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Globe Civil Projects shares gain 5% on ₹222 crore order win; details here
The civil construction major's stock rose as much as 4.9 per cent during the day to ₹82.4 per share, the biggest intraday rise since August 8 this year. The stock pared gains to trade 1.6 per cent higher at ₹79.8 apiece, compared to a 0.13 per cent advance in Nifty 50 as of 10:48 AM.
Shares of the company snapped a two-day losing streak but have been range-bound since the beginning of August. The shares, which debuted on the exchanges on July 1 this year, have declined 10 per cent since listing. Globe Civil Projects has a total market capitalisation of ₹481.34 crore. Track LIVE Stock Market Updates Here
Globe Civil Projects wins ₹222 crore order
The company secured a major contract worth ₹222.2 crore from the Haryana Cricket Association for the construction of an international cricket stadium at Lohat in Jhajjar district, Haryana. The project is slated for completion within 24 months.
The scope of work involves execution of the stadium on a bill-of-quantities (BOQ) basis, underscoring the company's growing role in developing large-scale infrastructure facilities across the country. The deal also boosts its order book and marks a strategic foray into sports infrastructure.
'This project marks our entry into the sports infrastructure segment and reflects the confidence of our stakeholders in our ability to deliver large-scale assignments with precision and reliability,' said Ved Prakash Khurana, chairman and whole-time director of Globe Civil Projects.
Last month, the company announced the receipt of an order from NBCC (India) Ltd. valued at ₹172.99 crore. The contract involved the development of infrastructure and buildings for the Central University of Punjab at Village Ghudda in Bathinda, Punjab, on an Engineering, Procurement, and Construction (EPC) basis.
About Globe Civil Projects
Globe Civil Projects Limited, headquartered in New Delhi, is an integrated Engineering, Procurement, and Construction (EPC) company involved in executing a wide range of infrastructure and non-infrastructure projects across India.
With operations spanning eleven states, the company has established a solid track record in delivering projects across Transport & Logistics, Social & Commercial Infrastructure, and Premium Residential and Commercial Developments.
Traditionally known for its expertise in constructing railway infrastructure and educational institution buildings, Globe Civil Projects has strategically diversified into more complex and specialised segments, including railway bridges, elevated railway terminals, airport terminals, and hospitals.
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United News of India
19 minutes ago
- United News of India
India-Russia trade has grown five-fold to $68 bn, but major trade imbalance needs addressing: EAM
Moscow/New Delhi, Aug 20 (UNI) External Affairs Minister S Jaishankar today said that while bilateral trade in goods between India and Russia has grown more than five-fold, from USD 13 billion in 2021 to USD 68 billion in 2024-25, the major trade imbalance accompanying the growth needs to be addressed. Speaking at the 26th Session of the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), in Moscow, the EAM made some suggestions on how the two sides can improve their efficiency and deepen economic cooperation. The EAM remarked that the two sides are meeting in Moscow after 10 months since the last Session in November 2024 in New Delhi, which he said is perhaps the shortest interval between the two sessions that they have had. 'Over the last four years, our bilateral trade in goods has increased, as you have noted, more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024-25 and it continues to grow. However, a major trade imbalance has accompanied the growth; it has increased from USD 6.6 billion to USD 58.9 billion which is about nine times. So we need to address that urgently,' he said. Outlining some of the salient features of the agenda, he said. 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Among the suggestions he outlined were, that the various Working Groups and Sub Groups could take a more creative and innovative approach. He said the two sides could focus more on areas like the smoothness of settlements, of better logistics, of diversifying the trade basket, creating more joint ventures, moving on skilling and mobility. He suggested that the two sides should continuously diversify and expand their agenda through mutual consultation. 'This will help us to tap into full potential of our trade and investment ties. We should not get stuck on a beaten track. Doing more and doing differently should be our mantras.' He urged that they should set themselves some quantifiable targets and specific timelines so that they challenge themselves to achieve more. 