News Overview

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

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%.

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%).

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%.

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

SRM Contractors shares are likely to be listed on BSE and NSE on April 3.

The IPO comprises a combination of a fresh issue of equity shares worth ₹850 Crore and an offer-for-sale (OFS) of ₹250 Crore worth of shares by promoter SVG Business Trust.

The facility would be built close to the current 2,000-MW thermal power station (TPS) in Singrauli, Uttar Pradesh.

Crizac specializes in offering international student recruitment solutions to prestigious institutions of higher education across various countries, including the United Kingdom, Canada, Republic of Ireland, Australia, and New Zealand.

In December, Warburg Pincus sold a 1.3% interest in the private lender to Cloverdell Investment for ₹790 Crore in an open market deal.