INFRA MARKET ACQUISITIONS
Monsoon is a cyclical headwind, but infra push and M&A are bigger tailwinds for long term investors: 5 cement stocks with upside potential of up to 44%
Cement is a sector which has probably seen maximum mergers and acquisition in the last three years. Right from the second biggest player witnessing a change in ownership, to small players being taken over. With the monsoon coming, there is always a cyclical pressure on cement stocks, with the narrative being that in monsoon construction activity slows down. Even this week it played on the street, with cement stock witnessing a decline. But the question is whether this correction in stock price gives an opportunity to investors to get into a sector which is witnessing a fundamental shift in terms of how the demand curve pans out. Probably the answer is tilted toward yes for at least some players.
Bajaj Finance can become best pick in financial space amongst largecaps in one or two quarters: Digant Haria
Whatever growth will pick up will probably happen on the infra corporate side. HDFC is not known to be very strong on those sides. So, I do not see that growth and the margin problems will get solved in the immediate quarter and the stock has had a good run up along with the market. So, I think people should celebrate and you have to wait for a few more quarters before the results actually fire up.
Koo calls it a day; Paytm Bank, auditor lock horns
Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.
JSW Infrastructure seals deal; to buy Navkar Corporation
JSW Infra has finalized an agreement to purchase all shares held by the promoters of Mumbai's Navkar Corporation, which operates in the container handling sector, according to a disclosure to the stock exchange. Navkar Corporation offers a range of complementary products to the ports owned and managed by the Sajjan Jindal-group company. JSW Infra will pay Rs. 1,013 crore in cash for the stake acquired from Navkar Corporation's promoters.
Energy, manufacturing & infra to remain bedrock of India's bull market: Nilesh Shah
It is very likely that these very sectors are going to basically get a fresh impetus. You are right that yes, in term one, these pockets did not yield returns. But in the second term, especially post COVID, we have seen massive returns and I probably think that is only the start, be it defence, be it space, be it many of the other areas.
Infra mutual funds among top winners in last 5 years of Modi government
Infrastructure sector-based mutual funds, including Quant Infrastructure Fund, Invesco India PSU Equity Fund, and Nippon India Power & Infra Fund, have been top winners in the last five years of the Modi government, offering impressive absolute returns up to 380%.
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Infra push, talent access helps satellite cities reshape India's commercial realty
India's commercial real estate landscape in satellite and tier II cities is undergoing significant transformation due to robust infrastructure development, strategic urban planning, talent availability, and lower cost of living. Cities like Navi Mumbai, Pune, Gurugram, Noida, and Hyderabad have seen extensive investment in road networks, metro connectivity, and digital infrastructure, making them attractive hubs for businesses.
NHAI's infra trust got $217.13 mn in FY24 from Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPP Investments) announced investments totaling USD 217.13 million in the National Highways Infra Trust and USD 394.78 million in Interise Trust for road concessions acquisition. Additionally, they committed USD 100 million to Kedaara Capital Fund IV and USD 300 million to an India-based asset manager focusing on credit opportunities. The organization manages funds for over 22 million contributors and beneficiaries of the Canada Pension Plan, investing globally in various asset classes.
Beat stock market volatility with Sharpe ratio: 8 stocks with up to 37% upside potential
Stocks that have delivered good risk-adjusted returns can effectively manage the rising market uncertainty.
Wipro Infra Engineering’s hydraulics business acquires Canadian firm
Wipro Hydraulics acquires Mailhot Industries, expanding into new markets and strengthening its global presence. The acquisition enhances capabilities in various segments and positions the company for better customer service and leadership in the industry.
Tailwinds of coordination between central and state governments: 7 companies from road construction and infrastructure sector
While government policy impacts every sector in one way or another, there are some sectors where government policy is the most important factor both for growth and survival. Why it is important, because all of the spending in that sector is done by the government, it could be central or the state government. At first, it was the central government, but if one looks at how important it has become for gaining political capital, every state government has been focusing on road and highway construction. The impact of a coordinated effort between state and central government is that the lead time for the construction of roads comes down very sharply. This has a positive impact on the bottomline of the companies, right from lower requirement of working capital to higher turnover in terms of companies being able to securitize their assets to other players or private equity funds and move on to take on other projects leading to higher growth in bottomline.
Ajmera Realty & Infra records two-fold growth in January-March sales
“We have achieved our highest ever pre-sales figures, totalling Rs 1,017 crores in FY24, in alignment with our stated guidance. The company's efforts have yielded remarkable results across aggressive acquisitions, business development endeavors, and execution strategies, underscoring excellence in every aspect of our operations,” said Dhaval Ajmera.
Alta Capital looking to invest over $1 billion in India's educational infra
The firm has already invested over $1 billion across warehousing, managed workspaces, student housing and educational infrastructure businesses in less than a year of operations till December, which also marked its purchase of education infrastructure development services company Cappella Educore for $200 million. Alta Capital had earlier acquired Goldman Sachs' and Warburg Pincus' 100% stake in student housing platform Good Host Spaces for $320 million in the largest-ever student housing deal in the country.