'Each Working Group and each Sub Group could apply itself to setting of targets and see what we could achieve by the next session of the IRIGC-TEC.' 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'We had detailed discussions on our cooperation in a wide-ranging arena including trade & economic sector, agriculture, energy, industries, skilling, mobility, education and culture. 'As we meet in the backdrop of a complex geopolitical situation, made the following suggestions to make the IRIGIC-TEC an even more efficient catalyst for deepening our economic cooperation: *Need for a creative and innovative approach. *Continuously diversify and expand our agenda through mutual consultations. *Set quantifiable targets and specific timelines so that we challenge ourselves to achieve more, perhaps even surpass what we set out to do. *Have at least two inter-sessional meetings between the IRIGC Sessions. And a virtual midterm review with all the Co-Chairs. Have a coordination mechanism between the Business Forum and the different Working Groups of the IRIGC-TEC, so that there is a two-way flow. 'As we prepare for the Annual Leaders Summit, confident that the outcomes of the IRIGC-TEC meeting today will further drive the time tested India-Russia partnership." UNI RN
The Wire
31 minutes ago
- The Wire
Amid Threat of US Tariffs, India Flags Soaring Trade Deficit, Russia Assures Oil Flows
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India Today
36 minutes ago
- India Today
Bilateral trade jumps five times, but imbalance widening, says Jaishankar in Moscow
External Affairs Minister S. Jaishankar on Wednesday raised the growing hurdles of tariff and non-tariff trade barriers between India and Russia, calling for the early conclusion of a Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU).Speaking in Moscow during the 26th Session of the India-Russia Inter-Government Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), Jaishankar stressed the urgent need to remove structural obstacles to boost PRESSES FOR FTAAt the session co-chaired with Russia's First Deputy Prime Minister Denis Manturov, Jaishankar said the India-EAEU FTA, long in discussion, must be finalised without delay. He noted that Russia has been a strong advocate of the trade pact, which is expected to expand overland trade across Russia, China, India, and Central Asian countries. Jaishankar said, "Tariff and non-tariff trade barriers, removing bottlenecks in logistics, promoting connectivity through the International North-South Transport Corridor, the Northern Sea Route and the Chennai-Vladivostok Corridor, effecting payment mechanisms smoothly -- these are the main issues before the IRIGC-TEC."The External Affairs Minister emphasised that the commission had finalised the terms of reference for the FTA during the Moscow meeting, marking a crucial step forward in IN BILATERAL TRADEJaishankar drew attention to the growth in India-Russia trade, which has risen more than five-fold in four years. Bilateral goods trade climbed from $13 billion in 2021 to $68 billion in 2024-25, largely due to India's rising imports of Russian hydrocarbons after Western sanctions hit the Russian Embassy in India said that Russia-India trade has increased by 700% over the past five years. However, the EAM warned that the surge had created a disproportionate imbalance. The trade gap, which was $6.6 billion in 2021, has now ballooned to $58.9 billion."So, we need to address that urgently," he said, urging Moscow to facilitate greater access for Indian IRIGC, he explained, is a "key mechanism" for preparing the ground for the Annual India-Russia Summit expected later this year. "We are meeting here after about 10 months since the last session in New Delhi, and I think this is perhaps the shortest interval between the two sessions that we have ever had," he IRIGC, the EAM also addressed the India-Russia Business Forum in Moscow. Jaishankar is on three-day visit to Moscow to further strengthen the "time-tested' India-Russia the meeting, he posted on X: "Reiterated that an enduring strategic partnership must have a strong and sustainable economic component. And in this context called on our businesses to do more trade, contemplate more investments & joint ventures and open new frontiers of economic cooperation." US TARIFF ADDS STRAINThe talks came against the backdrop of US President Donald Trump's announcement of steep tariffs on Indian goods to 50 per cent that included an additional penalty of 25 per cent for purchasing Russian crude White House said the move was designed to indirectly compel Russia to end the Ukraine war by targeting India's continued trade with Jaishankar did not directly point towards the US decision. He said, "We are all acutely aware that we are meeting in the backdrop of a complex geopolitical situation. Our leaders remain closely and regularly engaged."- EndsWith inputs from agencies Tune InMust Watch
