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<keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword>, which is facing headwinds, on Wednesday reported widening of net loss to Rs 789 crore in the June quarter as high fuel prices and rupee depreciation adversely impacted the budget carrier. Amid the financial turmoil, the airline plans to raise USD 200 million, which is around Rs 1,600 crore at current exchange rates and expects to complete the hiving-off of its profitable cargo business into a separate company in the current quarter. In continuing woes for the carrier, aviation watchdog DGCA on Wednesday deregistered two more <keyword id="6357957" type="General" weightage="50" keywordseo="boeing" source="Orion">Boeing</keyword> 737 planes of SpiceJet, following non-payment of dues to lessors. With the latest deregistration, a total of six Boeing 737 aircraft of the budget carrier have been deregistered in August. The crisis-hit airline has also delayed payment of salaries to staff for the second straight month. However, SpiceJet said it has started crediting salaries from today and like the previous month, "salary will be credited in a graded format". Moreover, in the independent auditor's review report of the airline's latest quarterly results, it has been mentioned that there are indications of material uncertainties "that may cast significant doubt about the group's ability to continue as a going concern". On Wednesday, the airline also said that its Chief Financial Officer Sanjeev Taneja has resigned. The low-cost carrier had a net loss of Rs 729 crore in the quarter ended June 2021. In the latest June quarter, the net loss is Rs 420 crore, excluding forex adjustment. "Total revenue for the reported quarter was Rs 2,478 crore as against Rs 1,266 crore, a year-on-year growth of 126 per cent, in the same quarter of the previous year," the airline said in a release. The airline, which had delayed its March quarter and FY2022 earnings, saw its net loss widen to Rs 458 crore in the 2022 March quarter from Rs 235.3 crore in the year-ago period. For the full fiscal year 2021-22, the net loss surged 73 per cent to Rs 1,725 crore from Rs 998.30 crore in the comparable period. According to the airline, business was severely impacted by the third wave of the coronavirus pandemic and high fuel prices in the March quarter. SpiceJet Chairman and Managing Director <keyword id="6357826" type="General" weightage="50" keywordseo="ajay-singh" source="Orion">Ajay Singh</keyword> said the industry has been witness to one of the most severe operating environment in the recent past, which impacted the progress and recovery made in the third quarter of FY2022. In the June quarter, jet fuel prices rose 105 per cent on a year-on-year basis and 40 per cent on a sequential basis, the airline said. "We are optimistic about our future and our continued recovery and in order to achieve our future plans, the board has mandated fresh capital issuance and the company will be shortly engaging with investment bankers for a potential raise of up to USD 200 million," he said. The airline's cargo arm <keyword id="6866514" type="General" weightage="50" keywordseo="spicexpress" source="Orion">SpiceXpress</keyword> was in black during the first quarter of the current fiscal. It reported a net profit of Rs 18 crore. Cargo revenues rose 74 per cent to Rs 1,944 crore in FY2022. "We will soon conclude the hive-off of cargo business into a separate independent company, SpiceXpress in the current quarter which will be followed by capacity enhancement with additional freighter aircraft within FY2023," Singh said. Meanwhile, certain concerns have been flagged in the independent auditor report of the company's quarterly results. "... the group has an incurred net loss (after other comprehensive income) of Rs 7,827.82 million during the quarter ended 30 June 2022 and, as of that date, the group's accumulated losses amounts to Rs 67,471.11 million, which have resulted in complete erosion of its net worth and the current liabilities have exceeded its current assets by Rs 67,719.67 million as at 30 June 2022," it said. According to the report, these conditions and other matters indicate the existence of a material uncertainties that may cast significant doubt about the Group's ability to continue as a going concern. Singh said that despite the complex operating environment and highest-ever input costs, SpiceJet has been able to sustain its operations. "Last year was a period of restructuring and settlements and we successfully completed and implemented settlements with most of our major partners, including manufacturers and lessors setting the stage for our seamless growth and expansion. "As we move ahead, we are encouraged with the strong travel demand and our focus for the next year would be to induct more fuel-efficient Boeing 737-8 MAX aircraft and concentrate on our regional and international routes," he added. In recent months, SpiceJet has been facing turbulent times, including financial headwinds. In July, the regulator directed the airline to operate only 50 per cent of flights in the wake of many of its planes facing technical issues. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/airfares-may-get-costlier-this-festive-season-as-theres-no-cap-ticket-prices-from-now/articleshow/93917729.cms">Airfares may get costlier this festive season as there's no cap ticket prices from now</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-multi-cap-fund-has-survived-the-worst-market-cycles-and-yet-delivered-the-highest-returns/articleshow/93914048.cms">This multi-cap fund has survived the worst market cycles and yet delivered the highest returns</a>

