New Delhi, May 27 (IANS) IndiGo is set to reduce its domestic flight capacity by 5-7 per cent between June and August 2026, becoming the second major Indian carrier after Air India to scale back operations amid rising cost pressures and softer post-summer travel demand.The airline has also already reduced its international capacity by nearly 17 per cent as part of temporary schedule adjustments.The move comes shortly after Air India announced a 22 per cent reduction in domestic flight operations…
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Mumbai, May 23 (IANS) Foreign institutional investors (FIIs) remained net sellers this week, offloading Rs 7,570 crore based on provisional exchange data as domestic institutional investors (DIIs) were net buyers, purchasing Rs 16,950 crore, providing enough cushion.In the month of May, FIIs have sold a cumulative Rs 32,230 crore, while DIIs have bought Rs 56,870 crore, based on provisional exchange data.FIIs were net buyer on Monday’s session with inflow of Rs 2,810 crore.“However, they tur…
New Delhi, May 22 (IANS) The Indian rupee extended its recovery for a second consecutive trading session on Friday, appreciating 63 paise to close provisionally at 95.73 against the US dollar.The domestic currency drew support from easing crude oil prices, positive sentiment in local equity markets and expectations of intervention by the Reserve Bank of India (RBI) to curb excessive volatility.The rupee opened at 96.30 per dollar in the interbank foreign exchange market and witnessed sharp gains…
Mumbai, May 22 (IANS) In the wake of widespread rumours regarding a potential fuel crisis, Maharashtra’s Food, Civil Supplies, and Consumer Protection Minister, Chhagan Bhujbal, on Friday assured the people that the state has an ample supply of petrol and diesel. Speaking to the media, he urged citizens to refrain from panic buying and unnecessary hoarding.The Minister revealed that panic-driven purchasing has led to an unusual surge in demand, with petrol and diesel sales spiking by 20 per ce…
New Delhi, May 21 (IANS) The government is actively working to address the sharp depreciation of the Indian rupee against the US dollar, with multiple measures currently under consideration to stabilise the domestic currency, Union Commerce and Industry Minister Piyush Goyal on Thursday said on Thursday.Speaking to reporters on the sidelines of an event here, Goyal said all arms of the government are functioning in coordination to deal with the evolving economic situation.“We are monitoring th…
New Delhi, May 19 (IANS) Despite ongoing geopolitical uncertainties and elevated crude oil prices, India’s market benchmark Nifty is expected to touch 29,000 level by March 2027, a report said on Monday.The report from Emkay Global Financial Limited said that India’s domestic macroeconomic resilience, improving earnings trajectory and policy support continue to offer a strong foundation for long-term growth.“Earnings resilience, policy support, easing domestic inflationary pressures and ongo…
New Delhi, May 19 (IANS) BJP and its allies on Tuesday defended the recent hikes in petrol and diesel prices, arguing that despite the global energy crisis triggered by tensions in West Asia, fuel costs in India remain comparatively lower than in many countries.The reactions came after state-run oil marketing companies revised fuel prices for the second time in less than a week amid a sharp rise in international crude oil prices linked to the ongoing conflict in the Gulf region and concerns over…
New Delhi, May 16 (IANS) The Delhi government on Saturday announced a major reduction in Value Added Tax (VAT) on Aviation Turbine Fuel (ATF), bringing the levy down from 25 per cent to 7 per cent in a move aimed at easing operational costs for airlines and providing relief to air passengers.According to the Chief Minister’s Office, the decision is expected to lower fuel expenses for carriers operating from the national capital and help improve the overall viability of airline operations.“De…
Chandigarh, May 16 (IANS) To ensure that the increased fuel prices do not impose any additional financial burden on the people of Punjab, the state government should follow the example of the BJP-led Central government, which on March 27 reduced taxes by Rs 10 per litre and absorbed the burden of rising fuel prices, the state unit of the BJP said on Saturday. BJP General Secretary Anil Sarin, while addressing the media in the presence of the party’s state media head Vineet Joshi, said that sim…
Mumbai, May 16 (IANS) Domestic institutional investors (DIIs) continued to cushion domestic equity markets with net purchases worth Rs 18,520 crore during the week, even as foreign institutional investors (FIIs) remained net sellers amid elevated market volatility and persistent global uncertainties.According to provisional exchange data, FIIs offloaded equities worth Rs 13,580 crore during the week, while DIIs remained net buyers.In May, FIIs have sold equities worth Rs 24,660 crore, whereas DI…