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India may lag peers in the next Samvat but investors should have a three-five-year view and not for 12 months, according to Morgan Stanley’s Ridham Desai. ....
India’s equity benchmarks are scaling new records, buoyed by ample liquidity, institutional flows and expectations of improved earnings as the economy recovers from the pandemic’s upheaval.
In the last one year, the S&P BSE Sensex and the Nifty 50 have gained about 50% each. The surge has been broad-based and valuations have spiked.
The Sensex’s valuation premium over MSCI Emerging Markets Index has spiked to 2 times in October from 1.4 times a year earlier. ....
Tata Motors Ltd. has raised $1 billion (~Rs 7,500 crore) via 11-15% stake sale (exact quantum dependent upon meeting of revenue thresholds) in its India electric vehicle business (EVCo) to TPG Rise (TPG Rise Climate Fund; ADQ is co investor).
The implied valuation of EVCo is pegged at $6.7 – 9.1 billion.
Tata Motors' EVCo will invest more than $2 billion (i.e. more than Rs 16,000 crore) over the next five years in products, platforms, drive trains, dedicated electric vehicle manufacturing, charging infrastructure and advanced technologies. ....
We attended analyst meet of Bharat Electronics Ltd. to understand opportunity and business outlook of the company. optimistic on upcoming opportunities in defense as well as non-defense space as govt focus on indigenisation, spending initiative’s such as PLI schemes. Bharat Electronics is diversifying into different business verticals such as medical electronics, energy storage, unmanned system, space electronics systems, software service, etc. global footprint in new regions such as Kenya, Chile, Suriname, Malaysia, Nepal and Bangladesh ....