Adani Group checks into Mumbai Airport by acquiring 23.5% stake; on way to 74% ownership of MIAL
The Adani Group has formally checked into Mumbai International Airport Ltd. by acquiring a 23.5 %stake in it held by two foreign firms ACSA and Bid Service Division Mauritius Ltd (Bidvest) Rs 1685.2 cr.
Adani Group is going to acquire a 74% stake in MIAL, by getting the right to develop the upcoming Navi Mumbai Airport which includes the entire 50.5%stake of outgoing promoter GVK Group
Adani had taken over the Mangaluru, Lucknow, and Ahmedabad airports and is planning to take over Jaipur, Guwahati, and Thiruvananthapuram airports by this July. It will develop, manage and operate these six airports for the next 50 years. Adani Group will be the biggest private airport operator in India in terms of the number of airports handled. Suggested to keep a check on Adani Port share price.
Tesla buys $1.5 billion in Bitcoin, plans to accept it as payment
To bring in more flexibility to further diversify and maximize return on our cash. Bitcoin will give Tesla liquidity in the cryptocurrency once it starts accepting it for payments.
This has briefly pushed the price of a cryptocurrency by 20%.
Government to include 4-day week ESIC facilities in Final rules
The labour ministry will give flexibility to employers to enable four-days a week of work with a ceiling of 48 hours in a week in the final rules that would be notified soon. However, employers will have to give three days’ of paid leaves to such workers and 12 hours a day of work in such cases will be after the consent of the employee. Currently, employers have to take the consent of the government to reduce the number of workdays in a week which has been fixed at 48 hours for a workweek of six days and eight hours of work each day.
Ministry of Defence, Bharat Electronics Ltd sign a contract worth over Rs.1000 crore to procure morder radio system.
The Armed forces are in need of transition from the single purpose radio of the past to more flexible Software Defined Radios (SDRs) to serve most of their wireless communication needs. These SDRs will be backwards compatible with existing Indian radios. Different Service groups require different form factor radios for specific platforms and waveforms/applications. India’s Ministry of Defence (MoD) and Defence Public Sector Undertaking (DPSU) Bharat Electronics Limited (BEL) have signed a contract for procurement of Software Defined Radio Tactical (SDR-Tac) worth over ₹1,000 crores.
Go Air revives IPO Plans, Wadia Group may dilute 30% stake in the Airline
Go Air is planning to raise Rs 3,000 crore in an IPO and has appointed Citigroup, ICICI Securities, and Morgan Stanley as the bankers. The Wadia Group, which operates businesses including Bombay Burmah, Bombay Dyeing, Britannia, National Peroxide, and Bombay Realty, will likely dilute 30% of its stake in GoAir. The airline operates more than 300 daily flights and has an 8.6% share of domestic passenger traffic. The airline flies to 36 destinations, including 27 domestic cities. The IPO is for a long term raising fund and reduces the debt.
What you can look at in the near future?
The aviation sector in India will witness consolidation in 2021 as the government expects to complete the sale of Air India in FY22 and Jet Airways’ new owners are in the process of re-starting its operations. Meanwhile, the Tata Group invested $37.7 million to buy an additional 32.7% stake in AirAsia India.
It will be worth seeing the kind of response that GoAir will experience. the industry structure is going to be a key theme for investors this year since the potential change in industry structure could lead to a significant change in the competition.
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