Sensex Today Live: Chalet Hotels shares surged more than 3% today after the company announced plans to raise ₹1,200 crores through a Qualified Institutional Placement (QIP). The board of directors of Chalet Hotels approved the fundraising plan on March 27, setting the floor price for the QIP at ₹780.76 per equity share. The company also has the option to offer a discount of up to 5% on this price, with the final issue price set at ₹755 per share.
This move by Chalet Hotels comes as part of its efforts to strengthen its financial position and support future growth initiatives. The market responded positively to the news, with the stock price rising in early trading today.
In other market news, Adani Enterprises’ copper unit in Mundra has commenced operations, with the company investing nearly $1.2 billion in setting up a copper smelter with a capacity of 0.5 MTPA in the first phase. The second phase of the project will add a similar capacity, making Kutch Copper the world’s largest single-location custom smelter with 1 MTPA capacity.
Additionally, Larsen & Toubro’s subsidiary, L&T GeoStructure, has secured multiple orders worth between ₹1,000 to ₹2,500 crores from various projects across India. The company continues to strengthen its order book and expand its presence in key infrastructure sectors.
Overall, the market sentiment remains positive, with benchmark indices climbing in early trading today. The Sensex was up 741.58 points, or 1.02%, at 73,737.89, while the Nifty rose 226 points, or 1.02%, at 22,349.65 at 11 am. Investors are closely watching developments in the market and key economic indicators to guide their investment decisions.
