Air India Express and AirAsia India have moved to a unified reservation system, whereby passengers can make bookings for both airlines through an integrated website. The move is part of the ongoing process of merging AirAsia India with Air India Express. The combined entity will focus on leisure-oriented and price-sensitive markets. On March 27, the [...]
The telecom industry's financial health needs to improve if India's dream of digital connectivity across the country has to be fulfilled, Bharti Enterprises Vice-Chairman Akhil Gupta said on Tuesday. Very poor return on capital is a big hindrance in telecom development in India today and unless it changes, investments will dry up at some point [...]
Shares of Kalyan Jewellers India tumbled 11.00 percent on Tuesday's early trades after 2.8 crore shares of the company, or 2.74 percent of the overall equity reportedly changed hands in a large block deal. The buyers and sellers are not known yet, however, reports suggest that Warburg Pincus' Highdell Investments was looking to sell some [...]
As many as 11 companies, including Indosol, Reliance and First Solar, have bagged solar photovoltaic manufacturing projects of a total 39,600 MW capacity under the second tranche of the production-linked incentive scheme of the government. The government has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, [...]
Embassy Office Parks REIT on Tuesday said it has agreed to acquire a 1.4 million square feet office property in Bengaluru for an enterprise value of Rs 334.8 crore. The acquiree, Embassy Business Hub is a 59-acre business park situated in North Bengaluru and is close to both the airport and Embassy REIT's flagship property [...]
GR Infraprojects Ltd on Tuesday said it has emerged as the lowest bidder for two NHAI projects worth Rs 1,613.84 crore. The financial bids were opened on March 28, 2023, GR Infraprojects said in a BSE filing. "Our company has emerged as an L1 bidder in a financial bid for the following tenders invited by [...]
Trident Limited, through a recent filing with BSE, provided an update regarding the company’s Employees Welfare Trust offloading equity shares in the company. As per data provided in the block deals section, the Trust sold 123,85,000 equity shares in Trident at a price of ₹25.75 per equity share which amounts to ₹31.89 crores. In the [...]
Housing prices rose 8-10 per cent in this fiscal year and may further increase by 5 per cent in 2023-24, India Ratings and Research (Ind-Ra) said on Tuesday. The rating agency has revised the outlook on the residential real estate sector to neutral from improving for FY24. "The residential real estate market continued its upward [...]
Logistics aggregator Shiprocket on Tuesday said it has collaborated with global e-commerce platform eBay for cross-border shipping solutions to domestic SMEs. As a part of this partnership, all eBay cross-border trade sellers from India will be able to choose its cross-border shipping solution, Shiprocket X, as their shipping partner for eBay shipments, the company said [...]
Zinc oxide manufacturer JG Chemicals has received capital markets regulator Sebi's go-ahead to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red [...]
Capital markets regulator Sebi on Tuesday extended the deadline till September-end for existing trading and demat account holders to provide choice of nomination or opt out of nomination. Earlier the deadline was March 31, 2023. In July 2021, the Securities and Exchange Board of India (Sebi) asked all existing eligible trading and demat account holders [...]
In a recent filing with the exchange on 27th March, Dilip Buildcon Ltd announced that it has been declared as the L-1 bidder for a tender that was floated by the National Highways Authority of India (NHAI) on a hybrid annuity basis (HAM). The filing further mentioned that the project is pertaining to the development [...]
Shares of PNC Infratech Ltd shot up 8.15% on Tuesday’s early trades to reach an intraday high of ₹ 286.70 apiece after the company bagged an order worth ₹ 819 crores. At 11:56 AM, its shares were trading at ₹ 281.95 apiece, up 6.36%. The construction company has been declared as the lowest bidder (L1 [...]
Electronic manufacturing services firm Avalon Technologies on Tuesday said it has fixed a price band of Rs 415-436 a share for its Rs 865-crore initial public offering (IPO). The three-day initial share-sale would be open for public subscription during April 3-6 and the bidding for anchor investors will open on March 31, the company announced. [...]
Taiwan-based battery swapping firm Gogoro Inc on Tuesday said it has joined hands with Zomato and Kotak Mahindra Prime to promote fast adoption of electric mobility in the last-mile transportation segment. As per the partnership, the companies will offer last-mile delivery partners associated with Zomato affordable loan terms and battery swapping services. "The urban transformation [...]
B2B e-commerce startup Fashinza, which focuses on global fashion supply chains, has secured USD 30 million debt funding from Liquidity Group subsidiary Mars Growth Capital, the company said on Tuesday. The Gurugram-based firm plans to use the funds to fuel its ongoing transition into a global business with significant operations in the USA, Gulf, and [...]
A Kotak Mahindra Bank arm on Tuesday announced that it has raised USD 1.25 billion for its second special situations fund. The money raised will be deployed in equity, debt capital and hybrid instruments across sectors, a statement from Kotak Investment Advisors (KIA), the arm of the private sector lender, under which the fund comes, [...]
In a recent filing with the exchange, Innovana Thinklabs Limited announced a bonus issue of 1,02,50,000 bonus equity shares in the ratio of 1:1 which means one new equity Bonus share of Rs. 10/- each for every one existing equity Shares of Rs. 10/- each. The board has fixed the record date for the same [...]
Sri Lanka would seek a new temporary credit facility of USD 1 billion from India to purchase essential items including food and medicine, the official media here reported on Monday. Sri Lanka received 333 million dollars, the first tranche of the USD 3 billion International Monetary Fund (IMF) bailout programme last week to overcome its [...]
Finance minister Nirmala Sitharaman on Monday informed the Lok Sabha that 54 FDI proposals with investor/beneficial owner from China and Hong Kong are pending for decision with the government. In April 2020, the government had amended the FDI policy in order to curb opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic. As per [...]
