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Ravi Infrabuild Projects Limited plans to raise Rs 1,100 crore through an IPO. The company has filed papers with SEBI for approval. The IPO consists of a fresh issue of equity shares. Funds will be used for equipment purchase and debt payment. The construction company focuses on roads, highways, and bridges. Their order book stands at Rs 3,092 crore.
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NASDAQ-listed Elbit Systems rose 4.7% over two days, from $400.00 on May 6 to $418.97 on May 8, following Indias initiation of "Operation Sindoor", a coordinated cross-border operation involving missiles and loitering munitions.
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Hotel stocks plummeted, with Indian Hotels Company leading the decline at 6.8%, amid escalating India-Pakistan tensions following drone strikes by Pakistan. India responded with counterstrikes and blackouts in border districts. These events follow India's precision missile strike on terror camps and continued ceasefire violations by Pakistan, further heightening regional instability.
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