Aviation regulator DGCA said SpiceJet has failed to establish safe, efficient and reliable air services under Aircraft Rules, 1937.
DGCA's audit of SpiceJet in September 2021 found component suppliers not being paid on a regular basis leading to shortage of spares.
SpiceJet management has been given 3 weeks to respond to show-cause notice.
Source: PTI
The MidCap index almost mirrored Sensex and Nifty while the SmallCap underperformed, rising 0.6%. Fifteen of the 19 sectoral indices compiled by BSE Ltd. rose with Auto index adding 2.5%.
The market breadth is skewed in the favour of bulls. About 1,703 stocks rose, 1,456 fell an d 158 remained unchanged.
Shares of Aurobindo Pharma are on course to extend gains for the fourth day.
The company's subsidiary Eugia Pharma received final approval from U.S. FDA to manufacture and market Triamcinolone Acetonide Injectable Suspension 200 mg/5 mL, 400 mg/10 mL, multiple-dose vials.
The drug is therapeutically equivalent to RLD, Kenalog-40 Injectable Suspension, 40 mg/mL of Bristol-Myers Squibb.
The drug, which is being launched this month, has an estimated market size of $73 million for twelve months ending May 2022, according to IQVIA.
The drug is a glucocorticoid cortisteroid (anti-inflammation) and indicated for treatment of intramuscular and intra-articular inflammation.
Source: Exchange filing, Bloomberg
SpiceJet Hits A 52-Week Low After Multiple Malfunction Incidents
Tussle Over $5 Billion Wages A New Risk To India Coal Supply
Bajaj Finance Q1 Update: Core Assets Rise To More Than Rs 2 Lakh Crore
The broader indices almost mirrored their larger peers. Sixteen of the 19 sectoral indices compiled by BSE Ltd. advanced with Auto and Bankex indices rising over 0.75%. On the flipside, the Metal gauge shed nearly 2%.
The market breadth is skewed in the favour of bulls. About 1,506 stocks rose, 660 fell and 100 remained unchanged.
Yield on the 10-year bond fell 9bps to 7.30% at the open, lowest in over a month since May 26, 2022.
10-year bond yield fell amid moderation in crude oil prices. Brent Crude fell over 9% yesterday and is hovering around $104 per barrel.
Source: Bloomberg
Domestic LPG Cylinder Prices Up By Rs 50
Q1 pre-sales are at Rs 1,857 crore year-on-year, up 194%.
75% of sales growth required to meet full-year guidance achieved in Q1.
Collections up 53% year-on-year to Rs 2,616 crore.
Net debt for India business reduced by Rs 450 crore to Rs 8,858 crore.
Lodha says good demand across segments is seen, no impact of macro-economic conditions on demand for housing from high credibility developers.
Source: Exchange filing
Bajaj Finance Q1 Update: Core Assets Rise To More Than Rs 2 Lakh Crore
ONGC/Oil India/RIL: Crude oil rebounded above $100/barrel as banks including Goldman Sachs said a plunge driven by fears a recession will hurt demand was overdone.
IOCL/BPCL/HPCL: Ethanol used for blending with petrol to the extent of 15% will be exempted from excise duty. Diesel blending will also be exempt up to 20%.
Marico: Marico expects “mid-single-digit” decline in domestic volume for the quarter ended June 30 as steep price hikes led to downtrading across two of its largest brands.
Biocon: The company has received EU GMP certification for its new monoclonal antibodies drug substance manufacturing facility in Bengaluru, following a GMP inspection in April 2022.
Bajaj Finance: Assets under management rose 3.55% month-on-month to Rs 2.04 lakh crore in the quarter ended June, even as net liquidity surplus was Rs 11,550 crore.
South Indian Bank: Advances grew 11% year-on-year and 4.8% sequentially to Rs. 62,095 crore. Deposits rose 4% over a year ago but fell 1% on a quarterly basis. The lender's CASA ratio stood at 34% in Q1 FY23 compared to 33% in Q4 FY22 and 30% in Q1 FY22.
J Kumar Infraprojects: The company has received letter of acceptance from BMC for building Sewer Tunnel-Phase I from Don Bosco to New Malad IP. The project is worth Rs 571.01 crore, and the company has 60% stake in the JV which comes to Rs 342.60 crore.
Garden Reach Shipbuilders: Inks pact with West Bengal to build an electric ferry.
Stock Market Today: All You Need To Know Going Into Trade On July 6