Sunday, March 10, 2024

15 new airport projects

PM inaugurates 15 new airport projects including Delhi’s revamped Terminal 1

The project virtually launched by the PM during an event at Uttar Pradesh’s Azamgarh included 12 new terminal buildings 

11/0/2024 : Monday

New Delhi: In a major boost to the aviation infrastructure of the country, Prime Minister Narendra Modi on Sunday inaugurated 15 airport projects, including the revamped Terminal 1 of the Indira Gandhi International Airport in Delhi, worth over Rs.9,800 crore. 

The project was virtually launched by the Prime Minister during an event at Uttar Pradesh’s Azamgarh (Twitter/@BJP4UP) 

The project virtually launched by the PM during an event at Uttar Pradesh’s Azamgarh included 12 new terminal buildings of Pune, Kolhapur, Gwalior, Jabalpur, Delhi, Lucknow, Aligarh, Azamgarh, Chitrakoot, Moradabad, Shravasti and Adampur Airports, along with laying of the foundation stone for new terminal buildings of Kadapa, Hubballi and Belagavi airports.

Hindustan Times - your fastest source for breaking news! Read now.
“Azamgarh, which was counted among the backward areas, is writing a new chapter of development today,” Modi said.

The PM said that the Gwalior terminal was completed in just 16 months. “This initiative will make air travel easier and accessible for the common citizens of the country,” he said.

Emphasizing that the record of the government of completing announced projects in time repudiates the allegation of these projects being election gimmicks, Modi said, “People are seeing that Modi is made of different material. I am working relentlessly to create a Viksit Bharat.” 


Along with airports, highways and railway infrastructure, projects related to education, water and the environment also received a new push on Sunday.

Also Read: In Azamgarh speech, PM Modi calls out ‘venom of appeasement’

Giving a new guarantee to the people of Azamgarh, Modi said, “Azamgarh will remain ‘Aajanm’ a ‘Vikas ka Garh’ (bastion of development forever).” He said that with an airport, hospital and medical college, Azamgarh is no longer dependent on the neighbouring big cities.

In an indirect jibe to the Congress, Modi said that in the last 10 years, the region has seen politics of development in place of the earlier politics of appeasement and dynasty. “This trend got a new momentum under the leadership of the chief minister Yogi Adityanath,” he said.

He said cities such as Aligarh, Moradabad, Azamgarh, and Shravasti, which were ignored as backward areas of Uttar Pradesh are getting air connectivity due to rapid overall development, and just like welfare schemes, modern infrastructure is moving beyond metro cities to small towns and villages.

“Small cities have equal rights to airports and good highways as big metro cities. We are increasing the strength of the tier 2 and tier 3 cities so that urbanization continues unabated,” Modi said.

Emphasizing on the importance of connectivity and infrastructure development in the region, the PM referred to the inauguration and foundation-laying ceremonies of several railway projects, including those connecting districts like Sitapur, Shahjahanpur, Gazipur, and Prayagraj. Azamgarh, Mau and Balia received the gift of many railway projects. 

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News / India News / PM inaugurates 15 new airport projects including Delhi’s revamped Terminal 1
PM inaugurates 15 new airport projects including Delhi’s revamped Terminal 1
By
HT Correspondent
Mar 10, 2024 05:45 PM IST
Cricket Page
The project virtually launched by the PM during an event at Uttar Pradesh’s Azamgarh included 12 new terminal buildings

New Delhi: In a major boost to the aviation infrastructure of the country, Prime Minister Narendra Modi on Sunday inaugurated 15 airport projects, including the revamped Terminal 1 of the Indira Gandhi International Airport in Delhi, worth over Rs.9,800 crore.


The project was virtually launched by the Prime Minister during an event at Uttar Pradesh’s Azamgarh (Twitter/@BJP4UP)

The project virtually launched by the PM during an event at Uttar Pradesh’s Azamgarh included 12 new terminal buildings of Pune, Kolhapur, Gwalior, Jabalpur, Delhi, Lucknow, Aligarh, Azamgarh, Chitrakoot, Moradabad, Shravasti and Adampur Airports, along with laying of the foundation stone for new terminal buildings of Kadapa, Hubballi and Belagavi airports.

