Highways Financial News

Indian carmakers have rolled out more sports utility vehicles than all other types of passenger vehicles combined in the last two years and the trend is likely to continue with many new SUVs proving instant hits. The number of SUV launches hit a new high this calendar year at 108, reaching the three-figure mark for the first time. In the overall passenger vehicle segment, though, there have been fewer launches in 2023 than in the pre-pandemic 2019 with hatchbacks and sedans taking a hit, data collated by automotive market research firm Jato Dynamics shows. Only 47 new sedan models hit the road this year (till October end) against 62 in 2019 while the number of hatchback launches more than halved to 21 from 48. The increased focus on SUVs reflects a major shift in the Indian passenger car market in the last few years.

Rajnath Singh said India has emerged as a global growth engine and is providing a new direction to the world. The minister emphasised that the growth story has showcased that there is no trade-off between economic growth and distributive justice. «Our growth model shows that equal opportunities to everyone and the accelerated growth rate can be achieved simultaneously,» the minister said at Ficci's 96th annual general meeting and annual convention in New Delhi. He added that the growth being achieved is sustainable and has not come at the cost of environmental degradation. «We have chosen the path of green growth.

fake toll plaza on the Bamanbore-Kutch national highway in Gujarat's Morbi district, according to a report published by NDTV. The deceptive toll collection point was being operated on private land.

Tata Motors subsidiary, Tata Passenger Electric Mobility Ltd. (TPEM), signed a Memorandum of understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to install 7000 Electric Vehicle (EV) charging points across India by 2024 on December 8, 2023. The location of these EV charging points is going to be determined by using the insights collected from over 1.15 lakh Tata EV users on Indian roads and BPCL's fuel station network.

Chevrolet Volt after receiving several complaints about the performance of the plug-in hybrid vehicles.The move follows the U.S. National Highway Traffic Safety Administration’s (NHTSA) opening of a preliminary investigation into 73,000 Chevy Volts over reports of abrupt loss of power, failures to restart and other issues.The NHTSA is evaluating 2016 to 2019 Volts manufactured by General Motors.So far, the American regulator has received 61 complaints related to the car’s battery energy control module (BECM).

Mint explains why the city, which prides itself as an ideal investment destination, needs to do a lot more. The slow-moving cyclone dumped an unprecedented 43 cm of rain in just 35 hours leading to massive flooding across the city. This caused a major power outage which lasted more than 36 hours and it disrupted telecom services, including the internet.

Amid delay in the launch of the battery swapping policy Union minister for road transport and highways Nitin Gadkari on Tuesday said that NITI Aayog is talking to all stakeholders on the draft policy to ensure that it is prudent and does not impact technological innovation. In a written reply to a question in the Rajya Sabha, the minister said that electric vehicle battery ecosystem is a complex domain involving variety of technologies which are still evolving.

JSW Infrastructure Share Price Today: Shares of JSW Infrastructure were locked at 8 per cent upper circuit at ₹245 apiece on the BSE, hitting its 52-week high mark on Wednesday, December 6. Domestic brokerage firm JM Financials has reiterated its ‘buy’ rating for the stock and raised the target price by 2 per cent over the recent uptrend in share price. At a current market price (CMP) of ₹238, JM Financials has given a revised target price of ₹255 for JSW Infrastructure, which is 2 per cent higher than the previous target of ₹250 given in March 2023 and sees a potential upside of 12.3 per cent on the stock.

Motilal Oswal Financial Services noted that NHAI would pick up the pace in December, but even so, most road construction companies have reduced their order-inflow guidance for FY24. On the other hand, road construction has gathered pace.

Sukhdev Singh Gogamedi, the Rajput community has declared a statewide bandh on Wednesday. Sukhdev Singh Gogamedi, the leader of Rashtriya Rajput Karni Sena, was fatally shot by unidentified individuals on motorcycles in Jaipur on Tuesday. Here are the top ten updates on the Rajasthan Bandh.

New Delhi: India is looking to create a tunnel safety system as part of a broader effort to fortify the extensive tunnel network across highways, railways and metro systems in the country, people familiar with the development told ET. This will include forming an audit team with experts from various IITs and setting up a world-class tunnelling centre under IIT Delhi to research and propose enhanced safety measures for tunnels that are benchmarked to international levels, the people said. They added that the move is aimed at preventing recurrence of mishaps like the recent Silkyara tunnel collapse in Uttarakhand in future.

