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Earlier, on March 20, Infotech HAL Limited, a 50:50 joint venture of Cyient Limited with HAL, initiated the corporate insolvency resolution process before the National Company Law Tribunal, Bangalore Bench

Among the shares traded, 2021 advanced, 1280 declined, and 84 remained unchanged.

With a total infusion of ₹11,661 Crore, the Adani family has significantly increased their investment in Ambuja since acquiring control from Holcim.

Retail macro remains favourable – strong leasing demand vs limited supply, favourable interest rate environment over FY25/26. Valuations are inexpensive at ~13.6x FY26 Ebitda; reiterate BUY with an upside of 18% and FY25 yield of 6.6%.

Despite the sluggish awarding by NHAI, HG Infra has won new orders worth Rs41.2bn till date in FY24 (all in Q4); implying healthy additions to order book vs its guidance of Rs50bn inflows. These wins boost the growth visibility, given the shorter execution timelines; analysts of IIFL Capital Services build in revenue Cagr of 16-17% over FY23-26. While ordering will take a pause during elections, healthy project pipeline in roads means that ordering beyond Q2 should be stronger from NHAI.

Analysts of IIFL Capital Services expect Ebitda margin to improve 300bp from 9.3% in FY23, driven by: i) normalisation of high input costs in FY23 ii) operating leverage from higher capacity utilisation iii) incentive from Rajasthan government (against capex on new plant) iv) savings on power cost (solar energy). Analysts of IIFL Capital Services expect margins to reach 12.2% in FY26, close to its pre-Covid average margin (FY13-FY20) of 12.0%.

Analysts of IIFL Capital Services believe some lenders ala PEL, RBL, HDFC and Axis who had conservatively provided on their entire AIF exposure (5-550 bps of loans) in Q3FY24, might be able to write-back some of these provisions.

The FDA inspected the company's manufacturing site in Baddi from March 19 to 27, resulting in observations related to good manufacturing practice (GMP) and pre-approval

The group is also considering partial fundraising through private placements alongside the bond issuance.

Aegis specialises in liquid and gas cargo storage / logistics. Its USP is to set up storage terminals at competitive rates, strategic locations, and offer quality services at competitive rates. The company has consistently earned 60-90% Ebitda margins (liquid/ gas storage business), with high OCF/Ebitda and attractive ROCE (13-24%).