Interglobe Aviation (IndiGo)
Interglobe Enterprises, led by Rahul Bhatia, is set to sell a $394 million stake in IndiGo’s parent company, Interglobe Aviation. This marks a significant move as Bhatia plans to offload around 2% of his 37.75% stake in the company through a block deal. This strategic decision aims to unlock value for the first time in many years.
Struggling with debt, Vodafone Idea has scheduled a board meeting for June 13 to discuss issuing equity shares or convertible securities on a preferential basis to vendors. The company continues to report widening losses alongside a marginal increase in annual revenue.
Rail Vikas Nigam Limited (RVNL)
RVNL has been selected as the lowest bidder by Central Railway for a project in the Amla-Nagpur Section. Additionally, a consortium of Siemens and RVNL secured a ₹394 crore contract from Bangalore Metro Rail Corporation Ltd (BMRC) for engineering and commissioning various systems, to be completed within 130 weeks.
Transformers and Rectifiers India
The company is set to raise funds through a qualified institutional placement at a floor price of ₹699.95 per share, aiming to bolster its financial position and drive growth.
Tata Motors is offering substantial savings on popular models such as the Tiago, Altroz, Nexon, Harrier, and Safari, with discounts reaching up to ₹55,000 on select MY2024 units. This move is part of their strategy to boost sales and maintain a competitive edge in the market.
IRB Infrastructure Developers
Cintra, a subsidiary of the Spanish infrastructure group Ferrovial, plans to sell up to a 5% stake in IRB Infrastructure Developers via a block deal, priced between ₹63-70.16 per share. This represents a potential 10.2% discount to the last closing price, with the transaction size estimated at ₹1,900.3 crore at the lower end.
Power Grid Corp. successfully implemented the ‘Reliable Communication Scheme under Central Sector for Northern Region’ from April 1, enhancing its operational efficiency and communication capabilities.
As the master franchise operator for Dominos in India, Jubilant Foodworks plans to double its outlets to 4,000 within the next four years. The company is targeting around 200 new stores annually to achieve this ambitious goal.
Suzlon Energy
Following the resignation of independent director Marc Desaedeleer, Suzlon Energy clarified there are no financial irregularities or compliance violations within the company. Desaedeleer’s resignation had raised concerns about corporate governance issues.
Bank of India
Bank of India has acquired a 6.125% stake in Clearing Corporation of India Ltd. (CCIL) IFSC, investing ₹6.125 crore. This acquisition underscores the bank’s commitment to supporting the growth of the International Financial Services Centre (IFSC) in GIFT City.
Havells India
Havells India has partnered with UAE-based Jumbo Group to enter the kitchen appliances market. This strategic move will see their products available on Jumbo’s e-commerce platform and retail stores.
Infosys has partnered with GitHub, a Microsoft-owned platform, to launch the first GitHub Center of Excellence (CoE). This collaboration aims to accelerate software production by partnering with Global System Integrators (GSIs).
NLC India
NLCIL’s board has approved plans to raise up to $600 million through External Commercial Borrowings (ECB) and has granted approval for an investment of up to ₹994.50 crore in its wholly-owned subsidiary, NLC India Renewables, to meet business requirements.
What do you think about the strategic moves by these companies? Do you foresee significant impacts on their stock prices? Share your thoughts and join the conversation in the comments below!
