Reliance Industries today reported 1.1 per cent rise in Q4 net profit to Rs 10,362 crore.

The oil-to-telecom conglomerate reported a 9.8 per cent rise in its consolidated net profit at Rs 10,362 crore, or Rs 17.5 per share, in the fourth quarter ended March 31, 2019, as compared to Rs 9,438 crore, or Rs 15.9 a share, in the same period of the previous financial year, the company said in a statement.

This is the highest quarterly profit by any Indian private sector company. State-owned Indian Oil Corp (IOC) holds the distinction of posting the highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013 after it received the full-year fuel subsidy in just one quarter.

Reliance saw its revenue jump by 19.4 per cent to Rs 154,110 crore in January-March 2019, even though they were 9.7 per cent lower than Rs 170,709 crore revenue in the third quarter of the fiscal.

The company opened more retail stores and added 26.6 million new subscribers to its Jio mobile phone service that helped increase the profitability of the venture as its traditional oil refining business witnessed margin pressures on fluctuating international oil prices.

In full year 2018-19, the company posted a record Rs 39,588 crore net profit on a revenue of Rs 622,809 crore.

"During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings," Reliance Industries Chairman and Managing Director Mukesh Ambani said.

The record profit for the year came in a period of heightened volatility in the energy markets, he said, adding pre-tax profit has more than doubled in the last five years to Rs 92,656 crore.

Reliance Industries today reported 1.1 per cent rise in Q4 net profit to Rs 10,362 crore. The oil-to-telecom conglomerate reported a 9.8 per cent rise in its consolidated net profit at Rs 10,362 crore, or Rs 17.

Reliance Industries today reported 1.1 per cent rise in Q4 net profit to Rs 10,362 crore. The oil-to-telecom conglomerate reported a 9.8 per cent rise in its consolidated net profit at Rs 10,362 crore, or Rs 17.5 per share, in the fourth quarter ended March 31, 2019, as compared to Rs 9,438 crore, or Rs 15.9 a share, in the same period of the previous financial year, the company said in a statement. This is the highest quarterly profit by any Indian private sector company. State-owned Indian Oil Corp (IOC) holds the distinction of posting the highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013 after it received the full-year fuel subsidy in just one quarter. Reliance saw its revenue jump by 19.4 per cent to Rs 154,110 crore in January-March 2019, even though they were 9.7 per cent lower than Rs 170,709 crore revenue in the third quarter of the fiscal. The company opened more retail stores and added 26.6 million new subscribers to its Jio mobile phone service that helped increase the profitability of the venture as its traditional oil refining business witnessed margin pressures on fluctuating international oil prices. In full year 2018-19, the company posted a record Rs 39,588 crore net profit on a revenue of Rs 622,809 crore. "During FY 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs 100,000 crore revenue milestone, Jio now serves over 300 million consumers and our petrochemicals business delivered its highest ever earnings," Reliance Industries Chairman and Managing Director Mukesh Ambani said. The record profit for the year came in a period of heightened volatility in the energy markets, he said, adding pre-tax profit has more than doubled in the last five years to Rs 92,656 crore.

Mukesh Ambani's Reliance Industries posts over Rs 10,000 crore Q4 net profit

Shares of <a href="https://www.wionews.com/business-economy/jet-airways-employees-seek-pm-modis-intervention-to-help-them-out-211447">Jet Airways continued to fall</a> for the second day in a row, plummeting over 32 per cent on Thursday, a day after the ailing airline shuttered its operations temporarily.

The scrip tanked 32.23 per cent to close at Rs 163.90 on the BSE. Intra-day, it plunged 34.62 per cent to Rs 158.10 -- 52-week low.

On the National Stock Exchange (NSE), <a href="https://www.wionews.com/business-economy/sensex-nifty-fall-as-jet-airways-stocks-bleed-211510">shares sank 31 per cent</a> to close at Rs 165.75 apiece.

On the traded volume front, 60.41 lakh shares of the company were traded on the BSE and over 5 crore shares on the NSE during the day.

The scrip had fallen 7.62 per cent on Tuesday also. In two days, the company's market valuation has eroded by Rs 1,111.14 crore to Rs 1,861.86 crore on the BSE.

Stock markets were closed Wednesday on account of Mahavir Jayanti.

With lenders deciding not to extend any emergency funds, Jet Airways on Wednesday announced temporary suspension of operations.

Meanwhile, in a statement early Thursday, Jet Airways' lenders said they were reasonably hopeful of a successful bidding process for stake sale.

The announcement came early morning ahead of market opening.

Jet had been on a decline in the past few months as competition from budget airlines hurt its profitability and led to a debt pile. It reported losses for four straight quarters despite sales holding up.

Shares of Jet Airways continued to fall for the second day in a row, plummeting over 32 per cent on Thursday, a day after the ailing airline shuttered its operations temporarily.

Shares of Jet Airways continued to fall for the second day in a row, plummeting over 32 per cent on Thursday, a day after the ailing airline shuttered its operations temporarily. The scrip tanked 32.23 per cent to close at Rs 163.90 on the BSE. Intra-day, it plunged 34.62 per cent to Rs 158.10 -- 52-week low. On the National Stock Exchange (NSE), shares sank 31 per cent to close at Rs 165.75 apiece. On the traded volume front, 60.41 lakh shares of the company were traded on the BSE and over 5 crore shares on the NSE during the day. The scrip had fallen 7.62 per cent on Tuesday also. In two days, the company's market valuation has eroded by Rs 1,111.14 crore to Rs 1,861.86 crore on the BSE. Stock markets were closed Wednesday on account of Mahavir Jayanti. With lenders deciding not to extend any emergency funds, Jet Airways on Wednesday announced temporary suspension of operations. Meanwhile, in a statement early Thursday, Jet Airways' lenders said they were reasonably hopeful of a successful bidding process for stake sale. The announcement came early morning ahead of market opening. Jet had been on a decline in the past few months as competition from budget airlines hurt its profitability and led to a debt pile. It reported losses for four straight quarters despite sales holding up.

After shutting operation, Jet Airways shares sink over 32%

Sensex fell 135.36 points to finish at 39,140.28 on Thursday with the Nifty slipping 34.35 pts to close at 11,752.80 dragged down by banking and Jet Airways stocks.

<a href="https://www.wionews.com/business-economy/jet-airways-employees-seek-pm-modis-intervention-to-help-them-out-211447">Jet Airways' shares had nosedived</a> 34 per cent in early trade to its lowest in 10 years after it halted all flight operations indefinitely on Wednesday night as lenders rejected its plea for emergency funds.

This was the stock's worst-ever intraday drop.

The Nifty PSU Bank index fell as much as 2.4 per cent to its lowest over three weeks, with SBI dropping 2.4 per cent.

Yes Bank Ltd, which is also a lender to Jet, fell by as much as 4.7 per cent in its sharpest intraday drop since February 18.

The benchmark indices had closed at record highs on Tuesday on earnings optimism and forecast of a near-normal monsoon. Markets were closed Wednesday for Mahavir Jayanti.

Top losers in the Sensex pack included Yes Bank, Vedanta, IndusInd Bank, Tata Steel, L&amp;T, SBI, NTPC, Kotak Bank, HDFC, HDFC Bank, PowerGrid, Infosys and ITC, falling up to 4.18 per cent. 
On the other hand, RIL was the biggest gainer on the index, rising 2.79 per cent ahead of its Q4 results.

Earlier in the morning, the benchmark index was 200 points up in early trade, extending gains ahead of RIL's earnings which is due on Thursday.

After hitting a lifetime intra-day high of 39,487.45 on Thursday morning, the 30-share index traded 136.38 points or 0.35 per cent higher at 39,412.02. The NSE Nifty too soared to another record high of 11,856 in early session.

Shares of RIL rallied over 2.30 per cent, adding more that 100 points to the gains on Sensex. The company is scheduled to release its Q4 results after the markets close.

Gainers in the Sensex on Thursday included include Tata Motors, Asian Paints, Hero MotoCorp, HDFC, ICICI Bank, Axis Bank, Maruti, TCS, HDFC Bank and HCL Tech, rising up to 2.04 per cent.

Sensex fell 135.36 points to finish at 39,140.28 on Thursday with the Nifty slipping 34.35 pts to close at 11,752.80 dragged down by banking and Jet Airways stocks.

Sensex fell 135.36 points to finish at 39,140.28 on Thursday with the Nifty slipping 34.35 pts to close at 11,752.80 dragged down by banking and Jet Airways stocks. Jet Airways' shares had nosedived 34 per cent in early trade to its lowest in 10 years after it halted all flight operations indefinitely on Wednesday night as lenders rejected its plea for emergency funds. This was the stock's worst-ever intraday drop. The Nifty PSU Bank index fell as much as 2.4 per cent to its lowest over three weeks, with SBI dropping 2.4 per cent. Yes Bank Ltd, which is also a lender to Jet, fell by as much as 4.7 per cent in its sharpest intraday drop since February 18. The benchmark indices had closed at record highs on Tuesday on earnings optimism and forecast of a near-normal monsoon. Markets were closed Wednesday for Mahavir Jayanti. Top losers in the Sensex pack included Yes Bank, Vedanta, IndusInd Bank, Tata Steel, L&T, SBI, NTPC, Kotak Bank, HDFC, HDFC Bank, PowerGrid, Infosys and ITC, falling up to 4.18 per cent. On the other hand, RIL was the biggest gainer on the index, rising 2.79 per cent ahead of its Q4 results. Earlier in the morning, the benchmark index was 200 points up in early trade, extending gains ahead of RIL's earnings which is due on Thursday. After hitting a lifetime intra-day high of 39,487.45 on Thursday morning, the 30-share index traded 136.38 points or 0.35 per cent higher at 39,412.02. The NSE Nifty too soared to another record high of 11,856 in early session. Shares of RIL rallied over 2.30 per cent, adding more that 100 points to the gains on Sensex. The company is scheduled to release its Q4 results after the markets close. Gainers in the Sensex on Thursday included include Tata Motors, Asian Paints, Hero MotoCorp, HDFC, ICICI Bank, Axis Bank, Maruti, TCS, HDFC Bank and HCL Tech, rising up to 2.04 per cent.

