Latest news with #AmritBharatScheme
Time of India
25-06-2025
- Business
- Time of India
Sambhv Steel Tubes IPO subscribed 31% so far on Day 1, GMP at 11%. Should you subscribe?
The IPO of Raipur-based Sambhv Steel Tubes (SSTL), a backward-integrated manufacturer of ERW steel pipes and structural tubes, opened for subscription earlier today and has been subscribed 31% so far on the first day of the bidding process, with a grey market premium (GMP) of 11%. Qualified institutional buyers (QIBs) led the response, subscribing to 38% of their quota, followed by retail investors at 32%, and non-institutional investors (NIIs) at 19% of their reserved portion. Investors can apply for a minimum of 182 shares, requiring a minimum investment of Rs 14,924 at the upper price band. Ahead of the issue opening, the GMP stood at Rs 9–10, indicating an 11% premium over the issue price. The IPO comprises a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore. The proceeds will primarily be used to repay borrowings (up to Rs 390 crore) and for general corporate purposes. The stock is scheduled to list on July 2 on both the NSE and BSE. Should You Subscribe to the Sambhv Steel Tubes IPO? Geojit Financial Services – Subscribe At the upper price band of Rs 82, SSTL is valued at a P/E ratio of 44.5x (FY25E annualised), which appears reasonably priced relative to peers. SSTL is strategically positioned to benefit from India's infrastructure push, driven by schemes such as the Jal Jeevan Mission and Amrit Bharat Scheme. As a backward-integrated player with consistent financial growth, strategic sourcing efficiency, and expansion plans, the company is well-placed for long-term value creation—supporting a Subscribe recommendation for investors. BP Wealth – Subscribe BP Wealth highlights Sambhv's cost-efficient, single-location integrated facility and growing market share. Ventura Securities also recommends Subscribe, citing the company's robust distributor-dealer network across 15 states and one union territory, and its expansion into stainless steel products, which could improve margins in the future. Sambhv's product portfolio includes black pipes, hollow sections, CRFH pipes, Corten steel pipes, GP pipes, GI pipes, and more. Since commencing operations in 2018, the company has achieved vertical integration—manufacturing sponge iron, blooms, slabs, and coils in-house. This structure offers protection against input cost fluctuations and ensures supply chain reliability. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
25-06-2025
- Business
- Economic Times
Sambhv Steel Tubes IPO subscribed 31% so far on Day 1, GMP at 11%. Should you subscribe?
The IPO of Raipur-based Sambhv Steel Tubes (SSTL), a backward-integrated manufacturer of ERW steel pipes and structural tubes, opened for subscription earlier today and has been subscribed 31% so far on the first day of the bidding process, with a grey market premium (GMP) of 11%. ADVERTISEMENT Qualified institutional buyers (QIBs) led the response, subscribing to 38% of their quota, followed by retail investors at 32%, and non-institutional investors (NIIs) at 19% of their reserved portion. Investors can apply for a minimum of 182 shares, requiring a minimum investment of Rs 14,924 at the upper price band. Ahead of the issue opening, the GMP stood at Rs 9–10, indicating an 11% premium over the issue price. The IPO comprises a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore. The proceeds will primarily be used to repay borrowings (up to Rs 390 crore) and for general corporate purposes. The stock is scheduled to list on July 2 on both the NSE and BSE. At the upper price band of Rs 82, SSTL is valued at a P/E ratio of 44.5x (FY25E annualised), which appears reasonably priced relative to peers. SSTL is strategically positioned to benefit from India's infrastructure push, driven by schemes such as the Jal Jeevan Mission and Amrit Bharat Scheme. ADVERTISEMENT As a backward-integrated player with consistent financial growth, strategic sourcing efficiency, and expansion plans, the company is well-placed for long-term value creation—supporting a Subscribe recommendation for investors. ADVERTISEMENT BP Wealth highlights Sambhv's cost-efficient, single-location integrated facility and growing market share. Ventura Securities also recommends Subscribe, citing the company's robust distributor-dealer network across 15 states and one union territory, and its expansion into stainless steel products, which could improve margins in the product portfolio includes black pipes, hollow sections, CRFH pipes, Corten steel pipes, GP pipes, GI pipes, and more. ADVERTISEMENT Since commencing operations in 2018, the company has achieved vertical integration—manufacturing sponge iron, blooms, slabs, and coils in-house. This structure offers protection against input cost fluctuations and ensures supply chain reliability. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
23-06-2025
- Politics
- Time of India
A Raja asks railway minister to remove Hindi banners from Nilgiris station
