Business News

Bengaluru auto prices to get costlier?

Business News - March 14, 2025 - 11:24am
Categories: Business News

Bernstein sees no upside in Indian market despite slide

Business News - March 14, 2025 - 9:44am
Bernstein said it is unable to spot a broader buying opportunity in the Indian market despite the recent slide in stock prices."One would think that given the significant corrections, over half the basket should be a screaming buy. The reality isn't quite so," said the brokerage in a note.The Sensex and Nifty lost nearly 15% each since the onset of the market downturn on September 26. On Thursday, the Nifty fell 73.30 points or 0.3% to close at 22,397.20. The Sensex declined 200.85 points or 0.3% to 73,828.91. Financial markets will remain closed in India on Friday on account of Holi. Bernstein said it would be a selective buyer in large cap stocks, especially in power and information technology.
Categories: Business News

19,826 km roads constructed under Bharatmala

Business News - March 14, 2025 - 9:42am
Bharatmala projects covering a total length of 26,425 km have been awarded and out of this 19,826 km have already been constructed, Union Minister of Road Transport and Highways Nitin Gadkari informed Lok Sabha in a written reply earlier this week.The Bharatmala Pariyojana was approved by the central government in 2017.Bharatmala Pariyojana is envisaged to improve the logistics efficiency and connectivity in the country including connectivity to tribal, aspirational and Left Wing Extremist-affected districts while reducing accident on the these Highways ensuring safer transportation networks. The development of high-speed corridors will also reduce the travel time substantially between key economic centers. Various Industrial Hubs, NMP nodes, MMLPs, Ports and Airports to be provided high-speed connectivity through these corridors.As of February 2025, 6,669 km length of high speed greenfield corridors has been awarded with construction completed for 4,610 km.In so far as National Highways (NHs) are concerned, works are carried out as per standards, guidelines, manual, code of practice of Indian Roads Congress as well as Specification for Road and Bridge Works, the minister said in his written reply."Necessary road safety measures are taken during design, construction, operation and maintenance stages. Further, Guidelines have been issued for regular safety audit of all NHs at design, construction, pre-opening stage of NH projects as well as on existing NHs for ensuring road safety," Minister Gadkari said.Many Smart Technologies such as Automated and intelligent Machine-aided construction (AI-MC), LIDAR and drone based analytics etc is being adopted in Highway Construction.In another reply regarding the ambitious PM Gati Shakti initiative, the minister said 115 NHs / road projects in about 13,500 km amounting to Rs. 6.38 lakh crore have been examined so far leveraging the PM Gati Shakti NMP Portal and consulted within the Network Planning Group (NPG) of PM Gati Shakti NMP.This, he said, has resulted in better planning and execution of infrastructure projects for more streamlined project delivery by reducing the time and cost associated with project design, alignment, clearances, and approvals.The Ministry of Road Transport and Highways is primarily responsible for the development and maintenance of National Highways (NHs). All the NHs development projects are planned in line with PM Gati Shakti National Master Plan (NMP) principles.
Categories: Business News

Magma sells general insurance business to Patanjali, DS Group

Business News - March 14, 2025 - 9:39am
Baba Ramdev-owned Patanjali Ayurved and Dharampal Satyapal Group (DS Group) have bought a majority stake in Magma General Insurance, backed by Adar Poonawalla-owned Sanoti Properties, valuing the company at ₹4,500 crore.The deal marks Patanjali's entry into the general insurance market and its diversification into financial services beyond ayurvedic and consumer goods. Following the transaction, Patanjali will become the promoter for Magma General Insurance, with a 98% stake, giving exit to Magma.The insurer was valued at 1.37x its gross written premium (GWP) for FY24, with a GWP of ₹3,295 crore. Its half-year solvency ratio was 1.77 against the regulatory requirement of 1.5. Magma had reported a loss of ₹141 crore in FY24.
Categories: Business News

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