SpiceJet net loss widens to ₹789 crore, CFO resigns

<ul><li>The Gurugram-based airline has widened its loss in the last five quarters as travel restrictions remain across the globe.</li><li>The company flew with the least number of passengers in April and May compared to the previous months of 2021.</li><li>Shares of <keyword id="6358032" type="CITY" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword> were down 4.4% as investors were disappointed with the airline’s financial performance.</li></ul>SpiceJet seems to be struggling to sell its tickets as aircraft of the Gurugram-based airlines flew with the least numbers of passengers -- in 2021 -- in the last two months, which dug a hole in its pockets. Business operations of the airline industry have been highly affected as the government has restricted travel due to the continued impact of the pandemic. The company’s chairman and managing director (MD) indicated that it struggled to sell its tickets in the last five quarters. “The last five quarters have been the most difficult phase ever for SpiceJet as aviation remained the worst‐hit sector during the second wave as well. Q1 [first quarter] was severely impacted by the second wave as passenger traffic almost disappeared,” said Ajay Singh, MD and chairman in the earnings release. The company was able to utilise its passenger capacity much better than its peer Interglobe Aviation (Indigo). <div type="image" title="Copy of Copy of Zomato" msid="85366388" hostid="261"></div> Passenger load factor (PLF), is an airline industry metric that measures how much of an airline’s passenger carrying capacity is used. And here SpiceJet’s capacity utilisation hovered between 64-78% while Indigo’s capacity remained less than 60% in the last two months. In fact, SpiceJet’s best passenger load factor was best amongst all airlines in the country during the quarter. The average domestic load factor for the quarter was 69.5%. SpiceJet and Indigo are low cost airlines, which are budget-friendly. <div type="image" title="Spicejet stock" height="900" width="1200" msid="85366402" hostid="261"></div> Both the low cost airlines have been incurring loss. especially in the last 15 months, which saw major travel restrictions across countries. SpiceJet reported a loss of ₹731 crore in June quarter of this year, which widened from ₹256 crore loss in March quarter and ₹600 crore in June quarter of 2020. Shares of the company were also affected with its disappointing June quarter results. The stock was down 4% at ₹69 at 1:24 p.m., on Monday, August 16. <div type="image" title="Spicejet revenue" height="900" width="1200" msid="85366419" hostid="261"></div> At a time when the company is unable to sell its passenger tickets, it is filling up its cargos to make some money. SpiceXpress reported a profit of ₹30 crore in June quarter. SpiceXpress is the dedicated air cargo service that provides integrated logistics solutions. Its network spans over 68 domestic and 111 international destinations including US, Europe and Africa. In the June quarter it carried more than 43,000 tonnes of cargo. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-hits-50-million-downloads-on-play-store/articleshow/85366359.cms">Battlegrounds Mobile India hits 50 million downloads on Play Store</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/one-third-of-indians-hold-cryptocurrencies-and-youngsters-are-leading-the-charge/articleshow/85364856.cms">One third of Indians hold cryptocurrencies and youngsters are leading the charge, according to a new report</a>

Flying with the least number of passengers in April, May burns a $100 million hole in SpiceJet’s books

