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Monopoly in aviation sector dangerous for country, break IndiGo into 2 entities: Congress leader

Mumbai, Dec 8 (PTI) Former Union minister Prithviraj Chavan of the Congress on Monday said the growing monopoly in the aviation sector poses a “serious threat” to economy and affects passenger interest, and demanded crisis-hit IndiGo be split into two companies to ensure fair competition. Talking to reporters here, Chavan noted only two major players now dominate India’s air travel — IndiGo with 65 per cent market share and the Tata Group (Air India and AI Express) with nearly 30 per cent pie. “In 2004, India had 10 functional airlines, but today only two big companies are left. Nearly 40

Gold falls to Rs 1,32,600/10g amid subdued demand in Delhi markets

New Delhi, Dec 8 (PTI) Gold prices fell by Rs 300 to Rs 1,32,600 per 10 grams in the national capital on Monday due to subdued demand in the local markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 1,32,900 per 10 grams on Friday. However, silver prices jumped by Rs 1,500 to Rs 1,85,000 per kilogram (inclusive of all taxes), marking their second consecutive day of gains. It had settled at Rs 1,83,500 per kg in the previous market session. Globally, spot gold rose by 0.18 per cent

Rupee falls 14 paise to close at 90.09 against US dollar

Mumbai, Dec 8 (PTI) The rupee depreciated 14 paise to close at 90.09 (provisional) against the US dollar on Monday, as elevated crude oil prices and persistent foreign fund outflows dented investor sentiments. Forex traders said multiple pressures, such as sustained importer demand for the American currency, foreign fund outflows from equities, and lingering uncertainty over the India-US trade deal, are keeping investor sentiment fragile. At the interbank foreign exchange market, the rupee opened at 90.07, then gave up ground and fell to an intra-day low of 90.26 against the US dollar, down 31 paise from its previous close. At

Sensex tanks 610 pts; Nifty slips below 26k on profit booking, foreign fund outflows

Mumbai, Dec 8 (PTI) Equity benchmark indices Sensex and Nifty nosedived on Monday after two consecutive days of gains, as investors rushed to take profits amid the unabated selling of stocks by foreign investors. Analysts said investors turned defensive ahead of this week’s US Federal Reserve policy decision, which further weakened the sentiment. The 30-share BSE Sensex plunged by 609.68 points, or 0.71 per cent, to close at 85,102.69. During the day, it plummeted by 836.78 points, or 0.97 per cent, to hit the intraday low of 84,875.59. Snapping a two-day gaining streak, the 50-share NSE Nifty declined by 225.90

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