Business

Beyond the oil import issue lies the issue of Chabahar port. India has committed millions of dollars in building the port that connects India and Afghanistan.

SpiceJet's first code-share partnership with Emirates, which is subject to regulatory approvals, assumes significance in the back drop of the temporary grounding of domestic carrier Jet Airways, which has investment from Emirates' rival carrier Etihad.

Bharti Airtel may see some action ahead of its rights issue of Rs 25,000 crore, its biggest ever which opens on May 3 and closes on May 17.

The broader NSE Nifty was up 0.76 percent at 11,779.75 as of 0546 GMT and the benchmark BSE Sensex was 0.86 percent higher at 39,240.52. Both indexes were headed for their four straight sessions of gains.

On the volume front, one lakh shares of the company were traded on the BSE and over 28 lakh shares on the NSE, during the morning trade.

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 USD 71.46 per barrel.

The airline earlier in the day said its international operations would stand suspended till April 15, after it suspended all its overseas operations Thursday.

The country's second-largest software services firm expects its topline to grow 7.5 - 9.5 per cent in FY2019-20 in constant currency terms.

The announcement comes at a time when airfares have been on an upswing across India for the past few weeks due to a sharp decline in the number of flights, primarily caused by grounding of around 90 per cent of cash-strapped Jet Airways' 119 aircraft flee...

The availability of flights was also hit by pulling out of SpiceJet's 12 "737 Max" aircraft in March over safety concerns following an Ethiopian Airlines plane crash on March 10.

'We are focused on enabling economic opportunities at every level and are committed towards generating gainful employment and entrepreneurship through our growing network of OYO Hotels and Homes in India,' OYO India and South Asia Chief Executive Officer...

A higher opening in domestic equities is said to have helped in restricting the slide in the Indian unit to some extent.

With this, India has retained its top spot on remittances. India was followed by China ($67 billion), Mexico ($36 billion), the Philippines ($34 billion), and Egypt ($29 billion).

The Department for Promotion of Industry and Internal Trade (DPIIT) had written to all the ports across the country to keep a tab on the goods imported and check whether they actually are 'gifts' as claimed by the online platforms.

The local unit, however, pared some gains and was quoted at 68.65 against the American currency at 0926 hrs, displaying gains of 9 paise over its last close.

The fleet strength in Jet Airways has now come down to 20.