New Delhi, Despite subdued improvement in operations, <keyword id="1173978" type="PERSON" weightage="20" keywordseo="Indian-aviation-stocks">Indian aviation stocks</keyword> have risen by 34-107% in the last three months, <keyword id="113829" type="DOMAIN" weightage="20" keywordseo="Motilal-Oswal-Financial-Services">Motilal Oswal Financial Services</keyword> said in a report. Accordingly, it pointed out that on a YoY basis, <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">IndiGo</keyword> is up by 29% (outperforming Nifty by 16%), while <keyword id="6358032" type="DOMAIN" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword> is up mere by 2% YoY. "IndiGo stock has risen on the back of Covid-19 vaccine optimism and gains in market share; SpiceJet was further supported by the re-licensing of the Boeing 737 MAX," the report said. "The outlook for the sector remains 'Neutral'." According to the report, optimism over the vaccine could certainly result in increased flying confidence, leading to the quicker normalisation of operations versus earlier estimates. "However, the same reason has also led to a spike in crude oil prices, which were previously subdued, somewhat easing the pain of <keyword id="389502" type="PERSON" weightage="20" keywordseo="airline-companies">airline companies</keyword> in the <keyword id="10461831" type="UNKNOWN" weightage="20" keywordseo="currents-unprecedented-times">currents unprecedented times</keyword>," it said. "It's been six months since the resumption of domestic flight operations in India (post complete grounding over April-May'20)." Domestic operations in India are still 50% of pre-Covid levels, recording a gradual improvement over these last six months. Besides, it said a rise in the number of unique city pairs has resulted in huge growth in the international market over the last two years. However, the Covid disruption has resulted in a significant reduction in such city pairs (down by 67% YoY). "Thus, we believe international travel is likely to take longer to recover, with confidence likely to first improve in intracontinental flying (v/s intercontinental flying)." Furthermore, it cited that India has a huge order book of more than 500 planes coming in over the next 3-4 years. "And, with domestic air travel demand extremely elastic to railway journeys, airlines would have to compete on fares to fill their seats," "Earnings could see a drastic impact on currently enjoyed higher yields if fare bands are removed and competition prickles in." In addition, it said revival in economic activity, any spike in crude oil prices from current levels would directly impact the earnings of airline companies. "If crude oil prices climb up, along with yields declining from current levels, it would lead to a double whammy impact on the stocks - which are currently trending at expensive valuations." SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

Indian aviation stocks up by 34-107% in the last three months, says report

<ul><li>At 7:50 am, the SGX Nifty was down 0.44%, indicating a subdued start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amidst negative cues from global markets, Indian stock-market indices are likely to open on a tepid note on Thursday. At 7:50 am, the SGX Nifty was down 0.44%, indicating a subdued start for Nifty50. US equities also fluctuated on Wednesday as investors sold off technology stocks that benefited from virus lockdowns. The Dow Jones Industrial Average closed 23.29 points lower, whereas, the S&amp;P 500 closed 0.77% higher. These are the stocks to watch out for during the trading session today: SpiceJet Budget carrier SpiceJet on Wednesday reported a net loss of ₹112.6 crore for the quarter ended September 30. It had posted a net loss of ₹462.6 crore for the corresponding period last year. The airline’s total income stood at ₹1,305 crore in the quarter, down from ₹3,074 crore in the year-ago period. The shares of SpiceJet ended 6% higher on Wednesday. Reliance Industries The Competition Commission of India (CCI) on Wednesday said it had approved internet major Google’s proposed purchase of 7.73% stake in Jio Platforms. The transaction will facilitate Google and Jio Platforms Ltd (JPL) to develop and launch a new smartphone in the country. In July, it was announced that Google had agreed to invest ₹33,737 crore to buy a 7.7% stake in the Reliance Industries’ technology venture. The shares of Reliance Industries ended 4% lower on Wednesday. Coal India State-run Coal India Ltd on Wednesday reported a 16 per cent fall in its consolidated net profit to ₹2,951 crore in the second quarter ending September 30. The miner had posted a net profit of ₹3,523 crore in the year-ago period. Although, the company’s revenue from sales was at ₹19,484 crore during the quarter under review as against ₹18,986 crore in the year-ago period. The shares of Coal India ended 1% higher on Wednesday. Power Grid State-owned Power Grid posted an over 20% rise in consolidated net profit to ₹3,094.10 crore in the September quarter, mainly due to higher revenues. Total income during the period under review rose to ₹9,831 crore from ₹9,260.46 crore in the same period a year ago. The shares of Power Grid ended 2.14% higher on Wednesday. Apollo Hospitals Corporate hospital major Apollo Hospitals is set to acquire the remaining 50% stake in Apollo Gleneagles Hospitals held by Gleneagles Development PTE Ltd, Singapore for ₹410 billion. Consequent to this development, Apollo Gleneagles would become a 100% wholly-owned subsidiary of the city-based Apollo Hospitals. The shares of Apollo Hospitals ended 8% higher on Wednesday. Happiest Minds Tech Ashok Soota backed Happiest Minds Tech has entered into a strategic partnership with lo-Tahoe to provide their clients with effective data discovery and governance solutions. The shares of Happiest Minds Tech ended 2% higher on Wednesday. Future Lifestyle Fashion CARE Ratings has downgraded long-term bank facilities and NCDs from CARE BB to CARE C, with outlook staying unchanged at credit watch with negative implications for Future Lifestyle Fashion. Kotak Mahindra Asset Management<a href="https://worldsnews.biz/future-group-excellent-bonds-commerce-as-excessive-as-50-as-amazon-tussle-over-ril-deal-intensifies/"> Company has also sold a part of its holding</a>s in Future Lifestyles Fashions (FLFL) in the past three days at yields in the range of 35-50%. The shares of Future Lifestyle Fashion ended 1% higher on Wednesday. Coffee Day Enterprises Coffee Day Enterprises told investors that the exchanges had given a notice for compulsory delisting of the company. Eicher Motors, IRCTC, Mazagon Dock Shipbuilders and Page Industries Eicher Motors, IRCTC, Mazagon Dock Shipbuilders, Page Industries and others are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/spicejet-shrink-its-losses-to-112-59-crore-in-the-second-quarter-ended-september-30/articleshow/79172678.cms" data-type="tilCustomLink">Spicejet is losing one rupee where it was losing four thanks to cheaper fuel and cut in rentals</a> <a href="https://www.businessinsider.in/policy/economy/news/indian-government-approves-the-pli-scheme-for-10-sectors/articleshow/79172901.cms" data-type="tilCustomLink">Indian government approves the Production Linked Incentive scheme for 10 sectors worth ₹2 lakh crore</a>

