Asian shares are trading on a mixed note today. The Nikkei 225 is up 0.5% while the Hang Seng is up 0.2%. On the other hand, the Shanghai Composite is trading down by 0.35%.
Back home, India share markets opened the day marginally higher. The BSE Sensex is trading up by 71 points (up 0.2%) while the NSE Nifty is trading up by 13 points (up 0.1%). The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index has opened the day up by 0.3%.
Sectoral indices have opened the day on a positive note with oil & gas stocks, telecom stocks and metal stocks witnessing maximum buying interest.
The rupee is trading at 70.24 to the US dollar.
From the banking space, State Bank of India share price will be in focus today as the lender has said that the appropriate authority has given it the approval to explore and initiate the process of divestment of up to 3.89% of stake in NSE through a secondary sale.
From the airlines’ sector, Jet Airways share price will also be in focus today. This comes as the company has received liquidity assistance of US$ 300 million or Rs 20 billion in terms of advance lease incentives and debt from banks to repay costly loans and cover cash losses.
This was the second straight quarter of losses for the airline, which had last month publicly admitted about cash-flow issues. The airline had booked net losses of Rs 10.4 billion in its March quarter results.
This second back-to-back quarterly loss has forced Jet Airways to announce a turnaround plan which includes a capital infusion by selling a stake in JetPrivilege and a massive cost-cutting to save around Rs 20 billion over the next two years.
To know more about the company, you can access to Jet Airways’ latest result analysis and Jet Airways’ 2017-18 Annual Report Analysis (Subscription required) on our website.
