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SpiceJet’s Q2FY22 standalone net loss sequentially narrows to Rs 561.7 cr

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SpiceJet

Airline major SpiceJet’s Q2FY22 standalone net loss narrowed to Rs 561.7 crore on a sequential basis.

The airline had reported a net loss of Rs 729 crore in the first quarter of FY22.

However, on a year-on-year basis the net loss widened. The airline had reported a net loss of Rs 112.59 crore during the second quarter of FY21.

“We have made excellent progress in our recovery and I expect this trend to continue forward in the coming quarters. With the nationwide vaccination drive growing at an unprecedented pace across geographies, there is a significant jump in travel demand and we are very excited about the demand recovery,” said Ajay Singh, Chairman and Managing Director, SpiceJet.

“The settlement with key lessors, the return of the 737 MAX in the current quarter (Q3), transfer of the logistics business and some very significant announcements lined up soon are all positive tailwinds that should have a significant impact on our long term plans.”

According to Singh, the return of the 737 MAX comes at a time when passenger traffic is picking-up and the government has allowed airlines to operate at full capacity.

“We look forward to inducting additional capacity in the form of our 737 MAX aircraft that will upswing our operational efficiencies and provide significant cost saving capabilities.”

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Assam saw major drop in child marriage cases under BJP govt: CM Sarma

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Guwahati, Nov 26: Assam Chief Minister Himanta Biswa Sarma on Wednesday underscored a “major turnaround” in the state’s battle against child marriage, saying a combination of stringent enforcement and systemic reforms has led to significant declines in the underage marriages and boosted legal accountability.

CM Sarma claimed that according to NFHS‑4 (2015-16) data, 31.8 per cent of women in Assam aged 20–24 were married before turning 18 – a rate that exceeded the national average.

Moreover, district-level fact sheets had recorded alarming prevalence in districts such as Dhubri, South Salmara, Barpeta and Nagaon, as high as 40–55 per cent.

However, the state now claims a decisive shift. Between 2023 and 2024 alone, more than 8,600 arrests were made in coordinated crackdowns under both the Protection of Children from Sexual Offences Act (POCSO) and the Prohibition of Child Marriage Act (PCMA).

According to the Chief Minister, in 2022 the number of cases registered stood at 224, sharply up from just 149 in 2021, indicating a steep rise in enforcement.

CM Sarma said, “Beyond arrests, Assam has formed district-level task forces, headed by superintendents of police, to track and intercept impending child marriages. Community-level workers – including ASHAs, Anganwadi staff and schoolteachers – are now required to report suspected cases in real time.”

“Several districts have also reportedly established digital databases and child-protection tracking mechanisms,” he added.

The CM claimed that these measures have borne fruit: In hotspot districts, the incidence of child marriage fell by 8–17 per cent within a year, and more than 3,000 planned child marriages were prevented in 2023–24 alone.

Notably, the Assam government’s recent actions – from sustained crackdowns to setting up institutional safeguards – reflect a far more aggressive stance on child marriage than seen in earlier years, when the practice was largely treated as a social issue rather than a crime.

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Revanth Reddy urges PM Modi to declare Bengaluru-Hyderabad as defence & aerospace corridor

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Hyderabad, Nov 26: Telangana Chief Minister A. Revanth Reddy, on Wednesday, appealed to Prime Minister Narendra Modi to declare Bengaluru-Hyderabad as a defence and aerospace corridor.

The Chief Minister said this during the inauguration of the French aerospace major Safran’s largest MRO centre for the CFM International LEAP engines in Hyderabad.

The Chief Minister stated that declaring Bengaluru-Hyderabad as a defence and aerospace corridor will contribute to Viksit Bharat.

The Safran Aircraft Engine Services India (SAESI) facility at the GMR AeroPark (SEZ) near Shamshabad will be operational in 2026.

The Chief Minister congratulated Safran for choosing Hyderabad for a big investment and thanked it for its trust and continued partnership with Telangana.

He stated that this new facility marks an important milestone for Telangana’s growth in the aerospace and defence sector.

