Indian Market

Gujarat Gas Surges After Board Approves GSPC and GSPL Merger

Gujarat Gas Surges After Board Approves GSPC and GSPL Merger

/ Indian Market

Gujarat Gas is making headlines after its board approved a scheme of arrangement and amalgamation involving Gujarat State Petroleum Corporation (GSPC), GSPC Energy, and Gujarat State Petronet (GSPL) merging into Gujarat Gas. This strategic move has prompted brokerages to revise their target prices upward for the city gas distribution company. As part of the restructuring, […]

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HDFC Bank Block Deal: 4.69 Crore Shares Sold for Rs 6,997 Crore Amid MSCI Rebalancing

HDFC Bank Block Deal: 4.69 Crore Shares Sold for Rs 6,997 Crore Amid MSCI Rebalancing

/ Indian Market

HDFC Bank witnessed a major block deal on August 30, where 4.69 crore shares were traded in multiple transactions totaling Rs 6,997 crore. The block deal coincided with the due date for MSCI indices’ August rebalancing, following the global indices provider’s decision to increase HDFC Bank’s Foreign Inclusion Factor (FIF) from 0.37 to 0.56 earlier

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Adani Ports Acquires 80% Stake in Global OSV Operator Astro Offshore for $185 Million

Adani Ports Acquires 80% Stake in Global OSV Operator Astro Offshore for $185 Million

/ Indian Market

Adani Ports and Special Economic Zone Ltd (APSEZ) has announced its acquisition of an 80% stake in Astro Offshore, a global offshore service vehicle (OSV) operator. The deal, valued at $185 million, is an all-cash transaction that gives Astro an enterprise value (EV) of $235 million, with an EV/FY25E EBITDA multiple of 4.4x, according to

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SpiceJet Shares Plummet Nearly 7% Following DGCA's Enhanced Surveillance Measures

SpiceJet Shares Plummet Nearly 7% Following DGCA’s Enhanced Surveillance Measures

/ Indian Market

SpiceJet’s stock price dropped by almost 7% on August 30 after the Directorate General of Civil Aviation (DGCA) announced that the airline would be placed under enhanced surveillance. The stock opened with a 5.78% loss during Friday’s trading session and fell to an intraday low of Rs 62.01, marking a 6.37% decline. The DGCA’s decision

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Vistara to Operate Last Flight on November 11 Ahead of Air India Merger

Vistara to Operate Last Flight on November 11 Ahead of Air India Merger

/ Indian Market

Vistara announced that it will operate its final flight on November 11, 2024, as the airline prepares to merge with Air India. Following this date, all Vistara aircraft will be integrated into Air India’s operations, with bookings for routes previously served by Vistara redirected to Air India’s website. This would mean that starting September 3,

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Garden Reach Shipbuilders shares zoom as company signs MoU with NHIDCL

Garden Reach Shipbuilders shares zoom as company signs MoU with NHIDCL

/ Indian Market

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) saw its share price rise over 2% in early trading on August 30 following the announcement of a Memorandum of Understanding (MoU) with the National Highway Infrastructure Development Corporation Ltd. (NHIDCL). The MoU is for the fabrication, supply, and launching of Double-Lane Class 70 modular steel and Bailey

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ITI share price rises nearly 3% on EVM order from Election Commission

ITI share price rises nearly 3% on EVM order from Election Commission

/ Indian Market

ITI Limited’s share price surged nearly 3% in early trading on August 30 after the company announced a new order from the State Election Commission (SEC) of West Bengal. The order involves the supply of 500 sets of Multi Post Electronic Voting Machines (EVMs), designed and developed by ITI Limited. These EVMs are to be

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Reliance Industries to Consider 1:1 Bonus Issue on September 5; Stock Jumps 2%

Reliance Industries to Consider 1:1 Bonus Issue on September 5; Stock Jumps 2%

/ Indian Market

Reliance Industries Ltd (RIL), India’s largest company by market value, will consider issuing 1:1 bonus shares during its upcoming board meeting on September 5, 2024. This decision aligns with the company’s goal to reward its shareholders following strong financial performance and ongoing business expansion. The board of RIL will consider and may recommend the issue

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NLC India Shares Gain 3% After Signing 200 MW Solar Power Supply Agreement

NLC India Shares Gain 3% After Signing 200 MW Solar Power Supply Agreement

/ Indian Market

NLC India shares climbed over 3% in early trading on August 29 following the company’s announcement of a power usage agreement in Hyderabad. As of 09:23 am, NLC India was trading at ₹286.50 on the BSE, reflecting a 3.75% increase. The accord signed with Telangana State DISCOMs is about a 200 MW solar power project,

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KEC International Shares Surge 5% on Securing ₹1,171 Crore T&D Orders in Middle East

KEC International Shares Surge 5% on Securing ₹1,171 Crore T&D Orders in Middle East

/ Indian Market

The shares of KEC International jumped over 5% in the early deals on August 29 after the infra company has bagged new orders of Transmission and Distribution (T&D) worth ₹1,171 crore in the Middle East. Other new orders include a 400-kV transmission line project in the UAE, while the other one is a 380-kV transmission

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