Kalindee Rail Nirman, a Delhi-based firm which was merged with Kolkata-based Texmaco Rail Engineering Ltd in 2015, has written to the Dedicated Freight Corridor Corporation Limited proposing to take over the signaling project in Uttar Pradesh.
The Rail Budget has tried to ensure continuity in policies for completion of ongoing projects along with an attempt at PPP in the current financial plan, says Sandeep Fuller.
Asian markets trade higher tracking gains in US equities. Markets are also reacting to the Chinese trade data which recorded a trade surplus of USD 31.86 billion higher than estimates of USD 27 billion.
Kalindee Rail has decided to issue 24.90 percent equity shares to Texmaco on preferential basis, but the stock erased all its gains in afternoon trade.
Railway stocks are in focus on Tuesday as railway minister Pawan Kumar Bansal will deliver his maiden Rail Budget at 12 pm in the Lok sabha today. Six out of eight stocks were under pressure.
Railway stocks gained huge buying interest in late trade on Wednesday after Railway Minister Pawan Kumar Bansal announced a hike in railway fares, the first in the last 10 years.
Shares of companies related to the Indian Railways network were in focus today in the wake of the annual Union Rail Budget, while stocks like Kalindee Rail Nirman and Texmaco witnessed hectic buying.
AP Verma, director of finance of Kalindee Rail Nirman (Engineers) Ltd spoke to CNBC-TV18 about his hopes from the Railway Budget apart from divulging details of the new deals worth nearly Rs 100 crore the company has bagged.
Director of Kalindee Rail Nirman, Arvind Gemini, says that he hopes to bag orders worth Rs 300-500 crore of orders from Rail Vikas Nigam Limited (RVNL) by March-June next year.
Kalindee Rail Nirman slumped close to 12% on debt concerns. The debt on the company's book is at Rs 75 crore. AP Verma, director of finance at Kalindee Rail Nirman spoke about the latest happenings in the company and gave a perspective on the business going ahead.
AP Verma, director of finance, Kalindee Rail Nirman in an intervew to CNBC-TV18 said the company's current order book stands at about Rs 600 crore. The company has submitted lot of bids for projects which offer good value and is awaiting results.
Kalindee Rail Nirman (Engineers) today said it has bagged orders worth over Rs 101.44 crore for railway projects in Bangladesh and India.
Kalindee Rail Nirman's general manager of finance, AP Verma told CNBC-TV18 that the company is expecting a growth of around 30-40% for this fiscal year. He also said that they had submitted their bids for the railway siding works and Rail Vikas Nigam (RVNL) worth Rs 1000 crore and Rs 700-800 crore respectively.
AP Verma, Director of Finance from Kalindee Rail Nirman, in an interview with CNBC-TV18's Sonia Shenoy and Reema Tendulkar, said that the company expects 40% growth compared to the last year.
CNBC-TV18 catches up with Arvind Gemini, director, Kalindee Rail Nirman to discuss the growth prospects of the industry under the new regime. He said he expects the Mamata government to push for quick execution of the pending projects.
Railways Minister Mamata Banerjee vowed to support the "common people" as she unveiled her third annual budget on Friday that promised to invest Rs 57,630 crore (USD 12.68 billion) in the network in the financial year 2011-12.
In an interview with CNBC-TV18, P.Verma, Director of Finance, Kalindee Rail Nirman, speaks about his expectation from the upcoming railway budget.