Sensex, Nifty fall as Jet Airways stocks bleed

Around 22,000 employees of <a href="https://www.wionews.com/business-economy/lenders-reject-jet-airways-request-for-rs-400-crore-emergency-funding-sources-211192">Jet Airways</a> on Thursday sought the intervention of Prime Minister Narendra Modi in saving the<a href="https://www.wionews.com/business-economy/post-jet-crisis-indian-airfares-skyrocketing-210648"> airline</a>, which has not been able to pay the salary to its pilots and engineers for the last three and a half months.

The employees of debt-ridden airline demonstrated at Mumbai headquarters of the&nbsp;Jet Airways to press for their demand. The protesting employees blocked the gate of the airline's office.

NCP leader and Jet Airways Officers and Staff Association (AIJOSA) president Kiran Pawaskar is at Mumbai headquarters to meet the management of the airline at its Andheri headquarters.&nbsp;

"Over 16000 employees are without work today and close to 6000 more employees are attached to the company. Seems There is no job security in the aviation sector, earlier Kingfisher, Damania Airways, Modiluft there is so much shut down in the sector. I have written a letter to PM Modi, FM Jaitley, Nitin Gadkari Ji to intervene. There are employees in the age group 45-50, no other airline will employ them. Management says that there is no finance to run company. After &nbsp;May 10 bidding process we will get to know if operations will commence," said Kiran Pawaskar.

"Why isn’t govt giving money to the airline that can survive.PMO can intervene, as all banks are finally under that govt. The aviation industry is being run by the ministry, they should help." he added.

Meanwhile, India's civil aviation regulator has asked Jet Airways to submit a "concrete and credible revival plan" to restart operations suspended by the debt-laden airline.

"DGCA (Directorate General of Civil Aviation) would endeavour to do its best to help the company revive its operations within the set regulatory framework," the regulator said in a statement.

Lenders are carrying out the bidding process for stake sale in the ailing airline, which has a debt burden of more than Rs 8,000 crore.

If Jet fails to attract a buyer and collapses that would put thousands of Jet's employees out of jobs, many of whom have been unpaid for weeks or months, and affect thousands of others whose jobs are tied to the fortunes of the airline.

Facing severe liquidity crisis, Jet Airways on Wednesday night suspended its operations indefinitely. The airline`s revival now depends on successful stake sale initiated by the lenders led by SBI. 
 
(With inputs from agencies)

Around 22,000 employees of Jet Airways on Thursday sought the intervention of Prime Minister Narendra Modi in saving the airline, which has not been able to pay the salary to its pilots and engineers for the last three and a half months.

Around 22,000 employees of Jet Airways on Thursday sought the intervention of Prime Minister Narendra Modi in saving the airline, which has not been able to pay the salary to its pilots and engineers for the last three and a half months. The employees of debt-ridden airline demonstrated at Mumbai headquarters of the Jet Airways to press for their demand. The protesting employees blocked the gate of the airline's office. NCP leader and Jet Airways Officers and Staff Association (AIJOSA) president Kiran Pawaskar is at Mumbai headquarters to meet the management of the airline at its Andheri headquarters. "Over 16000 employees are without work today and close to 6000 more employees are attached to the company. Seems There is no job security in the aviation sector, earlier Kingfisher, Damania Airways, Modiluft there is so much shut down in the sector. I have written a letter to PM Modi, FM Jaitley, Nitin Gadkari Ji to intervene. There are employees in the age group 45-50, no other airline will employ them. Management says that there is no finance to run company. After May 10 bidding process we will get to know if operations will commence," said Kiran Pawaskar. "Why isn’t govt giving money to the airline that can survive.PMO can intervene, as all banks are finally under that govt. The aviation industry is being run by the ministry, they should help." he added. Meanwhile, India's civil aviation regulator has asked Jet Airways to submit a "concrete and credible revival plan" to restart operations suspended by the debt-laden airline. "DGCA (Directorate General of Civil Aviation) would endeavour to do its best to help the company revive its operations within the set regulatory framework," the regulator said in a statement. Lenders are carrying out the bidding process for stake sale in the ailing airline, which has a debt burden of more than Rs 8,000 crore. If Jet fails to attract a buyer and collapses that would put thousands of Jet's employees out of jobs, many of whom have been unpaid for weeks or months, and affect thousands of others whose jobs are tied to the fortunes of the airline. Facing severe liquidity crisis, Jet Airways on Wednesday night suspended its operations indefinitely. The airline`s revival now depends on successful stake sale initiated by the lenders led by SBI. (With inputs from agencies)

Jet Airways employees seek PM Modi's intervention amid crisis

Hinting at job losses going forward, grounded carrier <a href="https://www.wionews.com/business-economy/jet-airways-to-cancel-operations-temporarily-tonight-after-lenders-refuse-emergency-funds-sources-211219">Jet Airways chief executive Vinay Dube </a>said Wednesday said the airline does not have an "answer" at present on the fate of its 20,000-odd employees during the stake sale process.

The SBI-led consortium of lenders has offered <a href="https://www.wionews.com/business-economy/lenders-reject-jet-airways-request-for-rs-400-crore-emergency-funding-sources-211192">prospective bidders ownership</a> of the airline anywhere between 31.2 per cent and 75 for which it had run an online bidding process between April 8 and 12 and had shortlisted four - Etihad Airways, NIIF, private equity funds TPG Capital and Indigo Partners- who can submit the final bids by May 10.

<iframe width="560" height="315" src="https://www.youtube.com/embed/dyDwhrw2mIA" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

"However, we must also be realistic that the sale process will take some time and will throw up several more challenges for us, many of which we don't have the answer today," Dube said in a communication to the harried employees who have not been paid since March.

"For example, we don't have an answer today to the very important question of what happens to employees during the sale process," he added.

&nbsp;

Nevertheless, he said the leadership team is working on answering such questions alongside the lenders.

Jet owes over three months salaries to 15 per cent of the staff comprising senior management, pilots and engineers. Besides it has also defaulted on the March salary of its entire workforce.

Dube, in the letter said the decision to shut the operations temporarily was taken after painstaking evaluation of all alternatives and guidance and advice of the board.

"A decision like this is never easy to make, but without the interim funding, which we have been repeatedly requesting for, we are simply unable to conduct flight operations in a manner that delivers to the very reasonable expectations of our guests, employees, partners and service providers," he said.

Over the past several weeks and months, the airline has tried every means possible to seek funding, both interim as well as long-term funds, to keep the operations going, but could not succeed, he said.

"Late last night we were informed by SBI, on behalf of the consortium of the lenders, that they are unable to consider our request for interim funding of Rs 983 crores," he said adding, however, this was declined.

But public statements from the airline, and government officials Tuesday said the management was looking for a lifeline of Rs 400 crore.

"But, tomorrow is another day and tomorrow provides us with new hope, new opportunity and new expectationswe are worth investing in, you are worth investing in and we confident that we will be back to share the joy of flying with our fellow-guests once again," Dube signed off with an emotional touch.&nbsp;

Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube said Wednesday said the airline does not have an "answer" at present on the fate of its 20,000-odd employees during the stake sale process.

Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube said Wednesday said the airline does not have an "answer" at present on the fate of its 20,000-odd employees during the stake sale process. The SBI-led consortium of lenders has offered prospective bidders ownership of the airline anywhere between 31.2 per cent and 75 for which it had run an online bidding process between April 8 and 12 and had shortlisted four - Etihad Airways, NIIF, private equity funds TPG Capital and Indigo Partners- who can submit the final bids by May 10. "However, we must also be realistic that the sale process will take some time and will throw up several more challenges for us, many of which we don't have the answer today," Dube said in a communication to the harried employees who have not been paid since March. "For example, we don't have an answer today to the very important question of what happens to employees during the sale process," he added. Nevertheless, he said the leadership team is working on answering such questions alongside the lenders. Jet owes over three months salaries to 15 per cent of the staff comprising senior management, pilots and engineers. Besides it has also defaulted on the March salary of its entire workforce. Dube, in the letter said the decision to shut the operations temporarily was taken after painstaking evaluation of all alternatives and guidance and advice of the board. "A decision like this is never easy to make, but without the interim funding, which we have been repeatedly requesting for, we are simply unable to conduct flight operations in a manner that delivers to the very reasonable expectations of our guests, employees, partners and service providers," he said. Over the past several weeks and months, the airline has tried every means possible to seek funding, both interim as well as long-term funds, to keep the operations going, but could not succeed, he said. "Late last night we were informed by SBI, on behalf of the consortium of the lenders, that they are unable to consider our request for interim funding of Rs 983 crores," he said adding, however, this was declined. But public statements from the airline, and government officials Tuesday said the management was looking for a lifeline of Rs 400 crore. "But, tomorrow is another day and tomorrow provides us with new hope, new opportunity and new expectationswe are worth investing in, you are worth investing in and we confident that we will be back to share the joy of flying with our fellow-guests once again," Dube signed off with an emotional touch.

No answer to what happens to employees during sale process: Jet Airways CEO Vinay Dube

The decision from the cash-stressed company comes shortly after banks refused to provide it with an emergency funding of Rs 400 crore.

Fineprint: After snub from banks, Jet Airways cancels all operations with immediate effect

After a big slump in auto sale in China, all eyes are now on the upcoming Shanghai Auto Show 2019 to gauge the mood of investors. Questions are raised whether the US-China trade war is to be blamed for the recent slump.

