Top gainer: ONGC 294 ▲ 8 (+3.0%)
Top loser: Eicher Motors 4,871 ▼ 91 (-1.8%)
SpiceJet shares jump up to 10% after raising ₹3,000 crore via QIP
Shares of domestic carrier SpiceJet jumped 10% on Monday after the airline said it raised ₹3,000 crore via a qualified institutional placement (QIP). The stock hit an intraday high of ₹72.8 apiece, up 10%, on the BSE. However, the scrip pared some gains and was trading 4.8% higher at ₹69.3 a unit at 12:10 pm. The QIP, which was open from September 16 to September 18, got robust response from qualified investors and was significantly oversubscribed, reflecting strong confidence in the growth prospects of the company, SpiceJet said in a statement. Read more
Vodafone Idea shares jump 14% after Rs 30,000 crore deal with Nokia, Ericsson and Samsung
Shares of Vodafone Idea jumped 14% on Monday after the firm awarded contracts worth about ₹30,000 crore to Nokia, Ericsson and Samsung for supply of 4G and 5G network equipment for three years. The stock surged 11.73% to ₹11.71 on the BSE. At the NSE, it soared 14% to ₹11.94. It is the largest deal awarded by any Indian telecom operator during this year. The deal also marks the first step towards the roll-out of the company’s three-year capex (capital expenditure) plan of about $6.6 billion or ₹55,000 crore announced earlier. Read more
ONGC signs addendum for non-associated natural gas reservoirs of the ACG field in Azerbaijan
Oil and Natural Gas Corporation (ONGC) announced that its wholly-owned subsidiary, ONGC Videsh has signed an addendum to the existing Production Sharing Agreement (PSA) with the State Oil Company of the Azerbaijan (SOCAR), bp, MOL, INPEX, Equinor, ExxonMobil, TPAO, and ITOCHU. The PSA pertains to the ACG field in the Azerbaijan sector of the Caspian Sea. Following the announcement, shares of ONGC were trading higher by 1% at ₹289.45 per share. The company stated that the addendum amends the ACG PSA which enables the parties to further exploration, appraisal, development, and production from the non-associated natural gas (NAG) reservoirs of the ACG field. The addendum is effective till the end of the current ACG PSA in 2049. Read more