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Malaysia Airports Holding cancels Hyd airport stake sale pact with GMR
Posted on 3rd January 2019
Malaysia Airports Holding Berhad has said it terminated the Share Purchasing Agreement (SPA) with the GMR Group for selling its 11 per cent stake to the latter as the Indian infra major did not fulfil the obligations as per the agreement before December 31.

GMR Infrastructure Limited in February last year said its subsidiary GMR Airports Limited entered into an agreement with Malaysia Airports Holding Berhad and its subsidiary to acquire 11 per cent of the stake that the Malaysian company is holding in GMR Hyderabad International Airport, for $76 million.

"The Board of Directors of MAHB wishes to announce that the SPA has been automatically terminated due to failure of the purchaser to complete their obligation in accordance with the terms of the SPA by 31 December 2018. Therefore, MAHB and MAHB (Mauritius) Private Limited shall remain as shareholders of GHIAL accordingly," MAHB said in a regulatory filing Wednesday.

GHIAL, a special purpose vehicle manages Rajiv Gandhi International Airport here.

GAL currently holds 63 per cent stake and the remaining in the company is held by Airports Authority of India (13 per cent) and the Telangana government (11 per cent).

GMR Infrastructure shares were trading at Rs 16 apiece on the BSE at 10 a.m.

Related Companies: GMR Group   

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Sensex plunges over 550 points, Nifty below 11,500
Posted on 19th July 2019
Mumbai: Extending losses for the second consecutive session, market benchmark BSE Sensex plunged 560 points Friday after the government thwarted hopes of a tax relief for FPIs.

Led by a sell-off in auto and banking stocks, the 30-share index cracked 560.45 points or 1.44 per cent to settle at 38,337.01. It hit an intra-day low of 38,271.35 and a high of 39,058.73, swinging 787 points. Similarly, the broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25.


WhatsApp could soon change your chat experience with new voice message feature
Posted on 19th July 2019
WhatsApp is reportedly adding granular improvements to its voice message feature on iOS. Currently, when you get a notification for a voice message, you have to open the app to be able to listen to it. Unlike the texts and photos, the voice messages cannot be played from the notification shade. WhatsApp is now testing preview for voice messages in the notification panel on iOS.

Vodafone Idea picks Bank of America, Morgan Stanley for ₹130 billion fiber assets sale
Posted on 19th July 2019
Vodafone Idea Ltd. has hired Bank of America Corp. and Morgan Stanley to help sell its fiber assets as India’s largest mobile carrier by users seeks to bolster its finances, people familiar with the matter said.

The bankers will initiate discussions with potential buyers for the fiber assets, which could be valued at as much as ₹130 billion ($1.9 billion), the people said, asking not be identified as the talks are private.


Sri Lanka signs agreement with India to upgrade railway lines
Posted on 19th July 2019
Sri Lanka has signed an agreement with India to upgrade tracks in a key railway segment connecting the north and south at a cost of $ 91.26 million.

This is the first time in 100 years that the 130 km-long-tracks, running from Maho town in the North Western Province to Omanthai in the Northern Province, are being upgraded.


L&T bags ‘significant’ orders from Damodar Valley Corporation
Posted on 19th July 2019
Infrastructure company Larsen & Toubro Friday said its power business has bagged “significant” orders from Damodar Valley Corporation (DVC) to set up flue gas desulphurisation (FGD) systems in three of its power plants.

DVC’s three plants where FGD systems will be set up are Durgapur Steel Thermal Power Station (2×500 MW), Mejia Thermal Power Station (2×500 MW) and Raghunathpur Thermal Power Station (2×600 MW) – in West Bengal, Larsen & Toubro (L&T) said in a regulatory filing.


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