Thursday, October 15
A promoter of Gravita India on Friday divested a 3.4 per cent stake in the company for Rs 498 crore through an open market transaction. According to the bulk deal data available on the NSE, Rajat Agarwal offloaded 25 lakh shares, representing a 3.38 per cent stake in Gravita India. The shares were sold at an average price of Rs 1,991.52 apiece, taking the transaction value to Rs 497.88 crore. Following the latest transaction, Rajat Agarwal's holding in Gravita India slipped to 32.39 per cent from 35.77 per cent. Meanwhile, Motilal Oswal Asset Management Co picked up 7.33 lakh shares at an average price of Rs 1,991 per piece. This took the deal value to Rs 145.98 crore. Details of the other buyers of Gravita India's shares could not be identified on the National Stock Exchange (NSE).
ET Intelligence Group: Aegis Vopak Terminals (AVTL), which operates liquid and gas storage tank terminals across major ports in India, plans to raise ₹2,800 crore through fresh equity to repay debt and to fund capital expenditure. AVTL is a joint venture between Aegis Logistics, which owns 50.1%, and the Netherlands-based Vopak, which holds 47.4%. After the IPO, the promoter group holding will fall to nearly 87% from the current 97.4%. A higher interest outgo impacted net profit of the company in the past. This will change for the better once it repays debt by using the IPO proceeds worth ₹2,015.9 crore. The utilisation of the existing capacities is likely to improve as the number of customers increases. In addition, it is in the process of expanding terminal capacity across ports, whi
A federal judge in California has blocked the Trump administration from revoking the legal status of foreign students studying and working in the United States. On Thursday, US District Judge Jeffrey White in Oakland issued a nationwide order that prevents the administration from cancelling international students' status without an individual review and following federal regulations.Earlier this year, the administration removed thousands of foreign students from the Student and Exchange Visitor Information System (SEVIS) database, citing a crackdown on students with criminal records. This removal means affected students lose their legal status, putting them at risk of arrest, detention, or deportation.Separately, the Trump administration notified Harvard University that it was revoking the