Top stocks to watch — RIL, SpiceJet, IRCTC, Mazagon Dock Shipbuilders, Coal India, Power Grid, Future Lifestyle, Happiest Minds Tech and others

<ul><li>The SGX Nifty was trading 0.02% higher at 7:45 am, indicating a flat start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities may open on a cautious note on Wednesday. The SGX Nifty was trading 0.02% higher at 7:45 am, indicating a flat start for Nifty50. <a href="https://www.businessinsider.in/stock-market/news/us-stocks-stutter-as-massive-rotation-drags-on-tech-and-boosts-reopening-trade/articleshow/79161304.cms">US equities also fluctuated on Tuesday</a> as investors continued to pivot away from growth stocks and bolstered bets on near-term economic recovery. The Dow Jones Industrial Average closed 263 points higher, and the S&amp;P 500 closed 0.14% lower. These are the stocks to watch out for during the trading session on November 11: NMDC State-owned NMDC posted over 10% rise in consolidated net profit at ₹772.53 crore for the quarter ended September 30, on the back of reduced expenses. The board of the company has also approved buyback of 13.12 crore equity shares at a price of ₹105 per share for cash consideration not exceeding ₹1378.05 crore. The shares of NMDC ended 0.96% higher on Tuesday. Wipro Azim Premji-led IT major Wipro announced that it had won a five-year contract for software engineering services fromThoughtSpot. California headquartered ThoughtSpot is a search and Artificial Intelligence-driven analytics platform that helps explore, analyse and share real-time business analytics data easily, the company said in a statement. The shares of Wipro ended 3% lower on Tuesday. Mayur Uniquoters The Board of PVC cloth manufacturer Mayur Uniquoters at its meeting held on November 10 has approved the buyback of 7.50 lakh equity shares for an aggregate amount of ₹30 crore at a price of ₹400 per share. The shares of Mayur Uniquoters ended 5% higher on Tuesday. Tata Power Tata Power posted a 10% increase in consolidated net profit to ₹371 crore for the quarter ended September 30. The company’s total gross debt fell 14% to ₹17,300 crore in the quarter, on a sequential basis. The shares of Tata Power ended 4% higher on Tuesday. GPT Infraprojects GPT Infraprojects bagged an order valued <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/6d0e5316-4749-4d26-b735-80e03d35d8aa.pdf">₹30.2 crore</a> from the government for building a bridge over Yamuna river. The shares of GPT Infraprojects ended 3% lower on Tuesday. Future Consumer Future Consumer on Tuesday reported a consolidated loss of ₹146.83 crore for the quarter ended September 30, led by a steep fall in total income. The company had posted a loss of ₹16.75 crore in July-September period last year. The company’s total income during the period under review fell sharply to ₹244.89 crore as against ₹1,127.17 crore in the year-ago period. The shares of Future Consumer ended flat on Tuesday. Aurobindo Pharma, SpiceJet, Coal India, and LIC Housing Finance Aurobindo Pharma, SpiceJet, Coal India, and LIC Housing Finance are the among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/the-worlds-longest-flight-just-quietly-touched-down-in-new-york-heres-why-you-havent-heard-anything-about-it-/articleshow/79161300.cms" data-type="tilCustomLink">The world's longest flight just quietly touched down in New York. Here's why you haven't heard anything about it.</a> <a href="https://www.businessinsider.in/tech/news/apple-brought-back-the-iconic-and-im-a-pc-character-at-its-new-product-event/articleshow/79161458.cms" data-type="tilCustomLink">Apple brought back the iconic 'And I'm a PC' character at its new product event</a>

