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In preparation for the October 11 and 12 Dussehra celebrations, Noida authorities have issued a traffic advisory to ensure smooth flow and safety. Several routes are expected to experience heavy congestion due to festivities, and drivers are advised to avoid certain areas. Key routes to avoid include: Sector 18 and surrounding markets: Expect heavy pedestrian traffic. Noida-Greater Noida Expressway: Increased vehicles may cause delays. Major intersections near event venues: Traffic diversions may be in place. Motorists are encouraged to use alternative routes and allow extra travel time. Public transport options are also recommended to minimize congestion. Stay informed and plan your travel accordingly for a hassle-free experience during the celebrations. Noida Traffic Advisory for Dussehra Celebrations (October 11-12, 2024) To ensure smooth traffic flow and safety during the Dussehra celebrations, Noida police have issued a traffic advisory detailing road closures and diversions effective from 2:00 PM on October 11 until the conclusion of the events on October 12. Restrictions: Complete restrictions on vehicle entry: From Sector 12-22-56 to Stadium Chowk From Sector 10-21 U-turn to Sector 12-2256 Trijunction towards the Stadium From Sector 8-10-11-12 to Stadium Chowk via Mandi Mall Chowk From Sector 31-25 to Sector 21-25 through Mandi Mall Chowk to Stadium Chowk From Metro Hospital Chowk to Sector 12-22 Chowk and towards the Stadium From Coast Guard Trijunction via NH-24 to Sector 12-22 Chowk Traffic management plan: Vehicles heading towards the Ramleela grounds and other event venues will be diverted to manage the anticipated congestion effectively. Noida Traffic Diversions for Dussehra Celebrations and Idol Immersion Route diversions at Sector-62 Ramleela grounds: From Jitendra Vihar Chowk to Sector 12-22-56 towards Sector 10-21: Traffic will be diverted via Sector 31-25 and NH-24. From Sector 12-22-56 Trijunction to Stadium Chowk: Traffic will be rerouted through Sector 57 and Mandi Chowk to Sector 31-25. From Sector 12-22-56 to Jitendra Vihar Chowk towards Metro Hospital: Vehicles will be diverted through various sectors. From DM Road and Yamuna Vihar Road to Mandi Mall Chowk and Ramleela Grounds: Diversions will be implemented. Traffic for idol immersion: On October 12, starting at 9:00 AM, several key routes will be affected due to special processions, Durga idol visarjans, and events at popular venues, including the Yamuna Riverbank, Hanuman Temple, and various local temples. Cars heading towards Noida-Greater Noida Expressway and Delhi: Will be redirected to alternative routes. Cars from Sector 37 towards Yamuna Riverbank: Will be diverted via Mahamaya Flyover. Cars from Loni Road to Hanuman Temple: Will be redirected via local routes. MORE INFORMATION : https://24onlive.in/latest-news-noida-police-issues-traffic-advisory-ahead-of-dussehra-avoid-these-routes-for-hustle-free-travel/

Prime Minister Narendra Modi on October 11 called for the restoration of peace and stability in Eurasia and West Asia, noting that conflicts are having the most negative impact on the countries of the Global South, PTI reported. Speaking at the 19th East Asia Summit in Vietnam, the PM also stated that solutions to problems “cannot come from the battlefield”, it added. Peace and Progress Modi added that a “free, open, inclusive, prosperous and rule-based Indo-Pacific” is important for the peace and progress of the entire region and that “peace, security and stability of the South China Sea is in the interest of the region.” “We believe that maritime activities should be conducted under the UN Convention on the Law of the Seas (UNCLOS). It is necessary to ensure freedom of navigation and air space. A strong and effective Code of Conduct should be created. And it should not curb the foreign policy of regional countries. Our approach should be one of developmentalism and not expansionism,” he said. Negative Impact on Global South PM Modi also noted that ongoing conflicts across the world are having “the most negative impact on the countries of the Global South” and that all across Eurasia and West Asian want peace and stability to be restored “as soon as possible”. “I come from the land of Buddha, and I have repeatedly said that this is not the era of war. Solutions to problems cannot come from the battlefield. It is necessary to respect sovereignty, territorial integrity and international laws. Keeping a humanitarian approach, dialogue and diplomacy will have to be given priority,” Modi added. Fulfilling the responsibility of ‘Vishwabandhu’, India will continue to contribute in every possible way in this direction, he added. India and ASEAN Relations Modi also said India has always supported ASEAN Unity and Centrality and pointed out that the bloc is at the centre of India’s Indo-Pacific vision and Quad cooperation, stating: “There are deep similarities between India’s ‘Indo-Pacific Oceans’ Initiative’ and ‘ASEAN Outlook on Indo-Pacific’. We support the ASEAN approach to the situation in Myanmar. We also support the Five-point Consensus. At the same time, we believe that it is important to maintain humanitarian assistance.” PM Modi also called for appropriate steps for the restoration of democracy in the region. “We believe that, for this, Myanmar should be engaged, not isolated. As a neighbouring country, India will continue to fulfil its responsibility. The East Asia Summit is an important pillar of India’s Act East Policy, he added. MORE INFORMATION : https://24onlive.in/latest-world-news-conflicts-are-having-most-negative-impact-on-global-south-pm-modi-says-not-era-of-war/

