Adani expands aircraft MRO biz, buys Nagpur firm Indamer
NEW DELHI: The
Adani Group
has further expanded its presence in the maintenance, repair and overhaul (MRO) space. After acquiring Air Works, it has now bought another major MRO player in Nagpur.
Adani Defence Systems and Technologies (ADSTL), through its joint venture Horizon Aero Solutions, has signed a definitive agreement to acquire a 100% stake in Indamer Technics (ITPL), one of India's leading private-sector MRO providers. Horizon is a 50-50 partnership between ADSTL and Prime Aero Services LLP, a company owned by Prajay Patel, the director of Indamer Technics. Located at Nagpur in the MIHAN special economic zone (SEZ), ITPL has a facility on the 30-acre site that can accommodate 15 aircraft bays across 10 hangars.
Approved by DGCA, FAA (USA) and other global civil aviation regulators, ITPL offers MRO services like lease return checks, heavy c-checks, structural repairs, and aircraft painting to Indian and global customers.
Adani Airports director Jeet Adani said: "This acquisition is the next step in our push to establish India as a premier global MRO destination. It also reinforces our commitment to building an integrated aviation services ecosystem that strengthens India's aviation infrastructure. Our goal is to create a single-point aviation services platform that is driven by world-class quality standards and customer satisfaction.
We are determined to play a pivotal role in shaping the future of India's skies." "With Indian carriers set to induct more than 1,500 aircraft in coming years, we are on the cusp of a new era," Adani added.
Stay informed with the latest
business
news, updates on
bank holidays
,
public holidays
, current
gold rate
and
silver price
.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
9 minutes ago
- Mint
Trump tariff impact: Indian economy has not slowed, too early to gauge GDP effect, says Chief Economic Advisor
Chief Economic Advisor V Anantha Nageswaran said on Wednesday, August 13, that the momentum of the Indian economy has not slowed down after the United States imposed 50 per cent tariff on India. CEA Nageswaran also said that it was too early to assess the impact of US tariffs on the Gross Domestic Product (GDP). More details are being added Stay updated with the latest Trending, India , World and US news. Business NewsNewsTrump tariff impact: Indian economy has not slowed, too early to gauge GDP effect, says Chief Economic Advisor More Less
&w=3840&q=100)
Business Standard
9 minutes ago
- Business Standard
Hyundai Motor jumps 5% in two days after Goldman Sachs Initiates with 'Buy'
Goldman Sachs on Hyundai Motor India: Automobile major Hyundai Motor India's share price extended its rally for a second straight session on Wednesday, August 13, 2025, climbing as much as 2.51 per cent intraday to touch ₹2,259.35 – just a few points shy of its 52-week high of ₹2,265.05. The Hyundai Motor India stock has now risen 4.98 per cent over two days, driven by strong investor sentiment following a bullish initiation report by global brokerage Goldman Sachs. READ STOCK MARKET LIVE UPDATES TODAY The brokerage initiated coverage on Hyundai Motor India with a 'Buy' rating and set a 12-month target price of ₹2,600, signaling an upside potential of 20.8 per cent from current levels. In its report, Goldman Sachs analysts Chandramouli Muthiah, Kota Yuzawa, and Rishabh Rathi wrote, 'We view Hyundai Motor India Limited (HMIL) as well positioned to outgrow the India car industry, driven by new SUV launches triggered by upcoming greenfield capacity additions.' According to the analysts, Hyundai is set to benefit from a combination of upcoming high-volume model launches, a more favourable SUV and export mix, and its leverage to a potential domestic car market recovery expected by FY27. While the broader market remains cautious on near-term volume growth, Goldman Sachs' analysts believe Hyundai will start outpacing competitors more visibly from FY27 to FY28, supported by improving consumer sentiment and structural demand catalysts such as the 8th Pay Commission. The report also forecasts strong financial performance ahead, with earnings per share expected to grow by 10 per cent in FY26, 15 per cent in FY27, and 27 per cent in FY28. Ebitda margins are projected to rise to 13.8 per cent in FY28 from 12.9 per cent in FY25, while return on equity is forecast to climb from 20 per cent in FY23 to 31 per cent by FY28. The brokerage expects Hyundai to outperform the broader Indian auto sector, with a projected 8 per cent three-year volume CAGR, compared to 5.3 per cent for the overall industry. Valuations, though slightly elevated, remain justified in Goldman Sachs' view, with Hyundai Motor India trading at 27x forward P/E – one standard deviation above its historical average, and about 10 per cent higher than Maruti Suzuki. Key catalysts include Hyundai's first-ever Investor Day in October 2025, a slew of upcoming launches in the MPV and SUV segments, and a potential demand inflection in the second half of FY26. However, risks such as concentration in Creta and Venue models, rising competition in the SUV segment, market share pressure from KIA, and environmental compliance concerns remain on the radar.
Hindustan Times
9 minutes ago
- Hindustan Times
‘Spoke to Nikhil and Nithin': Indian-American Perplexity CEO hints at Zerodha collaboration
The Indian-origin CEO of Perplexity AI has hinted at an upcoming collaboration with Zerodha. Aravind Srinivas said he has spoken to Nithin and Nikhil Kamath – the billionaire brothers behind India's largest stockbroker – indicating that a big announcement is in the offing. Nikhil Kamath (L) is the co-founder of Zerodha, while Aravind Srinivas (R) is the co-founder and CEO of Perplexity AI. This comment from Srinivas comes shortly after his startup made an unsolicited $34.5 billion (over ₹3,02,152 crore) all-cash bid to acquire Google Chrome, according to a Reuters report. For some context This morning, Srinivas announced a new finance-focused feature within Perplexity AI. 'Indian stocks are now covered on Perplexity Finance,' he wrote. 'Zerodha when?' an X user asked him in the comments section. The Indian-origin, San Francisco-based CEO of Perplexity AI then hinted at a possible collaboration, revealing that he had already spoken to the co-founders of Zerodha. 'Spoke to Nikhil and Nithin. Will have something to share soon,' wrote Srinivas. What is Perplexity AI? Perplexity is an AI-powered "answer engine"—a hybrid between a search engine and a conversational chatbot. It allows users to ask questions in natural language and receive answers that are supported by real-time web search and source citations. A possible Zerodha collaboration? The talk of a Perplexity and Zerodha collaboration is not entirely without precedent. Last week, an X user suggested that Perplexity team up with Zerodha to add Indian stock markets to the finance page of its Comet browser. Aravind Srinivas had responded to this suggestion by tagging Nikhil Kamath, co-founder of Zerodha. 'Absolutely, setting up a call for Monday…' Kamath responded. Perplexity's offer to Google Perplexity AI made a $34.5 billion unsolicited all-cash offer for Alphabet's Chrome browser on Tuesday, a bid far above its own valuation as the startup reaches for the browser's billions of users pivotal to the AI search race. Run by Aravind Srinivas, Perplexity is no stranger to headline-grabbing offers: it made a similar one for TikTok US in January, offering to merge with the popular short-video app to resolve U.S. concerns about TikTok's Chinese ownership. (Also read: Indian-origin man offers over ₹3302152 crore to Google just to buy…) (With inputs from Reuters)