China car market: The road ahead

Jet Airways has decided to<a href="https://www.wionews.com/business-economy/lenders-reject-jet-airways-request-for-rs-400-crore-emergency-funding-sources-211192"> ground operations temporarily</a> from Wednesday midnight after lenders refused its request for Rs 400 crore "emergency funds", sources told newswire PTI.

The struggling airways has informed the exchanges that it is "forced to cancel" all operations following banks refusal to extend funds. It will operate its <a href="https://www.wionews.com/business-economy/jet-airways-shares-sink-8-amid-reports-of-temporary-shutdown-of-operations-210939">last international flight tonight </a>before temporarily stopping operations abroad.

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The airline has been defaulting on payments, forcing lessors to retake almost all its planes and it has been operating just about five planes since Tuesday, down over 120 planes from last year.

Jet will be the seventh airline to go down since May 2014 and the 13th one after East West was shuttered. During the past five years airlines like Air Pegasus, Air Costa, Air Carnival, Air Deccan, Air Odisha and Zoom Air have all gone belly up even as the government boasts of double-digits growth for more than four years in tow.

An official announcement of grounding of operations is expected anytime now as the Jet Airways board had on Tuesday authorised chief executive Vinay Dube to make one last appeal to the SBI-led consortium to get a life-line of Rs 400 crore Wednesday, before taking a final call on the future.

"The Jet Airways management's request for Rs 400 crore emergency funds has been rejected," banking sources told PTI.

A source at the Jet Airways also said the airline was likely to shutter soon as the banks have not extended it the required financial support.

"The airline has failed to garner the funds it was desperately looking for to continue operations," he said.

The airline is currently operating only five planes from 123 aircraft in the fleet till last December.

Jet Airways has decided to ground operations temporarily from Wednesday midnight after lenders refused its request for Rs 400 crore "emergency funds", sources told newswire PTI.

Jet Airways has decided to ground operations temporarily from Wednesday midnight after lenders refused its request for Rs 400 crore "emergency funds", sources told newswire PTI. The struggling airways has informed the exchanges that it is "forced to cancel" all operations following banks refusal to extend funds. It will operate its last international flight tonight before temporarily stopping operations abroad. The airline has been defaulting on payments, forcing lessors to retake almost all its planes and it has been operating just about five planes since Tuesday, down over 120 planes from last year. Jet will be the seventh airline to go down since May 2014 and the 13th one after East West was shuttered. During the past five years airlines like Air Pegasus, Air Costa, Air Carnival, Air Deccan, Air Odisha and Zoom Air have all gone belly up even as the government boasts of double-digits growth for more than four years in tow. An official announcement of grounding of operations is expected anytime now as the Jet Airways board had on Tuesday authorised chief executive Vinay Dube to make one last appeal to the SBI-led consortium to get a life-line of Rs 400 crore Wednesday, before taking a final call on the future. "The Jet Airways management's request for Rs 400 crore emergency funds has been rejected," banking sources told PTI. A source at the Jet Airways also said the airline was likely to shutter soon as the banks have not extended it the required financial support. "The airline has failed to garner the funds it was desperately looking for to continue operations," he said. The airline is currently operating only five planes from 123 aircraft in the fleet till last December.

Jet Airways to cancel operations temporarily tonight after lenders refuse 'emergency funds': Sources

Jet Airways crisis: Other Indian airlines which were shut down

Cash-strapped Jet Airways which had requested <a href="https://www.wionews.com/business-economy/jet-airways-shares-sink-8-amid-reports-of-temporary-shutdown-of-operations-210939">for Rs 400 crore funding </a>from banks as a form of "emergency liquidity support" has been rejected, PTI sources said.

Jet Airways has temporarily halted operations after banks rejected the debt-laden carrier's request for emergency funding, three sources familiar with the matter told Reuters newswire&nbsp;on Wednesday.

Jet, in a filing to <a href="https://www.wionews.com/business-economy/post-jet-crisis-indian-airfares-skyrocketing-210648">SBI-led lenders had said </a>that it needed the money to keep operations running. The beleaguered airline has only five planes operating at the moment, down from 120 planes last year.

On Monday, the airline in a letter to its employees had said it planned to extend its suspension of international flights until Thursday as it had not received any interim funding from lenders.

The airline founder Naresh Goyal opted out of the bidding for stake acquisition in the airline as the crisis-hit carrier continued to slide.

Last month, Goyal and his wife Anita Goyal had stepped down from the board of the airline, which has more than Rs 8,000 crore in debt.

Cash-strapped Jet Airways which had requested for Rs 400 crore funding from banks as a form of "emergency liquidity support" has been rejected, PTI sources said.

Cash-strapped Jet Airways which had requested for Rs 400 crore funding from banks as a form of "emergency liquidity support" has been rejected, PTI sources said. Jet Airways has temporarily halted operations after banks rejected the debt-laden carrier's request for emergency funding, three sources familiar with the matter told Reuters newswire on Wednesday. Jet, in a filing to SBI-led lenders had said that it needed the money to keep operations running. The beleaguered airline has only five planes operating at the moment, down from 120 planes last year. On Monday, the airline in a letter to its employees had said it planned to extend its suspension of international flights until Thursday as it had not received any interim funding from lenders. The airline founder Naresh Goyal opted out of the bidding for stake acquisition in the airline as the crisis-hit carrier continued to slide. Last month, Goyal and his wife Anita Goyal had stepped down from the board of the airline, which has more than Rs 8,000 crore in debt.

Lenders reject Jet Airways funding request, flights grounded: Sources

Aviation regulator DGCA has issued a show-cause notice to budget carrier IndiGo's chief operating officer and engineering head over the Pratt &amp; Whitney engines issues, sources close to the development said.

The Directorate General of Civil Aviation (DGCA) is also conducting a special safety audit of the airline's operations and engineering, they said.

Indian carriers IndiGo and GoAir, which have Pratt &amp; Whitney-powered Airbus A320 neo planes, have been facing problems with these engines, manufactured by the US firm since their induction in the fleet three years ago.

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IndiGo Airlines: We confirm there is currently a DGCA (Directorate General of Civil Aviation) audit on, which is combined with the annual main base audit. We've received a limited number of show cause notices and we have responded accordingly. <a href="https://t.co/4KPmRAYmjj">pic.twitter.com/4KPmRAYmjj</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1118475563381874688?ref_src=twsrc%5Etfw">April 17, 2019</a></blockquote>
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"The DGCA issued show-cause notice last week to IndiGo's chief operating officer Wolfgang Prock-Schauer and engineering head S C Gupta over the Pratt &amp; Whitney engines issues," a source said.

"The aviation regulator is also conducting a special safety audit of the airline after coming across issues in its operations and engineering," he said.

Queries sent to Prock-Schauer and IndiGo spokesperson remained unanswered.

When contacted, Director General B S Bhullar said the DGCA carries out detailed audit of all airlines at least once a year. He did comment on the show-cause notice.

"We conduct a detailed audit of all airlines at least once in a year. (Audit of) IndiGo is this month...Some other one (airline) in June. Every audit involves some action," Bhullar told PTI.&nbsp;

Aviation regulator DGCA has issued a show-cause notice to budget carrier IndiGo's chief operating officer and engineering head over the Pratt & Whitney engines issues, sources close to the development said.

Aviation regulator DGCA has issued a show-cause notice to budget carrier IndiGo's chief operating officer and engineering head over the Pratt & Whitney engines issues, sources close to the development said. The Directorate General of Civil Aviation (DGCA) is also conducting a special safety audit of the airline's operations and engineering, they said. Indian carriers IndiGo and GoAir, which have Pratt & Whitney-powered Airbus A320 neo planes, have been facing problems with these engines, manufactured by the US firm since their induction in the fleet three years ago. IndiGo Airlines: We confirm there is currently a DGCA (Directorate General of Civil Aviation) audit on, which is combined with the annual main base audit. We've received a limited number of show cause notices and we have responded accordingly. pic.twitter.com/4KPmRAYmjj — ANI (@ANI) April 17, 2019 × "The DGCA issued show-cause notice last week to IndiGo's chief operating officer Wolfgang Prock-Schauer and engineering head S C Gupta over the Pratt & Whitney engines issues," a source said. "The aviation regulator is also conducting a special safety audit of the airline after coming across issues in its operations and engineering," he said. Queries sent to Prock-Schauer and IndiGo spokesperson remained unanswered. When contacted, Director General B S Bhullar said the DGCA carries out detailed audit of all airlines at least once a year. He did comment on the show-cause notice. "We conduct a detailed audit of all airlines at least once in a year. (Audit of) IndiGo is this month...Some other one (airline) in June. Every audit involves some action," Bhullar told PTI.

DGCA issues notice to IndiGo over P&W engine, conducts safety audit

Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in<a href="https://www.wionews.com/business-economy/oil-prices-edge-higher-on-opec-cuts-sanctions-on-iran-venezuela-209184"> China and a fall in US&nbsp;crude</a> stocks which defied expectations and signalled firm demand, while global supply remained tight.

International benchmark Brent crude futures were up 28 cents, or 0.39 per cent, at $72 by 0910 GMT, having hit an intraday peak of $72.24.

US&nbsp;West Texas Intermediate (WTI) crude futures were at $64.39 per barrel, up 34 cents or 0.53 per cent and just shy of a 2019 high of $64.79 hit last week.

China's economy grew by 6.4 per cent in the first quarter, official data showed, defying expectations for a further slowdown and assuaging global markets as a US-China trade deal also appears near.

Refinery throughput in China - the world's second-largest crude user - rose 3.2 per cent in March from a year earlier to 12.49 million barrels per day (bpd).