U.S. auto safety regulators say they are monitoring data from a group of mostly unrecalled Takata air bag inflators after one of them exploded in a BMW and hurled metal fragments that seriously injured a driver in Chicago

₹15,000 crore. Whitefield, in short, is a microcosm of the huge spurt in construction across Indian cities—even in smaller towns. The evidence is in numbers.

textiles ministry has mapped eight sanctioned PM Mitra Parks on the PM GatiShakti National Master Plan (NMP) portal while the pharmaceuticals department has reported the successful completion of 129 pharma clusters and 23 medical device cluster projects. These came up at the 61st Network Planning Group (NPG) meeting, marking two years of PM GatiShakti NMP. Special Secretary (Logistics), Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra chaired the meeting on December 1. As per a government release, the animal husbandry and dairying department has mapped all training institutes across India. “The Ministry of Railways and the Ministry of Road Transport and Highways presented details on commissioned and ongoing projects, with an emphasis on critical infrastructure,” the commerce and industry ministry said in the release. The meeting reviewed the status of mapping of existing and proposed economic zones at NMP platform, and 100 identified critical infrastructure projects, and there was participation from over 60 officials of various departments. Dawra highlighted the achievement of PM GatiShakti NMP such as onboarding of 39 individual line ministries and 36 states and union territories, and uploading of 1,463 data layers.

David Ward, executive president, Global New Car Assessment Programme (Global NCAP) said. “India, a country with one of the highest fatal road accidents, should avoid going the United States way of going in for more sports utility vehicles (SUVs) as they make the roads less safe for other small car occupants, pedestrians and cyclists,” he said.

Circuit to circuit stock: Shares of Hazoor Multi Projects Ltd have been in uptrend for the last two weeks. After remaining in base building mode, this multibagger infrastructure stock came out of the base building mode and bottomed out at around ₹138 apiece levels on BSE. As per the information available on BSE, this circuit to circuit stock has been hitting upper circuit for the last seven straight sessions.

Logistics (I&L) sector in Kolkata will record a 5-year high supply in 2023 as a result of the completion of pent-up projects across the city and its peripheries. Total I&L supply in 2023 is likely to touch 5.2 mn. sq. ft.

JSW Infrastructure said Monday that it will acquire a majority stake in PNP Maritime Services (PNP Port) from Shapoorji Pallonji (SP) Group for a cash payment of ₹270 crore. PNP Port operates multi-purpose jetties at Shahbaj, Raigad district of Maharashtra, about 20 nautical miles from Mumbai Anchorage. JSW Dharamtar Port, a wholly-owned subsidiary of JSW Infrastructure, has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company. The acquisition values PNP Maritime Services Port at an enterprise value of around ₹700 crore, the company said in a press statement. The 5 million tonnes per annum (MTPA) is about 20 nautical miles or 37 kilometres from Mumbai Anchorage. The company said that the PNP Port is expected to strengthen its position to provide hub-and-spoke model logistics services to its customers, which can potentially save substantial costs. JSW Infrastructure intends to upgrade the PNP Port facilities and expand its capacity from current 5 MTPA to 19 MTPA in a phased manner. «The acquisition of PNP Port is a strategic asset for JSW Infrastructure.

Tamil Nadu has been pounded by heavy rainfall, as several parts of the state's capital city Chennai were water logged and holidays were declared in four districts. Visuals emerged of water logged roads, subways, parked cars and scooters floating, ambulances making way through flooded roads in Chennai. Amid all occurrences ahead of Cyclone Michaung's landfall, expected to happen on Tuesday morning, a video emerged of a ‘mugger’ crocodile crawling on a road in Perungalathur off the highway connecting Chennai with Tiruchirapalli.

₹3.25 lakh crore for the fiscal year 2024-25 from the Ministry of Finance, which is a 25 percent increase compared to the previous year, according to a report by Moneycontrol. The government aims to maintain minimal market borrowings for the National Highways Authority of India in the upcoming financial year, government officials said.

Ministry of Roads Transport and Highways (MoRTH) plans to introduce cashless medical treatment to all injured road accident victims across the nation within the next three to four months, road secretary Anurag Jain said. “The free and cashless medical treatment to accident injured victims is part of the amended Motor vehicle Act 2019 (MVA, 2019). Some states have implemented it but now the ministry of roads in league with the ministry of health and family welfare will be fully implementing it across the nation,” he said on Monday. “Such cashless treatment shall be extended to road accident victims including during golden hour, as defined by the MV Amendment Act,” Jain said while inaugurating a three-day “Global Road Safety Initiative” being organised by the Institute of Road Traffic Education (IRTE) in partnership with the road ministry, United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the United Nations Economic Commission for Europe (UNECE). Golden Hour is the one hour lasting an hour following a traumatic injury during which there is the highest likelihood of preventing death by providing prompt medical care. According to Jain, India has the highest number of road accident deaths in the world.