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Aviation industry expected to reduce losses in FY18: ICRA

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Aviation sector

Mumbai, Dec 6 : Credit ratings agency ICRA on Tuesday said that healthy passenger load factors, along with a decline in competitive intensity is expected to aid the Indian aviation industry to reduce its losses in FY2018.

As per a research note by ICRA, healthy passenger load factors supported by a decline in competitive intensity due to moderation in capacity addition and suspension of operations of three regional airlines has augured well for the industry profitability.

“This coupled with a gradual improvement in the core growth drivers like economic environment, tourism demand and regulatory support and a strong demand during the peak season is expected to support the industry profitability during H2 FY2018,” the research note said.

According to Kinjal Shah, Assistant Vice President & Co-Head, Corporate Sector Ratings, ICRA, the aggregate net loss of the industry (which does not includes Vistara and AirAsia India) is expected to reduce to “Rs 50 million to Rs 1 billion in FY2018 from Rs 10 billion in the previous year”.

“It has to be noted that the loss is primarily on account of losses of Air India, while all other major airlines are expected to report profits during the year,” he said.

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Value buying lifts equity indices; banking, IT stocks surge

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SENSEX NIFTY MARKET

Mumbai, May 24: Value buying lifted the key equity indices on Thursday, after they slumped around one per cent in the previous session.

According to market observers, healthy buying was witnessed in banking, IT and Teck (technology, entertainment and media) stocks. IT stocks surged due to a depreciating rupee, they said.

At 3.30 p.m, the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,513.85 points — up 83.50 points or 0.80 per cent from its previous close of 10,430.35 points.

The barometer 30-scrip Sensitive Index (Sensex) also jumped nearly one per cent. It had opened at 34,404.14 points and closed at 34,663.11 points (3.30 p.m) — higher by 318.20 points or 0.93 per cent from its previous session’s close of 34,344.91 points.

On intra-day basis, the Sensex touched a high of 34,741.46 points and a low of 34,367.83 points. The BSE market breadth was, however, slightly tilted towards the bears with 1,355 declines and 1,284 advances.

The major gainers on the BSE were Bharti Airtel, Tata Consultancy Services (TCS), Infosys, Axis Bank and Tata Steel, while Tata Motors, ONGC, Tata Motors (DVR), Bajaj Auto and Maruti Suzuki were the major losers.

On the NSE, the top gainers were Infosys, Bharti Airtel and TCS. The major losers were ONGC, Tata Motors and Grasim Industries.

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Fund outflows, rupee depreciation dent equity indices

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SENSEX-

Mumbai, May 23: Persistent outflow of foreign funds along with weak global cues and a depreciation in the rupee plunged the key Indian equity indices on Wednesday.

According to market observers, heavy selling pressure was witnessed in metal, oil and gas and auto stocks.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,430.35 points, down 106.35 points or 1.01 per cent from the previous close of 10,536.70 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE tumbled nearly 1 per cent as trade closed for the day. It had opened at 34,656.63 points, closed at 34,344.91 points (3.30 p.m.) — down 306.33 points or 0.88 per cent — from its previous session’s close of 34,651.24 points.

The Sensex touched a high of 34,668.47 points and a low of 34,302.89 points. The BSE market breadth was bearish with 1,540 declines and 1,115 advances.

The major gainers on the BSE were State Bank of India (SBI), Larsen and Toubro, NTPC, Tata Motors and Sun Pharma while Tata Steel, ONGC, IndusInd Bank, Dr Reddy’s Lab, Adani Ports and ITC were the major losers.

On the NSE, the top gainers were SBI, Cipla and Tech Mahindra. The major losers were Hindustan Petroleum, Vedanta and Tata Steel.

IANS

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Hike in petrol, diesel prices continues

Petroleum Minister Dharmendra Pradhan on Monday said that the government was looking at ways to keep rising fuel prices in check.

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Petrol

New Delhi, May 22 : The hike in Petrol and diesel prices continued for the ninth day on Tuesday amidst reports that the government was mulling steps to check it.

Petrol prices were hiked in the range of 29-32 paise per litre across Delhi, Kolkata, Mumbai and Chennai, while diesel prices were lifted by 26-28 paise per litre, compared to the previous day.

On Tuesday, a litre of petrol was sold at Rs 76.87 in Delhi, Rs 79.53 in Kolkata, Rs 84.7 in Mumbai and Rs 79.79 in Chennai, according to Indian Oil.

Diesel was sold at Rs 68.08 per litre in Delhi, Rs 70.63 per litre in Kolkata, Rs 72.48 per litre in Mumbai and Rs 71.87 per litre in Chennai.

Petroleum Minister Dharmendra Pradhan on Monday said that the government was looking at ways to keep rising fuel prices in check.

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