Yet Another QSR Joining IPO Queue
Devyani International (DIL) is the latest to join the list of Quick Service Restaurants (QSRs) going public. DIL is the largest franchisee of Yum Brands, operating Pizza Hut, KFC, and Costa Coffee. It also operates its proprietary brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Juice Bar. Its stores are located in 26 states across 155 cities in India. It also operates in Nepal and Nigeria.
With this announcement, the company has joined the QSRs and restaurants like Burger King and Barbeque Nation, which have launched their IPOs in the current year. Zomato, though primarily present in the food delivery business, also operates in the QSR segment indirectly through its cloud kitchens.
Building Forex Reserves
RBI’s foreign exchange reserves have grown to a record high of $611.89 billion during July 2021. If RBI's monthly bulletin is any indication to go by, the central bank could continue to boost its reserves further in months to come.
Forex buffers will keep the country better equipped when screws are tightened on the flow of liquidity. Strong forex reserves will help in combating any future volatility in the currency. It will strengthen RBI's ability to intervene when FIIs flow starts withdrawing from India.
Scorching Speed of Highway Construction
Road construction activities continued at a rapid pace even during the peak of the second COVID-19 wave. Road Transport Minister Nitin Gadkari informed that around 2,284 kilometres of national highways were constructed during the April-June period. It is 25% higher than the same period last year.
The government has even signed a loan agreement with the World Bank for its Green National Highway Corridor project. It is looking to convert 781 kilometres of various national highways into green corridors under the same.
Apart from this, there are 2,112 ongoing national highway projects in the country. Hence, construction activities are expected to stay at elevated levels even in the upcoming quarters.