Hindustan Times - your fastest source for breaking news! Read now.
“Azamgarh, which was counted among the backward areas, is writing a new chapter of development today,” Modi said.

The PM said that the Gwalior terminal was completed in just 16 months. “This initiative will make air travel easier and accessible for the common citizens of the country,” he said.

Emphasizing that the record of the government of completing announced projects in time repudiates the allegation of these projects being election gimmicks, Modi said, “People are seeing that Modi is made of different material. I am working relentlessly to create a Viksit Bharat.”


Along with airports, highways and railway infrastructure, projects related to education, water and the environment also received a new push on Sunday.

Also Read: In Azamgarh speech, PM Modi calls out ‘venom of appeasement’

Giving a new guarantee to the people of Azamgarh, Modi said, “Azamgarh will remain ‘Aajanm’ a ‘Vikas ka Garh’ (bastion of development forever).” He said that with an airport, hospital and medical college, Azamgarh is no longer dependent on the neighbouring big cities.

In an indirect jibe to the Congress, Modi said that in the last 10 years, the region has seen politics of development in place of the earlier politics of appeasement and dynasty. “This trend got a new momentum under the leadership of the chief minister Yogi Adityanath,” he said.


He said cities such as Aligarh, Moradabad, Azamgarh, and Shravasti, which were ignored as backward areas of Uttar Pradesh are getting air connectivity due to rapid overall development, and just like welfare schemes, modern infrastructure is moving beyond metro cities to small towns and villages.

“Small cities have equal rights to airports and good highways as big metro cities. We are increasing the strength of the tier 2 and tier 3 cities so that urbanization continues unabated,” Modi said.

Emphasizing on the importance of connectivity and infrastructure development in the region, the PM referred to the inauguration and foundation-laying ceremonies of several railway projects, including those connecting districts like Sitapur, Shahjahanpur, Gazipur, and Prayagraj. Azamgarh, Mau and Balia received the gift of many railway projects.


In addition to railway projects, Modi underscored the government’s commitment to rural infrastructure development through the Pradhan Mantri Gram Sadak Yojana.

“More than 5,000 kilometres of roads have been inaugurated under the Pradhan Mantri Gram Sadak Yojana, aiming to improve connectivity for the farmers and youth of Eastern Uttar Pradesh,” he said.

The PM also highlighted the government’s focus on ensuring fair prices for farmers’ produce. He spoke about the substantial increase in minimum support price (MSP) for various crops, including sugarcane, stating, “Today, MSP for sugarcane farmers has been increased by eight per cent, reaching Rs.340 per quintal.”

Also Read: India, EFTA states sign trade deal to create resilient supply chains

Modi also addressed the historical challenges faced by sugarcane farmers in the region. “Our government has settled pending dues worth thousands of crores for sugarcane farmers, providing them timely and fair payment,” he said.


According to a statement issued by the Prime Minister’s Office, the 12 new terminal buildings will have a combined capacity to serve 62 million passengers annually, while for the three terminal buildings, whose foundation stone is being laid, once completed, the combined passenger handling capacity of these airports will increase to 9.5 million passengers per annum.

These terminal buildings have state-of-the-art passenger amenities and are also equipped with various sustainability features like a double insulated roofing system, provision of canopies for energy saving, LED lighting etc.

The designs of these airports are influenced and derived from the common elements of heritage structures of that state and city, thus reflecting the local culture and highlighting the heritage of the region. 

In the event, which was attended by chief minister Yogi Adityanath and several others, the PM also dedicated to the nation and laid the foundation stone of several road projects worth around Rs.11,500 crore in Uttar Pradesh.

The road projects will improve connectivity, help reduce traffic congestion and will lead to socioeconomic development in the region. Modi also dedicated to the nation and laid the foundation stone of several road projects worth more than Rs.19,000 crore in Uttar Pradesh.

Stock Market Today:

Stock Market Today: All You Need To Know Going Into Trade On March 11

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Markets in Asia-Pacific region were trading in negative, taking cues from decline on Wall Street as investors assess Japan's GDP data, and await U.S. CPI print.

