INDIA ROAD TO RECOVERY
Consolidation push to continue as key raw material gets scarce: 11 small cap cement stocks which fit the bill and may see some action
In less than a month, two cement majors clearly showed their intent. The intent is to grow through an inorganic route. One by complete acquisition, the other by taking a large stake in the company. Another common thing, both of them are focussed on the southern part of India, where the cement companies have a history of being under pressure. So why are they looking toward southern India? The answer lies in something else. It is one of the key raw materials that have become scarce and that is what is leading to a situation where big players clearly know that if they have to grow their capacities they have to pick on companies which have access to that critical raw material. This aggressive consolidation is likely to continue and it is the smaller players which are likely to be targeted.
How will FMCG, IT and realty sector perform going ahead? Mayuresh Joshi answers
Our own take at Marketsmith India is that the reform processes which have continued for 10 years, there would not be any significant change in terms of capital allocation for a whole host of schemes that the Modi government has embarked upon. Infra development and infra allocations are expected to double over the next five years.
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Budget likely to stick to fiscal road map: UBS
UBS predicts that the new government will follow a medium fiscal consolidation path but with a populist tilt in its first budget after the elections. The RBI's higher-than-expected dividend transfer to the government provides fiscal leeway for populist spending, especially to support lower-income groups. The government is expected to target a fiscal deficit of 5.1% of GDP in FY25, aiming to reduce it further to below 4.5% of GDP by FY26. While tougher reforms may be challenging, supply-side reforms like manufacturing, labour laws, and skill development are likely to continue.
ETMarkets Smart Talk: Roads, railways, and defence should be in focus in Budget session of Modi 3.0
The sharp 6% fall in markets was a result of people expecting for a BJP majority based on the exit polls, with the actual results turning out to be a black swan event.
Capital-in-waiting? Election results ignite real estate frenzy in Amaravati, prices soar 50%-100% in 3 days
The 2024 Indian elections brought more than political shifts, with Amaravati witnessing a staggering 50%-100% surge in real estate prices within days of the results, according to The Times of India. The victory of the TDP, Jana Sena, and BJP alliance resolved uncertainties about the capital, reigniting buyer interest. All eyes are on Prime Minister Narendra Modi's anticipated statement during N Chandrababu Naidu's upcoming swearing-in ceremony as CM on June 12 near AIIMS in the capital region.
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Rajasthan leader of Opposition and Congress leader Tika Ram Jully injured in road accident
Rajasthan's Opposition leader Tika Ram Jully injured in road accident after collision with Nilgai near Bhandarej on Delhi-Mumbai Expressway, taken to Dausa District Hospital for treatment.
My deepest condolences: Rajasthan CM Bhajanlal Sharma expresses grief over loss of lives in Rajgarh accident
Rajasthan Chief Minister expressed grief over the death of 13 citizens of Jhalawar district near Rajasthan-Rajgarh border. The accident occurred on Piplodi Road in Madhya Pradesh.
Ludhiana toll road lenders approve NARCL's Rs 270 cr offer to settle debt
The Ludhiana Toll Road project, initially planned to be completed by 2014, became a non-performing loan due to delays. PNB is the lead lender, with other creditors including Central Bank and Indian Overseas Bank.
"Could not even brush for two months": Rishabh Pant recalls struggle after car accident
India wicketkeeper-batter Rishabh Pant opened up about his life-threatening road accident in December 2022. He revealed the severity of his injuries which left him unable to even brush his teeth for two months. Despite facing multiple fractures and undergoing extensive treatment, Pant made a comeback in IPL 2024 after 15 months of rehabilitation. The batter will be seen in the upcoming ICC Men's T20 World Cup.
Construction equipment sales rise 26% to 1,35,650 units in FY24: ICEMA
India's construction equipment industry saw a 26% increase in sales to 1,35,650 units in the 2023-24 fiscal, thanks to the government's infrastructure-led growth agenda. The Indian Construction Equipment Manufacturers' Association (ICEMA) reported that the industry sold 1,07,779 units in the previous fiscal year. The government's infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments.
Munawar Faruqui hospitalised? ‘BB17’ winner shares pic of himself with IV drip attached on Instagram
Although specifics regarding his health status remain undisclosed, fans swiftly expressed their well-wishes. The hashtag "Get well soon Munawar" quickly gained traction on X.
After the deluge, resilience, recovery, and damage assessment in Dubai
Dubai recovers slowly after rains. Flight cancellations, relief efforts, and heroic deeds unfolded. UAE's tourism sector impacted. Indian embassy advises rescheduling travel. Emirates Airline halts local check-in to support operations recovery.
NARCL makes binding bid for Essel Infra's road project debt
The National Asset Reconstruction Company of India (NARCL) has offered to acquire ₹271 crore in debt from the Ludhiana Talwandi Toll Road (LTTRPL), a road project awarded to Subhash Chandra's Essel Infraprojects in Ludhiana. The project is a 78-kilometre four-lane stretch of the National Highway-95 between Ludhiana and Talwandi Bhai in Ferozepur district via Moga in Punjab.
Biden approves $60 mn in aid after Baltimore bridge collapse as governor warns of 'very long road ahead'
The devastation left behind after the powerless cargo ship struck a support pillar early Tuesday is extensive. Divers recovered the bodies of two men from a pickup truck in the Patapsco River near the bridge's middle span Wednesday, but officials said they have to start clearing the wreckage before anyone could reach the bodies of four other missing workers.
