They say better late than never. For the Tatas, the original owners of Air India, bringing back the airline to its fold is worth the wait even if the attempt to privatise the bleeding national carrier by successive governments has taken over two decades. While many airlines have come and gone from the Indian skies since the time when the first move was made to privatise Air India to date, the salt-to-software conglomerate has never let the love affair with aviation, more so with Air India that its former chairman Jehangir Ratanji Dadabhoy Tata (JRD) had, to go off the radar. It is said that Tata group executives used to complain in private that JRD -- the pioneer of the Indian aviation industry -- spent more time worrying about Air India than the Tata group when he was heading both the entities.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. There was Rs 21,539.5 crore which lay unclaimed with India's largest insurance company, according to details in the initial public offer (IPO) document it filed over the weekend. The regulatory documentation is ahead of LIC selling shares to the public through the stock exchange for the first time this financial year. This will be India's largest ever public listing.
Transcript of the market chat with Pranav Sanghavi.
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
'If it weren't for Om Puri, a whole range of our big city experiences wouldn't have found their honest representations on the screen.'
Ending its uncomfortable journey in India after eight years, Malaysia-based AirAsia Group on Wednesday said it has exited AirAsia India by selling its remaining 16.67 per cent stake to Tata Group-owned Air India for Rs 155.64 crore. Later in the day, Air India said it has begun the process of creating a single low-cost carrier subsidiary by merging AirAsia India and Air India Express. A working group consisting AirAsia India CEO Sunil Bhaskaran and Air India Express CEO Aloke Singh has been formed for the two carriers' integration, which is expected to take approximately 12 months, it added.
Markets ended higher, amid firm global cues, and are on track for third straight day of gains.
During a virtual meeting with health ministers and senior officials of states in view of the recent surge in coronavirus cases in some parts of the world, he said, "The Centre and states need to work in tandem and in a collaborative spirit as was done during the previous surges for Covid prevention and management."
A family of five, returning to their hometown at Koducalli in Kozhikode from Dubai, were aboard the fateful Air India Express flight that crash-landed at the Kozhikode airport claiming at least 18 lives on Friday.
Sensex in green, midcaps, smallcaps fail to show up; bluechips rule.
Prime Minister Narendra Modi has been holding in-person meetings with Union ministers in different groups apparently to take stock of the work done by them in the past two years, sources said.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
Despite unprecedented levels of uncertainty in Samvat 2077, investors have little to complain about on the returns front. The BSE Sensex delivered returns of 38 per cent in this period, while the Nifty registered a return of over 40 per cent. As is the case in bull markets, companies in the small- and mid-capitalisation basket outperformed the benchmarks, with returns almost twice those of frontliners.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
Auto stocks Hero MotoCorp and Mahindra & Mahindra gained 1-2 per cent on the back of strong sales in the month of September.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
The airline business has eaten up capital over the past century like almost no other business.
Starting with the third quarter of financial year 2020-21 (Q3FY21), we have seen "unlock" trades at various times. Whenever lockdowns have been eased, traders have taken long positions in consumer-facing businesses. Let's look at the logic. Since March 2020, sectors like retail, personal vehicles, hospitality, aviation, fast-moving consumer goods (FMCG), multiplexes, etc., have been under severe pressure. As a result, there's been a low base effect. Every company in these spaces has suffered top line contraction. Many suffered losses, especially in the first half of FY21.
Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
The feud between Gangwal and Bhatia came into the public after the former, in July, wrote to markets regulator Sebi seeking its intervention to address alleged corporate governance lapses at the company.
Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots.
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
Aviation companies were in focus with all the three airliners SpiceJet, InterGlobe Aviation and Jet Airways adding in the range of 2% to 3% on the BSE
The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.
He also assured the kin of victims that steps would be taken to get them compensation in line with an international convention of International Civil Aviation Organisation (ICAO). Taking stock of the crash of the Dubai-Kozhikode AIE flight in Kozhikode and the relief measures, the minister said pilot in-command of the plane, Captain Deepak Vasant Sathe, among those killed in the accident, was one of the most experienced commanders with more than 10,000 flying hours.
In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
The DGCA pointed to cracks on the runway, water stagnation and excessive rubber deposits among other lapses in its show-cause notice. The DGCA conducted the inspection after an Air India Express flight coming from Dammam in Saudi Arabia had a 'tail strike' while landing at the Calicut (Kozhikode) airport on July 2 last year, an official said.
For the past one week, Modi has been holding in-person meetings with Union ministers apparently to take stock of the work done by the government in the last two years and to discuss various issues.
Prime Minister Narendra Modi was on Saturday briefed about the new 'Omicron' variant of the coronavirus, and he asked officials to review the plans to ease international travel restrictions in light of the 'emerging new evidence.'
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
Patients and pregnant women, people out to buy essential items, and those travelling to or from railway stations, bus stops and airports will be exempted from the night curfew that kicks in at 11 pm on Monday due to rising COVID-19 cases in Delhi, according to a DDMA order.
Sources in the know said the government would initiate talks with businesses, including Tatas, shortly for divesting its stake in the national carrier.
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
This was the biggest IPO in the Indian market since Infratel's.
After 18 months of closure, what really could be salvaged? And the answer sadly is, precious little, Patience, perseverance and plenty of moolah is the way forward even assuming intent is in place, says Anjuli Bhargava.
'When you have surplus cash flow and markets correct sharply, what options do you have other than buying good stocks?'
The pilots and other senior staff have not been getting their full salaries since December.
