Share Market Highlights 28 February 2024: Sensex dips 790 pts; Nifty settles below 22k; midcap, smallcap indices tumble thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The Supreme Court directed SpiceJet Ltd. on Monday to pay $1.25 million to Credit Suisse AG before March 15 in order to clear out its arrears before the next date of hearing.
Appearing for Credit Suisse, senior advocate Siddhartha Dave told a bench of Justices Hima Kohli and Ahsanuddin Amanullah that as of Feb. 15, the budget carrier was in default of $1.25 million.
Shares of SpiceJet Ltd zoomed 13% in the afternoon session today after the airline said it along with Busy Bee Airways, have jointly submitted a bid for acquiring bankrupt airline GoFirst. Shares of SpiceJet rose 13% to Rs 71.90 on BSE. Market cap of the airline rose to Rs 4,858 crore. The bid has been submitted by Ajay Singh, Chairman and Managing Director of SpiceJet, in his personal capacity, along with Busy Bee Airways Private Limited, SpiceJet said.
A few smallcap stocks, whose weights have gone up, such as Glaxosmithkline Pharma, Fine Organic Industries, PTC Industries and Suven Pharmaceuticals, among others, are expected to see negligible inflows.
The Delhi high court on Monday told low-cost carrier SpiceJet Ltd to pay Rs 50 crore to former promoter Kalanithi Maran and KAL Airways within six weeks, as part of an arbitral award of 2018.
The court said the payment shall be made subject to the outcome of SpiceJet s appeal challenging the interest amount awarded by the arbitral tribunal.
The matter will now be heard on May 14.