Actis plans roads InvIT, could raise up to ₹2,000 crore
The six roads were acquired by Actis' Long Life Infrastructure Fund, which seeks to invest in stabilised operating assets within multiple infrastructure sectors and deliver a strong cash yield for investors. Actis has filed for the registration of the trust with the markets regulator Securities and Exchange Board of India (Sebi), said the sources cited above.
Welspun trades higher on buying out 50.10% stake in Michigan Engineers
Welspun Enterprises acquired the stake from the existing shareholders for Rs 137.07 crore. MEPL will now become a subsidiary of Welspun Enterprises and enables the company's expansion into the promising water and tunnelling solutions segment in India.
Welspun Enterprises gains as board approves stake purchase in Michigan Engineers
The acquisition is in line with the strategy of Welspun Enterprises to grow the water infrastructure business segment. This will enable its entry into the tunnelling business, which complements its existing water and road business.
Will history repeat itself to help Nifty scale 21,000 mark in election year?
Indian stock market benchmark Nifty is expected to reach the 21,000 mark within the next 6-9 months, according to a report by ICICI Direct. The firm said that the last four general elections resulted in the 50-stock index gaining a minimum of 11% in the electoral year, citing history as evidence.