Natrajan's exit may speed up project clearances: HCC

Jayanti Natrajan's exit from the environment ministry is viewed by some as the UPA government's olive branch to industry. Ajit Gulabchand, CMD, Hindustan Construction Company , says the move is not just a case of change of guard but a change in the thinking of handling environment protection in the country. He says India lacks objectivity and there have been too many arbitrary decisions taken with reference to environmental nods.

Many projects got stalled during Natarajan regime. Gulabchand said there's a need to remove case-by-case approach on environmental clearances. "There's a need to establish procedures with uniform applications," he said on CNBC-TV18.

He feels the change of guard may speed up project clearances but many issues on the policy front still need to be adressed. He said it may take another 6 months for investment to pick up. 

Transcript to follow

Hind Constr stock price

On December 24, 2013, at 14:30 hrs Hindustan Construction Company was quoting at Rs 14.41, up Rs 0.22, or 1.55 percent. The 52-week high of the share was Rs 20.85 and the 52-week low was Rs 7.75.

The latest book value of the company is Rs 19.17 per share. At current value, the price-to-book value of the company was 0.75.

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