"The demand side of the equation got a substantial fillip via today's China data suggesting prices will continue to move higher on improving global growth and risk sentiment," said Stephen Innes, head of trading at SPI Asset Management.

Prices have been supported this year by a pact reached by the Organization of the Petroleum Exporting Countries and allies, including Russia, to limit their oil output by 1.2 million bpd.

Global supply has been tightened further by US&nbsp;sanctions on OPEC members Venezuela and Iran.

Iran's crude exports have dropped in April to their lowest daily level this year, tanker data showed and industry sources said, suggesting a drawdown in buyer interest ahead of expected further pressure from Washington.

"Buyers are shying away in view of US&nbsp;policy uncertainty regarding waivers to import Iranian crude oil," BNP Paribas strategist Harry Tchilinguirian told the Reuters Global Oil Forum.

In June, OPEC and its partners will decide whether to extend their agreement, but Russia's willingness to stick with the cuts now looks less clear.

Gazprom Neft, the oil arm of Russian gas company Gazprom, expects the global oil deal to end in the first half of the year, a company official said on Tuesday.

An unexpected drop in US&nbsp;crude inventories also supported oil prices. Stockpiles fell by 3.1 million barrels in the week ended April 12 to 452.7 million barrels, data from the American Petroleum Institute (API) showed.

Official data on US&nbsp;inventories from the Energy Information Administration is due on Wednesday.

Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in US crude stocks which defied expectations and signalled firm demand, while global supply remained tight.

Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in US crude stocks which defied expectations and signalled firm demand, while global supply remained tight. International benchmark Brent crude futures were up 28 cents, or 0.39 per cent, at $72 by 0910 GMT, having hit an intraday peak of $72.24. US West Texas Intermediate (WTI) crude futures were at $64.39 per barrel, up 34 cents or 0.53 per cent and just shy of a 2019 high of $64.79 hit last week. China's economy grew by 6.4 per cent in the first quarter, official data showed, defying expectations for a further slowdown and assuaging global markets as a US-China trade deal also appears near. Refinery throughput in China - the world's second-largest crude user - rose 3.2 per cent in March from a year earlier to 12.49 million barrels per day (bpd). "The demand side of the equation got a substantial fillip via today's China data suggesting prices will continue to move higher on improving global growth and risk sentiment," said Stephen Innes, head of trading at SPI Asset Management. Prices have been supported this year by a pact reached by the Organization of the Petroleum Exporting Countries and allies, including Russia, to limit their oil output by 1.2 million bpd. Global supply has been tightened further by US sanctions on OPEC members Venezuela and Iran. Iran's crude exports have dropped in April to their lowest daily level this year, tanker data showed and industry sources said, suggesting a drawdown in buyer interest ahead of expected further pressure from Washington. "Buyers are shying away in view of US policy uncertainty regarding waivers to import Iranian crude oil," BNP Paribas strategist Harry Tchilinguirian told the Reuters Global Oil Forum. In June, OPEC and its partners will decide whether to extend their agreement, but Russia's willingness to stick with the cuts now looks less clear. Gazprom Neft, the oil arm of Russian gas company Gazprom, expects the global oil deal to end in the first half of the year, a company official said on Tuesday. An unexpected drop in US crude inventories also supported oil prices. Stockpiles fell by 3.1 million barrels in the week ended April 12 to 452.7 million barrels, data from the American Petroleum Institute (API) showed. Official data on US inventories from the Energy Information Administration is due on Wednesday.

International oil prices at record high in 2019

<a href="https://www.google.com/url?q=https://www.wionews.com/world/us-has-no-evidence-of-backdoor-spying-in-5g-technology-huawei-chairman-199966&amp;sa=U&amp;ved=0ahUKEwi8ksnCgtThAhWHPo8KHc49AWIQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw1r-cOC1BIIrlXmesaFSf5P">Huawei </a>Technologies, one of the world's biggest smartphone makers, has not had talks with Apple Inc about supplying it with 5G chipsets, Rotating Chairman Ken Hu said on Tuesday.

Hu made the remark at the company's annual global analyst summit at its headquarters in Shenzhen in southern China. His comment comes after founder Ren Zhengfei told CNBC that Huawei was "open" to selling its fifth generation (5G) chips to Apple.

"We have not had discussions with Apple on this issue," Hu said, reiterating that Huawei does not plan to become a chipset vendor at this time. He also said he looked forward to Apple's competition in the 5G phone market.

Hu said Huawei had secured 40 commercial contracts to build 5G telecommunications infrastructure as at the end of March, up from a previously disclosed tally of more than 30.

Huawei's outlook has come under a cloud over the past year with the United States voicing concerns that its equipment could be used by the Chinese government for espionage. Washington has also urged allies to ban Huawei from building 5G mobile networks.

Huawei has dismissed the security concerns as unfounded.

Huawei is also the world's largest telecommunications equipment maker. Its in-house semiconductor arm, HiSilicon, also designs chipsets that are used in its products.

Huawei founder Ren Zhengfei said in an interview with CNBC this week that the company is "open to" selling its 5G modem chips to Apple, without elaborating.

His comments came after repeated denials from Huawei that it had any intention of becoming a chip vendor to compete against the likes of Qualcomm and Intel.

Huawei in January launched its 5G modem Balong 5000, which it said is the industry's most powerful, as well as a 5G base station chipset dubbed Tiangang.

The company last month reported a 25 per cent rise in net profit in 2018 to 59.3 billion yuan ($9 billion), even as revenue from its network equipment business fell 1.3 per cent to 294 billion yuan due to telecommunications industry investment cycles.

($1 = 6.7086 Chinese yuan renminbi)

Huawei Technologies, one of the world's biggest smartphone makers, has not had talks with Apple Inc about supplying it with 5G chipsets, Rotating Chairman Ken Hu said on Tuesday.

Huawei Technologies, one of the world's biggest smartphone makers, has not had talks with Apple Inc about supplying it with 5G chipsets, Rotating Chairman Ken Hu said on Tuesday. Hu made the remark at the company's annual global analyst summit at its headquarters in Shenzhen in southern China. His comment comes after founder Ren Zhengfei told CNBC that Huawei was "open" to selling its fifth generation (5G) chips to Apple. "We have not had discussions with Apple on this issue," Hu said, reiterating that Huawei does not plan to become a chipset vendor at this time. He also said he looked forward to Apple's competition in the 5G phone market. Hu said Huawei had secured 40 commercial contracts to build 5G telecommunications infrastructure as at the end of March, up from a previously disclosed tally of more than 30. Huawei's outlook has come under a cloud over the past year with the United States voicing concerns that its equipment could be used by the Chinese government for espionage. Washington has also urged allies to ban Huawei from building 5G mobile networks. Huawei has dismissed the security concerns as unfounded. Huawei is also the world's largest telecommunications equipment maker. Its in-house semiconductor arm, HiSilicon, also designs chipsets that are used in its products. Huawei founder Ren Zhengfei said in an interview with CNBC this week that the company is "open to" selling its 5G modem chips to Apple, without elaborating. His comments came after repeated denials from Huawei that it had any intention of becoming a chip vendor to compete against the likes of Qualcomm and Intel. Huawei in January launched its 5G modem Balong 5000, which it said is the industry's most powerful, as well as a 5G base station chipset dubbed Tiangang. The company last month reported a 25 per cent rise in net profit in 2018 to 59.3 billion yuan ($9 billion), even as revenue from its network equipment business fell 1.3 per cent to 294 billion yuan due to telecommunications industry investment cycles. ($1 = 6.7086 Chinese yuan renminbi)

Huawei says not discussed 5G chipsets with Apple - chairman

IT services firm Wipro said on Tuesday some of its employee accounts may have been hacked due to an advanced phishing campaign and that the company had launched an investigation to contain any potential impact.&nbsp;

The Bengaluru-based company was responding to a Reuters query after cybersecurity blog KrebsOnSecurity said Wipro's systems had been breached and were being used to launch attacks against some of its clients.

KrebsOnSecurity, citing anonymous sources, said Wipro's systems were being used to target at least a dozen customer systems.

"We detected a potentially abnormal activity in a few employee accounts on our network due to an advanced phishing campaign," Wipro said in an emailed statement.&nbsp;

The company also said it had retained an independent forensic firm to assist in the investigation

Wipro did not say which clients, if any, had been compromised. Wipro is scheduled to report fourth-quarter results later in the day.

Larger rivals Tata Consultancy Services Ltd and Infosys Ltd kicked off the corporate results season on Friday, saying they expect continued strong growth in the new financial year after posting strong fourth-quarter numbers.

IT services firm Wipro said on Tuesday some of its employee accounts may have been hacked due to an advanced phishing campaign and that the company had launched an investigation to contain any potential impact.

IT services firm Wipro said on Tuesday some of its employee accounts may have been hacked due to an advanced phishing campaign and that the company had launched an investigation to contain any potential impact. The Bengaluru-based company was responding to a Reuters query after cybersecurity blog KrebsOnSecurity said Wipro's systems had been breached and were being used to launch attacks against some of its clients. KrebsOnSecurity, citing anonymous sources, said Wipro's systems were being used to target at least a dozen customer systems. "We detected a potentially abnormal activity in a few employee accounts on our network due to an advanced phishing campaign," Wipro said in an emailed statement. The company also said it had retained an independent forensic firm to assist in the investigation Wipro did not say which clients, if any, had been compromised. Wipro is scheduled to report fourth-quarter results later in the day. Larger rivals Tata Consultancy Services Ltd and Infosys Ltd kicked off the corporate results season on Friday, saying they expect continued strong growth in the new financial year after posting strong fourth-quarter numbers.

