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By Senad Karaahmetovic Raymond James made a series of changes in the firm’s coverage of airlines ahead of the Q3 earnings season. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Sector Performance is a list of all sectors as provided by the exchanges (BSE/ NSE) and the graphical representation of the % of stocks which are up or down in that sector for the current market session.

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here’s why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster. The incident relates to a winding-up case that the Swiss company had filed against SpiceJet in Madras High Court and it could have resulted in a possible liquidation of the airline carrier. The case was filed against Spicejet for allegedly failing to honour some invoices towards maintenance, repairing, and overhauling of the aircraft engines and components in 2013.

Airline stocks fly as global oil prices soften

Raymond James made a series of changes in the firm’s coverage of airlines ahead of the Q3 earnings season. KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. Vacation rentals company Airbnb saw overall night bookings by Indians grow by almost 50% in the third quarter, and domestic night bookings rise by about 80% compared to the same pre-Covid-19 period. The other side of it is that the results of state elections are being announced today.

After the current hike, jet fuel prices have reached an all-time high. For domestic airlines, ATF cost Rs 1,41,232.87 per kl in Delhi; Rs 1,46,322.23 per kl in Kolkata; Rs 1,40,092.74 per kl in Mumbai; and Rs 1,46,215.85 per kl in Chennai. Jet fuel prices, which constitute a major cost of an airline, have witnessed a sharp rise this year as Russia’s invasion of Ukraine pushed crude prices to record high in the international market. ATF prices have been raised ten times this year, while the steepest hike of 18.3% was announced on March 16. Earlier on May 16, the price was raised by 5% to ₹123,039 per kilolitre. Delta’s jet fuel costs soared 33% in the first quarter to an average of $2.79 a gallon from the fourth quarter.

Bikaji Foods International and Global Health Limited will make their debut at the Dalal Street on Monday. The issue raised Rs 881 crore and Rs 2,206 crore, respectively, between November from primary markets. In April, the low cost carrier said the dispute pending between Credit Suisse and SpiceJet has now reached an in-principle commercial settlement and the process of documentation is underway. The high court had ordered the winding up of SpiceJet and directed its official liquidator to take over the assets of the airline.

Stocks

ATF rates are revised on the first and 16th of every month on the basis of equivalent rates in the international market and local taxes. Live financial and stock data from select bourse-listed Tata companies. On BSE, IndiGo shares opened at Rs 2,070.05 apiece and rose 2.09 per cent to touch Rs 2,080.80 apiece. However, it surrendered the intra-day gains and fell nearly 1 per cent to close at Rs 2,019.85 per share.

Shares of airline companies IndiGo and SpiceJet rose up to 2% in the opening trade on Wednesday after state-owned oil retailer cut the price of jet fuel or Aviation Turbine Fuel . Indian Oil Corporation on Wednesday lowered jet fuel prices by 1.3% to ₹1.21 lakh per kilolitre . This is the first price cut this year after ten consecutive Sales turnover hikes in every fortnight since the start of the calendar year 2022. Weighed down by rise in jet fuel prices, shares of InterGlobe Aviation, the parent company of low-cost carrier IndiGo, declined as much as 2.97% to hit a low of ₹1,819.40 on the BSE. The stock opened lower at ₹1,850 against the previous close price of ₹1,875.25.

Fundamental

No worries for refund as the money remains in investor’s account.” The Director General of Civil Aviation lifted the restrictions of air fares after August 31 which were in place earlier during the pandemic. A key operational parameter on which InterGlobe fares better than the peers is the cost of operations.

It is also the third largest participant in the domestic aviation sector, after Air India and Indigo Airlines, with a market share of around 13% in the international aviation market among the domestic operators. By Yasin Ebrahim Investing.com – The S&P 500 eased from fresh record Tuesday, as a retreat in tech offset gains in industrials and a rebound in the airline stocks followed a rout a day… Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Aviation stocks tumbled up to 5 per cent Thursday after the government raised import duty on jet fuel.

From lockdown to lift-off! Spicejet, Interglobe to IRCTC share prices on a high as travel curbs set to go

A total of 1.39 lakh shares of the firm changed hands amounting to a turnover of Rs 59.55 lakh on BSE. In India, a public limited company under the name of Jet Airways Limited has been established. On May 5, 1993, the company officially started conducting business. The carriage of passengers and cargo as well as the supply of connected and https://1investing.in/ linked services are the primary activities of the Company, which are carried out through the provision of scheduled air transportation. I think that there are prices at which one should take up fresh positions. These companies have come into our lives and dominated and they just have to settle and maybe they were in weak investing hands.

The tailspin in the stock comes after the budget carrier posted a net loss of Rs 789 crore, which includes a one-time forex loss of Rs 369 crore, for the June quarter of FY23. The airline posted a net loss of Rs 729 crore in the quarter ended June FY22. Hindustan Zinc cheers investors with dividend; stock rises 2% The Vedanta Group company has declared its second dividend of ₹15.50 a share, or 775%, for FY23, amounting to ₹6,549.24 crore. Such a scenario would be financially catastrophic for airline companies, given the loss of revenue and profit during the two waves of the pandemic in India. The second wave of the pandemic was a brutal blow to airline companies that were recovering after a period of total disruption following the first wave. With fresh restrictions, airlines started facing operational hazards again, leading to sharp losses.

The ministry in 2020 imposed lower and upper limits on airfares after the resumption of services following the two-month nationwide lockdown to contain the spread of Covid-19. Thereafter, the limits were relaxed in a phased manner as per the improvement in air traffic in the country. The ministry in 2020 imposed lower and upper limits on air fare after the resumption of services following the two-month nationwide lockdown to contain the spread of Covid-19. The crisis-hit airline has also delayed payment of salaries to staff for the second straight month. However, SpiceJet said it has started crediting salaries from Wednesday, and like the previous month, “salary will be credited in a graded format”.

The exit polls said the BJP is going to win in UP and so I think that it is also doing some good things to the market and providing some of the bounce. The banks have been hit very hard when the market went down and so they are taking some of the gains back. The banks need to be transparent about how much business they are doing with Russia. That is the next thing that has to come out and then we will be able to take a call. It is naïve to expect that given the amount of oil that is trading between Russia and India, there is no exposure and it is definitely going to hurt the banks.

• The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy.
• The government has allowed foreign airlines investment in Air India by up to 49%.
• Jet fuel prices are changed twice every month based on the average price of the international benchmark in the preceding fortnight.
• Even if all restrictions are lifted over the next few months, it may take more than a year for airlines to get back on their feet.
• Spicejet shares were trading in the red on Thursday, a day after the company reported its financial results for the April to June 2022 quarter, in which its net loss broadened given high fuel prices, rupee depreciation, and a one-time forex loss.

Prevent unauthorized transactions in your account update your mobile number/ email Id with your Stock Broker. Receive information of your transactions directly from Exchange on your mobile / email id at the end of the day.” Shares of SpiceJet went up 3 per cent to close at Rs 46.15 apiece on BSE and NSE.

Shares of Jet Airways tumbled 4.82 per cent, SpiceJet 1.95 per cent and InterGlobe Aviation 1.27 per cent on BSE. Almost every airline has blamed rising ATF prices – something that can be blamed on boiling international crude oil prices. However, now tables have turned as crude oil price has eased and OMCs have the chance to trim down costs.