Rays Power Infra bags 3 solar projects of 520 MWp
Rays Power Infra has secured three solar projects totaling 520MWp capacity from two central public sector firms and one global developer. These projects demonstrate the company's commitment to sustainable energy solutions. With these orders, the company enters the Gujarat and Assam markets, becoming a key player in 14 states in India
Goa's Mopa Airport spurs realty activity
"Not only from cities in India, Indians living in other countries are also very keen to invest in a holiday home. The airport has led to development in areas where large land is available and developers can plan multiple facilities," said Aditya Kushwaha, CEO and director, Axis Ecorp, which has Axis Blues, Axis Yog Villas and Axis Lake City projects in various stages of development.
Digital banking infra provider Signzy acquires Difenz at $5 million valuation
The acquisition also gives an exit to early-stage venture capital fund 8i Ventures, which had invested Rs 4.5 crore in a seed round in Difenz.
Actis to acquire Patel Infra's HAM assets for Rs 1,500 crore
UK-based investor Actis is set to acquire a portfolio of operational and under-construction Hybrid Annuity Model (HAM) road assets from Patel Infrastructure Limited (PIL) in India. The deal, with an enterprise value of approximately INR 1,500 crore ($180 million), includes two operational assets and two under-construction projects.
JSW Infrastructure to buy majority stake in PNP Port for ₹270 crore
JSW Dharamtar Port, a wholly-owned subsidiary of JSW Infrastructure, has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company.
Infra.Market sells 10% stake in RDC Concrete for $20 million
The current fundraise values RDC Concrete at $225 million, Infra.Market said. It had acquired RDC Concrete for $90 million in September 2021.
Fintech infra players see investor interest; midcap IT firms outdo larger peers
New-age fintech infra companies are gaining the spotlight as the venture industry seeks out more predictable business models in a fraught market. This and more in today’s ETtech Morning Dispatch.
Revolt Motors looks to ramp up sales infra, roll out new products
Revolt Motors, an electric bike maker, plans to expand its sales infrastructure and introduce new products as part of its growth strategy. The company, which was acquired by RattanIndia Enterprises, also aims to enter international markets. Revolt Motors plans to increase the number of dealerships in India from the current 100 to 500 within a year, and potentially exceed 1,000 within the next two to three years. The company currently sells one electric bike in the country and intends to consolidate its presence in the bike space before diversifying into electric scooters.
Ajmera Realty secures redevelopment project in Mumbai’s Borivali, aims Rs 330 crore sales
Ajmera Realty & Infra India has secured the rights to redevelop four housing societies in Mumbai, generating an estimated revenue of Rs 330 crore. The project is part of the company's strategy to focus on the rapidly expanding redevelopment segment in the Mumbai Metropolitan Region. With a planned launch in 2024, the company aims to accelerate its five-fold growth strategy by delivering projects on time and strategically launching new projects with a gross development value of Rs 1,800 crore.
3 mainboard and 1 SME IPO to hit primary markets this week. Check details
"A strong pipeline of over USD 9 billion, which has been approved by capital markets regulator Sebi, and another USD 6 billion filed with the capital markets watchdog, of which USD 10 billion should fructify. Remaining fiscal 2023 looks promising for primary markets," Mahavir Lunawat, Managing Director of Pantomath Capital Advisors
Gulf Oil Lubricants scouting for more acquisitions in the EV charging infra space
Gulf Oil Lubricants is on a lookout for more acquisitions in India and globally within the charging EV ecosystem as it seeks to strengthen its presence in the electric mobility segment where it’s a new entrant. The Hinduja Group company announced acquiring a controlling stake in Tirex Transmission for Rs 103 crore on Monday
Tata Realty & Infra buys 25-acre land parcel in Bengaluru for Rs 986 crore
Tata Realty and Infrastructure Ltd (TRIL), the real estate development arm of Tata Group, has acquired a land parcel spread over 25.3 acres in Doddanekundi near Whitefield locality in Bengaluru for over Rs 986 crore. The company has bought the land parcel from Graphite India through its wholly owned subsidiaries TRIL Bengaluru Real Estate Five Ltd and TRIL Bengaluru Real Estate Six Ltd.
RBI MPC, FII action, Q1 earnings among top 10 factors to drive Dalal Street mood this week
Plenty of data to be announced by the US this week including those on trade balance, CPI, initial jobless claims, wholesale inventories and consumer sentiments. The UK will declare industrial production, manufacturing production and GDP data. China will announce its FDI, CPI, producer price index (PPI) and trade balance data
Infra.Market to buy majority stake in Strata Geosystems for $111 million
The business-to-business (B2B) platform for construction materials plans to fund the acquisition by raising $150 Million from Varde Partners through an issuance of convertible notes, cofounder Souvik Sengupta told ET on Monday.
How banks’ infra play will ensure another record year for bonds
India's infrastructure focus, particularly on roadways, appears to be moving at a fast pace, with banks playing a significant role in funding infrastructure. Despite reservations, banks have issued "infrastructure bonds" at a record high, and this greater acceptance could sustain the government's drive to boost the sector. Indian bond issuance is expected to become another record high as the government looks to crowd in private capex with its record capital expenditure. While it is traditionally preferred to use specialised institutions such as insurance and pension funds who have long-term liabilities, banks lending for infrastructure remains significant.
Blackstone says India top Asian market, eyes infra investments
The U.S-based firm, which manages nearly a trillion dollars in assets globally, said India is one of its best-performing markets
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