GREENFIELD INVESTMENT
Assam's Industry Minister Bimal Bora visits Pepsi India project site at Nalbari
Assam's industrial policy has led to over Rs 3,000 crore in mega investments, with Pepsi India being the largest FDI. The Greenfield Project at Nalbari, worth Rs 778 crore, aims to enhance job opportunities and provide livelihood opportunities for farmers growing potato crops. The company provides advanced technology, seeds, machinery, and women's skills training.
Adani to invest Rs 2 lakh crore in renewable energy capacity addition by 2030
Adani Group plans to invest Rs 2 lakh crore by 2030 to achieve 40 GW of renewable energy generation capacity, aiming for net zero emissions by 2050. With over 10 GW capacity currently, they aim to add 6-7 GW annually to reach 50 GW by 2030. The investment is estimated at Rs 5 crore per megawatt. Adani Green Energy Ltd has added 2.8 GW capacity in FY24.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 43%
While the indices might be witnessing correction on intra intra-basis, the broader markets are still very much under the control of the bulls. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
India drops seven notches in global FDI ranking, inflows down 43% in 2023
Global FDI fell 2% to $1.3 trillion in 2023 amid an economic slowdown and rising geopolitical tensions. FDI flows to developing countries dropped 7% to $867 billion. Tight financing conditions led to a 26% fall in international project finance deals, critical for infrastructure investment. “Among the top 20 host economies, the largest absolute drops were registered in France, Australia, China, the US and India, in that order,” it said.
Cricketer Muttiah Muralitharan to scale up investments in his Chamarajnagar soft drink unit
Sri Lanka's cricket icon Muttiah Muralitharan met with Industries Minister MB Patil to discuss plans for expanding his soft drink manufacturing business in Karnataka. Muralitharan aims to increase investments in his greenfield unit located in Chamarajanagar district, initially planned at Rs 1000 crore, to Rs 1400 crore. He also expressed commitment to his project in Dharwad for manufacturing beverage cans.
India can achieve a growth rate of 8-9% by 2031: KV Kamath
Today, capital growth happens through cash accruals, through equity raising as required, and access to capital markets, so that part is probably going to be so in the future also, except for infrastructure. So, where will financial services then, as we understand, go? Basically, it will need to drive the aspirations of the people. The retail at large and this is so everywhere in the world.
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Maruti Suzuki to invest Rs 450 crore over the next 3 years on renewable energy initiatives
Maruti Suzuki India plans to invest Rs450 crore in renewable energy initiatives like solar power and biogas over the next three years. The company has commenced production at its biogas plant at its Manesar facility by harnessing food waste and Napier grass resources.
India's electric car incentives limited to new investments: Officials
The Indian government's scheme to promote local production of electric cars will offer incentives only to automakers investing in new manufacturing facilities in the country, officials have revealed. Foreign firms, including those already operating in India, can apply for benefits under the Scheme for Manufacturing of Electric Cars (SMEC) but with no retrospective approval for previous investments.
PE Fund Mapletree acquires Bengaluru land for over Rs 1,900 crore
Adarsh Developers, a real estate development company, has recently completed the sale of a 41-acre land parcel in Bengaluru to Mapletree Investments, a private equity fund based in Singapore. The transaction, valued at over Rs 1,900 crore, forms a key aspect of Adarsh Developers' strategy to alleviate debt burdens. With an estimated development potential of approximately 7 million square feet, the land sale represents a significant step forward for both parties involved.
Vi board approves allotment of equity shares worth Rs 2,075 crore to ABG entity
Vi's board approved allotting equity shares worth Rs 2,075 crore to an Aditya Birla Group entity, marking the conclusion of its over Rs 20,000 crore fundraising plan via the equity route.
JSW Cement to invest Rs 3,000 cr to set up manufacturing facility in Nagaur, Rajasthan
JSW Cement plans to invest around Rs 3,000 crore to establish a cement manufacturing facility in the Nagaur district of Rajasthan. The greenfield facility will include a clinkerization unit and a grinding unit, with an 18 MW waste heat recovery-based power generation system. The investment is expected to create over 1,000 job opportunities and includes a 7-km overland belt conveyor for transporting limestone from mines to the plant.
Hospital chain Artemis Medicare raises Rs 330 crore from IFC
Artemis Medicare Services has raised Rs 330 crore from IFC to increase bed capacity and introduce advanced specialty services. The company plans to set up cardiac care centers, expand in tier 2 and 3 cities, and in the Delhi NCR region through brownfield and greenfield opportunities. Artemis operates 713 beds in the Delhi NCR region and runs seven centres under the Artemis Cardiac Care brand in a joint venture with Philips.
Founder Sachdev to retain majority stake in Centre for Sight
The Padma Shri awardee, who previously headed the ophthalmology department at All India Institute of Medical Sciences, told ET that he would be among the few entrepreneurs in this sector to remain in control of his company after private equity investors swamped the space announcing a slew of investments in the past 24 months.
Manipal Hospitals announces brand integration of AMRI units; plans to start liver transplantation
The Manipal Hospitals, which announced the official brand integration of all three AMRI units in Kolkata, is planning to soon start liver transplantation here, an official said. The Manipal Hospitals, which has invested a total of Rs 2,200 crore in acquiring the three units of AMRI, Dhakuria, Mukundapur and Salt Lake last September, MD & CEO of Manipal Hospitals Dilip Jose told reporters.