Wipro investigating potential breach of employee accounts

In a bid to expand its manufacturing operations in the country, Taiwanese smartphone manufacturer Foxconn going to start mass production of <a href="https://www.wionews.com/india-news/apple-ceo-tim-cook-lauds-iphone-photos-at-chennai-photo-biennale-by-school-children-201776">Apple's iPhone</a> in India.

“In the future, we will play a very important role in India's smartphone industry,” Foxconn Technology Group Chairman Terry Gou said at an event in Taiwan.&nbsp; 
 
Apple's Bengaluru plant has been producing the older model of the phones but now will expand manufacturing to more recent models.

Foxconn is prepared to begin preliminary creation of the most recent iPhones in the nation before it begins full-scale assembly at its industrial facility outside Chennai at Sriperumbudur. 
 
A report in December said Apple would begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019.

Founded in 1974, the Foxconn group has grown to become the world`s biggest contract manufacturer with T$5.2 trillion ($168.52 billion) in annual revenue, assembling goods for Apple, SoftBank Group Corp and other global tech firms. It relies on Apple for more than half of annual revenue, according to analysts.

Foxconn Technology chairman Terry Gou, who owns 9.4 per cent of Foxconn as its top shareholder, is Taiwan's richest person with a net worth of $7.6 billion, according to Forbes.

Last month, Foxconn reported a smaller than expected fall in quarterly profit, despite warning signs from key customers including Apple that demand for tech electronics was softening.

In a bid to expand its manufacturing operations in the country, Taiwanese smartphone manufacturer Foxconn going to start mass production of Apple's iPhone in India.

In a bid to expand its manufacturing operations in the country, Taiwanese smartphone manufacturer Foxconn going to start mass production of Apple's iPhone in India. “In the future, we will play a very important role in India's smartphone industry,” Foxconn Technology Group Chairman Terry Gou said at an event in Taiwan. Apple's Bengaluru plant has been producing the older model of the phones but now will expand manufacturing to more recent models. Foxconn is prepared to begin preliminary creation of the most recent iPhones in the nation before it begins full-scale assembly at its industrial facility outside Chennai at Sriperumbudur. A report in December said Apple would begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019. Founded in 1974, the Foxconn group has grown to become the world`s biggest contract manufacturer with T$5.2 trillion ($168.52 billion) in annual revenue, assembling goods for Apple, SoftBank Group Corp and other global tech firms. It relies on Apple for more than half of annual revenue, according to analysts. Foxconn Technology chairman Terry Gou, who owns 9.4 per cent of Foxconn as its top shareholder, is Taiwan's richest person with a net worth of $7.6 billion, according to Forbes. Last month, Foxconn reported a smaller than expected fall in quarterly profit, despite warning signs from key customers including Apple that demand for tech electronics was softening.

A shift from China to India: Foxconn set for mass production of iPhones in Chennai

The BSE benchmark Sensex jumped over 200 points in early trade Tuesday led by gains in banking, metal, oil and gas, telecom and auto stocks, amid unabated foreign fund inflows and positive global cues.

The 30-share index was trading 239.11 points or 0.61 per cent higher at 39,144.95, and the NSE Nifty was trading 63.35 points, or 0.54 per cent, up at 11,753.70 in early session.

In the previous session, the BSE index settled 138.73 points, or 0.36 per cent, higher at 38,905.84, while the broader Nifty rose 46.90 points, or 0.40 per cent, to close at 11,690.35.

According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, Q4FY19 earnings season will remain crucial for further upside in the market.

"The rally in the market has been mainly due to aggressive buying by the FIIs; and for valuations to sustain, there needs to be an uptick in earnings growth this quarter," he said.

Foreign institutional investors (FIIs) purchased equity worth Rs 713.22 crore on Monday, and domestic institutional investors (DIIs) bought equities to the tune of Rs 581.36 crore, provisional data available with stock exchanges showed.

Top gainers in early trade include ICICI Bank, Vedanta, Coal India, M&amp;M, Asian Paints, Hero MotoCorp, Maruti, IndusInd Bank, Sun Pharma, RIL and HCL Tech, rising up to 2.67 per cent.

On the other hand, Bharti Airtel, Infosys, Tata Motors, Tata Steel and HUL were the only losers in the Sensex pack, shedding up to 0.65 per cent.

Meanwhile, the rupee depreciated marginally to 69.49 against the US dollar in early trade.

Brent crude futures, the global oil benchmark, was 0.25 per cent lower at USD 71 per barrel.

Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were positive in early trade.

The BSE benchmark Sensex jumped over 200 points in early trade Tuesday led by gains in banking, metal, oil and gas, telecom and auto stocks, amid unabated foreign fund inflows and positive global cues.

The BSE benchmark Sensex jumped over 200 points in early trade Tuesday led by gains in banking, metal, oil and gas, telecom and auto stocks, amid unabated foreign fund inflows and positive global cues. The 30-share index was trading 239.11 points or 0.61 per cent higher at 39,144.95, and the NSE Nifty was trading 63.35 points, or 0.54 per cent, up at 11,753.70 in early session. In the previous session, the BSE index settled 138.73 points, or 0.36 per cent, higher at 38,905.84, while the broader Nifty rose 46.90 points, or 0.40 per cent, to close at 11,690.35. According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, Q4FY19 earnings season will remain crucial for further upside in the market. "The rally in the market has been mainly due to aggressive buying by the FIIs; and for valuations to sustain, there needs to be an uptick in earnings growth this quarter," he said. Foreign institutional investors (FIIs) purchased equity worth Rs 713.22 crore on Monday, and domestic institutional investors (DIIs) bought equities to the tune of Rs 581.36 crore, provisional data available with stock exchanges showed. Top gainers in early trade include ICICI Bank, Vedanta, Coal India, M&M, Asian Paints, Hero MotoCorp, Maruti, IndusInd Bank, Sun Pharma, RIL and HCL Tech, rising up to 2.67 per cent. On the other hand, Bharti Airtel, Infosys, Tata Motors, Tata Steel and HUL were the only losers in the Sensex pack, shedding up to 0.65 per cent. Meanwhile, the rupee depreciated marginally to 69.49 against the US dollar in early trade. Brent crude futures, the global oil benchmark, was 0.25 per cent lower at USD 71 per barrel. Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were positive in early trade.

Sensex jumps over 200 points; Nifty above 11,750

India's goods exports picked up in March, boosted by the weaker rupee despite a slowdown in global trade growth, helping the country to contain its trade deficit despite a surge in oil imports.

Merchandise exports rose 11.02 per cent to $32.55 billion in March from a year earlier, while imports were up 1.44 per cent to $43.44 billion during the same period, a statement by the trade ministry said on Monday.

Oil imports, the biggest item in the import bill, rose 5.55 per cent to $11.75 billion, driven by a rise in Indian demand and increases in global crude prices.

India meets nearly 80 per cent of its fuel demand through imports.

The ministry does not issue separate data for trade in services. That is issued in about a month's time by the Reserve Bank of India.

However, the ministry did issue estimates for goods and services trade in the year to March 31, based on the full-year merchandise trade figures and the first 11 months of services trade.

Total exports of goods and services were estimated at $535.45 billion in the financial year, up 7.97 per cent from a year earlier, compared with estimated imports of $631.29 billion, up 8.48 per cent, the statement said.

Prime Minister Narendra Modi in 2015 set a target to double India's exports of goods and services to $900 billion, raising the country's share of global exports to 3.5 per cent from about two per cent, by 2020.

Modi, who is seeking a second term in a general election that began last week, has been criticised by industry and opposition parties for not doing enough to boost exports and create jobs in the manufacturing sector.

"The prospects for exports look very challenging going forward," said Ravi Sehgal, chairman of the Engineering Export Promotion Council, who referred to a slowdown in global trade amid trade tensions between the United States and China.

Exporters said the new government should make exports its top priority, as this sector has a huge potential for creating jobs, the most pressing need for the country.

India's elections will end on May 19 and the results are expected to be announced on May 23. The latest polls show Modi's party, with support from allies, is likely to form the next government.

India's goods exports picked up in March, boosted by the weaker rupee despite a slowdown in global trade growth, helping the country to contain its trade deficit despite a surge in oil imports.

India's goods exports picked up in March, boosted by the weaker rupee despite a slowdown in global trade growth, helping the country to contain its trade deficit despite a surge in oil imports. Merchandise exports rose 11.02 per cent to $32.55 billion in March from a year earlier, while imports were up 1.44 per cent to $43.44 billion during the same period, a statement by the trade ministry said on Monday. Oil imports, the biggest item in the import bill, rose 5.55 per cent to $11.75 billion, driven by a rise in Indian demand and increases in global crude prices. India meets nearly 80 per cent of its fuel demand through imports. The ministry does not issue separate data for trade in services. That is issued in about a month's time by the Reserve Bank of India. However, the ministry did issue estimates for goods and services trade in the year to March 31, based on the full-year merchandise trade figures and the first 11 months of services trade. Total exports of goods and services were estimated at $535.45 billion in the financial year, up 7.97 per cent from a year earlier, compared with estimated imports of $631.29 billion, up 8.48 per cent, the statement said. Prime Minister Narendra Modi in 2015 set a target to double India's exports of goods and services to $900 billion, raising the country's share of global exports to 3.5 per cent from about two per cent, by 2020. Modi, who is seeking a second term in a general election that began last week, has been criticised by industry and opposition parties for not doing enough to boost exports and create jobs in the manufacturing sector. "The prospects for exports look very challenging going forward," said Ravi Sehgal, chairman of the Engineering Export Promotion Council, who referred to a slowdown in global trade amid trade tensions between the United States and China. Exporters said the new government should make exports its top priority, as this sector has a huge potential for creating jobs, the most pressing need for the country. India's elections will end on May 19 and the results are expected to be announced on May 23. The latest polls show Modi's party, with support from allies, is likely to form the next government.