The Nikkei was trading 878.75 points or 2.21% lower at 38,810.19, and the S&P ASX 200 was trading 109.10 points or 1.39% lower at 7,737.90 as of 06:38 a.m.

U.S. stocks hit all-time highs in the run-up to the U.S. jobs report, with investors betting some of the world’s major central banks will start slashing interest rates as soon as June, reported Bloomberg.

The S&P 500 Index and Nasdaq Composite fell by 0.65% and 1.16%, respectively, as of 12.10 a.m. New York time. The Dow Jones Industrial Average settled 0.18% lower on Friday.

Brent crude was trading 0.38% lower at $81.77 a barrel. Gold was higher by 0.36% at $2,186.85 an ounce.

The GIFT Nifty was trading 8 points or 0.04% lower at 22,651.50 as of 6:42 a.m.

India's benchmark stock indices ended at a fresh record closing high in a truncated week on Thursday, led by gains in the shares of Bajaj Auto and Bharti Airtel.

The Nifty 50 ended 19.50 points, or 0.09%, higher at 22,493.55, and the Sensex gained 33.40 points, or 0.04%, to close at 74,119.39.

The Nifty hit a fresh record high of 22,525.65, and the Sensex touched an all-time high of 74,245.17 points.

Overseas investors remained net buyers of Indian equities on Thursday. Foreign portfolio investors bought stocks worth Rs 7,304.1 crore, while domestic institutional investors remained net buyers for the fourth day and mopped up equities worth Rs 2,601.8 crore, the NSE data showed.

The Indian rupee opened flat against the U.S. dollar at 82.82. 

Vedanta: The company received warning related to publishing information relating to unlisted ultimate holding company from SEBI.

#InterGlobe Aviation: Promoter Rakesh Gangwal will sell up to a 3.3% stake in the company worth at least Rs 3,729 crore, at a floor price of Rs 2,925 apiece.

GAIL, ONGC: GAIL, Oil and Natural Gas Corp and Shell Energy India signed a tripartite Memorandum of Understanding to explore opportunities for importing ethane and other hydrocarbons, as well as developing evacuation infrastructure at Shell Energy Terminal, Hazira.

#Torrent Power: The company received letter of award worth Rs 1,540 crore from Maharashtra state electricity distribution company for setting up 306 MW grid-connected solar PV projects.

#Gujarat Gas: The company and Bharat Petroleum signed an MoU on various fronts to streamline operations and improve service delivery. This MoU includes offering liquid fuels and BPCL's allied petroleum products at select outlets of the company.

#Rail Vikas Nigam: The company received a letter of award from Madhya Pradesh Poorv Kshetra Vidyut Vitaran for a broad consideration of Rs 251 crore to supply, install, test and commission 11 KV Line associated works. The company received a LOA worth Rs 889 crore from the Himachal Pradesh state electricity board for the development of distribution infrastructure in the south zone of Himachal Pradesh.

#Titagarh Rail Systems: The company received order worth of Rs 1,909 crore from the Railway Board for manufacture and supply of 4,463 BOSM wagons.

#NBCC: The company signed an MoU with Bharat Heavy Electronics for redeveloping BHEL's identified properties.

#Shyam Metallics and Energy: The company sold 94,143 tonne sponge iron, up 122.9% YoY, and sold 2.34 lakh tonne, up 37.3% YoY, for the month of February.

#Agro Tech Foods: The company announced a share subscription agreement with Zest Holding Investments, leading to the investor gaining control over the company.

#Tata Communication: The company has opened a new world-class production and delivery facility in Los Angeles – an investment that will support the future development of its services and business growth.

#Exide Industries: The company received approval from the NCLT for the scheme of amalgamation between its wholly owned subsidiaries, Exide Energy Solutions and Exide Energy.

#Sonata Software: The company has announced the integration of Sonata Harmoni.AI with Microsoft Azure AI service.

#PNC Infratech: The company signed pact for construction project worth Rs 1,174 crore in Madhya Pradesh on hybrid annuity mode.

#H.G. Infra Engineering: The company has been declared a L-l bidder by the National Highways Authority of India for a project worth 610.11 crore.

