Olectra Greentech Q1 Results: PAT rises 7% YoY to Rs 26 crore, revenue surges nearly 11%
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Economic Times
an hour ago
- Economic Times
Central Park taps advisors for planned 2027 real estate IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Property developer Central Park is in the process of hiring a professional services firm and a merchant banker as part of its plans to list the real estate business by early 2027, said Amarjit Bakshi , chairman and managing director.'We are taking the IPO route not to raise money but to hand it over to the next generation,' said Bakshi. 'We should be ready to bring in partnerships, and compliance is important. Every shareholder should be treated as a partner. A listed company has to honour its commitments and meet the expectations of customers.'He added that Central Park is also planning a separate initial public offering (IPO) for its hospitality vertical in three to four years, comprising clubs, restaurants, and to Bakshi, Central Park has a Rs 11,000-crore product launch pipeline spanning five million sq ft over the next 12 company is part of the Bakshi Group , which also has interests in the infrastructure, hospitality, and automotive Park's upcoming developments include a 1.6 million sq ft residential project on Dwarka Expressway in Gurugram, with a revenue potential of Rs 3,200 crore, and a 1.4 million sq ft development on Sohna Road in Sector 48, Gurugram, with a revenue potential of Rs 4,500 crore.'Between these two projects, we should reach close to the guidance. In addition, at our existing project, Flower Valley in Sohna, we have group housing, serviced apartments, floors, and commercial units planned,' Bakshi company has also acquired 120 acres in Naugaon, Rajasthan, on the Delhi–Mumbai Expressway for a wellness-focused farmhouse project, and another 1,000 acres in Goa.'Naugaon is very close to Delhi and Gurugram and will have open spaces with a focus on greenery. In Goa, we will develop 500 acres, while the remaining 500 acres, which is forest land, will be left intact,' Bakshi company's two hotels – Le Méridien in Gurugram and Aloft in Aerocity, Delhi -- will also be part of the Park reported pre-sales of Rs 1,600 crore in FY25, up from Rs 250 crore in FY24. Its key projects include Central Park on Golf Course Road, Central Park Resorts on Sohna Road (including Bellavista), Central Park The Room, and the most recent, Central Park Flower Valley in Sohna.
India.com
2 hours ago
- India.com
Indian Stocks May Face Yet Another Volatile Week As Trump Tariff Concerns Loom
New Delhi: Indian equity markets are set for a choppy week ahead as investors brace for any new development on escalating trade tensions with the United States, besides the release of key domestic inflation data for July. The cautious sentiment follows a sixth straight week of declines for benchmark indices, with both the Sensex and Nifty ending lower on persistent selling pressure and profit booking, analysts said. During the week ended Friday, the BSE Sensex dropped 1.01 per cent to close at 79,857.79, while the NSE Nifty shed 1.20 per cent to settle at 24,363.30. Market mood turned negative after the US President Donald Trump announced a total 50 per cent tariff on Indian goods, a move that unsettled investors and particularly export-focused sectors. "The dominant driver of the week's decline was the sudden escalation in US tariffs," said Ajit Mishra, Senior Vice President - Research at Religare Broking Ltd. "Near-term market direction will be shaped by clarity on US tariff implementation, India's diplomatic response, and incoming inflation readings." Foreign institutional investors (FIIs) were net sellers during the week, with the most pronounced selling seen in pharma and IT stocks that have large US market exposure, Mishra said. "The Indian equity market exhibited downward movement, closing at a three-month low amid growing concerns over the impact of U.S. tariffs on Indian exports," noted Vinod Nair, Head of Research at Geojit Financial Services. The Reserve Bank of India's decision to keep the policy repo rate unchanged at 5.50% with a neutral stance did little to improve sentiment. In the coming week, investors will focus on India's Consumer Price Index (CPI) and Wholesale Price Index (WPI) inflation data. Global developments, especially in US-India trade talks, will also be closely monitored. The earnings season is drawing to a close, but key results from Ashok Leyland, ONGC, IOC, Hindalco Industries, and BPCL are expected to trigger stock-specific moves. Siddhartha Khemka, Head of Research - Wealth Management at Motilal Oswal Financial Services, said, "Overall, we expect equities to remain in consolidation mode until there is clarity on the tariff front. In this volatile environment, investors may focus on domestic-oriented themes, while traders are advised to keep positions light."
