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Welspun Enterprises (WEL) has bought a 50.10% stake in engineering, procurement and construction firm Michigan Engineers. The transaction, valued at Rs 137.07 crore will enable WEL to expand its urban water infrastructure business, as well as enter the high-margin, high-growth trenchless technologies field. WEL has an order book of over Rs 6000 crore for the water and wastewater segment, and the sector is likely to benefit from Indian government schemes. ....
Last week both Nifty and to some extent even mid-cap indices saw some correction. But mid-caps are still a part of the ongoing party on the street. Stocks from sectors like fertilizer, wealth management, specialty chemicals have come on the list. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market. ....
Except for the last three weeks in which nifty witnessed some cuts which can be called as consolidation, nifty and sensex have been under the control of bulls. During this period, some stocks have witnessed consistent improvement in their scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. ....
The warehousing industry is seeing significant growth in India, driven by rising consumer demand, the expansion of e-commerce, and investment in manufacturing, with cumulative supply expected to reach 516 million sq ft by 2026. Mumbai, Pune, and Delhi showed the highest demand during H1 2021, with a total of 15 million sq ft of net absorption. Logistics and industrial sectors remained resilient post-pandemic and are expected to pick up pace in H2 2021, with increasing upward rental bias in select markets. ....
In the first half of the year, net absorption or new leases stood at 15 million sq ft in the top eight cities of India. In terms of demand for warehousing, Mumbai, Pune and Delhi-NCR emerged as the top three locations in terms of demand during this period. ....