Tuesday, October 13
In a temporary reprieve for Turkish aviation firm Celebi, the Bombay High Court on Monday directed Mumbai International Airport Limited (MIAL) to hold off on awarding new contracts for ground and bridge handling services at the city's international airport. The local subsidiary of a Turkish firm has approached the court under Section 9 of the Arbitration & Conciliation Act after the Adani Group-owned airport operating company decided to appoint IndoThai as the interim ground handling provider at CSMIA (Chatrapati Shivaji Maharaj International Airport) for the next three months. Justice Somasekhar Sundaresan, in an oral order, restrained the MIAL from taking any final decision on the tenders till the pleas filed by Celebi are heard post-reopening of the court in June. The detailed order
Karnataka Industries & Infrastructure Minister MB Patil on Monday said he would soon meet Defence Minister Rajnath Singh to save HAL’s proposed investments in the state amid reports of threats from the neighbouring Andhra Pradesh.“I will also request union ministers from Karnataka, Nirmala Sitharaman, Pralhad Joshi, HD Kumaraswamy, V Somanna and Shobha Karandlaje to join me in my meeting with the Defence Minister. We will do our best to protect Karnataka’s interests in defence projects,” he told ET.Patil’s comments came on the back of media reports that Andhra Pradesh chief minister N Chandrababu Naidu has sought diversion of HAL’s advanced medium combat aircraft (AMCA) and light combat aircraft (LCA) production from Bengaluru to Andhra Pradesh.Naidu reportedly offered 10,0
Mumbai: Smoothing the rough edges around the much-talked-about listing plans of National Stock Exchange (NSE) could depend on how the pie is shared between the country's largest bourse and its clearing arm.Under the market architecture, while deals are cut on the NSE platform, NSE Clearing, a wholly-owned subsidiary of the exchange, acts as the legal counterparty to clear and settle the transactions.Since the clearing corporation absorbs the entire settlement risk and acts as a crucial intermediary between a broker receiving buy or sell orders from investors and stock exchanges offering the trade platform, the market regulator is in favour of NSE Clearing becoming financially independent. At a meeting with public interest directors of NSE Clearing earlier this year, senior Sebi officials h
The market is expected to consolidate this week, with the Nifty likely to find immediate support around 24,500. A break below this level could lead to a decline toward 24,100, while a decisive move above 25,200 may reignite bullish momentum and potentially drive the index toward 25,600, according to technical analysts. Stocks such as HDFC Life, Apollo Hospitals, Axis Bank, BPCL, GAIL, SBI, Tata Chemicals, Hindustan Copper, ICICI Bank, and Kotak Mahindra Bank are expected to exhibit bullish momentum and present short-term trading opportunities.RAJESH PALVIYA HEAD – TECHNICAL & DERIVATIVES, AXIS SECURITIESWhere is Nifty headed this week? On the weekly chart, Nifty has formed a small bearish candle with a long lower shadow, indicating buying interest near the 20-week simple moving avera
