Business

Jet Airways will be operating only nine planes, two Boeing 737s and seven regional Jet ATRs, as the airline grounded its services to and from the East and Northeast regions.

Traders said market mood was cautious as polling began in 91 constituencies spread across 18 states and two union territories in the first phase of Lok Sabha elections.

Among those aiming for dollar-debt are renewable energy firms Adani Green Energy Ltd, Greenko Group and Azure Power. Together these companies plan to raise over $1 billion in overseas bonds in the next few months.

In its BSE release, Vodafone Idea said that 20 billion fully paid up equity shares of face value Rs 10 will be available at Rs 12.50 by way of a rights issue to eligible equity shareholders.

Moody's estimates that a sale of the remaining stake at a valuation similar to the current deal would increase PNB's CET1 ratio by approximately 70 basis points.

The minister's comments have come against the backdrop of former RBI Governor Raghuram Rajan recently raising doubts over the Indian economy growing at 7 per cent when not enough jobs were being created.

RBI said it will examine the proposal upon receiving it from the parties in line with regulatory guidelines.

The scrip was down at Rs 259.15 after opening at Rs 264 on the BSE. Similar trend was witnessed on the NSE where the company's share price fell to Rs 258.85 apiece. It had opened at Rs 260.95 on the broader index.

The comments on rural incomes and rise in unemployment come amid the election campaigns where the issue of low job creation has gained greater prominence, with the Opposition attacking the government performance.

'India's ratings balance a strong medium-term growth outlook and relative external resilience stemming from strong foreign reserve buffers, against high public debt, a weak financial sector and some lagging structural factors,' Fitch said in a statement.

Sectorally, the BSE oil and gas, telecom, capital goods, energy and healthcare indices fell up to 2.06 per cent.

The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end. It finally ended at 38,233.41, up 424.50 points, or 1.12 per cent.

The stocks of Jet Airways jumped 12.69% to close at Rs 254.50 on the BSE. During the day, it rose sharply by 17.77% to Rs 266.

Global cues turned weak tracking Friday's sell-off on the Wall Street after a weak manufacturing data from the US and Europe raised fears of an economic slowdown.

The global benchmark has risen by more than 20 percent since the beginning of January, due to supply cuts by the Organization of the Petroleum Exporting Countries and allies.

The 30-share index opened on a positive note at 38,452.47, but soon succumbed to heavy selling pressure, touching an intra day low of 38,089.36.