Tue, Nov 26, 2024 10:53 AM
Krystal Integrated shares rise 4% on securing Rs 106-crore deal
A Flip by Avya Verma
Shares of Route Mobile surged over 3 percent to Rs 1,460 apiece on November 26, the most in 15 weeks amid heavy volumes. Despite today's rise, the stock has declined over 9 percent so far this year, as compared to benchmark Nifty 50's 10 percent surge. So far on November 26, around 58,000 equity shares exchanged on both BSE and NSE, as against one-month average of 97,000 equity shares.
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The US International Development Finance Corporation (DFC), which last year committed a half-a-billion-dollar loan to the Adani group for developing a port in Sri Lanka, has not yet disbursed any money to the Indian conglomerate. “The project has not reached financial close or signed a loan agreement,” a DFC official said in response to Mint’s queries.
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Ratings agency Fitch has taken negative rating actions on several Adani Group entities and bonds, putting them on watch for a possible downgrade following the indictment of some of the firm's key executives in the U.S. on bribery charges. Adani Ports, North Queensland Export Terminal, and Mumbai International Airport are among those under review for possible downgrades.
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