#Cyient DLM: The company incorporated a wholly owned subsidiary CYIENT DLM INC.

#India Glycols: The company has enhanced the capacity Bio-Fuel Ethanol plant at Kashipur in Uttarakhand. The plant capacity now stands at 410 KLPD and is fully commissioned.

#Rainbow Children Medicare: The company has added ~50-bed additional blocks to the existing hospital at Hydernagar, Hyderabad, Telangana.

#United Breweries: The company launched new brand 'Kingfisher Ultra Max Draught Beer' in the premium strong beer segment category in Karnataka.

#Macrotech Developers: The company successfully raised Rs 3,300 crore equity through QIP.

#Mishtann Foods: The company has set March 20 as the record date for its rights issue. The right entitlement ratio is 1:31.

#Azad Engineering: The company has signed Long-Term Strategic Supply Agreement with a subsidiary of Baker Hughes to supply of high-complex and critical components.

#DB Realty: The company to raise Rs 1,500 crores through qualified institutional placement. Company will raise Rs 1,000 crores with a greenshoe option of 500 crores.

#TVS Motor Company: The company announces its presence in France. It will showcase its product range for Europe in Lyon, France up till Mar.10.

#TCNS Clothing: CRISIL assigns CRISIL AA-/Stable rating to company as its long-term rating and reaffirms CRISIL A1+ as its short-term rating.

#Kernex Microsystems: The company receives an order worth Rs 109.5 crore from South-Central Railway for comprehensive signaling and telecommunication works.

#Oil India: The company announces second interim dividend of Rs 8.5 per share. This comes to a yield of 1.3% based on Thursday’s closing price of Rs 630 per share.

#Dilip Buildcon: The company gets order worth Rs 550 crore for tender floated by NHAI on hybrid annuity basis in Tamil Nadu.

#Hindustan Aeronautics: Cabinet Committee on Security clears 34 new Dhruv choppers for Indian Coast Guard, Army. The choppers will be manufactured by HAL.

#Dwarikesh Sugar: The company sets record date for buyback as Mar. 20, for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.

#SJVN: SJVN Green Energy signs power usage agreement for 500 MW solar power and power purchase agreement for 100 MW solar power with Rajasthan Urja Vikas and IT Services.

#Coal India: The company signed a MoU with Rajasthan Rajya Vidyut Utpadan Nigam for growing meeting power demands of the state

Under MoU, initial focus to be on exploring possibilities of setting up of 4100 MW projects through a JV.

#Indian Bank: Brajesh Kumar Singh replaces Imran Amin Siddiqui as executive director effective March 10.

#NLC India: India signs MOU with Rajasthan Govt for formation of JV for adding thermal and renewable capacity.

#Gensol Engineering: It emerged as lowest bidder for Gujarat Urja Vikas Nigam's 70 MW/140 MWh battery energy storage project worth Rs 450 crore revenue.

#KP Energy: The company received order for total capacity of 368.55MW out of which 185.85MW is awarded by Aditya Birla Renewables Subsidiary Ltd. and 182.70MW is awarded by ABREL (RJ) Projects Ltd. The order also includes development of 220KV transmission line for evacuation capacity of 673MW, along with engineering, procurement, construction, and commissioning of wind operated electricity generator.

#KPI Green Energy: The company received an order of total capacity of 305MWac out of which 175MWac is awarded by Aditya Birla

Renewables Subsidiary Ltd. and 130MWac is awarded by ABREL (RJ) Projects Ltd. for development of Balance of System for 305MWac solar capacity forming part of the wind-solar hybrid power project in state of Gujarat.

RR Kabel: Mitesh Daga resigned as non-executive director on account of other work commitments.

TVS Supply Chain Solutions: The company extended parental guarantee to the lenders of TVS LI U.K. Ltd. and TVS Singapore with a of $105 mn (Rs 869.29 crore), replacing an existing $80 million (Rs 662.31 crore) guarantee.

TVS Motor: The company announced its presence in France, partnering with Emil Frey.

Garden Reach Shipbuilders: The board will meet on March 22 to consider an increase in authorised share capital.

