Infrastructure funds, which bet on stocks closely linked with infrastructure development in the country, have emerged as one of the best-performing categories over the past year. They have generated an average return of 90.63 per cent - the third-best, after technology funds and small-cap funds. Of the 21 schemes in the category, seven have given a return of more than 100 per cent in a year.
The six Pinaka Regiments comprise of 114 Launchers with automated gun aiming and positioning system and 45 command posts to be procured from M/s TPCL and M/s L&T, and 330 vehicles to be procured from M/s BEML.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Engineering and construction major Larsen & Toubro (L&T) on Friday said its defence arm has received orders for the Indian ministry of defence for the supply of four regiments of Pinaka weapon systems.
Software giant Wipro's Azim Premji donated Rs 9,713 crore or Rs 27 crore a day to retain his top rank among Indian philanthropists in FY21. Premji, the founder chairman of the company, increased his donation by nearly a fourth during the pandemic year, as per the Edelgive Hurun India Philanthropy List 2021, which had HCL's Shiv Nadar at second place with contributions of Rs 1,263 crore towards upliftment causes. Mukesh Ambani of Reliance Industries, India's richest man, came third on the list with a Rs 577 crore contribution and was succeeded by Kumar Mangalam Birla with Rs 377 crore.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey. The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.
Then, in the 10m air pistol mixed team competitions, India's top pair comprising Manu Bhaker and Chaudhary too came overall second among 43 pairs, shooting a combined score of 580 out of a possible 600.
L&T has acquired Cafe Coffee Day-owner V G Siddhartha's 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent shares from the open market.
RCB play Mumbai Indians in the IPL's opener on April 9.
With two defeats from their opening two games, the Danes are now only two wins from improbable glory.
The army has long been deficient in artillery, the modern battlefield's most lethal killer, says Ajai Shukla.
'Revival is happening slowly.' 'But that is, if the pandemic is controlled.'
The FIFA 2022 World Cup will kick-off in Qatar on Sunday, November 20. Here is a list of the 26-man squads playing in the quadrennial global football extravaganza.
The combined net sales of 42 listed construction and capital goods companies that have declared their third-quarter results so far were down 2.3 per cent year-on-year in Q3FY21 while core operating profit was up just 4.9 per cent YoY during the quarter.
Despite unprecedented levels of uncertainty in Samvat 2077, investors have little to complain about on the returns front. The BSE Sensex delivered returns of 38 per cent in this period, while the Nifty registered a return of over 40 per cent. As is the case in bull markets, companies in the small- and mid-capitalisation basket outperformed the benchmarks, with returns almost twice those of frontliners.
On the Sensex chart, index heavyweight HDFC rallied over 8 per cent. Other prominent gainers were IndusInd Bank, Mahindra and Mahindra, Asian Paints, Bajaj Finance, HDFC Bank and Ultratech Cement.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Larsen & Toubro (L&T) on Wednesday said it has secured a large contract to construct the country's longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya. The contract was bagged by the company's subsidiary L&T Construction. As per the company, a large contract is worth Rs 2,500-5,000 crore.
The Sensex rally was driven by Tata Motors, Vedanta, Bharti Airtel, Maruti, Reliance Industries, Tata Steel, Larsen and Toubro and HCL Tech.
The attempted hostile takeover bid of Mindtree by Larsen & Toubro is a "grave threat" and "value destructive" to the organisation collectively built over 20 years, the promoters said pledging to "unconditionally oppose" the hostile takeover attempt.
The open offer is slated to commence on June 17 and close on June 28
'Once finished, the project will reduce the travel time between Mumbai and Ahmedabad to just over two hours.'
Michael Clarke has been honoured in the Queen's Birthday list for Australia with the former cricket captain recognised for both his sporting career and community work. The 39-year-old, who retired from cricket in 2015, was appointed an Officer in the general division of the Order of Australia, the citation on the Governor General's website said.
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In a deal that had marked India's first-ever hostile takeover bid in the IT space, L&T had bought 20.32 per cent shares in Mindtree from V G Siddhartha and his coffee enterprise for over Rs 3,000 crore in March. Nalanda India Fund and Nalanda India Equity Fund have also sold majority of their holdings in Mindtree in L&T's open offer.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Gavin Larsen says if he could rein in the batsmen of 1990s era even with his military medium pace it was because of his skipper Martin Crowe's tremendous leadership style and his faith in the bowlers.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
Mindtree on Thursday said it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the IoT and Industry 4.0 space. The acquisition would enable Mindtree to capture opportunities in the IoT and Industry 4.0 market by leveraging NxT Digital Business capabilities to cross-sell and create holistic solutions for new prospects as well as for existing clients, a regulatory filing said. Capability in this space will bolster Mindtree's vision to leverage existing digital strengths and aim to become a 'Go-to business transformation partner' for clients, it added.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
L&T was the top gainer in the Sensex pack followed by M&M, SBI, Titan, Infosys, Bharti Airtel and Ultratech Cement.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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