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The initial public offering (IPO) of Bharti Hexacom will open for subscription on April 3 and close on April 5. The company has fixed a price band of Rs 542-570 per share.The anchor book of the first public issue of the new financial year FY2024-25 will be open for a day on April 2. The company aims to raise Rs 4,275 crore from the stake sale.The Bharti Hexacom IPO consists solely of an offer-for-sale (OFS) component, without any fresh issue of shares. Telecommunications Consultants India, the sole public shareholder in the company, will offload 7.5 crore equity shares or a 15% stake in the OFS.Sunil Mittal-driven telco Bharti Airtel holds a 70% stake or 35 crore shares and the remaining 30% shareholding, equivalent to 15 crore equity shares is held by non-promoter TCIL.Bharti Hexacom runs mobile services in Rajasthan and the Northeast circles of India. Airtel will continue to hold a majority stake in the subsidiary.The northeast telecommunication circles in India comprise the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.From an average revenue per user (ARPU) of Rs 135 in FY21, Bharti Hexacom has managed to improve this to Rs 195 during the six months ended September 2023.As of September 2023, the company had an aggregate of 29.1 million customers across both circles.Bharti Hexacom has a spectrum portfolio with a varied pool of mid-band spectrum, which has enabled us to offer 5G plus services to customers.For the six months ended September, the company reported a revenue of Rs 3,420 crore, compared to Rs 3,167 crore a year ago. However, profit dropped to Rs 69 crore from Rs 195 crore a year ago.SBI Capital Markets, Axis Capital, BOB Capital Markets, ICICI Securities, and IIFL Securities are the book-running lead managers to the issue.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Billionaire Gautam Adani's group is building the world's largest renewable energy park in Gujarat, as it eyes a massive 45 GW capacity to generate electricity largely from solar energy. Speaking at the opening of 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani said his group's renewable energy arm, Adani Green Energy, is leading an energy transition that honours the commitment of taking care of the planet not just for this generation and the next but also for generations to come. "As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps," he said. "In Khavda, which is in the state of Gujarat, we are building the world's largest renewable energy park. It will have a generation capacity of 30 GW of energy - and it is incredibly big. Its area of 538 square kilometers is more than five times bigger than Paris." This is part of the aim to reach 45 GW of renewable energy by 2030, said Adani, the chairman of the apples-to-airport conglomerate. "This will be like providing clean energy to almost every house in England," he said. It currently has an operating renewable portfolio of over 9.5 GW and locked-in projects of up to 21.8 Gigawatt (GW). The Gallery explores how the world can generate and use energy more sustainably to urgently decarbonise and to limit dangerous climate change. "Through striking displays of contemporary and historic objects from the UK and abroad, interactive digital exhibits, and specially commissioned models, the gallery shows how the past, present and future are shaped by human imagination and innovation and explores how we all have a role to play in deciding our energy future," a company statement said. The Gallery, which is open to the public for free, examines this century's defining challenge through the lens of imagination across three sections. In Future Planet, visitors can explore how scientists use complex computer-based models to understand our planet, and what these tell us about the range of climate futures that might lie ahead. In Future Energy, technologies and the people behind them that are reimagining how energy is supplied and used are highlighted alongside historic artefacts which provide a longer view of the transition away from fossil fuels. Adani said museums are very important because they teach and inspire. "This new gallery is about more than just clean air - or about moving away from oil and gas. It is about the energy transition we need - this world needs - and it is about the revolution that is taking place in the world of energy." The gallery, he said, was special because it makes us think, dream and wish for change. At the centre of the gallery is Only Breath, a moving sculpture that signifies the power of nature to inspire technological change. Radiating outward from the centre are plinths which display vital low-carbon renewable energy technologies for the transition, from nuclear, hydrogen and solar to wind and tidal power, alongside remarkable historic innovations that remind us how major change is possible and that many of the technologies needed to make the low-carbon energy transition already exist. Objects in this section include a 7m long tidal turbine blade made by Scottish renewable energy company Orbital Marine Power and the first electric taxi, the Bersey cab, hailed by Londoners in 1897. The challenges of electrification, energy storage, and supply and demand are also explored, with visitors invited to play interactive games and use models that show how energy can be generated and distributed. Possible routes to low-carbon transport are featured, as well the decarbonisation of our buildings and construction industries, and visitors can learn about climate modelling and see instruments used to measure climate. Energy Revolution was designed by award-winning architects, Unknown Works. A key element of sustainable design was the reuse of redundant shelves from the Science Museum's former object store. The gallery's carbon footprint has been monitored, and recyclable aluminium was used where possible. The gallery's Title Funder is Adani Green Energy. Sagar Adani, Executive Director, AGEL, said, "The Science Museum has put together the world's best curated gallery on energy transition. As one of the world's largest renewable energy companies, we are committed to making progress towards net zero - and there is no greater resource in the fight against climate change than education. "Through the sponsorship of the gallery, we aim to inspire young minds, scientists and innovators to imagine a future powered by clean energy and build a carbon-free world. It is an initiative to stimulate their interest, curiosity and awareness, and encourage their active participation in creating clean technologies. The gallery brings together the global community to enable the shift towards energy efficiency, clean energy adoption and carbon emissions reduction." Sir Ian Blatchford, Director and Chief Executive of the Science Museum Group, said, "In a week when we're celebrating a record 2.25 million visits by UK residents to the museum, including a million children, this stunning gallery offers even more to ignite curiosity among those who will visit in the year ahead - provoking important conversations about the urgent need for the world to generate and use energy more sustainably."