Dwarikesh Sugar Industries: The company announced buyback of 30 lakh equity shares (1.59% of the total paid-up equity share capital) at a price of Rs 105 for a total consideration of Rs 31.5 crore with a record date of March 20.

Also Read: Interglobe Promoter To Sell 3.3% Stake For Rs 3,729 Crore

IPO Offerings
JG Chemicals: The public issue was subscribed to 32.09 times on day 3. The bids were led by non-institutional investors (46.33 times), retail investors (17.44 times), institutional investors (32.09 times).

Gopal Snacks: The public issue was subscribed to 1.4 times on day 2. The bids were led by non-institutional investors (1.63 times), retail investors (2.01 times), and by institutional investors (0.09).

Also Read: Vedanta Gets SEBI Warning For Publishing Info Related To 'Unlisted Ultimate Holding' Company

Block Deals
Bharti Airtel: Pastel sold 4.90 crore shares (0.81%) while, GQG Partners through its affiliates bought 4.34 crore shares (0.69%) at Rs at Rs 1,193.7 apiece.

Bulk Deals
CarTrade Tech: Springfield Venture International sold 3.8 lakh shares (0.81%) at Rs 739.39 apiece, while Taiyo Greater India Fund bought 2.64 lakh shares (0.56%) at Rs 737.64 apiece.

G R Infraprojects: Agarwal Lalita sold 9.66 lakh shares (0.99%), Agarwal Ritu sold 4.83 lakh shares (0.49%), Kiran Agarwal sold 9.66 lakh shares (0.99%), Laxmi Devi Agarwal sold 9.66 lakh shares (0.99%), Ritu Agarwal sold 4.83 lakh shares (0.49%), Suman Agarwal sold 9.66 lakh shares (0.99%), while SBI Mutual Fund bought 5.75 lakh shares (0.59%) at Rs 1,171 apiece.

Mahindra and Mahindra: Prudential Management and Services sold 93 lakh shares (0.74%) at Rs 1,912.04 apiece.

SBFC Finance: SBFC Holdings sold 2.96 crore shares (2.78%) at Rs 86.35 apiece, while Aditya Birla Sun Life Mutual Fund bought 55.64 lakh shares (0.52%) at Rs 85.52 apiece.

Also Read: Why Tata Chemicals Stock Gained 24% In Two Days

Pledge Share Details
Genus Power Infrastructure: Promoter Kailash Chandra Agarwal revoked a pledge of 8 lakh shares on March 5.

Star Cement: Promoter Amritansh Chamaria created a pledge of 2 lakh shares on March 1.

Also Read: Nifty Has Room For Further Rally If Banks Do Well, Say Analysts

Who’s Meeting Whom
Gravita India: To meet analysts and investors on March 17.

Capri Global Capital: To meet analysts and investors on March 12.

Sapphire Foods: To meet analysts and investors on March 13, 14.

Agi Greenpac: To meet analysts and investors in March 13.

HDFC Asset Management: To meet analysts and investors on March 15.

Kirloskar Brothers: To meet analysts and investors on March 18, 19

Maruti Suzuki: To meet analysts and investors on March 18.

Trading Tweaks
Price Band changes from 10% to 20%: Newgen Software Technologies.

Price Band changes from 2% to 5%: MSP Steel and Power.

Ex/record AGM: BEML Land Assets.

Moved into short-term ASM framework: Agro Tech Foods, IIFL Finance.

Moved out short-term ASM framework: Jyoti CNC Automation, Taj GVK Hotels & Resorts.

F&O Cues
Nifty March futures down by 0.24% to 22,552.35 at a premium of 58.8 points.

Nifty March futures open interest down by 5.51%.

Nifty Bank March futures down by 0.45% to 47,958.3 at a premium of 122.5 points.

Nifty Bank March futures open interest down by 11.9%.

Nifty Options March 14 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 22,400.

Bank Nifty Options March 13 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 48,000.

Securities in ban period: Manappuram Finance, Mahanagar Gas, Sail, Tata Chemical, Zee Entertainment Enterprise.


Money Market Update
The Indian Rupee opened flat against the U.S. Dollar at 82.82.

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