Mint
3 hours ago
- Mint
Stocks to buy for long term: Pankaj Pandey of ICICI Securities recommends L&T, Lemon Tree Hotels, Dalmia Bharat and more
Stocks to buy for long term: The Indian stock market is reeling under pressure due to tariff blow by US President Donald Trump, uninspiring earnings and foreign capital outflow. The Nifty 50 is now over 7 per cent down from its all-time high of 26,277.35, which it hit on September 27 last year. At this juncture, it seems difficult to foresee a fresh high for the Nifty 50 in the near future. Trump's tariffs are estimated to reduce India's GDP growth by as much as 1 per cent, hopes of an earnings recovery in the second half of the financial year (H2FY26) are weakening, and foreign investors are relentlessly pulling money out of Indian markets. Pankaj Pandey, the head of research at ICICI Securities, still believes that the Indian stock market can emerge from the Trump tariffs shock and the Nifty may hit the 27,000 level by the end of the year. "On an overall basis, we see limited impact on the equity market amid the India-US tariff across most sectors. We, in fact, see current tariff threats as negotiation tactics," said Pandey. Pandey even sees some winners out of this trade war. For example, with tariffs being imposed by the US across countries, India's relative export competitiveness has improved at the global stage in the electronic manufacturing service (EMS) segment, he explained. The head of research at ICICI Securities underscored that the trade war is still an evolving space, but it will force global brands to look for alternatives to countries like China over the medium term for manufacturing electronics items like mobile phones and laptops. However, Pandey said the contours of the ultimate tariff, which will be clear later once the negotiations end, will hold the key. "We believe we have learnt to live with this uncertainty and domestic factors such as corporate earnings, as well as macroeconomic indicators like GDP growth, capex spending, consumption, etc, will be a bigger catalyst," said Pandey. "Overall, we expect markets to move towards a new high by FY26 end. Our 12-month rolling Nifty target is pegged at 27,000 levels, wherein we have valued the index at nearly 22 times PE on FY27E," Pandey said. Larsen & Toubro (L&T) is India's largest engineering and construction (E&C) company. It has a current order backlog of ₹ 6,12,761 crore. L&T began FY26 with a strong quarter at 16 per cent revenue growth and 33 per cent growth in order inflows. L&T further has ₹ 14.8 lakh crore order bid pipeline for the remaining nine months of the financial year (9MFY26E). "With solid execution momentum expected to continue, we expect revenues and PAT to grow at a CAGR of 14.5 per cent and 19.4 per cent over FY25-FY27E. Further, L&T aspires to reach 18 per cent ROE by FY26E versus nearly 17 per cent in Q1FY26 and is best placed to play the India capex-led growth story," said Pandey. City Union Bank is a strong regional franchise with a deep-rooted presence in South India. Nearly 56 per cent of its advances are in secured MSME and agri segments. City Union Bank is well-positioned to deliver advanced growth surpassing the industry, aided by its focus on high-yield, granular segments. Margins are expected to remain resilient in the range of 3.45–3.5 per cent despite repo-linked repricing, supported by a favourable loan mix and improved liabilities mobilisation. Credit costs are projected to stay benign at nearly 50–60 bps, with an aim to raise specific PCR to nearly 63–64 per cent. While MSME stress remains a key monitorable, better-than-peer margins, stable asset quality and RoA at 1.4-1.5 per cent, justify relatively superior valuation. Lemon Tree Hotels is emerging as India's largest hotel chain in the mid-priced sector, with a room inventory of 10,269 in 111 hotels. 'Scale-up in performance of Aurika Mumbai and strong growth of 40 per cent+ in management contract revenues, coupled with steady growth in existing hotels, will drive Revenue and PAT CAGR of 16 per cent and 33 per cent over FY25-27E,' said Pandey. Value unlock in its subsidiary Fluer will be an additional trigger for stock, along with favourable industry tailwinds. Dalmia Bharat, the fourth largest cement manufacturer in India with a cement capacity of 49.5 mtpa, is poised to grow significantly, led by capacity additions along with a strong focus on capital allocation and cost-saving measures. With ongoing expansions at Karnataka, Maharashtra & Andhra Pradesh (3 mtpa each), total capacity would reach 61.5 mtpa by FY28E. Company targets to reach 110-130 mtpa by FY31E. "Profitability to improve driven by operational efficiencies (led by increasing green power share, optimisation of fuel mix, logistics, etc.) and positive operating leverage, translating to nearly 30 per cent EBITDA CAGR over FY25-27E," said Pandey. Steel Strips Wheels is a prominent player in the domestic oligopolistic wheels industry. It currently has five plants in India with a total production capacity of nearly 2.5 crore wheels per annum (including nearly 0.42 crore of alloy wheels), and it realises 32 per cent of its revenue from alloy wheels. "Its powertrain agnostic product profile (no EV risk) and healthy growth in volumes supported by capacity expansion will help it to achieve sales and PAT CAGR of 10 per cent and 17 per cent, respectively, over FY25P-27E," Pandey observed. "It is one of the inexpensive stocks in the auto ancillary space and trades at less than 13 times PE on FY27E, offering healthy upside. Double-digit CFO yield provided a good margin of safety," Pandey said. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
