Union Minister for Road Transport and Highways Nitin Gadkari on Tuesday launched the Raajmarg Infra Investment Trust (RIIT), sponsored by the National Highways Authority of India (NHAI), marking its listing on the Bombay Stock Exchange (BSE).
The maiden public issue of the RIIT received a strong response from investors, marking its debut on the BSE. Officials described the listing as an important step in attracting investment into India’s highway infrastructure sector, reported ANI.
Addressing the listing ceremony, Gadkari said the next target is to monetise 1,500 kilometres of highways over the next three years through Raajmarg Infra Investment Trust (InvIT).
He added that the initiative enables direct public participation in India’s infrastructure growth and contributes to the vision of Prime Minister Narendra Modi to create an Aatmanirbhar Bharat.
Gadkari highlighted that the Raajmarg InvIT represents a transformative step, turning national highway users into stakeholders in the projects. He also noted that the public issue of the InvIT was oversubscribed nearly 14 times, marking a significant milestone in India’s infrastructure investment journey, reported ANI.
Domestic markets open higher, recover from recent selling pressure
Meanwhile, earlier in the day, the domestic share markets opened on a positive note, taking a breather from recent selling pressure, with both benchmark indices registering strong gains in early trade. However, market volatility remained high amid ongoing uncertainty linked to the Strait of Hormuz.
The Nifty 50 opened at 22,878.45, gaining 365.80 points, or 1.62 per cent, while the BSE Sensex surged by 1,516.08 points, or 2.09 per cent, to open at 74,212.47. Market experts noted that despite the recovery, uncertainty continues to weigh on investor sentiment.
Sectoral indices on the NSE showed broad-based buying, with all sectors opening in the green. Nifty Auto surged more than 2 per cent, Nifty PSU Bank gained 2.40 per cent, Nifty IT rose 1.46 per cent, Nifty FMCG increased 1.44 per cent, Nifty Metal jumped 2.31 per cent, Nifty Pharma advanced 1.15 per cent, and Nifty Private Bank gained 1.62 per cent.
In other Asian markets, a positive trend was observed. Japan’s Nikkei 225 index rose 0.75 per cent to 51,920, Singapore’s Straits Times gained 0.13 per cent to 4,849, Hong Kong’s Hang Seng index increased 1.75 per cent to 24,797, Taiwan’s Weighted index remained flat at 32,697, and South Korea’s KOSPI index surged more than 2 per cent to 5,522.
US markets also ended higher on Monday. The Dow Jones rallied 1.38 per cent to close at 46,208, the S&P 500 gained 1.15 per cent to 6,581, and the Nasdaq rose 1.38 per cent to 21,946.
(With ANI inputs)
