Ajay Singh-promoted SpiceJet will raise Rs 2,500 crore through QIP and hive off its cargo business as a separate entity. The budget airline on Wednesday reported a Q4 FY 21 loss of Rs 235 crore, down from a loss of Rs 807 crore in same period in previous fiscal.
We raise our FY22E/FY23E ebitda estimate by 43%/27%, factoring in higher aluminum prices, which should support strong cash flows and a good dividend payout. Maintain 'buy'.
The company’s net profit fell 16.5% to Rs 11,246 crore year-on-year on lower production and a sharper fall in its realisations on oil and gas sales.
The project, with a capacity of 387 thousand metric tonne per annum (TMTPA) will be located in the company’s Panipat refinery and petrochemical complex.
According to reports, Zomato and Tiger Global will collectively infuse about $120 million into Grofers with IPO-bound Zomato bringing in the larger chunk of the capital. The investment is expected to value Grofers at about $1 billion, giving it the status of a unicorn, the reports said.
For the country as a whole, cumulative rainfall during this year’s southwest monsoon season’s rainfall until June 30 has been about 10% above the Long Period Average with actual rainfall recorded at 18.29 cm against normal of 16.69 cm, IMD said in a statement.
Indian opener Shubman Gill could miss the entire five-Test series against England owing to an undisclosed internal injury, which might lead to standby Abhimanyu Easwaran making the main squad. It is still not clear whether Gill's condition warrants a surgery ahead of the series starting August 4.