Page 70 - Indian Railways

Govt to sell 15% stake in Rail Vikas Nigam Ltd via OFS

The government on Tuesday said it will dilute 15 per cent stake in Rail Vikas Nigam Ltd via an offer for sale to raise nearly Rs 750 crore. The issue will open on Wednesday for non-retail investors, and on Thursday for retail investors. "Offer for Sale in RVNL opens tomorrow for Non Retail investors. Retail investors can bid on Thursday. Govt. would divest 10% equity with a 5% Green Shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet. The floor price has been fixed at Rs 27.50 a share, a 9.54 per cent discount to Tuesday's closing price of Rs 30.40 apiece on the BSE. RVNL was incorporated as a 100 per cent owned PSU of the Ministry of Railways on January 2003 with the objectives of raising extra-budgetary resources and implementation of projects relating to creation and augmentation of capacity of rail infrastructure on fast track basis.

Railways announces initiatives against smoking, carrying inflammable items

The Railways announced on Tuesday a slew of initiatives against smoking and carrying inflammable items, which were apparently the cause behind some of the recent fires on board trains.

Recovery tracker: Workplace visits dip; nitrogen dioxide emissions down

Power generation holds steady compared to previous week

32 railway projects under different stages of development in Andhra: Goyal

As many as 32 railway projects, worth Rs 64,429 crore fully or partly in Andhra Pradesh are in different stages of development, Railway Minister Piyush Goyal informed Parliament Friday.

Top headlines: Cabinet approves bill to set up DFI, Nokia to cut10k jobs

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Success of Railways' asset monetisation plan can offer template for others

Critical contractual changes may help the long delayed plan to redevelop New Delhi Railway Station finally get off the ground and offer a template for similar projects

Recovery tracker: Traffic congestion drops, power generation gap narrows

Overall mobility still rising, including at retail and recreation spots

Surpassed freight loading for FY21 as compared to FY20: Railway official

Despite Covid, on March 11, 2021, Indian Railways achieved cumulative freight loading of 1145.68 million tonnes, which is higher as compared to last year's total cumulative loading

Covid-19 among reasons for Railways' losses in last 3 years: Goyal

For the year 2019-20 and 2020-21, Goyal attributed the shortfall in revenue to the "adverse" impact of the COVID-19 pandemic and the consequent suspension of railway operations

Exporters take unusual steps to ease container shortage to ease trading

Indian Railways is discussing if its current 25% discount for moving empty containers inland along some routes needs to be extended beyond March

Fully cooperated in firefighting ops at Kolkata building: Railways

The Eastern Railway authorities said that it extended full cooperation to the fire brigade and police in fighting a devastating blaze at its New Koilaghat Building in Kolkata where nine people died

Goyal orders probe into Eastern Railway office building fire in Kolkata

Railway Minister Piyush Goyal has set up a high-level committee to ascertain the cause of the fire at an Eastern Railway office building in Kolkata in which nine people were killed on Monday

Kolkata fire: PM announces Rs 2 lakh ex-gratia to next of kin of deceased

PM Modi also tweeted, "Saddened by the loss of lives due to the fire tragedy in Kolkata. In this hour of sadness, my thoughts are with the bereaved families. May the injured recover at the earliest"

Recovery tracker: Power generation up by 7%, workplace visits rise

Freight gains have trailed in the latest week

Indian Railways announces integrated Rail Madad Helpline number "139"

To overcome the inconvenience over multiple helpline numbers for grievances and enquiry during railway travel, Indian Railway has integrated all railway helplines into a single number1--39

Covid-19: Western Railways collects Rs 883,000 in fine in March 1st week

Amid rising Covid-19 cases in Maharashtra, the Western Railways collected a total fine of Rs 883,000 from March 1 to 6 from people who were travelling without a face mask

Fitch, S&P rate IRFC's proposed USD senior unsecured notes at BBB-minus

Fitch Ratings has assigned Indian Railway Finance Corporation's (IRFC's) proposed US dollar Regulation senior unsecured notes a rating of BBB-minus.The proposed notes will be issued under IRFC's existing four billion dollars global medium-term note programme.The net proceeds from proposed notes will be used for funding acquisition of rail assets which IRFC will lease to Indian Railways, and to meet debt-financing requirements of various entities in the railway sector.Fitch said the proposed notes are rated in line with IRFC's issuer default rating on the basis that the notes issued under the programme will constitute direct, unconditional and unsecured obligations of IRFC and rank pari passu (on equal footing) with all its other present and future outstanding unsecured and unsubordinated obligations.Meanwhile, S & P Global also assigned BBB-minus rating to long-term foreign currency issue rating to IRFC's proposed benchmark size senior unsecured US dollar notes.

Top headlines: PM Modi praises PLI scheme; Mamata to contest from Nandigram

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Platform ticket hike 'temporary measure' to prevent overcrowding: Railways

Amid the ongoing C-19 pandemic, the Ministry of Railways has termed the hike in platform ticket rates as a "temporary measure" in the interest of the safety of passengers

RailTel launches prepaid wi-fi services at 4,000 railway stations

With the launch of these prepaid plans, a passenger can now use up to 30 minutes' free wi-fi per day at 1 mbps speed