Monday, November 25
Shares of ITI Ltd today rallied 9% to an intraday high of Rs 291 on the BSE after the company announced that it has emerged as the L1 bidder for a Rs 3,022 crore BharatNet project for Middle Mile Network.The company has emerged as the lowest bidder for the project in Himachal Pradesh, West Bengal and Andaman & Nicobar Islands.“ITI Limited, the country’s first PSU post-independence and a premier telecom manufacturing company with its consortium partner has emerged as L1 in BharatNet Phase-3 Project in the states of Himachal Pradesh for Package No. 8, and in West Bengal, and Andaman & Nicobar Islands for Package No. 9 with total order value of Rs. 3,022 Crores,” said the company in a filing to the exchanges.ITI Limited-led Consortium has succeeded in these two packages out of 1
Nobody besides the incumbent head of the World Trade Organization Ngozi Okonjo-Iweala has thrown in their hat to lead the Geneva-based global commerce watchdog, two sources close to the process told Reuters, with nominations closing at midnight. The lack of competition will come as little surprise to WTO observers who are bracing for a messy, recriminatory period of tit-for-tat tariffs under U.S. President-elect Donald Trump, who takes office in January. During his first term in 2017-21, Trump paralysed the WTO's top adjudications court by blocking judge appointments - a status that continues today - and announced tariffs on U.S. imports of steel and aluminum. This time, he has warned that he would slap a 10% tariff on all imports. "Those who are likely to be part of the incoming administr
Tata-backed Indian Hotels Company (IHCL) saw its stock jump nearly 6%, reaching a 52-week high of Rs 722 in Friday’s trade on the BSE. This surge followed the company’s announcement of a profit of Rs 583 crore for the second quarter of the fiscal year, marking a 226% year-on-year (YoY) increase. IHCL also reported revenues of Rs 1,826 crore for the quarter, a 27.4% YoY rise.The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 501.27 crore, compared to Rs 354.78 crore in the same period last year, reflecting a growth of 41.3%.IHCL will also take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement, MD and CEO Puneet Chhatwal said in a statement.On a half-year basis, the company repo
Bengaluru-based Zinka Logistics Solutions, the country’s leading platform for truck operators has announced a price band of Rs 259-273 for its upcoming initial public offering (IPO), which will open for subscription on November 13.The offer comprises a fresh issue of shares amounting to Rs 550 crore and an offer for sale (OFS) by the selling shareholders of up to 2,06,85,800 shares of the company, which are valued at Rs 564.72 crore at the upper limit of the price band.At this upper limit of the price band, the total size of the IPO stands at Rs 1,114.72 crore.The issue will open for the anchor investors on November 12, a day before it opens for the retail investors and will be available till November 18. Bids can be made for a minimum quantity of 54 shares and in multiples of 54 thereof