Top stocks to watch — NMDC, Wipro, SpiceJet, Mayur Uniquoters, Future Consumer, Tata Power and others

<ul><li>The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Friday. The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50. However, The US stock markets soared on Thursday, as investors cheered healthy economic data and bet on tech stocks to post strong quarterly earnings. The Dow Jones Industrial Average closed 139 points higher and the S&amp;P 500 gained 1.19%. These are the stocks to watch out for during the trading session on October 29: IndiGo India’s largest airline IndiGo reported a net loss of ₹1,194 crore for the second quarter ended September 30. The company had posted a net loss of ₹1,062 crore in the same quarter last year. The airline’s total income was down 65% to ₹3,029 crore. The shares of IndiGo ended 2.3% higher on Thursday. Tata Group stocks The Tata Group stocks such as Tata Motors, TCS, Tata Communications, among others, will be in focus throughout the trade today. The Shapoorji Pallonji Group has submitted a plan for separation from Tatas to the Supreme Court. The Mistrys have valued their holding in the Tatas at ₹1.75 lakh crore. Hindustan Petroleum (HPCL) The petroleum giant Hindustan Petroleum announced that its board would meet on November 4 to consider a share buyback plan as the company management feels the share price is lower than the value it deserves. The shares of HPCL ended 5% higher on Thursday. SpiceJet, IndiGo and other aviation-related stocks The stocks of SpiceJet, IndiGo and other aviation-related stocks will be in focus today. The Civil Aviation Minister Hardeep Singh Puri announced that the upper and lower limits on domestic airfares would remain in place for another three months post-November 24. The shares of SpiceJet ended 2% lower on Thursday. Mangalore Refinery and Petrochemicals Limited (MRPL) ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) registered a net profit of ₹35.84 crore in the second quarter ended September 30, as against a loss of ₹574.45 crore in the corresponding period last year. The shares of MRPL ended 1% lower on Thursday. Zensar Technologies Zensar Technologies reported an 11.7% rise in net profit to ₹89.2 crore for the second quarter ended September 30. The board of the company has also given in-principle approval for a merger of its wholly-owned subsidiary Cynosure Interface Services with the company. The merger aims at reducing administrative costs. The shares of Zensar Technologies ended 0.37% lower on Thursday. TVS Motor TVS Motor Company reported a 29.37% decline in consolidated net profit at ₹181.41 crore for the quarter ended September 30. The production and sales improved consistently from July onwards, but the commercial vehicle segment continued to hurt the company. The shares of TVS Motor ended over 1% lower on Thursday. Vodafone Idea Debt-ridden telecom firm Vodafone Idea reported narrowing of its consolidated loss to ₹7,218.2 crore for the quarter ended September 30. The company had posted a loss of ₹50,897.9 crore in the same quarter last year. However, the total income declined by about 3% to ₹10,830.5 crore during the reported quarter. The company’s subscriber base also declined to 27.18 crore in Q2, from 27.98 crore earlier. The shares of Vodafone Idea ended 4% lower on Thursday. Angel Broking Kuwait Investment Authority has acquired half a percent stake in retail broking company Angel Broking via open market transactions on October 29 for ₹321.73 per share. The shares of Angel Broking ended 3% higher on Thursday. Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL, Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL among others are slated to announce quarterly financial results today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/marutis-revenue-rises-10-as-car-sales-increase-but-high-commodity-prices-dampen-profit/articleshow/78929357.cms" data-type="tilCustomLink">Maruti’s revenue rises 10% as car sales increase but high commodity prices dampen profit</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms" data-type="tilCustomLink">COVID-19 vaccine updates: Pfizer, Moderna to roll out COVID-19 vaccine by December</a>

