The United States demonstrates one of the world’s largest disparities between its outbound visa-free privileges and inbound visa requirements. (AI image) It’s a historic low for the US passport! For the first time since Henley Passport Index started releasing passport rankings almost 20 years ago, the US passport has dropped out of the top 10 … Read more
Ministry of External Affairs (MEA) has banned the company from participating in future tenders of the ministry and India Mission abroad for two years. The order has been issued on the account of allegations including court cases and complaints of various applicants. The order will not affect the existing contracts, which will continue as per … Read more
The Company is acquiring 49% stake into Big Charter Pvt Ltd; a prominent player in India’s charter aviation sector. The Indian charter aviation industry, currently valued at approximately USD 650.5 mn, is projected to grow to USD 1.14 bn by 2033 In FY 2023-24, Big Charter generated revenues of Rs 128.75 cr (approx USD 15.5 mn) … Read more
The Company has been adjudged as the highest bidder for Developing, Operating and Maintaining of Wayside Amenities in South Zone on Bengaluru Chennai Expressway Corridor (Phase II) Section on lease basis. The contract is awarded by National Highways Logistics Management Limited – a 100% owned SPV of National NHAI, Under Ministry of Road Transport and … Read more
Nishant Pitti, one of the three promoters has decided to sell his balance 14.21% stake in the Company. He is expected to sell it @15.6/ share i.e., Rs 780 cr via block deal. The Current trading price is Rs 17/ share. Various Institutional Investors such as CRAFT Emerging Market Fund PCC – Citadel Capital Fund, … Read more
With a 40 per cent rise in cruise passengers in FY 2023-24, the Mormugao Port Authority (MPA) expects to grow it further with the construction of the International and Domestic Cruise Terminal in Goa by March 2025, an official said. The development of the International and Domestic Cruise Terminal and allied facilities is expected to … Read more
National Financial Reporting Authority (NFRA) has directed Mahindra Holidays to “thoroughly and proactively” review its accounting policies and practices in respect of segment reporting. What’s the background and what exactly is this all about? NFRA order is passed in the wake of Delhi High Court’s order of January 18, 2023 following a writ filed by … Read more
Mahindra Holidays and Resorts has shared the following – The company had 2.8 lakh members as of December 2022. It will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 cr At present, the company has 4,900 keys inventory across 119 properties; 60 per cent of … Read more