India's March exports pick up, help contain trade deficit

Shares of Jet Airways plunged nearly 8 per cent Tuesday amid reports that the company is <a href="https://www.wionews.com/business-economy/jet-airways-crisis-naresh-goyal-opts-out-of-bidding-process-shut-down-threat-looms-210852">likely to temporarily shut down its operations</a>.

The scrip tumbled 7.62 per cent to close at Rs 241.85 on the BSE. During the day, it plummeted 18.56 per cent to Rs 213.20.

At the NSE, shares plunged 7.71 per cent to close at Rs 241.50.

On the traded volume front, 48.67 lakh shares of the company were traded on the BSE and over five crore shares on the NSE during the day.

The company's market valuation also fell by Rs 225.65 crore to Rs 2,747.35 crore on the BSE.

The BSE has sought clarification from Jet Airways (India) Ltd with reference to news that it is likely to temporarily shut down its operations.

Jet Airways is grappling with an acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations.

The management of cash-strapped Jet Airways will take a final call by end of the day on whether to continue operations as the airline makes last-ditch efforts to raise funds, sources said Tuesday.

The carrier, which was founded more than 25 years ago, has already suspended international operations till April 18.

On Monday, Jet Airways CEO Vinay Dube said the lenders could not decide on the emergency funding and that the airline's board would meet on Tuesday to take a call on the future.

Shares of Jet Airways plunged nearly 8 per cent Tuesday amid reports that the company is likely to temporarily shut down its operations. The scrip tumbled 7.62 per cent to close at Rs 241.

Shares of Jet Airways plunged nearly 8 per cent Tuesday amid reports that the company is likely to temporarily shut down its operations. The scrip tumbled 7.62 per cent to close at Rs 241.85 on the BSE. During the day, it plummeted 18.56 per cent to Rs 213.20. At the NSE, shares plunged 7.71 per cent to close at Rs 241.50. On the traded volume front, 48.67 lakh shares of the company were traded on the BSE and over five crore shares on the NSE during the day. The company's market valuation also fell by Rs 225.65 crore to Rs 2,747.35 crore on the BSE. The BSE has sought clarification from Jet Airways (India) Ltd with reference to news that it is likely to temporarily shut down its operations. Jet Airways is grappling with an acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations. The management of cash-strapped Jet Airways will take a final call by end of the day on whether to continue operations as the airline makes last-ditch efforts to raise funds, sources said Tuesday. The carrier, which was founded more than 25 years ago, has already suspended international operations till April 18. On Monday, Jet Airways CEO Vinay Dube said the lenders could not decide on the emergency funding and that the airline's board would meet on Tuesday to take a call on the future.

Jet Airways shares sink 8% amid reports of temporary shutdown of operations

Indian aviation regulator, Directorate General of Civil Aviation, Government of India (DGCA) on Tuesday said that it continues to monitor the rise in domestic airfares and is engaging with airlines "when <a href="https://www.wionews.com/business-economy/post-jet-crisis-indian-airfares-skyrocketing-210648">spurt in airfares</a> is observed at any sector for appropriate action".&nbsp;

"We monitor domestic airfares daily particularly on high-density routes and routes where an alternate mode of transport is not available or is difficult. Based on the monitoring process, DGCA engages with airlines when spurt in airfares is observed at any sector for appropriate action," the statement read.&nbsp;

Today again DGCA held a meeting with airline representatives on the "issue airlines were advised to continue to monitor at their level and provide information to DGCA to keep fares low as far as possible."&nbsp;

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DGCA: Airlines representative also intimated DGCA that they have removed the few higher buckets from sale and offering tickets to passengers in lower fare buckets. DGCA will continue to monitor fare movement on daily basis and engage with airline for appropriate action.
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The DGCA apprised media of the fact that various airlines representative intimated DGCA that they have removed the few higher buckets from the sale and offering tickets to passengers in lower fare buckets.&nbsp;

"DGCA will continue to monitor fare movement on a daily basis and engage with the airline for appropriate action," the watchdog stated.

Airfares in India have been on the rise for the last one month, ever since Jet Airways suspended its domestic and international flights.

With only seven Jet aircraft operating out of its fleet of 124, its competitors seemed to have cashed in on the opportunity to hike fares, thereby adding to commuters' woes.

Last month, the DGCA had said no diktat was issued to the airlines on hiking airfares. "We have just advised them that to increase their capacity to keep airfares in check," it added.

The Indian aviation market has seen a sharp increase in airfares in the past few months due to the suspension of Boeing 737 MAX aircraft as well as the ensuing Jet Airways crisis.

(With inputs from ANI) &nbsp;

Indian aviation regulator, Directorate General of Civil Aviation, Government of India (DGCA) on Tuesday said that it continues to monitor the rise in domestic airfares and is engaging with airlines "when spurt in airfares is observed at any sector for appropriate action".

Indian aviation regulator, Directorate General of Civil Aviation, Government of India (DGCA) on Tuesday said that it continues to monitor the rise in domestic airfares and is engaging with airlines "when spurt in airfares is observed at any sector for appropriate action". "We monitor domestic airfares daily particularly on high-density routes and routes where an alternate mode of transport is not available or is difficult. Based on the monitoring process, DGCA engages with airlines when spurt in airfares is observed at any sector for appropriate action," the statement read. Today again DGCA held a meeting with airline representatives on the "issue airlines were advised to continue to monitor at their level and provide information to DGCA to keep fares low as far as possible." DGCA: Airlines representative also intimated DGCA that they have removed the few higher buckets from sale and offering tickets to passengers in lower fare buckets. DGCA will continue to monitor fare movement on daily basis and engage with airline for appropriate action. — ANI (@ANI) April 16, 2019 × The DGCA apprised media of the fact that various airlines representative intimated DGCA that they have removed the few higher buckets from the sale and offering tickets to passengers in lower fare buckets. "DGCA will continue to monitor fare movement on a daily basis and engage with the airline for appropriate action," the watchdog stated. Airfares in India have been on the rise for the last one month, ever since Jet Airways suspended its domestic and international flights. With only seven Jet aircraft operating out of its fleet of 124, its competitors seemed to have cashed in on the opportunity to hike fares, thereby adding to commuters' woes. Last month, the DGCA had said no diktat was issued to the airlines on hiking airfares. "We have just advised them that to increase their capacity to keep airfares in check," it added. The Indian aviation market has seen a sharp increase in airfares in the past few months due to the suspension of Boeing 737 MAX aircraft as well as the ensuing Jet Airways crisis. (With inputs from ANI)

Will continue to monitor fare movement on daily basis, engage with airlines for appropriate action: DGCA 

The stock <a href="https://www.wionews.com/business-economy/markets-hit-record-highs-sensex-surges-over-450-points-nifty-crosses-11800-210875">market&nbsp;on Tuesday</a> ended on a positive note with BSE Sensex zooming 369.80 points to close at the record high of 39,275.64. Nifty, on the other hand, closed 96 points up at 11,787.15.

The domestic stock market earlier in the day hit record highs. Sensex surged over 450 points and Nifty crossed the 11,800-mark.&nbsp;

Market experts attributed the surge to index heavyweights ICICI Bank Ltd and Reliance Industries Ltd, amid sustained buying from foreign investors, news agency ANI reported.

Investors were also optimistic as the earnings season got off to a good start and the state-run weather office forecast average monsoon rains this year.

The broader NSE Nifty was up 115 points at 11,805.75 as of 02:40 pm and the benchmark BSE Sensex was up 455 points at 39,361.52.

The stock market on Tuesday ended on a positive note with BSE Sensex zooming 369.80 points to close at the record high of 39,275.64. Nifty, on the other hand, closed 96 points up at 11,787.

The stock market on Tuesday ended on a positive note with BSE Sensex zooming 369.80 points to close at the record high of 39,275.64. Nifty, on the other hand, closed 96 points up at 11,787.15. The domestic stock market earlier in the day hit record highs. Sensex surged over 450 points and Nifty crossed the 11,800-mark. Market experts attributed the surge to index heavyweights ICICI Bank Ltd and Reliance Industries Ltd, amid sustained buying from foreign investors, news agency ANI reported. Investors were also optimistic as the earnings season got off to a good start and the state-run weather office forecast average monsoon rains this year. The broader NSE Nifty was up 115 points at 11,805.75 as of 02:40 pm and the benchmark BSE Sensex was up 455 points at 39,361.52.

Markets end in green; Sensex closes at record high, zooms over 350 points

Indian shares extended gains to record highs on Tuesday, led by index heavyweights ICICI Bank Ltd and Reliance Industries Ltd, amid sustained buying from foreign investors.

Investors were also optimistic as the earnings season got off to a good start and the state-run weather office forecast average monsoon rains this year.

The rally in Indian stocks is not across the board - mid-caps are not moving, which is an indication that foreign institutional investors are in the market and are driving it higher, said R K Gupta, managing director at Taurus Asset Management.

Foreign investors bought shares worth a net $420.2 million in the last three sessions, taking the total purchase for the month to $2.01 billion.

Average monsoon rains this year would help to reduce bad loan levels at banks, and improve GDP, according to Gupta.

The broader NSE Nifty was up 115 points at 11,805.75 as of 02:40pm and the benchmark BSE Sensex was up 455 points at 39,361.52.

Meanwhile, Asian stocks kept below a nine-month high after disappointing bank earnings stalled Wall Street, though recent signs that the global economy is likely to avoid a sharper downturn helped limit the losses.

ICICI Bank rose as much as 3.3 per cent in its sharpest intraday gain in five weeks and was the top boost to both indexes, after reports that Goldman Sachs raised its target price to Rs 492 from Rs 451.

Reliance Industries rose 1.5 per cent to its highest since April 5, while SpiceJet Ltd surged as much as 8.1 per cent to its highest since May 2018 after the low-cost carrier said it would expand its Bombardier fleet by inducting five more Q400 aircraft.

