Indus Financial News

MUMBAI, NEW DELHI : Indus Towers expects Vodafone Idea to clear all its pending dues in one go, the top executive of the tower provider said on Tuesday, a day after the country's third-largest telecom operator said that the proceeds of the ₹18,000-crore follow-on public offer (FPO) would not be used for paying vendor or government dues. "We are pleased to see the positive developments on Vodafone Idea’s fundraise and expect that VI will clear over-dues of Indus in its entirety. We remain committed to supporting all our customers in their growth plans and are best positioned to do the same for VI," Indus Towers' managing director and chief executive Prachur Sah told Mint in response to queries.

Indus Towers, India's leading tower company, could post 8% compound annual growth rate in operating income through FY24-27 if key customer Vodafone Idea (Vi) closes its much-awaited ₹45,000 crore fundraise on schedule and invests in network expansion, analysts said. Cash-strapped Vi said it will open a sale of new shares on April 18 and close on April 22 to raise up to ₹18,000 crore. This will be closely followed by a ₹25,000-crore fundraising via debt. The company has already approved raising ₹2,075 crore from a promoter entity through a preferential share issue. "...we are enthused by progress on the (Vi) fund raise and believe this should drive further upside for Indus Towers," Citi Research said in a recent report.

NEW DELHI : Indian telecom operators Reliance Jio, Bharti Airtel and Vodafone Idea are expected to report largely steady revenues and profits for the quarter ended 31 March, but the first half of the current fiscal year will see them put up a better show, buoyed by likely tariff hikes. Indus Towers, a leading telecom infrastructure provider, is expected to report relatively better numbers, boosted likely by part-payment of its dues by Vodafone Idea.

Dividend Stocks: Shares of several companies such as Goodluck India Ltd, Sun TV Network, DCM Shriram Industries, among others will trade ex-dividend in the coming week, starting from Monday, April 8. Along with these, some other firms will also trade ex-split, ex-rights, and ex-bonus, according to data on the BSE.

General Atlantic, the US based private equity major has acquired Ujala Cygnus, a leading hospital chain in Northern India with a network of 21 hospitals serving Tier-II and Tier-III cities, said a press statement. Though the financial details are not disclosed, the deal has valued the chain at Rs1600 crore, according to sources. General Atlantic is set to acquire about 70% stake in Ujala Cygnus Healthcare Services, valuing the chain at about Rs1600 crore, ET reported in December 2023.

Sensex jumped 363 points to settle at 74,014 and the Nifty climbed 135 points to 22,462. Stocks that were in focus included names like Indus Towers, which rose 8.26%, HAL, which jumped 2.2%, and Prestige Estates, whose shares gained 7% on Monday.

At the time Egypt’s pyramids were being constructed, one of the cradles of global civilization emerged the Indus Valley around the borders of Pakistan and India. Its grid-planned cities produced sewerage networks, delicate artworks and an undeciphered writing system. Then, a 900-year drought [is thought to have] emptied its urban areas and sent its population back to a simpler, poorer village life on the plains of the River Ganga.

Bambrew, a cleantech startup operating in the sustainable packaging space, on Friday said it has raised Rs 60 crore (about $7 million) in Series A funding round led by Blume Ventures. The funding was a mix of equity and debt. The equity element totalled to about Rs 30 crore, a company spokesperson told ET.

Cochin Shipyard's stock value has surged significantly. Trendlyne data indicates that in a single year, the share price of Cochin Shipyard increased by almost 298% from the last trading price of ₹902.45. Cochin Shipyard's chief business is building new ships as well as repairing and refitting old ones.

Tinkle and Amar Chitra Katha though the current generation of readers has grown up to have more eclectic tastes. My 13-year-old daughter, like many of her peers, is a huge fan of manga. However, there is an equal fascination for work by independent Indian comic book creators such as Unbearable Comics, Holy Cow Entertainment and Meta Desi Comics, which have garnered a loyal following.

Indian stock market today: A total of 8 stocks have been banned for trade on Thursday, March 21, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Indian stock market today: A total of 9 stocks have been banned for trade on Wednesday, March 20, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

₹1,440 crore from optionally convertible debentures, or OCDs, to ATC Telecom Infrastructure, the loss-making carrier told the Bombay Stock Exchange on Tuesday. ATC will hold 2.9% of the revised shareholding after conversion, the company told Mint. “As per the terms of the OCDs, on March 18, 2024, ATC has requested VIL for conversion of 14,400 OCDs amounting to ₹1,440 crore into 1.44 billion fully paid-up equity shares of face value of ₹10 each.

Raw wrestling held Monday night, DIY defeated The Creed Brothers via pinfall. In yet another match, Candice LeRae & Indi Hartwell thrashed Katana Chance & Kayden Carter via submission, 'Sportskeeda' reports. Similarly, Ricochet beat Dominik Mysterio via pinfall, while Awesome Truth defeated Indus Sher via pinfall. In other fights held in the same night, New Day defeated Alpha Academy via pinfall while Becky Lynch thrashed Nia Jax.

investment decision. BASIC FACTS DATE OF LAUNCH 7 SEPTEMBER 2010 CATEGORY

Mint report. In a statement, IAMAI advised Google not to delist any apps from Google Play.

The Nifty future closed positive with gains of 0.28% at 21983 levels on Thursday. India VIX was down by 4.65% from 16.33 to 15.57 levels. Volatility cooled off after steaming in the entire week and paved the way for the bulls in the market.

Indian stock market today: A total of 2 stocks have been banned for trade on Thursday, February 29, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Tata Consultancy Services Ltd.(up 1.16 per cent), Infosys Ltd.(up 1.03 per cent), MphasiS Ltd.(up 0.84 per cent), Tech Mahindra Ltd.(up 0.65 per cent) and HCL Technologies Ltd.(up 0.21 per cent) were among the top gainers.

Indian stock market today: A total of 5 stocks have been banned for trade on Wednesday, February 28, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Ravi River to Pakistan. Situated on the Punjab-Jammu and Kashmir border, this project will help Jammu and Kashmir region and Punjab to benefit as previously the water was destined for Pakistan. Some media outlets in Pakistan termed it as 'Water Terrorism' despite Indus Waters Treaty giving India exclusive rights over the water usage of the Ravi river. Pakistantoday.com.pk reported the news under the headline of "‘Water terrorism’ intensifies as India stops Ravi River water to Pakistan". The Dawn reported that a rally was organized in Lahore, calling for a review of the Indus Waters Treaty between Pakistan and India and restoration of the natural flow of rivers, including the Ravi. They urged the government to prevent toxic sewage from draining into the Ravi and other abandoned rivers. A Samma.tv report accused India of India persuing 'water terrorism' agenda. (Also read: India completely stops Ravi river water flow to Pakistan. Historical context and significance)