12 towers of Delhi residence deemed unsafe, residents urged to vacate within 7 days
Residents of Signature View Apartment faced a severe eviction notice due to structural issues, rendering the complex unsafe. Constructed between 2007-2009, this housing complex with 336 flats is set for demolition. Dated December 18, the evacuation mandate follows concerns over safety and habitability. The Residents' Welfare Association (RWA) seeks rent until new flats are ready. The decision to dismantle arose from complaints about construction quality, leading to testing by the National Council of Cement and Building Material (NCCBM) and IIT-Delhi. Key Points
Economic TimesAPL Apollo Tubes is top pick for brokerage Motilal Oswal, here's why
Motilal Oswal maintains Buy rating on APL Apollo Tubes with a target price of ₹1,490 per share. The brokerage estimates revenue/EBITDA/PAT/CAGR at 15%/35%/40% over FY23-25. Key Points
mintPharma offsetting some of the impact from IT: Vinod Karki
The soft outlook on IT is being compensated by pharma exports, says Vinod Karki, ICICI Securities' equity strategist. He adds that while the Indian IT services sector doesn't have any structural issues, resetting itself is painful, with short-term uncertainty. However, the investment cycle aided by real estate and manufacturing cycles give confidence that future demand will be sustained, meaning the earnings downgrade cycle will not be there. Key Points
Economic TimesRam temple in Ayodhya can withstand once-in-2,500-year quake, say scientists
The Ayodhya Ram temple, a popular attraction for devotees, has been designed to withstand the largest earthquake in 2,500 years. The CSIR-Central Building Research Institute conducted a series of scientific studies on the site, including geophysical characterisation, geotechnical analysis, foundation design vetting, and 3D structural analysis. The study aimed to ensure the temple's structural safety for the Maximum Considered Earthquake, equivalent to a 2,500-year return period. Key Points
Economic TimesSC takes note of HPC report, permits Vedanta to carry out upkeep of its closed Tuticorin plant
The top court took note of the July 2022 report of the High Powered Committee, set up by the Tamil Nadu government, for carrying out a 'Civil and structural Safety Integrity Assessment Study' of the plant. At least 13 people were killed and several injured on May 22, 2018 when police had opened fire on a huge crowd of people protesting against environment pollution being allegedly caused by the factory. Key Points
Economic Times
We are at the cusp of a very strong upcycle in earnings; 5 big themes to invest in: Paras Bothra
Paras Bothra says: “The most important thing at present is picking up companies at the right value and with a sectoral tailwind. They are structural in nature and that will help us a lot in mitigating any kind of risk which comes up in future with regards to volatility in the market. So, that is the primary thought process. ” Key Points
Economic TimesHave we missed the bulk of the comeback rally in pharma stocks? Nithya Balasubramanian answers
“Sun, Cipla, Lupin being market leaders, should be able to do well. Most of these companies have actually added on the Street last year. While all those costs are in the P&L, we are expecting that this year, we will see their productivity improve.” Key Points
Economic TimesIndia remains a globally attractive destination for investment due to structural reforms, says FM Sitharam
India's structural reform approach has allowed it to remain a globally attractive destination for investment and well-positioned in the global economy for steady acceleration in growth, according to Union Finance Minister Nirmala Sitharaman. She added that the approach made it possible for the country to remain resilient amidst tightening financial conditions and pandemic-induced economic setbacks, selecting a cautious route, which allowed them to implement structural reforms using a calibrated approach. Sitharaman noted that India is better placed now with muted spillover effects from stressed financial conditions in the West, and the INR remains stable relative to its counterparts. Key Points
Economic TimesNifty 50 may reach 25,200 level by March 2025; premium valuation justified by cyclical, structural tailwinds, says UBS
Nifty 50 index has risen 3.5% year-to-date (YTD) and hit a new all-time high on March 7 on the back of strong macro, healthy corporate earnings, and steady domestic institutional investor (DII) buying. Key Points
mintChina hints of more targeted stimulus to boost economy
China's central bank plans to guide money into key sectors to boost the economy, following an unexpected reserve requirement ratio cut. The bank is expected to steer credit into select areas, reduce cash reserves for banks, and implement modest policy-rate cuts. Key Points
mint
Weak loans of banks to fall to 3-3.5% of gross advances by March 2025: S&P
S&P Global Ratings predicts that India's banking sector will see a decrease in weak loans to 3-3.5% of gross advances by March 2025. This decline is based on structural progress and good economic prospects supporting the financial institutions' resilience. The report estimates India's GDP will increase 6-7.1% annually in fiscal years 2024-2026, making it the fastest-growing economy in Asia-Pacific and globally. Key Points
Economic Times