Nitin Gadkari Unveils Raajmarg Infra Investment Trust
Union Minister for Road Transport and Highways Nitin Gadkari unveiled the Raajmarg Infra Investment Trust (RIIT) sponsored by the National Highways Authority of India (NHAI), officially listed on the Bombay Stock Exchange (BSE).
The inaugural public offering of RIIT garnered significant interest from investors, culminating in a successful debut on the BSE. This listing was hailed by officials as a crucial milestone in encouraging investment in India's highway infrastructure industry.
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During his speech at the listing ceremony, Gadkari mentioned that their upcoming goal is to monetize 1,500 kilometers of highways within the next three years using Raajmarg InvIT.
He emphasized that this initiative offers the public a chance to directly contribute to the development of India's infrastructure, aligning with Prime Minister Narendra Modi's vision of establishing an Aatmanirbhar Bharat.
Gadkari pointed out that the Raajmarg InvIT marks a significant milestone, as it transforms national highway users into invested participants in the projects. He further pointed out that the initial public offering of the InvIT received subscriptions nearly 14 times its offering, representing a notable achievement in India's infrastructure investment landscape.
This morning, the domestic stock markets began with a positive trend, pausing the recent selling pressure, as both key indices demonstrated robust gains in the early trading session.
Nevertheless, market instability continued to be prevalent due to the persistent uncertainty surrounding the Strait of Hormuz. The Nifty 50 began trading at 22,878.45, registering an increase of 365.80 points or 1.62 percent, while the BSE Sensex rose by 1,516.08 points or 2.09 percent to open at 74,212.47. Analysts in the market observed that despite the rise, uncertainty is still impacting investor confidence.
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Across the National Stock Exchange, sector-specific indices displayed strong purchasing activity, with all sectors opening positively. Nifty Auto saw a surge of more than 2 percent, Nifty PSU Bank rose by 2.40 percent, Nifty IT increased by 1.46 percent, Nifty FMCG grew by 1.44 percent, Nifty Metal jumped by 2.31 percent, Nifty Pharma advanced by 1.15 percent, and Nifty Private Bank gained 1.62 percent.
In various other Asian markets, a favorable trend was observed. Japan's Nikkei 225 index experienced a 0.75 percent increase, closing at 51920. Singapore's Straits Times also saw a modest gain of 0.13 percent, reaching 4849. Similarly, Hong Kong's Hang Seng index rose by 1.75 percent, closing at 24797.
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Taiwan's Weighted index remained steady at 32697, while South Korea's KOSPI index surged by more than two percent, closing at 5522. Additionally, US markets concluded on a positive note. The Dow Jones index surged by 1.38 percent, closing at 46208, the S&P 500 experienced a 1.15 percent increase, reaching 6581, and the Nasdaq rose by 1.38 percent, closing at 21946.