Metro Financial News

Indian Railways are executing projects better than ever. India has the fourth-largest railway system in the world due to its extensive network of rail tracks that almost encircle the whole country. More than 1.4 million (m) people are employed along its 67,850 km of travel.

metro line project, which Tamil Nadu is very keen on, has moved a step ahead. The Chennai Metro Rail Corporation (CMRL) will soon award a tender for the feasibility study after analysing financial bids from the 11 major firms that have applied to undertake the study, A Chellakumar, the Congress MP of Krishnagiri in Tamil Nadu told ET. This will be south India’s first interstate metro. The 20.5 km metro line has been proposed between the industrial hub Hosur in Tamil Nadu to Bommasandra in Bengaluru.

PTI. Line 7 which is an elevated corridor along the Western Express Highway links Dahisar and Gundivali in Andheri East. While Line 2A runs above New Link Road between Dahisar and Andheri West.

SAIL plans to start the trial production of head hardened (HH) rails, used in metro rail and freight corridor projects, by month-end, its Chairman Amarendu Prakash said. The steel PSU was earlier looking to start the trial production of HH rails in August but deferred it due to the demand for normal rails like 880 grade from the Indian Railways, Prakash told PTI in an interview. «We have the technology.

Global steel demand needs revival for domestic prices to rise HH rails are special rails used in high-speed freight corridors and metro rail projects. Such rails are manufactured using head hardening technology to bear about 50 per cent higher pressure compared to normal rails. SAIL has set up facilities for the production of HH rails at the new Universal Rail Mill (URM) at its Bhilai Steel Plant (BSP) in Chhattisgarh, and the cold trials for the same have already been completed.

Private sector life insurance firm HDFC Life Insurance was able to grow its number of policies sold by 10% in the first half of this fiscal, while the premium category below Rs 5 lakh grew around 17-18%, said managing director and chief executive officer Vibha Padalkar. In an interview with Mithun Dasgupta, Padalkar said that the insurer’s annualised premium equivalent (APE) should grow by mid-teens in the current financial year. Edited excerpts:

Superstar Hrithik Roshan decided to become an ‘Aam Admi’ (everyday guy) for a day. No, the ‘Kaabil’ actor has not joined any political party! The actor decided to ditch luxury cars for a day and travel via the Mumbai Metro to the place of shooting. The ‘Krrish’ superstar took to Instagram on Friday and shared a bunch of photos of himself traveling in the metro.

construction equipment sector is expected to grow by 14-15 per cent in FY24 on the back of the government's focus on infrastructure, Crisil Ratings said on Friday. Construction activity across the real estate and mining sectors will also play a supportive role, it said.

₹2 trillion over the next seven years, including Vande Bharat projects and various metro tenders. Indian Railways has issued a production plan of 102 Vande Bharat rakes, with 75 as chair car versions and the rest as sleepers.

Click here! Abhay Sharma, chief business officer, Paytm said, "As the pioneer of QR code based payments, we aim to offer convenience and ease of digital ticketing to metro commuters, helping them save time. Using this facility, Delhi Metro Rail passengers will be able to skip the queues to buy tickets.

Delhi Metro has rolled out a QR code ticketing option via the Paytm app on all its lines, as announced by officials on Thursday. This expansion of the innovative service was inaugurated by Vikas Kumar, the Managing Director of Delhi Metro Rail Corporation (DMRC), according to an official statement. With this new feature, commuters can now get the mobile QR ticket on the Paytm app under the 'Delhi Metro' section, by simply entering the station of entry and destination on the day of the journey, it said. Passengers can just hold their smartphone in front of the QR code scanner of the Automatic Fare Collection (AFC) gates at both entry and exit stations to proceed with the journey.

Stagnant deal activity, easing volatility and peaking interest rates are set to compound pressure on bank earnings, according to Barclays Plc’s chief executive officer. 

₹96.72 - lowest among metro cities - and in Mumbai it is at ₹106.31 - highest among Indian metro cities.Meanwhile, diesel price in Delhi were unchanged at ₹89.62 on October 12 and in Mumbai at ₹94.27. Track fuel prices data for different cities on Mint here.Fuel prices in India are influenced by many factors, the biggest of them all being the price of Crude Oil in the international market.

Advisors from two separate firms are joining forces to launch a new office for Totus Wealth Management, which has been affiliated with Cetera since 2021.

New Delhi: Aditya Birla Group’s flagship, Grasim Industries Ltd, announced that it will be holding a board meeting on Monday to consider a proposal to raise funds. “A meeting of the Board of Directors of Grasim Industries Limited is scheduled to be held on Monday, 16 October 2023," it said in an exchange filing on Wednesday. “To consider the proposal for raising of the fund by way of equity shares or other securities through a rights issue, qualified institutions placement, preferential issue or any other method as may be permitted under the applicable law, subject to such regulatory/statutory approvals as may be required." This comes at a time when the Kumar Mangalam Birla-led textile manufacturer is set to launch its paint vertical, with a project cost of ₹10,000 crore before the end of the current financial year.

My wife and I are both 34 years old and live with my parents in a flat in our native town. We had taken a joint home loan of ₹30 lakh to buy the flat for my parents. The loan was for a tenure of 30 years and the EMI (equated monthly instalment) was ₹25,000. We used our emergency fund and repaid the loan in four years. We draw a net salary of ₹1.2 lakh each, every month. Both of us invest ₹3,000 separately for our daughter’s education and our retirement. We will be rebuilding the emergency fund in six months, but are looking for good investment options to park this fund. Next year, we will be shifting to a rented accommodation in a metro city as we return to office. How can we build a corpus of ₹1 crore to buy another house in a metro city in 10-15 years? —Name withheld on request For accumulating emergency funds, we would suggest you to invest in liquid or ultra short mutual fund schemes.

This portion has five stations—Sahibabad, Ghaziabad, Guldhar, Duhai and Duhai Depot. Work at all these stations had completed in June this year and they are ready for operations. “In another six months from now, 25 kms more will be added to the RAPIDX network.

More Russian banks will join the digital ruble pilot, with Center-invest Bank, which mainly operates in the nation’s south, set to trial the CBDC next year.

Siemens AG, German multinational technology conglomerate plans to make India hub for mass transit solutions, company executives said today. «The $3 billion large order (from Indian Railways) that we won, will for sure accelerate component and locomotive manufacturing here,» said Peter Koerte, Chief Technology Officer and Strategy Officer, Siemens AG, adding that Siemens also has a site where it develops a lot of infrastructure solutions and wants to use India as a hub for mass transit solutions which is a huge opportunity. Early this year, Siemens signed a Rs 26,000 crore ($3.25 billion) contract with Indian Railways to supply and service electric locomotives for freight movement in India. The deal is the biggest locomotive deal in the history of Siemens Mobility and the single largest order for the company in India. As part of the agreement, Siemens will deliver 1,200 electric locomotives of high capacity 9000 horsepower (HP) and also provide servicing for 35 years to the Railways.The deliveries would be undertaken over an eleven-year period. Siemens said it has engineering capacities in India (30 factories) and wants to build and look at how it can develop this further for the region. «We already have the Pune-Hinjewadi project with the Tatas.

Mumbai: Back in April 2022 when the funding winter for the startup ecosystem had just about set in, social commerce-focused online e-grocer DealShare started out on a path that would change the face of the startup, eventually triggering a change in its leadership and business model. The change was coming at an odd time. DealShare had set up shop in eight states, and had announced plans to aggressively expand that footprint.

Lower interest rates might be the only thing that could revive Canada’s housing market as supply outpaces demand in the country’s largest real estate markets, experts say.