Top stocks to watch — RIL, IndiGo, Tata Group, SpiceJet, Angel Broking, Dixon Tech, MPCL, and others

<ul><li>The 30-share BSE index was trading 78 points higher, while the Nifty50 rose 0.21%.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex and Nifty opened on a cautious note tracking mixed cues from global markets ahead of the US Federal Reserve's policy outcome. The 30-share BSE index was trading 78 points higher, while the Nifty50 rose 0.21%. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment Limited </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr></tbody></table>*as of September 16, 9:50 am Mahindra and Mahindra shares gain 5% on September 16 The shares of automobile manufacturer Mahindra and Mahindra opened 5% higher after <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/mahindras-ssangyong-close-to-signing-binding-agreement-with-us-firm-korean-media-reports/articleshow/78120204.cms?from=mdr">Korean news reports</a> surfaced claiming that M&amp;M subsidiary SsangYong Motor was close to signing a binding investment agreement with US-based HAAH Automotive Holdings. SpiceJet shares shed 2% post earnings The shares of India’s largest cargo operator lost nearly 2% on Wednesday a day after the company reported a net loss of ₹593.4 crore for the first quarter ended June 30. The overall revenue during the quarter declined 83% YoY to ₹4,83.24 crore compared to the same period last year. Indiabulls Housing trade 3% higher The shares of Indiabulls Housing gained 3% after the company said Brickwork Ratings has assigned a short-term rating of A1 plus to the company, signifying the adequate degree of safety and low credit risk. The rating agency has reaffirmed the long-term rating at AA-plus, suggesting a high degree of safety and very low credit risk, the company said in its regulatory filing. Lakshmi Vilas Bank locked in 10% upper circuit The shares of Lakshmi Vilas Bank were locked in a 10% upper circuit after the bank said the Clix Group have substantially completed the due diligence on a proposed amalgamation of the financial services company with the bank. In June, Lakshmi Vilas bank had signed a preliminary, non-binding letter of intent (LoI) with Clix Capital Services Private Limited and Clix Finance India Private Limited, collectively the Clix Group, in relation to the proposed amalgamation of Clix Group with the Bank. NMDC trades 4% higher The share price of National Mineral Development Corporation (NMDC) gained over 4% a day after the Karnataka Cabinet cleared the NMDC’s application to start mining operations at Donimalai following the intervention of Union Mines Minister, Prahlad Joshi. Sterlite Technologies gains over 5% The shares of Sterlite Technologies was trading over 5% higher after it partnered with telecom giant Airtel to build an optical fibre network across 10 telecom circles. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/indias-covid-19-number-crosses-5-million-mark-and-last-one-million-cases-in-just-11-days/articleshow/78139916.cms" data-type="tilCustomLink">India’s COVID-19 tally crosses 5 million mark — with an addition of one million cases in just 11 days</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-future-enterprises-bharti-airtel-sterlite-technologies-spicejet-indigo-mm-and-more/articleshow/78138733.cms" data-type="tilCustomLink">Top stocks to watch— Infosys, Future Enterprises, Bharti Airtel, Sterlite Technologies, SpiceJet, IndiGo, M&amp;M and more</a>

Top stock movers — Mahindra and Mahindra, SpiceJet, NMDC, Lakshmi Vilas Bank, Indiabulls Housing, Sterlite Tech and more

