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Markets continue to trade strong - SpiceJet signs deals with WL Ross

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

Add commentAugust 11th, 2008

News about Deccan Aviation Limited

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.”

Add commentDecember 4th, 2007