X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Turns Red; Jet Airways Bleed
Thu, 18 Apr 12:30 pm | Rini Mehta, TM Team

Stock markets in India are presently witnessing selling pressure. The BSE Sensex is trading down by 111 points and the NSE Nifty is trading down by 34 points. Meanwhile, both the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.8%.

Among the sectoral indices, telecom stocks, realty stocks and metal stocks are witnessing selling pressure, while automobiles stocks and energy stocks are leading the pack of gainers.

In the news from the aviation sector. Aviation stocks are in focus today, especially after Jet Airways, which plunged 27%, on temporarily adjourning its operation due to lack of funds.

The fall in Jet Airways provided strength to SpiceJet and Indigo, which gained 8% and 2%, respectively.

On Wednesday, Jet flew its last scheduled flight from Amritsar to Mumbai, as the debt-ridden company decided to suspend its operations on a temporary basis with no cash to run operations any further.

The development comes after lenders led by State Bank of India decided to reject the plea for emergency funds.

Interestingly, the development brings cheers to SpiceJet and Indigo with SpiceJet announcing the addition of six more Boeing 737-800 NG aircraft on dry lease.

Reportedly, these 6 aircrafts are in addition to the 16 B737s and 5 Q400s that the airline will soon induct.

The total number of planes to be inducted in the immediate future now stands at 27. The airline has applied to the Directorate General of Civil Aviation for a No Objection Certificate (NOC) to import the planes. Subject to regulatory approvals the aircraft would begin joining SpiceJet's fleet in the next ten days, the reports noted.

Note that, Jet Airways used to be a frontrunner once. What went wrong?

Well, one of the many reasons was the challenge from the entry of budget carriers. This led to dropping of fares by Jet Airways. Some tickets were sold even below the breakeven cost.

Then, provincial taxes of as much as 30% on jet fuel were added to its expenses. Further, the rise in oil prices was a death blow to their earnings.

Jet Airways: Bleeding Red

On a consolidated level, the company has bled in nine of the last eleven fiscals. In other words, it has kept its bottomline in the black in only two out of the last eleven years.

To know more about the company, you can access to Jet Airways Q3FY19 result analysis and Jet Airways 2018-19 Annual Report analysis on our website.

At the time of writing, Jet Airways was trading down by 27%.

Moving on to the news from the pharma sector. Zydus Cadila on Wednesday received final nod from the US health regulator to market generic Acetazolamide injection.

Acetazolamide is effective in the control of fluid secretion, for example in some types of glaucoma and treatment of certain convulsive disorders.

The company has received final approval from the United States Food and Drug Administration (USFDA) to market Acetazolamide for injection 500 mg per single-dose vial.

The product will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

It is a generic version of Diamox for injection, the reports noted.

The group now has 262 approvals and has so far filed over 350 abbreviated new drug applications (ANDAs) since the commencement of its filing process.

To know more about the company, you can access to Cadila Healthcare's latest result analysis and Cadila Healthcare's stock analysis on our website.

At the time of writing, Cadila Healthcare share price was trading down by 0.4%.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Sensex Turns Red; Jet Airways Bleed". Click here!

  

Stock Market Updates

INDUSIND BANK Surges by 5%; BSE BANKEX Index Up 1.2% (Today's Market)

May 22, 2019 02:12 PM

INDUSIND BANK share price has surged by 5% and its current market price is Rs 1,536. The BSE BANKEX is up by 1.2%. The top gainers in the BSE BANKEX Index is INDUSIND BANK (up 5.3%). The top losers are YES BANK (down 1.2%) and PNB (down 1.6%).

RELIANCE POWER Surges by 5%; BSE POWER Index Up 0.4% (Today's Market)

May 22, 2019 02:06 PM

RELIANCE POWER share price has surged by 5% and its current market price is Rs 7. The BSE POWER is up by 0.4%. The top gainer in the BSE POWER Index is RELIANCE POWER (up 5.2%). The top losers are TORRENT POWER LTD (down 0.7%) and POWER GRID (down 0.8%).

BHARAT ELECTRONICS Surges by 5%; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

May 22, 2019 01:24 PM

BHARAT ELECTRONICS share price has surged by 5% and its current market price is Rs 102. The BSE CAPITAL GOODS is up by 0.7%. The top gainers in the BSE CAPITAL GOODS Index is BHARAT ELECTRONICS (up 5.2%). The top losers are FINOLEX CABLES and V GUARD INDUSTRIES (down 0.1%).

NAVA BHARAT VENTURES Surges by 12%; BSE 500 Index Up 0.1% (Today's Market)

May 22, 2019 01:16 PM

NAVA BHARAT VENTURES share price has surged by 12% and its current market price is Rs 105. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are NAVA BHARAT VENTURES (up 11.8%) and TIMKEN INDIA (up 20.0%). The top losers are BAJAJ HOLDINGS & INVESTMENT and SHOPPERS STOP .

CAPLIN POINT Surges by 6%; BSE HEALTHCARE Index Up 0.3% (Today's Market)

May 22, 2019 01:16 PM

CAPLIN POINT share price has surged by 6% and its current market price is Rs 390. The BSE HEALTHCARE is up by 0.3%. The top gainers in the BSE HEALTHCARE Index are CAPLIN POINT (up 6.1%) and J.B.CHEMICALS (up 5.5%). The top losers are GLENMARK PHARMA and SUVEN LIFESCIENCES (down 0.4%).

View More Indian Share Market News

Most Popular

My Top 7 Stocks to Profit from Sensex 100,000(The 5 Minute Wrapup)

May 16, 2019

Tanushree Banerjee explains everything you need to know about the Rebirth of India and Sensex 100,000.

3 Indian Stocks Replicating Amazon's Successful Strategy(The 5 Minute Wrapup)

May 10, 2019

The one critical element that has made Amazon a force to reckon with...

3 Stocks to Bet on to Become a 'Dividend Millionaire'(Profit Hunter)

May 14, 2019

As markets continue to rattle amid earning season, upcoming elections, volatile crude price and US China trade war, it's a great idea to add some stability to your portfolio by adding dividend stocks.

Indian Steel: The Perfect Multibagger Opportunity(Profit Hunter)

May 17, 2019

A structurally strong Indian Steel Industry will help India achieve 8%+ GDP growth in the coming years.

The Bitter Pill that Will Lay the Foundation for Sensex 100,000(The 5 Minute Wrapup)

May 14, 2019

These companies will help the Sensex more than double from current levels.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


May 23, 2019 09:11 AM

MARKET STATS