Kotak Institutional Equities maintained a 'sell' rating on Larsen & Toubro Ltd, lowering the target price to Rs 3,100 from Rs 3,753 per share amid concern over Saudi Arabia scaling down spending programmes.Recent developments have raised doubts about the growth consistency of Saudi projects. Saudi Aramco has reduced the medium-term capex by $50 billion and hinted at reaching a capex peak earlier t...

Adani Airports has a Rs 60,000-crore capex plan for the next 10 years, says Karan Adani, Around Rs 30,000 crore will be spent on the ‘airside’ in the next five years, while another Rs 30,000 crore will be allocated to the ‘cityside’ in the next five to 10 years at its seven existing airports.The Adani Group has lined up Rs 60,000 crore to expand the seven existing airports in its portfolio...

India’s government will likely increase capital expenditure for the next fiscal year, though the size of the jump may be lower than previous budgets because of a broader economic slowdown, said Sonal Varma, an economist for Nomura Holdings Inc. “The primary focus for the budget will be to push up public capex, or rather to continue to push on public capex, because private capex hasn’t real...

Finance Minister Nirmala Sitharaman is all set to present the central government’s last full Budget on February 1, 2023, ahead of the 2024 Lok Sabha elections. Companies, organisations, and individuals alike are eyeing the budget as the rising inflation and fear of the global economy slipping into a recession grows. Over the past two years, the fiscal deficit target has been above Rs 15 lakh cro...

The Indian share market outshined global markets in 2022 despite global headwinds such as high inflation, rising interest rates, currency swings, geopolitical uncertainties, and the onslaught of FII selling. So far this year, Nifty has gained around 3%, compared to a 10-20?ll in most of the global indices. The outperformance has been driven by a pick-up in capital expenditure by the Central Govern...