Sunday, August 30
The Ministry of Civil Aviation has ordered IndiGo to cut its planned flights by 10% after the airline scrapped at least 2,000 flights last week due to poor pilot roster planning.The direction comes after the aviation regulator DGCA asked the crisis-hit airline earlier on Tuesday to trim its operations by 5%.The DGCA had approved 15,014 IndiGo departures per week for the winter season when travel demand picks up in India. But the airline cancelled 951 flights in November out of the 64,346 flights approved for the entire month."The Ministry considers it necessary to curtail the overall Indigo routes, which will help in stabilizing the airline’s operations and lead to reduced cancellations. A curtailment of 10% has been ordered. While abiding with it, Indigo will continue to cover all its d
The Indian rupee closed modestly stronger on Tuesday, supported by dollar sales from exporters and modest foreign inflows while traders held onto caution ahead of the U.S. Federal Reserve's policy decision later this week.The rupee rose 0.2% to end the day at 89.8750 per dollar.The currency had risen to 89.8475 earlier in the session but further gains were capped by importers stepping in to lock in hedges at more favourable levels, traders said."Till it (USD/INR) holds below 90.30, there is likely to be decent two-way merchant interest but a break above that could yet again cool activity from exporters," a trader at a Mumbai-based bank said.The currency has declined about 5% in 2025 so far, bogged down by weakness in trade and foreign portfolio flows alongside the drag from a missing trade
Initial public offerings worth USD 20 billion per annum are the "new normal" for India and will become an annualised run rate over the next few years, one of the biggest investment bankers said on Tuesday.The market, which has seen a slew of initial share sales this fiscal, has already witnessed USD 21 billion of issuances in 2025, the same as last year, and we should close the year with over USD 23 billion, given the fact that some large issues like the Rs 10,000 offering from ICICI Prudential AMC are in process, said JP Morgan."Yearly issuance of USD 20 billion is the new normal for India. It is the new watermark and will become an annualized run rate from here on," its head of equity capital markets, Abhinav Bharti, told reporters here.Bharti said nearly a fifth of the demand is getting
Mumbai: Headline share indices are showing calm in the face of unrelenting foreign selling, but beneath the surface, cracks reveal a market under strain. The Advance-Decline Ratio (ADR), a widely watched indicator of overall market health, was at a 10-month low in November, pointing to growing weakness in mid- and small-cap stocks. The monthly average ADR reading of all BSE stocks in November was at 0.89, the lowest since February, when it stood at 0.72, the lowest since March 2020, when the market crashed at the onset of Covid. In December so far, the ratio has declined further to 0.68 as of Monday in the wake of the sell-off in mid-cap and small-cap stocks. A declining ADR means more stocks are falling than gaining and points to a weakening market. The market breadth weakened even as th
