GVK Power & Infrastructure Ltd. on Friday said its step-down subsidiary GVK Airport Holdings will acquire 12 crore shares of Mumbai International Airport Ltd. (MIAL) from ACSA Global for ₹77 each. On completion of the 10% acquisition from ACSA, along with the earlier acquisition of 13.5% from Bidvest, the shareholding of the GVK Group in MIAL will increase to 74% from the existing 50.5%, GVK Power & Infrastructure said.
Buy the rumour, sell the news, goes the old adage in stock markets. On Thursday, the stock market moved in line with the adage with the Sensex surging over 1,000 points in the morning session to breach the 40,000-mark for the first time ever as initial trends showed the BJP getting a strong majority. However, […]
India’s GDP grew at 5.8% in the January-March 2019 quarter, dragging down the full year growth to a five-year low of 6.8%. The unemployment rate in the country rose to a 45-year high of 6.1% in 2017-18, as per official data released on the first day of the second term of the Modi government. Addressing […]
What is Net Asset Value? The Net Asset Value (NAV) is typically used in the context of mutual funds and exchange traded funds. NAVs offer a transparent way to arrive at a value for a fund. The value to the investor is arrived at on a per-unit basis. Why is it necessary? When you invest […]