Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
Airlines are slashing salaries and re-negotiating vendor contracts as drastic fall in passengers has hurt revenue. Go First has cut staff salaries by around 16 per cent while IndiGo and SpiceJet are enforcing a leave without pay (LWP) policy and pay by the hour structure respectively to prune expenses. Vistara, which reversed pay cuts for junior staff including managers and cabin crew in March, is not touching employee salaries at the moment and instead focusing on vendor renegotiation and maximising cargo revenue. An Air India executive said efforts are on to pay salaries by 7th or 8th of June.
SpiceJet is the first Indian low fare airline to establish such an arrangement with a foreign airline.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
Spice Retail has launched a spa with services for transforming smartphones that range from deep body cleaning, screen guard facial to fresh skin rejuvenation and holistic healing services.
The shipping business is like the heaving sea -- it's up and down, observes Shyam G Menon.
The man was reissued the ticket and allowed to board the flight once the airline staff at the Jaipur airport realised that he is not the comedian who is on the no-fly list of four airlines, including Air India.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
In a rare move, the DGCA has filed a police complaint against 34 pilots of Jet Airways, IndiGo, SpiceJet and GoAir.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
Sight, smell and touch will help ensure that you are picking up something fresh and ready to use.
The PBD this year functions as a political stage for the BJP government at the Centre and in Uttar Pradesh. Both Prime Minister Narendra Modi and Congress president Rahul Gandhi have been wooing the Indian diaspora through widely publicised events across the country. At the PBD, the mood was either largely pro-Modi, and when not, apolitical.
>Gadgets that make kitchen work easier and faster have gained momentum in the lockdown.
South Africa's dramatic improvement over the last six months, Mexico's new-found self belief and France's erratic build-up will make Group A one of the closest fought in the opening stage of the World Cup.
Portugal will look to their Euro 2020 opener with Hungary to get a head start
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
Board to meet investment advisors Goldman Sachs and Avendus today.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
The Tata group firm has enhanced its product portfolio through "targeted acquisitions" as it aspires to be a formidable player in the FMCG category, said Chandrasekaran, who is also the chairman of Tata Sons. Besides, it has stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience, he said in his message to shareholders in the latest annual report of TCPL.
The Tatas are rather overwhelmed with some facets of the airline they have discovered, but even more unnerved by what they may not have yet uncovered, reveals Anjuli Bhargava.
Kamra was banned by India's largest airline for six months on Tuesday for allegedly harassing Goswami on the Mumbai-Lucknow flight. SpiceJet, GoAir and Air India also imposed a similar ban on Kamra without specifying any period.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
Authorities also released photographs of six suspects, including three women, wanted for their involvement in the attacks and sought information regarding them from the public.
The standoff between the government and the opposition in Parliament has showed no signs of easing after it erupted on the opening day of the Monsoon session on July 19.
Farmers flaunting colourful turbans, sunshades, long beards and twirling moustaches danced on tractors, distributed sweets and hugged each other to mark the occasion that seemed like a festival.
These include B K Modi's Spice, Larsen & Toubro and Tech Mahindra. iGate, which had participated in the first round of bidding, backed out from completing the second round. Global majors like IBM are understood to have entered the second round, but this could not be independently confirmed. Other names floating include that of Hewlett-Packard and KKR Private Equity Investors.
The total amount of penal interests charged from the defaulting parties stood at about Rs 115 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Market estimates suggest the airline has already totted up Rs 1,800 crore of losses in FY20, and FY21 is expected to see losses in the region of Rs 2,500 crore to Rs 3,000 crore Many in the sector say that Vistara lacks the light-footedness of the airlines with which it competes, reports Anjuli Bhargava.
The protocol provides an approach for managing patients who have recovered from COVID-19 for care at home.
Maran's penchant for taking risks was visible last year again when he acquired Indian Premier League's Hyderabad cricket franchisee and named it Sun Risers.
'Everyone says never waste a crisis.' 'When we went into Covid and we were in total lockdown, we were at work.' 'The planes were not flying and we wondered what to do.' 'We looked at each of our performance metrics -- what are customers complaining about, how do employees feel, how do investors feel?'
Modi said Ayurveda is India's heritage whose expansion entails the welfare of humanity and all Indians will be happy to see that the country's traditional knowledge is making other countries prosperous.
The GMR group-run Delhi and Hyderabad airports have not only been gleaming examples of successful public-private partnerships, but they are also among the country's favourites.
A diet rich in proteins, vitamins and minerals is very crucial in maintaining and boosting immunity.
Maharaj Jodharam Choudhary of the Khandani Rajdhani has special Holi recipes for you.