Garuda Construction IPO: The initial public offering (IPO) of Garuda Construction and Engineering Limited hit the Indian primary market on 8th October 2024 and will remain open until 10th October 2024. This means investors have just one day to apply for the Garuda Construction and Engineering Limited IPO. As per the Garuda Construction and Engineering Limited IPO subscription status, the public issue has received a decent response from investors in all segments. Meanwhile, the grey market has been cautious about the Garuda Construction and Engineering Limited IPO. According to stock market observers, shares of the company are available at a premium of ₹5 in the grey market today. Garuda Construction and Engineering Limited IPO GMP As mentioned, Garuda Construction and Engineering Limited’s IPO GMP (Grey Market Premium) today is ₹5, ₹5 lower than Wednesday’s GMP of ₹10. Market observers said that Garuda Construction and Engineering Limited’s IPO GMP has fallen from ₹20 to ₹5 in just two days, recording a 75% fall in its grey market premium. Garuda Construction and Engineering Limited IPO subscription status By 2:54 PM on day three of bidding, the public issue had been booked 6.57 times, the retail portion 9.90 times, the NII segment 6.64 times, and the QIB portion 1.13 times. Garuda Construction and Engineering Limited IPO review Giving a ‘buy’ tag to the Garuda Construction and Engineering Limited IPO, Anshul Jain, Head of Research at Lakshishree Investment and Securities, said, “Garuda Construction and Engineering is set to launch its IPO with a price band between ₹92 and ₹95 per equity share, with a face value of ₹5 each. The company, which has seen impressive growth, reported revenues of ₹7,702.08 lakh in FY22, soaring to ₹15,417.83 lakh by FY24. This reflects a solid Compound Annual Growth Rate (CAGR) of 26.03%.” “The funds from the IPO will support the company’s operational needs and fuel general business expansion, including potential non-organic acquisitions. The latest Grey Market Premium (GMP) for the IPO stands at ₹5, pushing the estimated listing price to ₹100. This suggests the debut of the company shares. We maintain a “Subscribe” view on the Garuda Construction IPO for potential listing gains.” “With rising demand for infrastructure and strong government support, India could become the third-largest construction market in the world, and the sector could contribute 15% to the economy by 2030. Financially, the company’s revenue doubled from ₹77.0 crores in FY22 to ₹154.2 crores in FY24, showing an impressive annual growth rate of 26.0%. Its profit after tax also grew from ₹18.8 crores in FY22 to ₹36.4 crores in FY24, with an annual growth rate of 24.7%. The average debt-to-equity ratio of other companies in the industry ranged between 0.23x and 0.66x during FY19-FY23, but in FY23, the company has reduced its debt & is debt-free. With an order book worth ₹1,408 crores, which is 9.2 times its sales, and an IPO priced at a reasonable Price-to-Earnings (P/E) ratio of 19.5x based on FY24 earnings, we recommend a “SUBSCRIBE” rating for this IPO from a long-term perspective,” said Akriti Mehrotra, Research Analyst at StoxBox. However, SEBI registered research analyst VLA Ambala has suggested investors avoid this public issue, saying, “On the financial front, the company has witnessed strong growth. With revenues of more than ₹15 lakhs in FY24 and a profit margin of 34.80%, the IPO is priced with a P/E of 11.7x at the upper price band in FY24 earnings. The sudden spike is a red alarm, and its trade receivables are higher than its top lines, as reported so far. However, it has an order book of 1400 for next year, but in my opinion, its financial state is compelling. Also, IPO timing got bad when Indian markets showed weakness; therefore, its impact will be seen in IPO, especially when company fundamentals are not great. I see a mute listing in it, so if traders and investors plan only for listing gains, they can avoid this IPO. Many good companies in the market have outperformed and are currently available at discounted prices. If you have an investment plan, I would suggest to look for such companies. Moreover, do not get caught in FOMO as every yellow thing is not gold.” Garuda Construction and Engineering Limited IPO details In the wake of the ‘T+3’ listing rule, the most likely Garuda Construction and Engineering Limited IPO allotment date is 11th October 2024, i.e., on Friday this week, whereas the most likely Garuda Construction and Engineering Limited IPO listing date is 15th October 2024, i.e., on Tuesday next week. MORE INFORMATION : https://24onlive.in/latest-market-news-garuda-construction-and-engineering-limited-ipo-gmp-subscription-status-to-review-buy-or-not/

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