Axis Bank Sells NHIT Stake for Rs 2.3 Billion

29 Mar 2025 CW Team

Axis Bank has divested a 1.3% stake in National Highways Infra Trust (NHIT) for Rs 2.3 billion through an open market transaction.

NHIT, an infrastructure investment trust (InvIT) sponsored by NHAI, was established in 2021 under the National Monetisation Pipeline initiative. According to BSE bulk deal data, Axis Bank sold 17.1 million units at an average price of Rs 133.80 per unit, valuing the transaction at Rs 2.29 billion.

The details of the buyer(s) remain undisclosed. On March 26, NHIT units closed 3.31% lower at Rs 133.68 per unit on the BSE.

Last week, SBI Mutual Fund also sold a 4.7% stake in NHIT for Rs 8.15 billion. Meanwhile, NHIT Southern Projects, a subsidiary, received approval from the Competition Commission of India (CCI) to acquire concession rights for 11 road projects from NHAI under the automatic green channel route.

(money.rediff)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..