Posts filed under 'Aviation'
Monday, September 01, 2008 12:31:02 PM IST
SpiceJet is in news that it has decided not to cut domestic air fares despite the recent slash of aviation fuel prices by 16%. NSE Nifty is at 4293.7 down 1.5% and BSE Sensex managing 14300 levels and is down 1.76%
SpiceJet is in news that it has decided not to cut domestic air fares despite the recent slash of aviation fuel prices by 16%. An official from the airliner, speaking to a Business press was quoted saying that it takes about 2 - 3 months for the prices to stabilise. The announcement came close in heels after Indian Oil Limited (IOL) has announced it is reducing the domestic jet fuel rates by about 16% effective from Monday with the International Crude prices cooling a bit.
SpiceJet is trading at 27.90 levels up 2.2%. Its peers Jet Airways is at 492.9 levels and Deccan Aviation is at 83.65. The three aviation stocks are in the green today with Deccan up by over 5.4% at the moment.
The markets are in the red since the morning and are going in a range bound manner during the last hour of trade. The CNX IT is down by 0.53% while Bank Nifty is down 2.35%. The broder CNX 500 is down 1.34%.
Top losers on the Nifty so far include Maruti (down over 4%), Reliance Infra, Tata Steel, Reliance Communications, Bharti Airtel, SAIL (all over over 3%), ICICI Bank, BPCL, SBI and Hindustan Unileaver (all over over 2%)
Gainers list on the Nifty includes HCL Tech (up 3%), Hero Honda (up 2%), Sun Pharma (up over 1%), Dr. Reddy, Zee Limited, Cairn, RPL and Reliance (all marginally in the green)
All sectoral indices on the BSE are now in the red with inflationary-sectors Banks and Power down by over 2%. Metal and FMCG too slipped a bit more now.
1 U.S. dollar = 43.7407 Indian Rupees
1 U.S. dollar = 108.2368 Japanese Yens
1 U.S. dollar = 0.6838 Euros
1 Ounce Gold = $831.30
1 Barrel Crude Oil = $116.41
September 1st, 2008
The Indian stock markets are making further inroads to newer higher levels having opened upwards in the positive territory today.
Nifty is back at 4400 levels and is at 4410.35 up by 0.96%. CNX IT is marginally in the green while Bank Nifty is positive and has gained 1.11% in todays trade so far.
The BSE Sensex us up 120 points and is currently at 14,664.37 having opened at 14,610.57 early this morning. The BSE Midcap index is up 1.03% while the BSE Smallcap index is up 0.91%. On the sectoral front, Power, Metal, Realty, Health Care, PSU, Capital Goods, Bankex and Teck are all up by over 1%
The falling share prices seems to have come as an advantage to many, particularly for the Bajaj’s. A leading financial daily was reporting that the Bajajs have increased their stake in Mukund by 2% by open market purchases. With this, the Bajajs have a holding of 43% in the speciality steel company.
Reliance Communication (RCOM) was in news for many bad reasons and few good reasons recently. The latest buzz at RCOM is about their entry into the DTH Business under the brand Big TV. The press was reporting that the Reliance ADA Group has placed huge orders for DTH boxes and related equiptment to test their luck in the Indian DTH market. DTH has a market share of a mere 4% as against to the conventional cable television market of 95% and hence a huge market opportunity if the product and pricing are done properly.
Kingfisher - Deccan Aviation has finally got the approval from the Aviation Ministry to fly seven flights a week between the Bangalore - Heathrow (London) segment. The approval is actually given to Deccan Availation though it seems the UB Group would actually want the Kingfisher brand to use it for its foray into international aviation. Sources say the soft kickoff of the foreign fly will be on September 3 while a complete full fledged operations will be from November 2008. With this, Kingfisher-Deccan will become the third, after Jet-JetLite and AirIndia-Indian Airlines to get the approval to fly abroad.
August 20th, 2008
The Indian stock markets continued to trade strong. CNX Nifty is testing the 4600 levels and is at 4600.50 up 1.57%. BSE Sensex is at 15454.96 up 287.14 points or 1.89%
Bankex, Realty sectoral indices are now up over 3% on the BSE. Bank Nifty is up 3.39%. Canara Bank, Kotak Bank, PNB are up over 4%. SBI, Axis, Bank of India, Bank of Baroda, HDFC are all up over 3%
A private indian business news channel is reporting that SpiceJet has signed a definitive agreement with the American investor WL Ross. This will bring in an investment of USD 100 million for the already starving private airliner.
SpiceJet is trading at Rs. 30.40 up by Rs. 1.75. Its peer Deccan Aviation is trading at Rs. 86.20 up by Rs. 2.60
1 U.S. dollar = 41.8602704 Indian rupees
1 U.S. dollar = 109.865964 Japanese yen
1 U.S. dollar = 0.668627975 Euros
August 11th, 2008
The media had reports that Deccan Aviation Limited may split the aviation chartering business into a separate entity.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Deccan Aviation Limited has vide its letter inter-alia stated, “The Board of Directors at the meeting held on April 26, 2007 had considered and approved in principle the proposal of hiving off the Charter Services into a separate entity through a wholly owned subsidiary and formation of a Company for the same subject to approval of the shareholders of the Company. Consequent to the said in principle approval from the Board, studies are now being initiated to consider this. However, no concrete steps have been taken and will only be taken after the outcome of these studies is presented to the Board.”
December 4th, 2007