Modi govt’s road dreams may take a backseat on cash flow and debt issues
High cost inflation for road projects, cash flow challenges for road EPC companies and elevated debt levels for NHAI mean that road awards will continue the muted trends seen in FY23 and April 2023. Analysts have said that awarding of projects may slow down ahead of the general elections in 2024. Key Points
Economic TimesNoida to complete half stretch of Bhangel elevated road by end of Feb
The Noida authority plans to open half of the Bhangel elevated road by February-end, aiming to provide smooth connectivity to commuters. The 5.5km elevated track has faced delays and caused congestion on the Dadri road. The authority has directed the engineers to complete the left side of the road and ensure compliance with safety standards. Key Points
Hindustan TimesVery difficult for Indian bond yields to slide lower from here: Lakshmi Iyer
“Incrementally from here for yields to slide lower looks very difficult. It is being capped at maybe 7.20, 7.25 levels, largely because of the announcement of the index inclusion, which is still some time away. Near-term global headwinds are going to be weighing on the sentiments and could prevent a significant rally from the current levels.” Key Points
Economic TimesETMarkets Smart Talk: Stay put! Nifty could give 20% return in Smavat 2080: Amar Ambani
“Real estate is one of our favourite sectors in the market. Demand for housing is extremely strong, even at these elevated rates of interest. Were witnessing more sales compared to launches and thus, residential inventory is at a decade low. Key Points
Economic TimesMMRDA to build protection wall near Airoli Katai Naka hillock
The Reinforced Cement Concrete (RCC) wall be set up at an estimated cost of Rs 73 crore. The project is expected to be completed in nine months, an official said. Key Points
The Indian Express
Telangana govt rejoins PM Fasal Bima Yojana scheme to safeguard farmers
The Telangana government has decided to rejoin the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme to provide crop insurance to farmers. Chief Minister A Revanth Reddy and state Agriculture Minister Tummala Nageswara Rao held a meeting with PMFBY officials to discuss the implementation of the scheme. The Ministry of Defence has also approved the construction of elevated corridors in Hyderabad after CM Revanth Reddy appealed to Defence Minister Rajnath Singh. Key Points
Economic TimesAntony Blinken says US-India partnership deepened, cooperation elevated through Quad
The Quad is a diplomatic network between Australia, India, Japan and the US. Blinken also said US partnerships in the Indo-Pacific have never been stronger. Key Points
ThePrintCabinet gives nod to HUDA City Centre-Cyber City metro project in Gurugram
The Union Cabinet on Wednesday approved Metro connectivity from HUDA City Centre to Cyber City in Gurugram, Union Minister Piyush Goyal said. The project will cost Rs 5,452 crore. The Cabinet, chaired by Prime Minister Narendra Modi, approved the entire elevated metro line covering 28.5 kilometres. The project is expected to be completed in four years. Key Points
Economic TimesInterest rates, borrowing costs in APAC to stay high this year, says Moody’s
Moody's predicts that interest rates in the Asia-Pacific region will remain elevated this year, despite moderating inflation. Central banks will adopt a slower pace of monetary tightening, but occasional rate increases may be necessary to guard against inflationary pressures. While the median inflation rate in the region is expected to decline, borrowing costs will stay elevated due to benchmark policy rates remaining above the levels of the last decade. Key Points
Economic TimesDelhi Airport set to get a capacity boost with new runway, taxiway
While a fourth runway will increase the number of air traffic movements per hour, an elevated taxiway connection will allow the aircraft to vacate the runway faster and shorten its taxiing time. Delhi Airport, operated by GMR Infra is the countrys largest airport and handles around 75-80 aircraft movements per hour. Key Points
Economic Times
Hypertension a silent killer, majority are still unaware: doctors
Doctors call Hypertension a silent killer because in many cases it is not diagnosed at all. Though hypertension cannot be cured, it can be managed through lifestyle changes, medication, and regular monitoring. Key Points
The HinduPart of Sohna elevated road caves in
A sinkhole appeared on the main carriageway of the Sohna elevated road in Gurugram, India. Two lanes have been barricaded to prevent accidents. Key Points
Hindustan Times'Indian stock market outperforms the global market, makes for attractive investment'
MSCI 1-month’s return is 8.0% compared to MSCI World’s 5.2%, 1Yr is 12% vs 13.8%, respectively. Key Points
mintAuto, energy sectors drag sensex, Nifty; small and mid-caps outperform
India Business News: Indian shares closed lower on Tuesday due to mixed auto sales data in September and concerns over elevated interest rates. The Nifty 50 index fell 0.5 Key Points
Times Of IndiaGold hovers near six-month low as dollar, yields weigh
(Reuters) - Gold edged up on Thursday but hovered near a more than six-month low hit in the last session, as the dollar and Treasury yields held at elevated levels, with markets awaiting U.S. economic Key Points
ThePrint
3 road construction & contracting focussed companies with ‘buy’ rating can rise up to 33%
The government spending on infrastructure projects, especially on roads has remained at elevated levels for the last nine years, this had a trickle down effect on many parts of the economy and specially companies which are involved in construction and contracting. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic TimesFor moderate risk takers: 5 midcap stocks with right levels of ROE and upside potential up to 37 %
While last week nifty did witness corrective movement. While the overall trend is still bullish and valuations are still at elevated levels. In such times, it would be better that while looking at stocks one should also focus on reducing the risk by taking a hard look at some numbers which are critical indicators. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “hold” or “buy” or strong buy . Key Points
Economic TimesUnion Cabinet approves extension of metro rail connectivity from HUDA City Centre to Cyber City
The Cabinet, chaired by Prime Minister Narendra Modi, approved the entire elevated metro line covering 28.5 kilometres. The project will cost Rs 5,452 crore and expected to be completed in four years. Key Points
FirstpostGold may decline on reduced safe-haven demand; Support is seen at $1969
Gold closed the week with a 1% loss at $1982.89, as US manufacturing and services expanded, sending yields up and the dollar stronger. Despite failing to push through at $2020, gold remains vulnerable in the short term. With the US Federal Reserve approaching a rate-hike pause, the eurozone and UK are expected to hike rates higher as inflation remains elevated. While gold's safe haven attribute is not driving its present strength, sustained weak indicators, including declining retail sales, negative outlook data, and elevated jobless claims, may be supportive to the metal in the longer term. Key Points
Economic TimesElection time; 5 construction & contracting companies with Strong Buy and Buy rating can rise up to 44
As we come closer to elections, both in states in 2023 and the general election of 2024. The government spending on infrastructure projects, which has remained at elevated levels for many years, may see a further push as many state governments rush to complete and announce more of them. This will have a trickle down effect on many parts of the economy and specially companies in contracting and construction. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic Times