BHARAT HIGHWAYS
A war of titans builds up in India's cement sector
The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.
Bharat Forge's Amit Kalyani on what's wrong with India's EV model and whether green hydrogen is the silver bullet
The London session emphasized innovative EV approaches, green financing, and electrification for energy transition. It celebrated the London Stock Exchange's role in supporting Indian companies and capital flows, showcasing financial expertise for India's growth.
Credit card bill payment hurdles; startup funding logs slight uptick
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.
Punch.ev, Nexon.ev first to get 5-star rating under Bharat-NCAP in EV category
Tata Motors' Punch.ev and Nexon.ev receive the first five-star Bharat New Car Assessment Programme (Bharat-NCAP) rating in the electric vehicles category, lauded by Road Transport and Highways minister Nitin Gadkari for setting a safety benchmark in the Indian automotive market.
Why is it right time to reshuffle your portfolio? Feroze Azeez answers
Now if you come to the contemporary situation that general election is over, the mandate of the new government is also reasonably clear, the NDA is going to form a government in 99% of the situations, which is going to be a stable government because you have 292 seats on a pre-poll alliance, UPA 1, UPA 2 also you would not see one single party having a majority greater than 272, 273, so it is a stable government, that is one thing behind us now.
Election Result 2024: Be a friend of the people, not Supreme Leader
The 2024 elections showed a shift in voter priorities from charisma to development. Modi's campaign lacked a clear agenda, focusing on nationalism instead. This didn't resonate with voters seeking inclusion and jobs. Despite Modi's strong campaign, especially in West Bengal, the BJP didn't make significant gains. Unemployment, arrogance of power, and fear of government agencies also affected the outcome. Modi's victory offers a chance to focus on inclusive growth and a more empathetic leadership style.
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Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
Under leadership of PM Modi, foreign policy of India has given fame to our nation: EAM Jaishankar
External Affairs Minister S Jaishankar praised Prime Minister Narendra Modi for enhancing India's global reputation through foreign policy initiatives during an event in Shimla.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
Railways stocks: Stay bullish, just hedge a bit to avoid mistake of selling in haste: 7 outperforming railways stocks across different segments
Even the best of the rational brain can make wrong decisions when there is too much noise which gets created due to a narrative. Now for the last few days a narrative has been created that due to polls, FPI are selling. These kinds of narratives tend to hit the sector and stocks which are sitting with big gains and are dependent on government policy push. Railways was among the last sectors to get re-rated due to the policy focus. Whether it was companies which are financing the expansion of railways or private sector companies which are making coaches, all of them have done extremely well. Given the fact the railways is likely to be the focus area, the long term story remains intact. Only thing is that one might end up selling the long term winner early because of the narrative. Rather than getting jittery, it would be better to create a hedge and stay with the stocks where there has been a big change in the fundamental ways things operate and the sector has a long runway.
PM Modi responds to Rashmika Mandanna's post on Mumbai's Atal Setu
Prime Minister Narendra Modi responded to Rashmika Mandanna's post about the Atal Setu in Mumbai, where she praised the bridge's efficiency in reducing travel time from two hours to 20 minutes. Mandanna also emphasized the bridge's role in showcasing India's rapid infrastructure advancements.
Large PSUs' capital expenditure reaches ₹50,200 crore in April FY25, slower growth than previous year
Large public sector companies in India spent over Rs 50,200 crore on capital expenditure in April FY25, 6.46% of the annual target of Rs 7.77 lakh crore. Spending was lower than in April FY24. The Finance Ministry expects spending to increase. Railways, roads, and oil and gas sectors drove the expenditure.
'Forget June 10, BJP won't be able to win Odisha in next 10 years': Naveen Patnaik takes on PM Modi
Patnaik challenges BJP's future in Odisha, emphasizing BJD's return. Criticizes Modi for unkept promises and neglecting Odisha's interests. Highlights upcoming elections and regional concerns.
Road ministry launches a pilot project in Chandigarh to provide cashless treatment to road accident victims
The Ministry of Road Transport and Highways (MoRTH) has launched a pilot program to provide cashless treatment to victims of road accidents caused by motor vehicles in Chandigarh. The program will allow victims to receive up to Rs 1.5 lakh per accident per person for seven days. The benefits apply to all road accidents, and the government has co-opted the Ayushman Bharat PM Jan Aarogya Yojana for trauma and polytrauma cases.
Bharat Highways Invit debuts with 1% premium over IPO price
Bharat Highways Invit's IPO debuts on NSE with a 1.1% premium and 8 times subscription. The company plans to use the proceeds to repay debt. The IPO is valued at Rs 2,500 crore.
