Market News
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Railway Board pulls up zones over poor pace of environmental initiatives, orders fast-track efforts
Indian Railways is pushing for faster execution of environmental projects. The Railway Board has urged all zones to complete these initiatives effectively and on time. This is crucial for achieving the goal of becoming a Net Zero Carbon Emitter by 2030. A significant fund was allocated last year, but progress has been slow.
Kaynes Technology misses Street estimates, FY26 guidance
Kaynes's management blames two major projects for the electronics manufacturer's underperformance.
Small-cap stock Bajel Projects to be in focus on Thursday as company secures multiple EPC orders - Mint
Small-cap stock Bajel Projects to be in focus on Thursday as company secures multiple EPC ordersMint
Stocks to Watch for May 13: Dixon, Neuland, Torrent Power, Tata Power, Bharti Airtel and more
Tata Power, Torrent Power and Dr. Reddy's report weaker Q4, Berger Paints, Neuland Laboratories, MTAR Technologies and Kalpataru Projects post strong gains, Vodafone Idea plans fundraise. Here are few stocks to keep an eye on ahead of Wednesday's trading session.
Millenia WB Yield Fund commits Rs 41 crore for villa project in Hyderabad
WhiteBoard Advisory and Management, along with Casagrand, have secured SEBI approval for a Rs 500 crore fund. This capital will fuel growth for residential projects, with initial focus on Chennai, Bangalore, and Hyderabad. The fund aims to deliver yield-based returns to investors. Casagrand, a leading developer, is also pursuing an IPO.
India’s grid bottleneck forces ReNew Energy to waste solar power, threatening profits
India's power grid struggles to handle excess solar energy. ReNew Energy Global Plc faces power curtailment, affecting earnings. The company is investing in battery storage to balance supply and demand. Rising costs from global events add to challenges. Future projects will focus more on solar power.
Bombay HC restrains Godrej from handing over Chembur space to Titan in Decathlon lease row
Bombay High Court has temporarily halted Godrej Projects from handing over a Chembur commercial property to Titan Company. The court appointed a receiver to take possession, citing Godrej's unilateral repudiation of a lease agreement with Decathlon Sports India. Decathlon had planned a significant store in the area, impacting other outlets.
Sowparnika Projects eyes Rs 500 crore fundraise to double revenue
Sowparnika Projects is in advanced talks to raise Rs 500 crore for expansion, aiming to develop 5.5 million sq ft across South India over the next two years. The real estate firm targets doubling its turnover to Rs 1,500 crore by FY2026-27, with a focus on the mid and upper-mid residential market.
Railways clears 100 projects worth Rs 1.53 lakh crore in FY26; expansion more than doubles yoy
Indian Railways is set for a major expansion in FY 2025-26. The Ministry of Railways has sanctioned 100 projects with a Rs 1.53 lakh crore investment. This initiative will add over 6,000 kilometers of new railway lines and upgrade existing ones. Projects will focus on decongesting routes, improving services, and connecting underserved regions.
NCLAT reaffirms project-specific insolvency proceedings against realty firms
The National Company Law Appellate Tribunal has ruled that homebuyers' insolvency cases against real estate firms must focus only on the project with the default. This decision prevents unrelated projects from being affected. The tribunal emphasized that this approach protects the interests of homebuyers and stakeholders in other developments.
Adani Green Energy's arm inks pact with UAE firm to develop renewable energy projects in India
Adani Green Energy Limited's UAE arm has partnered with Minerva Holding RSC. This joint venture will focus on developing renewable energy projects within India. Minerva Holding is a subsidiary of EPointZero Holding RSC Ltd, which is part of the UAE's International Holding Company PJSC. Adani Green Energy will hold a stake in this new venture.
Sensex at 95,000 in 9 months? Morgan Stanley says bull market ahead, predicts 24% upside
The base-case scenario for Sensex, which projects a year-end target of 95,000 with a 50% possibility, suggests that it would command a trailing P/E multiple of 23.5x, ahead of the 25-year average of 22x.