Brokerage firm Kotak Institutional Equities upgraded Dr. Lal PathLabs, Investec maintained a buy rating on Godrej Consumer, CLSA maintained an outperform rating on HDFC Bank and Jefferies upgraded InterGlobe Aviation to hold.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Kotak Institutional Equities on Dr Lal PathLabs: Add| Target Rs 2360Kotak Institutional Equities upgraded Dr Lal PathLabs to Add from sell earlier and raised the target price to Rs 2360 from Rs 1975 earlier.The domestic brokerage firm maintained a reduced rating on Metropolis Healthcare but raised the target price to Rs 1600 from Rs 1500 earlier.Metropolis and Agilus take price hikes across cities in Q4FY24. A calibrated tussle continues among online players.There has been increasing pricing sanity in 900 diagnostics over the past one year. There is an increasingly benign competitive landscape that alleviates any major concerns on structural issues.Investec on Godrej Consumer: Buy| Target Rs 1418Investec maintained a buy rating on Godrej Consumer but raised the target price to Rs 1418 from Rs 1281 earlier.It sees a faster-than-peers' revenue growth trajectory in India. The domestic brokerage firm sees a significant EBITDA margin improvement driver at a consolidated level.The focus is on business simplification which will drive better operating cash flows. It expects a 24% earnings CAGR over FY24-26, which is 1000 bps ahead of its large cap FMCG peers.CLSA on HDFC Bank: Outperform| Target Rs 1650CLSA maintained an outperform rating on HDFC Bank with a target price of Rs 1650. External events demand balancing deposits acquisition and profitability.Bank's expansion into semi-urban and rural areas is unlikely to make a difference in the medium term. The global investment bank believes that the private sector bank will prioritise profitability over loan growth.It sees a gradual improvement in the NIM and consequently profitability.Jefferies on Indigo: Hold| Target Rs 3435Jefferies upgraded InterGlobe Aviation to hold from underperform earlier but raised the target price to Rs 3435 from Rs 2500 earlier.There is a strong capacity growth guidance; grounding impact appears contained. Precarious capacity situation impacting growth/elevated yields in the near term.Regulating pilot fatigue may still constrain capacity growth and support pricing.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

The Indian market is likely to consolidate on Tuesday tracking muted global cues.The Nifty future closed positive with gains of 0.24% at 22,155 levels on Friday. The India VIX was down by 2.34% from 12.51 to 12.22 levels.On the options front, the maximum Call OI is placed at 23000 and then towards 22,500 strikes while the maximum Put OI is placed at 22,000 and then towards 2,1800 strikes.Call writing is seen at 22,500 and then towards 22,300 strikes while Put writing is seen at 22,000 and then towards 21,900 strikes.“Options data suggests a shift in trading range in between 21,600 to 22,500 zones while an immediate trading range in between 21,800 to 22,350 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Bullish Engulfing candle on the daily scale and a Bullish candle with longer lower shadow on the weekly frame on Friday suggesting strong support-based buying,” he said.“Now the index has to continue to hold above 22,000 zones for an up move towards 22,222 then 22,350 while on the flipside, support is placed at 21,880 then 21,750 zones,” recommended Taparia.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Sagar Doshi, Technical Analyst Research at Nuvama Wealth told ETBureauPI Industries: Buy| Target Rs 4060| Stop Loss Rs 3664SRF: Buy| Target Rs 2725| Stop Loss Rs 2458Zydus Life: Buy| Target Rs 1070| Stop Loss Rs 966Expert: Nooresh Merani, an independent technical analyst told ETNowAxis Bank: Buy| Target Rs 1130| Stop Loss Rs 1000Naukri: Buy| Target Rs 5800| Stop Loss Rs 5100SAIL: Buy| Target Rs 150| Stop Loss Rs 120Expert: Kunal Bothra, Market Expert told ETNowPI Industries: Buy| Target Rs 3950| Stop Loss Rs 3700HDFC AMC: Buy| Target Rs 3900| Stop Loss Rs 3700EIL: Buy| Target Rs 205| Stop Loss Rs 188(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

