Page 75 - Intelligence Group News Today

Alibaba Group Holding Limited (NYSE: BABA) prepared to part with 

Business: The company designs and constructs projects related to water treatment, water supply, water plant, distribution, operation and maintenance of wastewater for government bodies. It has an order book of close to ₹1,800 crore. This provides revenue visibility for at least three years.

Uttar Pradesh-based construction company EMS plans to raise Rs146 crore through a fresh issue of shares and another up to Rs175 crore through an offer for sale. The company plans to use Rs101.2 crore to fund working capital requirements. Investors may consider investing in the Initial Public Offering (IPO) of given the asset light business model, strong revenue visibility and reasonable valuations.

Indias market capitalisation hit a record $3.75 trillion on September 4, propelled by inflows from domestic and foreign investors as well as a stream of new listings.

The proceeds from the issue will be used to repay ₹510 crore debt. Last month, the company raised ₹123 crore in its pre-IPO placement at the same level as the upper price band. The promoter family is not selling its shares in the issue.

The share of the higher priced SUVs increased for the fifth quarter in a row in the June 2023 quarter. The company has recently launched fresh models including Fronx, Jimny and Invicto. Given the higher sticker prices of these vehicles, the ASP for the current quarter is expected to improve by 5-6% sequentially thereby improving revenue and blended margins. In the June quarter, Maruti Suzuki’s ASP rose by 14.6% year-on-year.

The six-month rolling cumulative investment of foreign investors rose to $20.6 billion (₹1.69 lakh crore) - the highest in 28 months, data from NSDL showed. There are only nine instances in the last 15 years when the six-month rolling monthly investment rose more than $20.5 billion.

The bank has consciously reduced exposure to infrastructure-related loans over the past few years. The proportion of infra financing in the total loan book fell to 2.2% in the June 2023 quarter from 19.4% at the end of March 2019. Also, the exposure to the top five sectors dropped to 21% from 41%.

Archean is a marine-based speciality chemical maker that produces natural bromine from its brine reservoir at Rann of Kutch in Gujarat. It has an installed bromine capacity of 28,500 metric tonnes (MT).

SPX FLOW's Food Compost Waste Program was awarded "Sustainability Initiative of the Year" by Business Intelligence Group.