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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)

The world's governments have agreed they want to triple renewable energy by 2030, a goal laid out at the U.N. climate summit in December.But right now, the post-pandemic global economy is throwing up obstacles that will need to be overcome if the goal is going to be met.Here are the big hurdles to solar, wind and other renewable energy projects:Central banks in Europe and the U.S. have raised interest rates to combat inflation. That hits renewables harder than it does investment in fossil fuel projects.Renewables have much higher up-front costs to build wind farms, solar arrays and more, and that borrowing costs money. After that, operating costs are negligible since the wind and sun are free, of course — but high interest rates have made it harder to get new projects off the ground.In many cases, the answer is raising the agreed price of the electricity flowing to the grid to cover the added costs.Everything costs more these days — not just food and rent, but the electric cables, power turbines, construction materials and services needed to build wind or solar installations. One exception: solar panels have plunged in price due to massive Chinese production.Order backlogs and supply delays are growing because there are shortages of skilled engineers, raw materials and a lack of manufacturing capacity for complex machinery needed for renewable energy projects.An order for a new wind turbine or a transformer to connect to the grid can take months or longer to arrive than it did before the COVID-19 pandemic.So-called NIMBY syndrome remains an issue in many places. Germany's southern region of Bavaria, for example, is known for resisting the noise and appearance of wind turbines in its scenic landscape.Installations have lagged in Bavaria and other regions despite the German government's push for more renewable energy after losing affordable Russian natural gas used to heat homes, generate electricity and power factories.Low-income countries have long faced much higher borrowing costs than the richer parts of the globe because government subsidies or other credit guarantees are uncertain.The result is that the same solar park if built today costs twice as much in Ghana as it would in the U.S. because of interest rates alone, according to Todd Moss, a former State Department official who heads the Energy for Growth Hub in Washington.

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)