Jaypee Group shares tank after Reliance Power calls off hydro deal
Posted on 25th September 2014 |
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| Shares Jaypee Group companies such as Jaiprakash Associates, Jaiprakash Power Ventures Ltd (JPVL) and Jaypee Infratech have plunged by up to 24% after Reliance Power called off a deal with Jaiprakash Power Ventures Ltd (JPVL) to buy the JVPL’s entire hydel power portfolio. “Due to prevailing regulatory uncertainties and tariff issues, which impact valuations, Reliance Power and JPVL have terminated discussions regarding Reliance Power’s acquisition of JPVL’s hydro portfolio of three projects, with an aggregate capacity of 1,791 mega watts, Reliance Power said in a statement. JVPL said that for reasons not attribute to any regulatory uncertainties but due to difference of commercial aspects, discussion with Anil Dhirubhai Ambani Group (ADAG) has been called off. In July, R-Power had agreed to buy the hydropower assets of JP Ventures. Among the individual stocks, Jaiprakash Associates has tanked 24% to Rs 24.05, also its 52-week low in intra-day trade on BSE. JPVL has plunged 18% to Rs 11.20, while Jaypee Infratech dipped 16% to Rs 19.45 on BSE. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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