Zomato grey market premium hits 20%, Info Edge slashes OFS by half

Zomato, a food delivery aggregator, has reportedly hit 20% in the grey market according to sources trading in unlisted shares. This comes in light of investor excitement after SEBI approved Zomato’s IPO plans to raise Rs 8,250 crores. Info Edge, a key shareholder, has reduced its share of Offer For Sale (OFS) in half from Rs 750 crore to Rs 375 crore. Market speculation suggests that the price band of the IPO could be anywhere between Rs 70 to Rs 72 per share. 

Read more here.

HealthifyMe acquires Under45, launches vaccination slot booking

HealthifyMe has acquired Under45, a platform developed by Chennai-based techie Berty Thomas. Under45 is a platform that sends vaccination slot alerts to users opting for the service via the Telegram texting app and covers 4.1 million subscribers across 700+ channels on Telegram. Berty Thomas, the brain behind Under45, shall join HealthifyMe as an Associate Director. HealthifyMe had earlier launched vaccinateme.in, a site that helped over 80 lakh people find vaccination slots. Suchdeep Juneja (who developed mhVaccineTracker) and Chandraaditya Putuveru (who launched the Twitter bot BloreVaccine) have also onboarded the project. 

Read more here.

GRSE bags $1.8 million order for patrol boats from Bangladesh

Kolkata-based Miniratna PSU Garden Reach Shipbuilders and Engineers (GRSE), an NSE-listed company, has received an order to manufacture patrol boats for the Bangladesh Department of Fisheries. These boats will be used for surveillance to curb illegal fishing and also be used for rescue operations. The order is worth $1.8 million (~13.42 crore).

Read more here.

NTPC to buy hydrogen buses for Delhi and Ladakh

NTPC Vidyut Vyapar Nigam Ltd (a subsidiary of NTPC) has invited bids to buy hydrogen buses for Delhi and Ladakh. The company has already placed orders for 15 hydrogen cell buses with Tata Motors last week. NTPC Renewable Energy (another subsidiary of NTPC) will provide the buses with green hydrogen.

Read more here.

Ashok Leyland to ramp up production in July.

Automaker Ashok Leyland has said in an exchange filing that it is going to increase its production capacity in the coming months as demand eases. The company had intimated the closure of plants in April and May amidst the second wave of COVID-19. “The overall market demand in July’21 is better than in June’21. Consequently, our plants will be working for more number of days in July compared to May and June, ranging from 6 to 25 days across various plant locations,” said the automaker in an exchange filing. The stocks of Ashok Leyland closed down at -2.04% on the same day. 

Read more here. 

Airline stocks up as the aviation ministry increases flight capacity.

The Ministry of Civil Aviation has increased the flight capacity allowance of passengers from 50% to 65% in an official intimation. The ministry had cut down the capacity allowance from the earlier 80% to 50% in May 2021 in wake of the second wave of COVID-19 in India. Shares of Interglobe Aviation (IndiGo), Spicejet, Global Vectra Helicorp, and TAAL Enterprises surged between 2-4% the same day.

Read more here.

Sugarcane production in Maharashtra could increase by more than 200 lakh tonnes: NFCSF Chief

Jayprakash Dandegavkar, the president of the National Federation of Cooperative Sugar Factories (NFCSF), has said that Maharashtra’s sugarcane production would increase by more than 237 lakh tonnes this year. He also stated that sugar mills might have to work overtime to crush the produce by over half a month. Last year, Maharashtra had produced close to 1,012 lakh tonnes of sugarcane.

Read more here.

Maruti Suzuki Increases Production 4x in June from the previous month.

Maruti Suzuki’s production for the month of June is 1,65,576 units. This is a four-fold increase from the 40,924 units that Maruti Suzuki produced in May 2021. The company has announced a partial shutdown of factories in the month of May. 

Read more here.

Tata Motors shares dip sharply after pressure over JLR profit warning over chip shortage

The shares of Tata Motors dipped 8% after its subsidiary JLR issued a warning over negative profit numbers for September 2021 owing to chip shortage that could impact production. There is currently a global shortage of integrated circuits (also known as semiconductor chips) that are vital in manufacturing control systems of a car. To know more about the global chip crisis, click here.

Read more here.

Godawari Power turns debt-free

Godawari Power and Ispat Limited (GPIL) has officially turned debt-free after it paid its outstanding debt of Rs 457 crore. The company owed Rs 1,369 crore in standalone long-term debt, which was to be repaid by FY 2032. Due to an improvement in financial performance, GPIL was able to fully repay its outstanding debt from internal accruals.

Read more here.

Latest

Advertisement