Spectrum sale: Limited airwaves, huge investments discourage new entrants, say analysts
Analysts point to a lack of spectrum availability in key bands, coupled with high initial investment requirements of $16 billion for 5G airwaves and network rollouts, as key reasons why no new bidders have applied for the upcoming spectrum auction in Kolkata. Existing operators like Reliance Jio and Bharti Airtel have already deployed countrywide 5G networks, further deterring new entrants due to the significant costs involved.
NHAI set to incorporate wayside amenities into design of highways
NHAI is targeting 1,000 wayside amenities over the next five years--one at every 50 km along national highways--against 600 envisioned earlier in partnership with the private sector, a senior government official told ET.
Centre studying innovative ways to boost infrastructure funding
Government plans to capture land value increase from road projects through mechanisms like auctioning exits and betterment levy to boost infrastructure funding. Studying global best practices for innovative financing methods.
Exide Industries further invests nearly Rs 40 cr in advanced chemistry battery cells making arm
EESL is into manufacturing battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch, prismatic, as well as manufacturing, assembling, selling battery modules, battery packs and other related activities, the company said.
DCM Shriram to invest Rs 1,000 cr on greenfield epoxy resin plant over next few yrs
DCM Shriram, a diversified agri firm, plans to invest Rs 1,000 crore in a greenfield plant for epoxy resin manufacturing in the Advanced Materials domain. The company's Epichlorohydrin plant in Jhagadia, Gujarat is near completion.
Dabur to set up greenfield facility in south India; to invest Rs 135 cr
This will be the 14th domestic manufacturing location of the company, which owns brands such as Dabur Amla, Dabur Vatika, and juice brand Real.
Mahindra Holidays & Resorts India to invest Rs 800 cr to set up 3 new resorts in Tamil Nadu
Mahindra Holidays & Resorts India Ltd plans to invest Rs 800 crore in Tamil Nadu to build three greenfield resorts over the next five to six years. The investment will generate employment opportunities for over 1,500 people and contribute to the state's economy. The second-largest investment by MHRIL, follows a Rs 1,000 crore investment in Uttarakhand
Sunsure Energy commits Rs 3,150 crore investment in Tamil Nadu over 3 years
"Sunsure Energy signs MoU with Tamil Nadu for Rs 3,150 crore investment in the state's renewable energy capacity over the next 3 years. The agreement is aimed at bolstering Tamil Nadu's renewable energy capacity through four greenfield projects with a combined capacity of 500 MW," it said.
Relaxation of prohibition in GIFT City draws flak from Congress
It may be mentioned here that one Friday, Gujarat Government declared that the employees of the GIFT City as well as authorised visitors to the companies within GIFT City will be lawed to consume alcohol in designated areas in a bid to facilitate “wine and dine” services offered by the restaurants. However the restaurants will not be allowed to sell liquor bottles, the government added.
View: What India needs to sustain its infrastructure development momentum
Compared to FY2019, four sectors - roads and highways, power transmission, RE, and ports - have a score of greater than 70% in Crisil's InfraInvex index in FY2023, while RE, railways and power have logged improvement of over 15% (compared to 2019), driven by reforms and improvement in financial metrics. The next phase of infra development will be shaped by growth in the average ticket size of projects and a significant number of mega-scale projects.
NIIF plans to invest up to Rs 675 crore on upcoming greenfield int'l airport in Andhra
"NIIF's investment in GVIAL represents the Fund's second airport project, underscoring our commitment to participate in the implementation of the government's ambitious National Infrastructure Pipeline," Vinod Giri, Managing Partner for Master Fund at National Investment and Infrastructure Fund Ltd, said. NIIF's Master Fund is India's largest infrastructure fund with a robust and well-diversified portfolio across transportation, energy and digital infrastructure, he said.
Mitsubishi Electric has launched new manufacturing facility in Maharashtra
Mitsubishi Electric India’s Factory Automation & Industrial Division holds a presence in India since over a decade and is contributing to varied Industrial and commercial sectors including automotive, food & beverages, pharmaceuticals, textiles, and has been increasingly catering to upcoming diverse sectors like data centres, e-commerce and many more.
As global companies chart course for India, FDI set to rise
The UN agency reiterated its recent findings that India is among the top three in greenfield FDI announcements. This suggests that the country may be pulling in fresh global capacity expansion as part of supply chain diversification, a senior finance ministry official told ET. It expects these to translate into higher investment flows by 2024, the official said.
Ashok Leyland to invest Rs 1000 crore in a greenfield plant in UP for making e-buses
Ashok Leyland, the Hinduja Group's flagship company, has signed an agreement with the Uttar Pradesh Government to set up a greenfield plant for manufacturing electric buses. The company will invest Rs1000 crore into the facility, which will have the capacity to produce 2500 buses per year initially and can be scaled up to 5000 vehicles per year in the next decade. The government of Uttar Pradesh has committed to facilitating the sale of electric buses for its own fleet and other stakeholders for the next five years through Ashok Leyland's subsidiary, Switch Mobility.
Western firms shift investment from China to India as worries mount
These companies are turning their backs on the world's second-largest economy even as its share of global growth continues to increase, highlighting how concerns over China's business environment, economic recovery and politics weigh heavy on the minds of foreign investors.
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