Among losers, Wipro Ltd fell as much as 0.9 per cent after the IT services firm said it was investigating a potential breach of some of its employee accounts due to an advanced phishing campaign.

The company is due to release its fourth-quarter results today.

Indian shares extended gains to record highs on Tuesday, led by index heavyweights ICICI Bank Ltd and Reliance Industries Ltd, amid sustained buying from foreign investors.

Indian shares extended gains to record highs on Tuesday, led by index heavyweights ICICI Bank Ltd and Reliance Industries Ltd, amid sustained buying from foreign investors. Investors were also optimistic as the earnings season got off to a good start and the state-run weather office forecast average monsoon rains this year. The rally in Indian stocks is not across the board - mid-caps are not moving, which is an indication that foreign institutional investors are in the market and are driving it higher, said R K Gupta, managing director at Taurus Asset Management. Foreign investors bought shares worth a net $420.2 million in the last three sessions, taking the total purchase for the month to $2.01 billion. Average monsoon rains this year would help to reduce bad loan levels at banks, and improve GDP, according to Gupta. The broader NSE Nifty was up 115 points at 11,805.75 as of 02:40pm and the benchmark BSE Sensex was up 455 points at 39,361.52. Meanwhile, Asian stocks kept below a nine-month high after disappointing bank earnings stalled Wall Street, though recent signs that the global economy is likely to avoid a sharper downturn helped limit the losses. ICICI Bank rose as much as 3.3 per cent in its sharpest intraday gain in five weeks and was the top boost to both indexes, after reports that Goldman Sachs raised its target price to Rs 492 from Rs 451. Reliance Industries rose 1.5 per cent to its highest since April 5, while SpiceJet Ltd surged as much as 8.1 per cent to its highest since May 2018 after the low-cost carrier said it would expand its Bombardier fleet by inducting five more Q400 aircraft. Among losers, Wipro Ltd fell as much as 0.9 per cent after the IT services firm said it was investigating a potential breach of some of its employee accounts due to an advanced phishing campaign. The company is due to release its fourth-quarter results today.

Markets hit record highs; Sensex surges over 450 points, Nifty crosses 11,800

<a href="https://www.google.com/url?q=https://www.wionews.com/business-economy/asian-stocks-lifted-by-us-china-trade-talk-hopes-197048&amp;sa=U&amp;ved=0ahUKEwiZoYXHiNThAhUB4XMBHQL4A0kQFggIMAE&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw38o17yfMz2DQnFEgxt2-mZ">Asian stocks</a> ticked up on Tuesday, staying near a nine-month as hopes of stabilisation in the Chinese economy helped investors shrug off Wall Street's underperformance that followed disappointing bank earnings.

European shares are set to pick up, with futures of London and Frankfurt shares rising 0.2 to 0.3 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, led by gains in China and India.

The index had risen to its highest level since July 2018 the previous day after strong export and banking data from China last week eased investors' concerns about the health of the world's second-largest economy.

Mainland Chinese shares rose 1.7 per cent, partly on brisk home prices data while India's NSE index rose 0.8 per cent to a record high, surpassing its previous peak hit earlier this month. Japan's Nikkei edged up 0.2 per cent.

"Recent Chinese data is boosting confidence in the Chinese economy while earnings have not been bad either," said Yukino Yamada, senior strategist at Daiwa Securities.

"Indian shares are rising on hopes on the country's elections. In the past they have tended to do well during a six-month period leading up to the election as well as one month after the election," she added.

Expectations that Chinese and US trade negotiators would strike a deal soon also underpinned markets.

The<a href="https://www.google.com/url?q=https://www.wionews.com/business-economy/global-markets-asia-stocks-advance-on-us-china-trade-relief-191131&amp;sa=U&amp;ved=0ahUKEwiZoYXHiNThAhUB4XMBHQL4A0kQFggLMAI&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw1gCqNxU-xCFvQdRxRugh64"> US-China</a> trade dispute, signs of slowing global corporate earnings and business investment have all put pressure on riskier assets in the past year, so investors have been quick to lap up positive news.

Wall Street lost ground on Monday, dragged down as underwhelming bank earnings curbed investor enthusiasm. But while all three major US stock indexes edged lower, the S&amp;P 500 remained within a per cent of its record high.

Safe havens such as bonds, which were on the defensive following the recent improvement in investor risk appetite, were given some reprieve.

The 10-year US Treasury yield was at 2.548 per cent, edging back from a four-week high of 2.574 per cent reached on Monday.

Spot gold was a shade lower at $1,286.21 an ounce and headed for its fourth straight days of losses.

Elsewhere in commodities, the recent rally in crude oil prices halted on the prospect of Russia and OPEC boosting production to fight for market share with the United States.&nbsp;

US West Texas Intermediate crude futures were down 0.15 per cent at $63.30 per barrel after losing nearly 0.8 per cent the previous day.

US crude had scaled a five-month high of $64.79 earlier this month.

Oil had rallied on tightening global supplies, as output has fallen in Iran and Venezuela amid signs the United States will further toughen sanctions on those two OPEC producers, and on the threat that renewed fighting could stop production in Libya.

Asian stocks ticked up on Tuesday, staying near a nine-month as hopes of stabilisation in the Chinese economy helped investors shrug off Wall Street's underperformance that followed disappointing bank earnings.

Asian stocks ticked up on Tuesday, staying near a nine-month as hopes of stabilisation in the Chinese economy helped investors shrug off Wall Street's underperformance that followed disappointing bank earnings. European shares are set to pick up, with futures of London and Frankfurt shares rising 0.2 to 0.3 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, led by gains in China and India. The index had risen to its highest level since July 2018 the previous day after strong export and banking data from China last week eased investors' concerns about the health of the world's second-largest economy. Mainland Chinese shares rose 1.7 per cent, partly on brisk home prices data while India's NSE index rose 0.8 per cent to a record high, surpassing its previous peak hit earlier this month. Japan's Nikkei edged up 0.2 per cent. "Recent Chinese data is boosting confidence in the Chinese economy while earnings have not been bad either," said Yukino Yamada, senior strategist at Daiwa Securities. "Indian shares are rising on hopes on the country's elections. In the past they have tended to do well during a six-month period leading up to the election as well as one month after the election," she added. Expectations that Chinese and US trade negotiators would strike a deal soon also underpinned markets. The US-China trade dispute, signs of slowing global corporate earnings and business investment have all put pressure on riskier assets in the past year, so investors have been quick to lap up positive news. Wall Street lost ground on Monday, dragged down as underwhelming bank earnings curbed investor enthusiasm. But while all three major US stock indexes edged lower, the S&P 500 remained within a per cent of its record high. Safe havens such as bonds, which were on the defensive following the recent improvement in investor risk appetite, were given some reprieve. The 10-year US Treasury yield was at 2.548 per cent, edging back from a four-week high of 2.574 per cent reached on Monday. Spot gold was a shade lower at $1,286.21 an ounce and headed for its fourth straight days of losses. Elsewhere in commodities, the recent rally in crude oil prices halted on the prospect of Russia and OPEC boosting production to fight for market share with the United States. US West Texas Intermediate crude futures were down 0.15 per cent at $63.30 per barrel after losing nearly 0.8 per cent the previous day. US crude had scaled a five-month high of $64.79 earlier this month. Oil had rallied on tightening global supplies, as output has fallen in Iran and Venezuela amid signs the United States will further toughen sanctions on those two OPEC producers, and on the threat that renewed fighting could stop production in Libya.

Global Markets: Asia stocks cling to nine-month high on China hopes, Wall Street dented by earnings

Jet Airways founder Naresh Goyal has opted out from bidding for stake acquisition in the ailing airline, sources said today, further deepening the crisis.

The full service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan.

The Jet Airways management, meanwhile, has proposed to suspend all operations of the debt-laden airline at its board meeting, news agency Reuters reported on Tuesday quoting media reports.

<a href="https://www.wionews.com/india-news/jet-airways-pilots-appeal-to-sbi-for-funds-also-ask-pm-to-save-20000-jobs-210501">Jet Airways</a> shares were down as much as 18.53 per cent, their worst session since August 2015.

On Monday, the airline in a letter to its employees said it planned to extend its suspension of international flights until Thursday as it had not received any interim funding from lenders.

Jet has been grounding planes in recent weeks as lessors move to de-register and take back their aircraft, even as the company's lenders sought expressions of interest in the carrier from potential investors.

Local media have reported that as many as six parties have submitted expressions of interest, though it is still far from clear if an acceptable bid will materialise.

<a href="https://www.wionews.com/videos/crisis-at-jet-airways-continues-will-banks-rescue-jet-210739">SBI Capital Markets</a> has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of the domestic lenders to the debt-ridden private carrier.

Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.

Jet Airways founder Naresh Goyal has opted out from bidding for stake acquisition in the ailing airline, sources said today, further deepening the crisis. The full service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan.

Jet Airways founder Naresh Goyal has opted out from bidding for stake acquisition in the ailing airline, sources said today, further deepening the crisis. The full service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan. The Jet Airways management, meanwhile, has proposed to suspend all operations of the debt-laden airline at its board meeting, news agency Reuters reported on Tuesday quoting media reports. Jet Airways shares were down as much as 18.53 per cent, their worst session since August 2015. On Monday, the airline in a letter to its employees said it planned to extend its suspension of international flights until Thursday as it had not received any interim funding from lenders. Jet has been grounding planes in recent weeks as lessors move to de-register and take back their aircraft, even as the company's lenders sought expressions of interest in the carrier from potential investors. Local media have reported that as many as six parties have submitted expressions of interest, though it is still far from clear if an acceptable bid will materialise. SBI Capital Markets has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of the domestic lenders to the debt-ridden private carrier. Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.