<ul><li>At 7:40 am, the SGX Nifty was trading 1.06% higher, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on positive note tracking cues from the global peers. At 7:40 am, the SGX Nifty was trading 1.06% higher, indicating a higher start for Nifty50. The US stocks also ended higher on Monday, fueled by a rebound in big tech names. The Dow Jones Industrial Average closed 1.18% higher, and the S&amp;P 500 rose 1.27%. Here’s a list of stocks to watch for in trade on September 15: Future Retail Future Retail reported a net loss of ₹242.2 crore for the quarter ended June 30. The company’s overall revenue was down 88.6% to ₹ 163.2 crore compared to the same period last year. The shares of Future Retail closed 5% lower yesterday. ICICI Bank ICICI Bank said the RBI had exempted it from provisions of the Banking Regulation Act 1949 relating to its investments in its insurance companies. A government notification exempts ICICI Bank from cutting stake to 30% in ICICI Lombard General Insurance and ICICI Prudential Life Insurance, for a period of three years. The shares of ICICI Bank closed 2% lower on Monday. Central Bank of India The Central Bank of India has reduced its marginal cost of funds-based lending rates (MCLR) by 5 basis points (bps) across all tenors, effective from Tuesday. The city-based lender has cut the one-year MCLR to 7.10% from 7.15%, a release said. The shares of the Central Bank of India closed flat on Monday. PVR Limited PVR Limited reported a net loss of ₹225.6 crore for the quarter ended June 30. The company’s overall revenue was down 98.6% to ₹12.7 crore compared to the same period last year. The shares of PVR Limited closed 5% higher yesterday. Indiabulls Housing Finance Indiabulls Housing Finance raised about ₹1,205 crore over the last few days through its qualified institutional placement (QIP) and partial stake sale in UK-based OakNorth Bank Ltd. The non-banking finance company (NBFC) has raised ₹682.87 crore through the QIP and ₹522 crore from the partial stake sale. The shares of Indiabulls Housing Finance closed 5% higher on Monday. Raymond Limited Apparel maker Raymond reported a net loss of ₹247.6 crore compared to last year loss of ₹12.2 crore. The company’s consolidated revenue declined by 88.6% to ₹163.2 crore. The shares of Raymond Limited closed 3% higher on Monday. SAIL: Steel Authority of India Steel Authority of India reported a net loss of ₹1,226.5 crore for the quarter ended June 30. The company’s overall revenue was down 38.8% to ₹ 9,067.5 crore compared to the same period last year. The shares of SAIL closed 2% higher yesterday. Ashok Leyland Hinduja Group-owned Ashok Leyland launched a new light commercial vehicle (LCV) yesterday. Chairman Dheeraj Hinduja said the new LCV comes with the right and left-hand drive options, enabling the company to look at international markets. The shares of Ashok Leyland closed 10% higher yesterday. Allcargo Logistics, SpiceJet, Future Enterprises, and Zee Media Corporation These companies are slated to report their quarterly earnings to the stock exchanges today. SEE ALSO: <a href="https://www.businessinsider.in/india/news/spicejet-airlines-share-price-spikes-4-ahead-of-earnings-tomorrow/articleshow/78107627.cms" data-type="tilCustomLink">SpiceJet shares spike ahead of earnings— losses are certain, but cargo operations may hold some respite</a> <a href="https://www.businessinsider.in/tech/news/oracle-wins-bid-to-become-tiktoks-trusted-technology-provider-in-us/articleshow/78110292.cms" data-type="tilCustomLink">Oracle wins bid to become TikTok's 'trusted technology provider' in US</a>

You Searched For "SpiceJet earnings" and got 8 results

SpiceJet net loss widens to ₹789 crore, CFO resigns

PTI

Flying with the least number of passengers in April, May burns a $100 million hole in SpiceJet’s books

Bhakti Makwana

Indian aviation stocks up by 34-107% in the last three months, says report

IANS

Top stocks to watch — RIL, SpiceJet, IRCTC, Mazagon Dock Shipbuilders, Coal India, Power Grid, Future Lifestyle, Happiest Minds Tech and others

Navdeep Yadav

Top stocks to watch — NMDC, Wipro, SpiceJet, Mayur Uniquoters, Future Consumer, Tata Power and others

Navdeep Yadav

Top stocks to watch — RIL, IndiGo, Tata Group, SpiceJet, Angel Broking, Dixon Tech, MPCL, and others

Navdeep Yadav

Top stock movers — Mahindra and Mahindra, SpiceJet, NMDC, Lakshmi Vilas Bank, Indiabulls Housing, Sterlite Tech and more

Navdeep Yadav

Top stocks to watch— Future Retail, PVR, Central Bank, ICICI Bank, SpiceJet, Indiabulls Housing Finance, Ashok Leyland and more

Navdeep Yadav

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