CONSTRUCTION EPC
Valuations of some infra stocks at 2006-2008 high levels
After the blistering rally in 2004-2008, most of these stocks started crashing in January 2008 triggered by the Global Financial Crisis (GFC). The recovery in infrastructure and construction-related stocks began only in 2020-2021 though many of them are still far away from their 2007-08 peaks.
BHEL bags Rs 13,300 cr order to set up 1600 MW-thermal power project
Commensurate with the goal of the central government to ensure the energy security of the country, DVC has finalised the tender for the engineering, procurement and construction (EPC) package of Koderma TPS (2X800MW) in Jharkhand, with Bharat Heavy Electricals Ltd (BHEL) for Rs 13,300 Crore on June 26, 2024, a power ministry statement said.
Noida Airport faces six-month delay, likely to be completed by next year
The Noida International Airport (NIA) completion has been delayed until at least April 2025, primarily due to slow progress on the terminal building, which faces a shortage of special-grade steel. Initially set to open earlier, this delay impacts the project's timeline significantly. Over 20% of the project remains unfinished, with the terminal's façade and waterproofing still underway. Currently, 9,000 workers are on site, completing the ATC tower and finalizing the runway. The first phase costs Rs 10,056 crore.
Kalpataru Projects International bags orders worth Rs 2,333 crore
Kalpataru Projects International (KPIL) announced on Tuesday securing Rs 2,333 crore in new orders. These include Transmission & Distribution (T&D) projects in India and abroad, an EPC contract for a metal industry plant, and a residential building project in India. CEO Manish Mohnot highlighted the strong growth outlook for their T&D and Building & Factories segments.
Noida airport to launch flight service by April 2025 amid construction delays
The Noida International Airport, initially set to launch by September 2024, now expects to start flights by April 2025 due to construction delays. Located in Jewar, near Delhi, the airport's advanced construction includes a runway and terminal. The project aims to accommodate 12 million passengers annually in its first phase.
No construction shall start in proposed Maa Kamakhya Temple Access Corridor until IIT clearance: Assam govt to Gauhati HC
The Assam government informed the Gauhati High Court that no construction will commence in the proposed 'Maa Kamakhya Temple Access Corridor' until necessary clearances are obtained from IIT Guwahati and other relevant agencies. This statement came in response to a writ petition challenging the project, citing potential ecological risks from extensive demolition and reconstruction.
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Gensol Engineering bags another BESS project from GUVNL
Gensol Engineering secures an additional 250 MW/500 MW Battery Energy Storage System Project from GUVNL, increasing its order book to Rs 3,100 crore.
Larsen & Toubro bags 'significant' orders in Hyderabad, Mumbai
The company did not disclose the order value. However, according to its project classification, significant orders value in the range of Rs 1,000 crore to Rs 2,500 crore.
Defence stocks have done it, will the infrastructure sector follow suit? 6 stocks of the highway makers
There are four sectors, Railways, Defence, Infrastructure and PSU as a set of stocks where election results were important due to the fact that policy continuity was seen as major tailwinds. Because the results were not exactly the way the street had expected, there was a sharp reaction in all these stocks after the election results. But within ten days, the majority of the defence stocks are already higher than what they were quoting on the day of elections. The question is whether other sectors also will see a catch up or not. Now there cannot be any doubt that political noise levels are going to remain high and that might create uncertainty at times. It might take a while for some of the sectors to get the momentum back on the street but probability of getting back on track is high as and when the street gets an indication that it is work as usual in the sector.
Road contractors relieved from developing wayside amenities
The step is aimed at attracting global expertise for creating wayside amenities (WSAs) in the country with a stronger focus on design and product innovations to boost return on investment while scaling up the experience of highway users.
Gensol Engineering emerges successful bidder for Rs 1,340-cr battery energy storage project
The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said.
Environment Day: Noida Airport to have 8-acre forest with local species, 133-hectare green area
Noida International Airport (Google Trends): The Noida International Airport CEO Christoph Schnellmann has emphasized a net-zero emissions philosophy. With 580 trees transplanted and an eight-acre forest reserve, biodiversity preservation is a priority. The airport's eco-friendly initiatives include renewable energy and innovative technology to reduce carbon emissions, paving the way for a greener future in Indian air travel.
Infrastructure stocks: With more clarity a stronger round of re-rating in Modi 3.0? 7 infra stock with upside potential of up to 33%
Couple of months back PM Modi had mentioned his priorities of Modi 3.0. The first word which was used was infrastructure and then subsequently others. There should not be any surprise given the fact that even in the last ten years, infrastructure has been a priority. What has changed is that in the first five years, it was the clean up of the books and debt which was taking place. In the next five it was both, lowering debt, higher order book and now with books much better placed, much less litigation, now when the order book gets bigger as the focus on infrastructure continues the increase is likely to be more visible in margins and that increases the probability of even a strong and sustained rating. We take a look at infrastructure makers, which is very different from infrastructure owners. Though in some cases, these companies also have some projects where they have stakes.
PNC Infratech likely to improve performance on order strength
The company's financial performance in the March 2024 quarter was lower than the Street's estimates. The company's standalone revenue increased by 10.8% year-on-year to Rs 2,342 crore.