DMK leader and Nilgiris MP A Raja has written a letter to Union Railway Minister Ashwini Vaishnaw, asking him to remove banners written in Hindi from the Udhagamandalam (Ooty) railway station in Tamil Nadu. He said that one of the quotes on the banners was wrongly credited to freedom fighter Madan Mohan Malaviya, when it was actually said by famous Tamil poet Mahakavi Bharathi. Raja said the increased use of Hindi at the station has upset many people in the state and led to public protests. He explained that the Nilgiris railway station is over 100 years old and is currently being renovated under the Amrit Bharat Scheme. However, with 90% of the work still pending, banners in Hindi have already been put up, which he said was disrespectful to the Tamil-speaking population. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like My baby is in so much pain, please help us? Donate For Health Donate Now Undo He reminded the Minister that Tamil Nadu has always valued its language and culture, and has consistently supported a two-language policy (Tamil and English). The use of Hindi in such public places is being seen by many as an unwanted imposition and a political move, he added. Raja urged the central government to respect the language preferences of Tamil people and not to make Hindi a must in places where it is not needed. He requested the removal of the banners to avoid hurting public sentiments. Live Events [With TOI inputs]
The Hindu
12-06-2025
- General
- The Hindu
Passenger associations demand coach watering facility, stabling lines on KRCL network in Udupi, Uttara Kannada districts
Railway patrons and passenger associations of Udupi and Uttara Kannada districts have planned to flag certain major concerns of the region, including lack of coach watering facility, stabling lines and upgradation of Udupi Railway Station under Amrit Bharat Station Scheme (ABSS) with Minister of State for Railways V. Somanna when he visits Udupi district on Friday, June 13. The Railways was unable to start or terminate any train either at Karwar or Udupi as the Konkan Railway Corporation Ltd., (KRCL) has not provided coach watering facility in any of the stations in coastal Karnataka, regretted Kundapura Railway Prayanikara Samithi president Ganesh Puthran. While KRCL claims watering facility was available within about 350 km distance--at Mangaluru Junction and Madgaon--the possibility of operating trains towards Bengaluru via Padil Bypass without touching Mangaluru Junction gets affected. Therefore, KRCL should introduce coach watering facility either at Udupi or Kundapura Railway Station, Mr. Puthran demanded. He further said KRCL has not provided stabling lines at any of the stations on the entire Karnataka coast thereby making it difficult to stable trains for a few hours. Consequently, trains, either special or regular, have to resume return journey immediately thereby inconveniencing people, he noted. Stations development Besides urging the Railway Ministry to immediately sanction KRCL proposal to develop Udupi Railway Station under ABSS, Kundapura Railway Station too should be developed under the shceme, Mr. Puthran demanded. Also, important stations in coastal Karnataka lack adequate platform shelters as well as shelters for foot overbridges. KRCL should address this serious shortcoming on priority basis, he demanded. Uttara Kannada Railway Samithi Secretary Rajiv Gaonkar demanded low level second platforms at important stations, including Kumta and Gokarna Road, should be upgraded immediately for the benefit of passengers. Besides, there was no second platform at Barkur Railway Station near Brahmavara that causes severe misery to passengers if a train halts on the second line, he said. Mr. Gaonkar said the Ministry should forthwith implement its own decision, to extend Train No. 16585/586 SMVT Bengaluru-Murdeshwar-SMVT Bengaluru to Vasco da Gama so as to resume the lost connectivity between Karwar and Mysuru regions. He also demanded development of Karwar Station under Amrit Bharat Scheme.
Time of India
08-06-2025
- Business
- Time of India
1st time since Independence, Aizawl will be in Indian rly map: Vanlalruati
1 2 3 4 Aizawl: The state capital is set to join the national railway map with the Bairabi-Sairang rail line being operational by June or July due to the concerted efforts made by the Centre led by Prime Minister Narendra Modi, BJP's state executive member and vice-president of the party's Aizawl district K Vanlalruati said on Sunday. Vanlalruati informed TOI, "Progress accelerated after the NDA govt came to power in 2014 with Mizoram being first linked to the broad gauge network at Bairabi in 2016. Now, for the first time since Independence, Aizawl city will be in the Indian railway map." Operation of the railway service will mark a historic step for regional connectivity and the Sairang Railway Station is being modernised under the Amrit Bharat Scheme, she said. Underscoring the importance of road communication in the state, she said key projects like the Aizawl-Tuipang Highway and Seling-Champhai Corridor have been completed under the Modi govt and have improved links to Myanmar, Bangladesh as well as neighbouring states such as Assam, Tripura and Manipur, boosting trade and mobility. BJP state unit has been launching an awareness programme on '11 Years Of Modi Govt' across the state to educate the common people on the benefits of the numerous central govt's flagship programmes and schemes, she said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo "Connectivity has improved significantly under Modi's govt, with over 1,000km of national highways developed, including 620km completed by the National Highway Infrastructure Development Corporation Limited (NHIDCL). In the last four years, NHIDCL has executed works worth over Rs 13,000 crore across these 620km and Rs 6,400 crore has been sanctioned for future NHIDCL projects, which are scheduled to commence soon," Vanlalruati said. In housing, over 48,000 homes have been built under PM Awas Yojana with Aibawk town becoming India's first completed urban cluster, and Aizawl is seeing Rs 513 crore worth of development under the Smart Cities Mission, she said, adding that over 1.24 lakh households have received tap water connections under Jal Jeevan Mission in Mizoram.