Speed of infra development will be accelerated manifold in next 5 years: PM Modi
Prime Minister Narendra Modi aims to accelerate infrastructure projects to make India the third largest economy. He inaugurated projects worth Rs 10 lakh crore and took a dig at Congress. His plan focuses on large-scale development and making India a developed nation by 2047.
Bharat Highways Invit IPO allotment: Check status, GMP, listing date and other details
Bharat Highways Invit IPO Allotment Status: Bharat Highways Invit IPO received strong institutional investor subscription. Share allotment to be finalized. Refunds on March 5, listing on March 6. Proceeds for debt repayment and corporate purposes. Revenue of Rs 1,537 crore, profit of Rs 527 crore. Lead managers: ICICI Securities, Axis Capital, HDFC Bank, IIFL Securities.
PM Modi to launch multiple development projects in West Bengal, Bihar today
Prime Minister Narendra Modi is on a two-day visit to West Bengal and Bihar, where he will inaugurate, lay the foundation stone, and dedicate multiple development projects. In West Bengal, he launched projects in Arambagh on Friday and will continue in Krishnanagar on Saturday, including power, rail, and road projects worth Rs 15,000 crore. In Bihar's Aurangabad, he will unveil projects worth Rs 21,400 crore, focusing on highways, bridges, railways, and energy. These projects aim to boost infrastructure and economic growth in the regions.
Bharat Highways Invit IPO: Check subscription on Day 3 and other details
The issue subscription stood at 2.8 times so far on Day 3 as the IPO received bids for 29.4 crore units as against 10.3 crore units on offer. The net proceeds from the issue will be utilised for providing loans to SPVs and for other general corporate purposes.
Bharat Highways Invit IPO: Check subscription on Day 2 and other details
Analysts advised investors to subscribe to the issue as the Invit seeks to expand its asset base through strategic acquisitions. It may also benefit from the government's enhanced focus on infrastructure.
Bharat Highways Invit IPO: Check subscription on Day 1 and other details
Analysts advised investors to subscribe to the issue as the Invit seeks to expand its asset base through strategic acquisitions. It may also benefit from the government's enhanced focus on infrastructure.
Bharat Highways InvIT IPO opens for subscription. Should you bid?
Bharat Highways InvIT IPO: The IPO of Bharat Highways InvIT has opened for subscription to raise Rs 2,500 crore. The net proceeds will be used for loans to project SPVs and other corporate purposes. Analysts advise subscribing as the company plans to expand its asset base through acquisitions and benefit from government focus on infrastructure.
Ahead of IPO, Bharat Highways InvIT collects Rs 826 cr from anchor investors
The InvIT has allotted 8.26 crore units to 37 funds at Rs 100 apiece, aggregating the transaction size to Rs 826 crore, according to a circular uploaded on the BSE website.
Bharat Highways Invit IPO opens on Wednesday. 10 things to know about Rs 2,500-cr offer
Bharat Highways Invit IPO: Bharat Highways Invit is an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust, as permissible under the Sebi InvIT regulations.
Amit Kumar Singh on how Bharat Highways InvIT works
Amit Kumar Singh, GR Highways Investment Managers, projects that FY24 EBITDA will exceed Rs 1,000 crores. Despite a decline in revenue, profits have improved. The Bharat Highways InvIT will include seven special purpose vehicles (SPVs). A ROFO arrangement with GR Infra will help address revenue blips and extend the life of the InvITs.
Exicom Tele Systems, Platinum Industries among 6 IPOs to open this week. Check details
The Indian IPO market continues to be buoyant with six public offers set to open this week. Analysts said the relentless primary market activity is backed by optimistic investor sentiment, a robust economy, expectations of lower inflation, and rate cuts in 2024.
Bharat Highways Invit to offer its units at Rs 98-100 in IPO, which opens on Feb 28
Bharat Highways Invit has priced the IPO in the range of Rs 98-100 per unit with the issue opening on February 28. The infra-investment trust is offering units worth Rs 2,500 crore through the IPO. About 75% of the issue will be available for allocation on a proportionate basis to institutional investors, and 25% will be available for non-institutional investors.
Bharat Highways Invit to launch Rs 2,500-crore IPO on February 28
Bharat Highways had filed DRHP for the IPO in December 2023 and received approval for the same earlier this year. The issue price is yet to be determined. The company proposes to use the net proceeds to repay debt availed by the project SPVs and for general corporate purposes.
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