REnergy Dynamics enters renewable energy space, eyes Rs 5,000 crore order book by 2029
REnergy Dynamics (RED) announced its entry into the renewable energy sector with plans to achieve an order book of Rs 5,000 crore by 2029, currently holding projects worth Rs 575 crore. The company aims to secure orders through large-scale bioenergy projects, EPC services to renewable energy developers, feedstock aggregation for CBG projects, and manufacturing of biogas plant components.
Infrastructure stocks: Stay bullish, hedge to participate in next round of re-rating: 6 infra stock with an upside potential of up to 39%
Among the sectors which have seen a strong re-rating in the last five years, probably infrastructure is amongst the top ones. Like many other sectors here also the re-rating has been largely due to policy push and government spending. If one looks at the performance of the companies in the last five years, there has been clearly strong growth across the board. So, policy continuity becomes critical for this sector and the stocks. The
RSIIL bags two projects worth Rs 4,900 crore from MSRDC to develop connecting Pune
Roadway Solutions India Infra Ltd has won two infrastructure projects totaling Rs 4,900 crore from MSRDC. The projects are to enhance connectivity around Pune. The company is the lowest bidder for the Access Controlled Pune Ring Road project valued at Rs 2,251 crore, and the Expressway Connector project from Jalna to Nanded. These contracts have boosted the company's order book to over Rs 11,000 crore, expanding on the ongoing work on the Vadodara Mumbai Expressway.
Be selective in FMCG stocks, in infrastructure, wait for dips: Gurmeet Chadha
Gurmeet Chadha says one of the main issues with most EPC construction names is the working capital cycle and margins because the projects are long gestation, you do not know what commodity prices would behave and people have some memories of 2003 to 2008 when there was euphoria and followed by a 10-year hiatus.
Gensol Engineering appoints Shilpa Urhekar as Chief Executive Officer of Solar EPC (India)
Shilpa Urhekar appointed as CEO of Solar EPC at Gensol Engineering, with a focus on strengthening India's solar EPC sector. Her experience includes successful project management and growth strategies.
Larsen & Toubro bags multiple orders for buildings, factories business
Larsen & Toubro's buildings and factories business secures a project from Institute of Neurosciences Kolkata to build a medical college and hospital campus in Kolkata. The project, spanning 60 months, includes a 605-bed hospital and a medical college with civil structure and external development works.
K2 Infragen gets Rs 90 cr railway order in UP
EPC company K2 Infragen has won a Rs 90 crore railway bridge project in Chandauli, Uttar Pradesh. The project, awarded by the UP-State Bridge Corporation Ltd, involves constructing a four-lane rail over bridge on the Patna-Mughalsarai section. K2 Infragen expects the project to contribute Rs 35 crore to its revenues for fiscal year 2024-2025.
Gayatri Projects promoters file plea against liquidation
However, a successful outcome is far from easy as any settlement with promoters under Section 12A of Insolvency and Bankruptcy Code (IBC) needs approval from 90% of lenders.
R Shankar Raman elevated as President of L&T
The company's Senior Executive Vice President (EVP), Energy, Subramanian Sarma has been elevated to whole-time Director and President, Energy. Currently, Sarma's resposibilities include hydrocarbon, power, and green manufacturing and development businesses. Raman joined the L&T Group in November 1994 to set up L&T Finance Ltd, a wholly owned subsidiary. He later assumed the role of CFO at L&T and was appointed to the board in October 2011.
Sunkind Energy gets 10 MW rooftop solar projects in four states
The five projects will be set up on EPC mode in Punjab, Haryana, Rajasthan and Chhattisgarh. The company aims to complete the projects by July 2024, Hanish Gupta, Founder and CEO of Sunkind Energy, said.
We have returned to profitability: Vinayak Pai, MD & CEO Tata Projects
"I feel proud to announce that we have returned to profitability, and we are moving forward on our path to deliver predictable and sustainable projects through innovation and technology," Vinayak Pai, MD & CEO at Tata Projects said.
Road construction in India to witness 7-10% slowdown in FY25 due to challenges in execution: CareEdge Ratings
Road construction in India is expected to slow down by 7-10% in FY 2024-25, with daily construction dropping to 31 km from 34 km in FY 2023-24, due to challenges in execution. Delays in receiving appointed dates and complexities in projects contribute to a longer completion cycle, hindering infrastructure development.
Realty developer Tarc Ltd reports 200% growth in pre-sales
The fourth quarter of FY2023-24 witnessed exceptional sales, with TARC Limited recording sales amounting to Rs 1,281 crore. This staggering growth of over 600% on a year-on-year basis can be attributed largely to the success of the recently launched project, TARC Kailasa, located in New Delhi.
Larsen & Toubro bags major gas pipeline project in Middle East
The scope of work comprises Engineering, Procurement, and Construction (EPC) of two new pipelines along with associated work parallel to the existing pipeline corridor, the infrastructure major said in a statement. The major onshore gas pipeline project has been received by the company's hydrocarbon vertical L&T Energy Hydrocarbon - LTEH, it said.
Road builders may be liable for 10 years
Under the EPC mode, the maintenance of highways is the responsibility of the central government after the defect-liability period is over. The contractor is responsible for maintenance during the defect-liability period. The ministry has earmarked Rs 2,600 crore for road maintenance in 2024-25, the same as the budgetary and revised estimates for 2023-24 but a tad higher than the Rs 2,573.66 crore spent in 2022-23.
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