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Buzzing Stocks | L&T Finance Holdings, Vedanta, Wipro others in news today

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Buzzing Stocks | L&T Finance Holdings, Vedanta, Wipro others in news today

L&T Finance Holdings: Citigroup sold 4.88% stake. Citigroup Global Markets Mauritius and CBNA London sold a 4.88% stake in the company in an open market transaction on February 21. Their participation rate is now 3.87% compared to 8.75% previously. The stock is trading at a 29% discount to its price a year ago, and is down 7.7% over the past month.
Vedanta Ltd: A third interim dividend will be considered. The company’s board of directors will review and approve the third interim dividend for fiscal year 2021-22 on March 2, 2022. The record date for determining that shareholders are entitled to the aforementioned dividends, if declared, will be Thursday, March 10, 2022. The stock is up 69% over the past year. It has traded up 9% in the past month.
Vodafone Plc: Vodafone Plc sells stake in Indus Towers. Vodafone Plc will sell a 2.4% stake in Indus Towers tomorrow in a block transaction of 63.6 million shares worth $200 million. Morgan Stanley has been appointed as the broker for the deal, offering a range of 227-231 rupees per share, about a 10% discount to the current market price.
Sanofi India: Announced special dividend. A final dividend of Rs 181 per share for the year ended December 2021 has been approved by the board. The company has also declared a special dividend of Rs 309 per share this year. The stock has lost 8.6% over the past year and has been unchanged for a month.
Forbes Corporation: Term Sheet Approving the Sale of Shares. The company’s board of directors has approved a binding term sheet for the sale of its entire interest in subsidiary Forbes Facility Services to SILA Solutions for Rs 420 crore. In addition, the joint venture with Sterling Investment Corporation GS Enterprises on Shapoorji Pallonji Forbes Shipping (SPFSL) will be terminated but will continue to hold 25% of SPFSL and preferred shares. The stock is down 69% in the past year and 93% in the past month.
Wipro: Partner of o9 Solutions. The company has joined o9 Solutions’ global partner network. It will help companies quickly transform complex supply chains and remove inefficiencies from long-term supply chain solutions by digitizing their integrated planning and operations management functions. The stock has risen 36% in the past year, but is down 6% in the past month.
Piramal Enterprise: Fundraising for NCDs. The company’s board will consider raising funds through the issuance of non-convertible bonds of up to Rs 1 billion, with an option to maintain the over-subscription of up to Rs 400 crore on February 28. This will bring the total private financing through NCDs to Rs 500 crore.

Complete News Source : Money Control

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Pahalgam Attack

Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

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Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

Due to a lengthier path, Lufthansa Flight LH760 from Frankfurt to New Delhi had to fly for over an hour longer on Sunday. Major foreign airlines, including Air France and Lufthansa, are avoiding Pakistani airspace as tensions between India and Pakistan remain high after a deadly terrorist assault in Pahalgam, Jammu and Kashmir, according to airlines and flight trackers on.

Monday. Air France agreed, stating that it had decided to halt flights over Pakistan due to the “recent evolution of tensions” between the two South Asian foes. “The airline has decided to suspend overflight of Pakistan until further notice,” Air France said in a statement, referring to the “recent evolution of tensions” between India and Pakistan The airline currently changing.

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In the wake of the recent Pachigam terror attack, a significant shift in international aviation routes has occurred. Following an uptick in security concerns and rising geopolitical tensions between India and Pakistan, several international airlines have opted to avoid Pakistani airspace, rerouting their flights to ensure passenger safety. The decision comes nations.

The Pahagam Terror Attack: A Trigger for Renewed Tensions

On the night of the attack in Pachigam, a popular tourist destination in Jammu and Kashmir, militants carried out a series of strikes on civilian and military targets. The assault left a number of casualties, both military personnel and civilians, sparking widespread condemnation. The attack, attributed to militant groups operating from across the border.

Airlines’ Concerns Over Safety and Security

In response to the escalating threat in the region, several international airlines, including prominent carriers from Europe, the Middle East, and Asia, have started to reroute their flights to avoid crossing Pakistani airspace. These precautionary measures, while not unprecedented, are a direct reflection of the security situation that has worsened in the wake of the attack.

Airlines typically rely on international aviation corridors for the fastest and most efficient flight paths, and Pakistani airspace has historically been a critical component of many international routes connecting Europe and Asia. However, in light of the heightened risk of military conflict, commercial carriers have begun to take proactive steps to avoid the region.

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European carriers, such as Lufthansa and Air France, have adjusted their flight paths over the past few weeks, choosing to bypass Pakistan altogether. Similarly, Middle Eastern giants, like Emirates and Qatar Airways, have rerouted certain flights to avoid potential risks associated with flying in close proximity to the disputed borders. These changes have led to longer flight.

The International Air Transport Association (IATA) has noted that these changes, while necessary, come with considerable logistical and financial consequences. Airlines must navigate alternative routes, which may lead to higher fuel consumption and longer durations of travel. Nevertheless, passenger safety is the highest priority, and the industry remains.

Diplomatic Implications and Regional Stability

The rerouting of international flights has far-reaching implications, not only in terms of aviation logistics but also for regional diplomacy. The decision to avoid Pakistani airspace can be seen as a subtle but clear indication of the international community’s concerns regarding with the growing uncertainty in the region, underscores the volatile nature of South the security situation between India and Pakistan. Such moves may further isolate Pakistan.

The Future of Aviation in the Region

As the situation unfolds, the aviation industry is closely monitoring developments. For international carriers, navigating the delicate balance between commercial operations and national security concerns is no small task. In the coming weeks, further changes in flight patterns are expected, depending on how the diplomatic and military tensions between India.

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