New Delhi: The stock of Turkish ground-handling firm Celebi Airport Services tanked 10 per cent on Friday after India revoked the security clearance of the company amid calls to ban Turkish businesses, in the wake of their country supporting Pakistan which harbours terrorism.
The stock fell 222 points, or 10 per cent, to trade at 2,002 in Istanbul on Friday, extending its losses to nearly 30 per cent in four sessions. The stock was under pressure in the past few days amid clamour for action against the Turkish firm.
In a notification, the Ministry of Civil Aviation said on Thursday that “in the exercise of power conferred upon DG, BCAS, the security clearance in Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of National Security.”
“Recognising the seriousness of the issue and the call to protect national interests, we have taken cognizance of these requests and Ministry of Civil Aviation has revoked security clearance of the said company. Ensuring the safety and interests of the nation remains our top priority,” said Minister of State for Civil Aviation and Cooperation, Murlidhar Mohol.
In compliance with the Bureau of Civil Aviation Security (BCAS) directive, Delhi International Airport Limited (DIAL) has formally ended its association with Celebi entities responsible for ground handling and cargo operations at the Indira Gandhi International Airport (IGIA).
Adani Airport Holdings has terminated the ground handling concession agreement with Turkish firm Celebi at Mumbai and Ahmedabad airports with immediate effect.
The ground handling operations of Celebi Aviation have been suspended at Kempegowda International Airport in Bengaluru, as per the directive of the central government.
Since its entry in 2008, Celebi has expanded its presence in India’s aviation sector. As per reports, the firm is partly owned by Sumeyye Erdogan, daughter of Tayyip Erdogan. Sumeyye Erdogan is married to Selcuk Bayraktar, the man who produces Bayraktar military drones which Pakistan used against India.
IANS
Chinese J-10 fighter jet maker’s stock nosedives after India’s decisive victory
New Delhi: Chinese defence firm Avic Chengdu Aircraft, the maker of J-10 fighter jets which were used by Pakistan against India during the conflict, has seen its share price crashing...
Indian tablet market grows 15 pc in Jan-March, 5G captures 43 pc share
New Delhi: The Indian tablet market witnessed a 15 per cent (year-on-year) and 13 per cent (quarter-on-quarter) growth in the January-March period (Q1), buoyed by sustained demand from both the...
Indian rupee opens stronger against US dollar
Mumbai: The Indian rupee opened 75 paise stronger at 84.65 against the US dollar on Tuesday, following its previous close at 85.38 a dollar. The trading range for the day...
SECI chief terminated after allowing Anil Ambani’s Reliance Power to bid with fake documents: Sources
New Delhi: The Central government’s abrupt termination of RP Gupta, Chairman and Managing Director of the Solar Energy Corporation of India (SECI), stems from serious irregularities involving Anil Ambani-owned Reliance...
US, China sign deal to roll back tariffs for 90 days
Geneva: US Treasury Secretary Scott Bessent announced here on Monday that an agreement has been reached with China, at the trade talks held here, for a bilateral reduction in tariffs...
Sensex surges over 2,100 pts, Nifty above 24,650
Mumbai: Sensex and Nifty surged more than 2.7 per cent on Monday in the morning trade after India and Pakistan announced a ceasefire following four days of conflict. At around...
Delhi airport operations smooth; some flights may be hit due to airspace limits
New Delhi: Delhi International Airport Limited (DIAL) said on Monday that operations at the airport are “currently smooth”, however, due to changing airspace conditions and increased security measures, some flight...
Foreign investors infuse over Rs 14,000 crore into equity in May
Mumbai: Foreign investors have invested over Rs 14,000 crore in the country's equity market in May so far amid a blend of favourable global cues and robust domestic economy fundamentals....
Indian economy has potential to do much better than China in near future: Jim Rogers
New Delhi:India is going to be one of the most exciting investment destinations in the world and it will certainly be compared to China and, maybe, even do much better...
Indian markets end lower this week amid rising India-Pakistan tensions
Mumbai: Indian stock markets closed the week sharply lower as rising geopolitical tensions between India and Pakistan spooked investors and triggered a wave of selling across sectors. The Nifty fell...
Indian Oil, BPCL assure sufficient fuel supply amid India-Pak tensions
New Delhi/Mumbai: Amid rising tensions between India and Pakistan, state-run oil marketing companies Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) on Friday issued public statements, assuring citizens...
India-Pakistan tensions trigger selloff in stock markets, Sensex falls 880 points
Mumbai: Indian equity markets witnessed a sharp decline on Friday as rising tensions between India and Pakistan spooked investors. The selloff came after Pakistan fired eight missiles at Indian cities...
