bps
SBI cuts bulk deposit rates by 50-75 bps which will marginally bring down cost of funds and help margins–positive
Railways to spend Rs8.50 lakh crore over next 5 years
Railways to spend Rs8.50 lakh crore over the next five years to modernise Indian Railways: Positive for railway related stocks like Texmaco, Kalindee apart from general infra companies like L&T .The railways minister shared that the government would be spending Rs8.50 lakh crore ($125 billion) over the next five years to modernise Indian Railways. Indian Railways has already received a 30-year loan from LIC with a moratorium of five years and pension funds too are willing to fund.
Aviation ministry clears proposal for second airport in NCR
The aviation ministry cleared a proposal on Thursday to set up a second airport in the national capital region (NCR) that’s likely to halve passenger traffic at Delhi’s Indira Gandhi International Airport.
We see this development positive for Delhi (NCR) based real estate players. With the increase in passenger traffic and new airport, the demand for housing would improve significantly.
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