Indian Market

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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Resourceful Automobile Shares List Flat at ₹117 Despite 419x IPO Subscription

Resourceful Automobile Shares List Flat at ₹117 Despite 419x IPO Subscription

/ Indian Market /

Shares of Resourceful Automobile made a weak debut on the BSE SME platform on Wednesday, listing at its issue price of ₹117, despite a massive oversubscription of 419 times during the IPO process. In fact, the ₹12-crore public offer created a lot of buzz, with 40.76 crore shares bid for against 9.76 lakh shares on

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IndiGo Promoter Rakesh Gangwal Plans to Sell $850 Million Stake

IndiGo Promoter Rakesh Gangwal Plans to Sell $850 Million Stake

/ Indian Market /

IndiGo’s co-founder and promoter, Rakesh Gangwal, is reportedly planning to sell up to $850 million worth of shares in InterGlobe Aviation, the airline’s parent company. According to CNBC-TV18, Gangwal is seeking to offload his stake through block deals at a discounted indicative price of Rs 4,593 per share. As of June 2024, Gangwal held a

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