updated: Apr 07 2021, 15:13 ist
By Bibhudatta Pradhan and Dhwani Pandya
India’s failure to quickly examine Covid-19 samples for new variants risks hurting its battle against a record surge of infections, with scientists warning the delays could damage everything from vaccine efficacy to effective hospital treatments.
The South Asian nation has tested less than 1% of its positive samples, according to government data, compared to the UK which has sequenced 8% of infections, and 33% in the last week, the Covid-19 Genomics UK Consortium said. The US last month reported it was sequencing about 4% of its 400,000 weekly new cases, the Centers for Disease Control and Prevention noted.
India has become a vocal critic of the kingdom’s hawkish stance on oil prices and OPEC+ output policy in recent months, with mounting tensions prompting the country to seek alternative sources of crude.
By Dhwani Pandya
Dilip Buildcon Ltd., one of the top highway builders in India, expects revenue to double in the next 4-5 years on an infrastructure push by Prime Minister Narendra Modi’s government, Rohan Suryavanshi, the company’s head of strategy & planning, said in an interview with Bloomberg TV.
“We should be looking at 15%-20% growth year-on-year, which will lead us to double our sales in next 4-5 years,” he said. “We should be looking at an increasing order book.”
India announced the highest ever outlay of 1.18 trillion rupees ($16 billion) for the development of highways and roads in its 2021-22 budget. A custom Bloomberg gauge of Indian road builders has gained 27.6% since the budget was presented on Feb. 1 as compared to a gain of 2.99% in the benchmark BSE Sensex. Dilip Buildcon has jumped 53% during the period.
Synopsis
The company, formerly known as Lodha Developers, has been trying to sell shares in an initial public offering since 2009. Macrotech made the latest announcement in an exchange filing on Tuesday.
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A successful share sale will help the company, founded by a lawmaker from India’s ruling Bharatiya Janata Party, partially pay 80.8 billion rupees of liabilities due this year.
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By Rahul Satija and Dhwani Pandya
Macrotech Developers Ltd., India’s biggest homebuilder, plans to raise 25 billion rupees ($344 million) in an initial share sale to help reduce its massive debt burden.
The company, formerly known as Lodha Developers, has been trying to sell shares in an initial public offering since 2009. Macrotech made the latest announcement in an exchange filing on Tuesday.
India News | Bibhudatta Pradhan and Dhwani Pandya, Bloomberg | Wednesday April 7, 2021 India s failure to quickly examine Covid-19 samples for new variants risks hurting its battle against a record surge of infections, with scientists warning the delays could damage everything from vaccine efficacy to effective hospital treatments.
Business | Dhwani Pandya, Bloomberg | Friday April 2, 2021 Macrotech, which built the Trump Tower in Mumbai, will be the biggest Indian developer to try to list since DLF Ltd. went public in 2007.
India News | Dhwani Pandya, Bloomberg | Friday February 19, 2021 A 250-billion-rupee ($3.5 billion) fund set up by India s government to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out saving