Revanth Reddy noted that this is the first-ever Maintenance, Repair and Overhaul (MRO) centre for LEAP engines in India. Set up with an investment of ₹1,300 crore, the centre will employ over 1,000 skilled technicians and engineers, while also generating new business opportunities for local MSMEs and precision engineering firms, he said.

He said that the foundation stone was also laid today for Safran’s M88 Military Engine MRO, which will support both the Indian Air Force and the Indian Navy.

The Chief Minister emphasised that Hyderabad has emerged as a major aerospace and defence hub, home to more than 25 major global companies and over 1,500 MSMEs. He added that Telangana’s progressive industrial and MSME policies are ranked among the best in India.

He said that Hyderabad’s world-class infrastructure, aerospace parks and SEZs continue to attract mega investments from leading global companies, making the city a top choice for highly complex precision engineering projects.

He noted that Hyderabad is already a preferred destination for companies such as Safran, Boeing, Airbus, Tata, and Bharat Forge for manufacturing and R&D activities, and has become one of India’s leading MRO and aero-engine hubs.

The Chief Minister highlighted that Telangana’s aerospace and defence exports doubled last year, reaching ₹30,742 crore in just nine months, surpassing the state’s pharma exports for the first time.

He also mentioned that Telangana has consistently won the Best State Award for Aerospace from the Ministry of Civil Aviation.

He underscored that skilling is a key factor in attracting aerospace investments. Telangana has upgraded 100 Industrial Training Institutes into Advanced Technology Centres in partnership with Tata Technologies, ensuring youth are job-ready for advanced manufacturing.

He added that the Young India Skills University is offering specialised training in aircraft maintenance and invited Safran to be a lead partner in aerospace and MRO skilling initiatives.

Reaffirming Telangana’s commitment to supporting partners like Safran with world-class infrastructure, the Chief Minister spoke about the upcoming Bharat Future City, being developed across 30,000 acres as a planned, fully green, net-zero global destination – India’s answer to New York, Tokyo, Dubai and Singapore.

He extended an invitation to the Prime Minister to attend the ‘Telangana Rising 2047 – Global Summit’ at Bharat Future City on December 8 and 9, where the state’s long-term vision will be unveiled. Telangana aims to become a $1 trillion economy by 2035 and a $3 trillion economy by 2047.

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Sensex, Nifty open higher on global optimism

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Mumbai, Nov 26: Indian share markets opened higher on Wednesday, supported by strong global cues.

The Sensex rose 260 points, or 0.31 per cent, to 84,847, while the Nifty gained 88 points, or 0.34 per cent, to trade at 25,973 during early trading session.

“The Nifty continues to remain range-bound, with resistance placed around 26,000–26,050 and near-term support at 25,750–25,800 ; a zone that may attract accumulation if tested,” analysts said.

“Fresh long positions can be considered once the Nifty convincingly crosses 26,100–26,130, while keeping a close watch on global cues and key technical levels,” market watchers added.

Global markets have been rallying for the third straight day as investors grow optimistic about a possible US Federal Reserve rate cut in December 2025.

This positive sentiment helped lift domestic equities as well.

Several major stocks led the gains on the Sensex, including Tata Motors PV, Trent, Adani Ports, Tata Steel, L&T, Ultratech Cement, Infosys, Maruti Suzuki, ICICI Bank and Tech Mahindra.

On the other hand, Bharti Airtel, Hindustan Unilever, and TCS were the only stocks that declined in early trade.

Broader markets also edged higher. The Nifty MidCap index climbed 0.53 per cent, while the Nifty SmallCap index advanced 0.79 per cent — showing strong interest from investors across the board.

Among sectors, metals were leading the market rally. The Nifty Metal index jumped 1.7 per cent.

PSU banks, IT, financial services, and private banks also saw gains of up to 0.8 per cent, contributing to the overall positive market mood.

Analysts said that the best strategy for retail investors is to refrain from trading and slowly accumulate fairy-valued high quality growth stocks which will be available at attractive valuations due to heightened volatility.

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