Jet Airways crisis: Naresh Goyal opts out of bidding process, shut down threat looms

Wholesale price-based inflation rose for the second consecutive month to 3.18 per cent in March on costlier food and fuel, government data released Monday showed.

The Wholesale Price Index (WPI) based inflation was at 2.93 per cent in February. It was 2.74 per cent in March 2018.

Inflation in food articles hardened with a steep rise in prices of vegetables during March 2019.

Vegetable inflation was at 28.13 per cent in March, up from 6.82 per cent in the previous month. However, inflation in potato cooled substantially to 1.30 per cent, from 23.40 per cent in February.

Inflation in food articles basket was 5.68 per cent during March. 
Inflation in the 'Fuel and power' category also spiked to 5.41 per cent, from 2.23 per cent in February.

The Reserve Bank, which mainly factors in retail inflation for a monetary policy decision, had earlier this month cut interest rates by 0.25 per cent. 
Retail inflation accelerated to 2.86 per cent in March from 2.57 per cent a month ago, data released last week showed.

For the April-September period, the RBI has projected retail inflation at 2.9-3 per cent, mainly due to lower food and fuel prices as well as the expectation of a normal monsoon.

Wholesale price-based inflation rose for the second consecutive month to 3.18 per cent in March on costlier food and fuel, government data released Monday showed.

Wholesale price-based inflation rose for the second consecutive month to 3.18 per cent in March on costlier food and fuel, government data released Monday showed. The Wholesale Price Index (WPI) based inflation was at 2.93 per cent in February. It was 2.74 per cent in March 2018. Inflation in food articles hardened with a steep rise in prices of vegetables during March 2019. Vegetable inflation was at 28.13 per cent in March, up from 6.82 per cent in the previous month. However, inflation in potato cooled substantially to 1.30 per cent, from 23.40 per cent in February. Inflation in food articles basket was 5.68 per cent during March. Inflation in the 'Fuel and power' category also spiked to 5.41 per cent, from 2.23 per cent in February. The Reserve Bank, which mainly factors in retail inflation for a monetary policy decision, had earlier this month cut interest rates by 0.25 per cent. Retail inflation accelerated to 2.86 per cent in March from 2.57 per cent a month ago, data released last week showed. For the April-September period, the RBI has projected retail inflation at 2.9-3 per cent, mainly due to lower food and fuel prices as well as the expectation of a normal monsoon.

WPI inflation spikes to 3.18 pc in March on costlier food, fuel

Domestic equity benchmarks started on a positive note Monday led by gains in IT bellwether TCS, amid sustained foreign fund inflow and positive global cues.

After rising over 100 points in the early session, the 30-share index was trading 67.91 points or 0.18 per cent higher at 38,835.02. The NSE Nifty was trading 21.20 points, or 0.18 per cent, up at 11,664.65 in the early session.

During the past week, the Sensex fell 95.12 points or 0.24 per cent, while the Nifty shed 22.5 points or 0.19 per cent.

Top gainers in the Sensex pack include Tata Motors, TCS, Coal India, HCL Tech, Vedanta, Tata Steel, Hero MotoCorp, ITC, Kotak Bank, Asian Paints, IndusInd Bank and Axis Bank, rising up to 4.12 per cent.

TCS led the gains in early trade after the company Friday reported a 17.7 per cent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter.

According to Rajesh Gopinathan, chief executive officer and managing director at TCS, this is the strongest revenue growth that the firm have had in the last fifteen quarters.

On the other hand, Infosys was the top loser, shedding 2.73 per cent on BSE. The IT major Friday posted a 10.5 per cent rise in consolidated net profit at Rs 4,078 crore for the March 2019 quarter and guided towards 7.5-9.5 per cent growth in revenue for FY 2019-20.

Bharti Airtel, Sun Pharma, M&amp;M, ONGC and Maruti were among the other losers on Sensex.

Meanwhile, foreign institutional investors (FIIs) purchased equity worth Rs 897.45 crore on Friday, while domestic institutional investors (DIIs) sold equities to the tune of Rs 15.99 crore, provisional data available with stock exchanges showed.

The rupee appreciated marginally to 69.17 against the US dollar in early trade.

Brent crude futures, the global oil benchmark, was 0.13 per cent lower at $71.46 per barrel.

Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were positive in early trade.&nbsp;

Domestic equity benchmarks started on a positive note Monday led by gains in IT bellwether TCS, amid sustained foreign fund inflow and positive global cues. After rising over 100 points in the early session, the 30-share index was trading 67.

Domestic equity benchmarks started on a positive note Monday led by gains in IT bellwether TCS, amid sustained foreign fund inflow and positive global cues. After rising over 100 points in the early session, the 30-share index was trading 67.91 points or 0.18 per cent higher at 38,835.02. The NSE Nifty was trading 21.20 points, or 0.18 per cent, up at 11,664.65 in the early session. During the past week, the Sensex fell 95.12 points or 0.24 per cent, while the Nifty shed 22.5 points or 0.19 per cent. Top gainers in the Sensex pack include Tata Motors, TCS, Coal India, HCL Tech, Vedanta, Tata Steel, Hero MotoCorp, ITC, Kotak Bank, Asian Paints, IndusInd Bank and Axis Bank, rising up to 4.12 per cent. TCS led the gains in early trade after the company Friday reported a 17.7 per cent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter. According to Rajesh Gopinathan, chief executive officer and managing director at TCS, this is the strongest revenue growth that the firm have had in the last fifteen quarters. On the other hand, Infosys was the top loser, shedding 2.73 per cent on BSE. The IT major Friday posted a 10.5 per cent rise in consolidated net profit at Rs 4,078 crore for the March 2019 quarter and guided towards 7.5-9.5 per cent growth in revenue for FY 2019-20. Bharti Airtel, Sun Pharma, M&M, ONGC and Maruti were among the other losers on Sensex. Meanwhile, foreign institutional investors (FIIs) purchased equity worth Rs 897.45 crore on Friday, while domestic institutional investors (DIIs) sold equities to the tune of Rs 15.99 crore, provisional data available with stock exchanges showed. The rupee appreciated marginally to 69.17 against the US dollar in early trade. Brent crude futures, the global oil benchmark, was 0.13 per cent lower at $71.46 per barrel. Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were positive in early trade.

Sensex, Nifty start on a positive note; TCS jumps over 3%

Jet Airways CEO Vinay Dube on Monday said that the cash-strapped aviation company has not received interim funding from lenders. Dube announced that the airways will extend the suspension of international flights until April 18, news agency Reuters reported.&nbsp;

The airline, which has a debt of more than $1.2 billion, has had to ground over two-thirds of its fleet over unpaid dues to leasing companies.

Jet Airways pilots body, <a href="https://www.wionews.com/india-news/jet-airways-pilots-appeal-to-sbi-for-funds-also-ask-pm-to-save-20000-jobs-210501">the National Aviator's Guild, on Monday</a>, appealed the State Bank of India (SBI) to release Rs 1,500 crore, which was proposed to be infused in the ailing carrier as part of a debt-restructuring plan last month.

The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.

"We would like to appeal SBI to release Rs 1,500 crore funds for the airline to help it continue operations. We also appeal Prime Minister Narendra Modi to save 20,000 odd jobs at the airline," National Aviator's Guild ( NAG) vice president Adim Valiani told reporters at the airline's headquarter on Monday.&nbsp;

The airline's pilots along with engineers and senior staff were last paid for December 2018. This apart, the airline has also defaulted on the March salary of other categories of employees as well.

Last month, an SBI-led consortium of lenders had taken management control of the airline post a debt-recast deal, following which the lenders had proposed to infuse as much as Rs 1,500 crore to the carrier to keep it afloat till the time it gets an investor, news agency PTI reported.&nbsp;

The Monday meeting with lenders was reportedly expected to take a final decision on the quantum of funds to be infused immediately to avert a possible shut down.&nbsp;

A meeting between the airline management and its major lender SBI last Friday could not take a decision on the fund infusion issue.

(With inputs from agencies)&nbsp; 
&nbsp;

Jet Airways CEO Vinay Dube on Monday said that the cash-strapped aviation company has not received interim funding from lenders. Dube announced that the airways will extend the suspension of international flights until April 18, news agency Reuters reported.

Jet Airways CEO Vinay Dube on Monday said that the cash-strapped aviation company has not received interim funding from lenders. Dube announced that the airways will extend the suspension of international flights until April 18, news agency Reuters reported. The airline, which has a debt of more than $1.2 billion, has had to ground over two-thirds of its fleet over unpaid dues to leasing companies. Jet Airways pilots body, the National Aviator's Guild, on Monday, appealed the State Bank of India (SBI) to release Rs 1,500 crore, which was proposed to be infused in the ailing carrier as part of a debt-restructuring plan last month. The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash. "We would like to appeal SBI to release Rs 1,500 crore funds for the airline to help it continue operations. We also appeal Prime Minister Narendra Modi to save 20,000 odd jobs at the airline," National Aviator's Guild ( NAG) vice president Adim Valiani told reporters at the airline's headquarter on Monday. The airline's pilots along with engineers and senior staff were last paid for December 2018. This apart, the airline has also defaulted on the March salary of other categories of employees as well. Last month, an SBI-led consortium of lenders had taken management control of the airline post a debt-recast deal, following which the lenders had proposed to infuse as much as Rs 1,500 crore to the carrier to keep it afloat till the time it gets an investor, news agency PTI reported. The Monday meeting with lenders was reportedly expected to take a final decision on the quantum of funds to be infused immediately to avert a possible shut down. A meeting between the airline management and its major lender SBI last Friday could not take a decision on the fund infusion issue. (With inputs from agencies)

Haven't received interim funding, international flights to remain suspended till April 18: Jet Airways