China’s efforts to counter the downbeat narrative about a structural slowdown in the world’s second-biggest economy got a boost from enthusiastic endorsements from chief executives of top global companies.Days after he opened an expansive new retail store in Shanghai and pledged a fresh investment in applied research in the country, Apple Inc. Chief Executive Tim Cook on Sunday gushed, “I love it here, I love the Chinese people.”“It’s so vibrant and so dynamic here,” Cook told journalists as he entered the opening session of the China Development Forum, a top annual gathering of business leaders and Chinese officials. Apple has faced expanding restrictions on iPhone use at government agencies and state-backed companies and sales of the smartphone tumbled 24% in the first six weeks of the year.The CDF confab is one of a series this week that offer China a chance to rekindle overseas interest in the nation after an historic slump in foreign investment.For global executives, the meetings are a chance to underscore interest in participating in the giant Chinese market despite deepening geopolitical tensions and moves in China to favor local competitors. Pfizer Inc. CEO Albert Bourla called China “an extremely attractive place.” Nestle SA’s Mark Schneider lauded plans to boost Chinese consumption.Premier Li Qiang delivered an address in the Sunday session, assuring attendees at the Diaoyutai State Guesthouse that China’s economic recovery has been improving, while recognizing some challenges. Later this week, Beijing hosts the Invest in China summit, followed by the annual Boao Forum for Asia on the southern resort island of Hainan.The China Development Forum, which ended Monday, attracted 81 global CEOs to attend in person, largely rebounding to pre-pandemic levels. Li’s speech marked an upgrade of sorts — it’s usually a vice premier who delivers the keynote address — marking a contrast to the premier’s cancellation of a high-profile annual press conference involving the international press earlier this month. A report that Li wouldn’t attend a closed-door meeting with the foreign CEOs also spurred questions about his influence.Scott Kennedy, a China specialist at Washington’s Center for Strategic and International Studies who attended the opening session, offered a mixed review.Li’s address was “reassuring about demonstrating the Chinese government knows how serious domestic problems they face are — and the difficult geopolitical environment,” Kennedy said. But “there was still insufficient specifics and details around what changes to domestic policy they’ll make, and really no recognition that Chinese policies are generating global anxieties and increasing geostrategic tensions,” he said.President Xi Jinping may offer his own remarks to executives later this week, with a potential sit-down on Wednesday. Meantime, Vice President Han Zheng is scheduled to speak at the Invest In China summit Tuesday.For now, overseas business representatives were happy to endorse the messages received.Nestle’s Schneider said Li’s remarks on access for international companies and on bringing back domestic consumption were “music to our ears.” Bourla of Pfizer praised China for having a “coherent, cohesive plan.”The People’s Daily newspaper, an official mouthpiece for the Chinese Communist Party, touted the recent flurry of visits by foreign executives in a page-3 commentary on Monday that proclaimed the country as an indispensable market.While International Monetary Fund Managing Director Kristalina Georgieva called at the forum Sunday for more pro-market reforms, the People’s Daily characterized them as a nod to China’s “new-era of high-quality growth.”The IMF chief was joined at the forum by World Bank President Ajay Banga, helping add to an appearance of re-engagement between Washington and Beijing months after the US-China presidential summit in San Francisco. US Treasury Secretary Janet Yellen last year said the IMF and World Bank “reflect American values.” Yellen herself is expected to return for a visit to Beijing soon.It marked a notable shift from last year, when a number of overseas corporate leaders were hesitant to attend the forum amid an escalation in US-China tensions.“It was very important to have the premier here and speaking to business directly,” said Sean Stein, chair of the American Chamber of Commerce China. “The China Development Forum was always seen as the premier’s platform to talk with businesses on what’s happening in the economy, and that exchange goes all the way back to Zhu Rongji days,” he said, referring to a pro-reform former premier.