China to launch 'international manhunt' to target officials involved in graft in BRI projects: Report
The Central Commission for Discipline Inspection (CCDI), the ruling Communist Party of China's anti-corruption watchdog, made the call in a meeting on Tuesday with multiple agencies involved in the cross-border corruption hunt, the Hong Kong-based South China Morning Post reported.
"A really happy moment for us...": BCCI vice-president Rajeev Shukla on Rishabh Pant being declared fit for IPL 2024
The Board of Control for Cricket in India (BCCI) on Tuesday gave a major update on Rishabh Pant's recovery from injury and said that the wicketkeeper batter has been declared fit to take part in the upcoming Indian Premier League (IPL) 2024. The India wicketkeeper batter missed the IPL 2023 after suffering multiple injuries in a horrific car accident on December 30, 2022. He even missed the ICC Cricket World Cup last year at home.
Over 600 fall sick after eating prasad in Maha; patients get treatment on road with saline bottles hanging from rope
In a tragic turn of events, more than 700 individuals became ill after consuming 'prasad' at a religious event in Lonar, located in Buldhana district of Maharashtra, during the 'Harinam Saptah' festival in Somthana village. Buldhana district collector Kiran Patil mentioned that a team of doctors, along with an ambulance and essential medical equipment, has been stationed in the village to address any potential medical emergencies.
NARCL offers ₹270 cr for Pink City Expressway, recovery likely at 15%
The government-backed bad loan aggregator, National Asset Reconstruction Co (NARCL), has made a ₹270 crore offer for Pink City Expressway Private Limited (PCEPL), the company which was formed to build, operate and maintain the six-lane Gurugram-Kotputli-Jaipur section of the Delhi-Jaipur highway. PCEPL has ₹1,761 crore of outstanding loans and another ₹30 crore of bank guarantees.
Maruti Suzuki is in the fast lane to growth; why analysts are bullish on the stock
Analysts feel the company will benefit from the improving prospects of the auto industry due to rising income levels and car penetration.
Sion Panvel Tollways gets three bids
The company that defaulted on its ₹1,536 crore loan has received bids from Kalyan Tollways, Prakash Asphaltings & Toll Highways (India), and a consortium.
No tolled highway with full capital cost recovery: Nitin Gadkari
Replying to a separate question in the Lok Sabha, Nitin Gadkari said road safety audit of all National Highways projects has been made mandatory at all stages of design, construction, operation and maintenance through third-party auditors/experts.
Clutch of funds in race for NIIF's $1.2 billion roads portfolio
Global infrastructure majors signing the Non-Disclosure Agreement (NDA) include Spanish company Abertis, French road developer VINCI Highways, PE fund KKR and two Canadian funds - CDPQ, Canada Pension Plan Investment Board (CPPIB). A road operator from South Korea is also interested and signed the NDA but its name could not be independently ascertained yet.
If construction is booming, why are consumer staple sales so anaemic? Neelkanth Mishra explains
“Some of the trackers that our Axis Capital colleagues who cover consumer track show that FMCG baskets are 30% more expensive than they were three years back and if you have that level of inflation, then obviously,volumes will start getting affected and which perhaps is also a reason why some of the smaller manufacturers are making inroads.”
India smartphone market fell 3% in Q3, but gradual recovery seen: Canalys
The smartphone market in India saw a gradual recovery in the quarter ended September 2023, with 43 million shipments. Samsung remained the top brand with a market share of 18%, followed by Xiaomi in second place. Vivo dropped to third place, while Realme and Oppo finished fourth and fifth respectively. The market saw a surge in demand for budget-friendly 5G options, with brands like Xiaomi and Realme performing well.
Nawaz Sharif to unveil 'recovery plan' for Pakistan at Minar-e-Pakistan gathering on October 21
Former Pakistani Prime Minister Nawaz Sharif is set to give a roadmap to address the country's economic crisis during a gathering in Lahore on October 21. The Pakistan Muslim League-Nawaz (PML-N) party has been granted permission to hold the event, where Sharif will outline plans to pull the country out of its financial difficulties. PML-N Vice President Hamza Shehbaz stated that Pakistan will restart its journey towards progress and prosperity with Sharif's return.
Fugitive diamantaire Nirav Modi's solar plant, Pedder Road flat up for auction to salvage PNB dues
The Debt Recovery Tribunal-I in Mumbai has put up a solar power plant belonging to a group entity of Nirav Modi, the absconder diamantaire, for auction in an attempt to recover a portion of his dues. The solar power plant, valued at Rs 12.40 crore, is located in Maharashtra's Ahmednagar district. Additionally, Nirav Modi's flat in Mumbai and two large land parcels will also be auctioned off.
Carbon capture can free India from the bind of growing without polluting
Capturing CO2 emitted by industries looks like a viable option to keep the economic engines running without harming the world. As a country that cannot afford to slow its pace of growth, India — the third-largest emitter of CO2 — should aggressively invest in this technology.
Rishabh Pant continues on road to recovery, hits gym
Rishabh Pant is recovering from multiple injuries sustained in a car accident last year.
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