India's $205 Billion Infra Revival
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Energy, social infrastructure and road monetization are key trends to watch
Welcome to India Edition, I'm Menaka Doshi. Join me each week for a ringside view of the billionaires, businesses and policy decisions behind India's rise as an emerging economic powerhouse.
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Sorry Sadiq, you're talking rubbish - the idea London is being 'levelled down' is laughable
Stories of London feeling 'short-changed' had been circulating in the run up to the Spending Review this week. Then, moments after Rachel Reeves revealed her spending plans, Sadiq Khan actually said it. He had the gall to suggest London is being 'levelled down'. The mayor was moaning that there was no commitment from the Chancellor to invest in new infrastructure that the capital needs. He talked of plans to extend the Docklands Light Railway. You know? The self-driving trains that have served the capital since 1987. READ MORE: 'I see mums who can't afford to feed their children - how can they afford this?' READ MORE: 'Barbie' Love Island star unmasked as 'business brain' of drug cartel after two Wiganers jailed It would take another five years before the first Metrolink trams were launched in Greater Manchester, serving just a few stops. Decades later, despite the Metrolink having expanded considerably, London's transport network has become even more enormous. Just three years ago, the £19bn Crossrail project was completed with the new Elizabeth line joining the other 11 on the Tube map. Earlier this week, a northern think tank revealed that, if the government had spent the same amount on transport in the North as it did in London over the last 14 years, we would have had £140bn more with the capital getting more than double the funding per person. News last week that the North and Midlands will get more than £15bn for transport over the next five years starts to correct that. The Chancellor has also put another £3.5bn towards the Transpennine Route Upgrade for existing services between Manchester, Leeds and York, and promised to 'take forward' Northern Powerhouse Rail with more details on these plans expected next week. But years of under-investment cannot be reversed in one Spending Review. The gap between London and the rest of the country remains massive - not only when it comes to transport infrastructure, but with economic growth, education and opportunities too. Sir Sadiq is right to say that 'the way to level up other regions is never to level down London'. But that is not what's happening. Of course, the mayor will always make the case for the city he represents - as he should. But his 'us-versus-them' rhetoric is unhelpful. We all want the country to prosper, so investment in regions that have long been neglected should be welcomed in the capital too. It's not Manchester versus London. Comparisons only serve to illustrate how massively underfunded Manchester has been for so long. The idea that London is being 'levelled down' is laughable. The fact that the mayor feels the need to moan about it is quite funny. But if that's how he really feels, well, maybe that's not such a bad thing. Maybe it's time for London to feel that way for a change.
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Those who invested in FRoSTA (FRA:NLM) five years ago are up 67%
When we invest, we're generally looking for stocks that outperform the market average. Buying under-rated businesses is one path to excess returns. For example, the FRoSTA Aktiengesellschaft (FRA:NLM) share price is up 44% in the last 5 years, clearly besting the market return of around 18% (ignoring dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 37% in the last year, including dividends. So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. Over half a decade, FRoSTA managed to grow its earnings per share at 28% a year. This EPS growth is higher than the 8% average annual increase in the share price. So it seems the market isn't so enthusiastic about the stock these days. You can see how EPS has changed over time in the image below (click on the chart to see the exact values). We know that FRoSTA has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained. When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of FRoSTA, it has a TSR of 67% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return. It's nice to see that FRoSTA shareholders have received a total shareholder return of 37% over the last year. That's including the dividend. That's better than the annualised return of 11% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. Is FRoSTA cheap compared to other companies? These 3 valuation measures might help you decide. For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
2 hours ago
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Those who invested in FRoSTA (FRA:NLM) five years ago are up 67%
When we invest, we're generally looking for stocks that outperform the market average. Buying under-rated businesses is one path to excess returns. For example, the FRoSTA Aktiengesellschaft (FRA:NLM) share price is up 44% in the last 5 years, clearly besting the market return of around 18% (ignoring dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 37% in the last year, including dividends. So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. Over half a decade, FRoSTA managed to grow its earnings per share at 28% a year. This EPS growth is higher than the 8% average annual increase in the share price. So it seems the market isn't so enthusiastic about the stock these days. You can see how EPS has changed over time in the image below (click on the chart to see the exact values). We know that FRoSTA has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained. When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of FRoSTA, it has a TSR of 67% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return. It's nice to see that FRoSTA shareholders have received a total shareholder return of 37% over the last year. That's including the dividend. That's better than the annualised return of 11% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. Is FRoSTA cheap compared to other companies? These 3 valuation measures might help you decide. For those who like to find winning investments this free list of undervalued companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
