Latest news with #ÇelebiHavaServisi
Time of India
18-05-2025
- Business
- Time of India
Turkey's Celebi loses over Rs 2,500 crore in 2 days as stock crashes 20% after India revokes security clearance
Turkey-based airport ground handling company Çelebi Hava Servisi has seen its market capitalisation erode by more than Rs 2,500 crore (USD 293 million) in just two days, with its shares plunging nearly 20% on Thursday and Friday after India revoked the security clearance of its subsidiaries over national security concerns. In response, the Istanbul-headquartered firm said it will 'pursue all administrative and legal remedies' to challenge the decision. The company underlined the significance of its India operations, stating that over one-third of its $585 million consolidated revenue in 2024 came from its Indian subsidiaries. The Bureau of Civil Aviation Security (BCAS) revoked the security clearance of Çelebi Airport Services India on Thursday, effective immediately. The move impacted all associated entities of the group operating in the country. Çelebi maintained that its Indian operations are 'truly an Indian enterprise' managed by Indian professionals and 'not a Turkish organisation by any standard.' The action by Indian authorities comes amid a diplomatic backlash over Turkey's support for Pakistan during last week's India-Pakistan conflict, which saw military tensions escalate between the two neighbours. The revocation of security clearance was reportedly grounded in national security considerations. Following the government order, Çelebi's shares fell 10% on the Borsa Istanbul on Thursday, closing at 2,224 Turkish Lira, and crashed another 10% on Friday to 2,002 TL, triggering multiple trading halts. The sell-off resulted in a total market value loss of over Rs 2,500 crore in two days. Çelebi Airport Services India has moved the Delhi High Court to set aside the revocation order, with a hearing expected on Monday. 'Our Company will pursue all administrative and legal remedies to clarify these unfounded allegations and to reverse the imposed orders,' Çelebi said in a regulatory filing. It added that its subsidiaries had always complied with Indian laws and never posed any threat to national security. Since entering the Indian market in 2009, Çelebi has invested over $250 million and employs more than 10,000 Indians. It operates at nine airports across the country—including Delhi, Mumbai, Bengaluru, and Hyderabad—through five different subsidiaries. Çelebi Airport Services India, the largest among them, was operating at six airports. With Çelebi's operations suspended, several airports and airlines in India are now shifting to alternative ground handlers such as AI Airport Services, Air India SATS, and Bird Group. Meanwhile, the company also issued a clarification denying social media claims linking its ownership to Turkish President Recep Tayyip Erdoğan's daughter, Sümeyye Erdoğan Bayraktar. Çelebi called the allegation 'factually incorrect' and reiterated that it is majority-owned by international institutional investors with no political affiliations. Also Read: Street Favourite! SBI, Tata Motors among 10 large-cap stocks analysts expect to rally up to 32%
Yahoo
05-03-2025
- Business
- Yahoo
Top Middle Eastern Dividend Stocks In March 2025
As Middle Eastern markets navigate the turbulence of global trade tensions and fluctuating oil profits, investors are keenly observing how these dynamics impact regional indices. In this environment, dividend stocks offer a potential avenue for stability and income, making them an attractive option for those looking to balance risk with reliable returns. Name Dividend Yield Dividend Rating Saudi Telecom (SASE:7010) 4.84% ★★★★★★ Peninsula Group (TASE:PEN) 6.64% ★★★★★★ Emaar Properties PJSC (DFM:EMAAR) 7.07% ★★★★★☆ Arab National Bank (SASE:1080) 6.02% ★★★★★☆ Delek Group (TASE:DLEKG) 8.50% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 7.35% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 5.52% ★★★★★☆ Emirates NBD Bank PJSC (DFM:EMIRATESNBD) 4.64% ★★★★★☆ Nuh Çimento Sanayi (IBSE:NUHCM) 3.46% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 6.19% ★★★★★☆ Click here to see the full list of 61 stocks from our Top Middle Eastern Dividend Stocks screener. Below we spotlight a couple of our favorites from our exclusive screener. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Çelebi Hava Servisi A.S. offers ground handling, cargo, and warehouse services to both domestic and international airlines as well as private air cargo companies, primarily in Turkey, with a market cap of TRY50.18 billion. Operations: Çelebi Hava Servisi A.S. generates revenue through its Airport Ground Services, including ground handling services, amounting to TRY11.33 billion and Cargo and Warehouse Services totaling TRY5.90 billion. Dividend Yield: 3.1% Çelebi Hava Servisi's dividend payments are well-covered by both earnings and cash flows, with payout ratios of 52.3% and 51.3%, respectively. The company offers a competitive dividend yield of 3.05%, ranking in the top 25% within the Turkish market. However, despite recent growth in dividends, its track record is less than a decade old and has shown volatility with annual drops over 20%, making it somewhat unreliable for consistent income seekers. Click to explore a detailed breakdown of our findings in Çelebi Hava Servisi's dividend report. Insights from our recent valuation report point to the potential overvaluation of Çelebi Hava Servisi shares in the market. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Mavi Giyim Sanayi ve Ticaret A.S. operates in the wholesale and retail sectors, specializing in ready-to-wear denim apparel for men, women, and children, with a market cap of TRY27.43 billion. Operations: Mavi Giyim Sanayi ve Ticaret A.S. generates revenue primarily from its apparel segment, amounting to TRY27.44 billion. Dividend Yield: 3.1% Mavi Giyim Sanayi ve Ticaret's dividend payments are well-supported by earnings and cash flows, with payout ratios of 44.3% and 30.2%, respectively. Despite a relatively short four-year history of dividend payments, the yield stands at 3.08%, placing it among the top payers in Turkey. The company trades at a favorable price-to-earnings ratio of 14.4x compared to the market average, though its dividends have not yet established long-term reliability for investors seeking consistent income. Take a closer look at Mavi Giyim Sanayi ve Ticaret's potential here in our dividend report. Our valuation report here indicates Mavi Giyim Sanayi ve Ticaret may be undervalued. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Bank Hapoalim B.M., along with its subsidiaries, offers a range of banking and financial products and services both in Israel and internationally, with a market capitalization of ₪66.54 billion. Operations: Bank Hapoalim B.M. generates revenue through its diverse offerings of banking and financial services across domestic and international markets. Dividend Yield: 3.4% Bank Hapoalim B.M.'s dividend payments, covered by a low payout ratio of 29.2%, have been volatile and unreliable over the past decade, with significant annual drops. Despite this instability, dividends are expected to remain covered by earnings in three years at a 50% payout ratio. The bank's recent net income for 2024 was ILS 7.64 billion, up from ILS 7.36 billion in the previous year, indicating ongoing profitability that could support future dividends despite current yield being lower than top-tier payers in Israel. Delve into the full analysis dividend report here for a deeper understanding of Bank Hapoalim B.M. The analysis detailed in our Bank Hapoalim B.M valuation report hints at an deflated share price compared to its estimated value. Click through to start exploring the rest of the 58 Top Middle Eastern Dividend Stocks now. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Enhance your investing ability with the Simply Wall St app and enjoy free access to essential market intelligence spanning every continent. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include IBSE:CLEBI IBSE:MAVI and TASE:POLI. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
