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The company's profit in Q4 has increased from Rs 87.5 crore to Rs 959.5 crore, while the market was expecting a profit of around Rs 1,100 crore
On May 9, when the company made its debut on the stock exchanges, the listing was excellent. Against the issue price of Rs 1,080, the stock was listed at Rs 1,300.
NCLT has dissolved the board of the airline and appointed Abhilash Lal for the bankruptcy resolution process. The airline has been asked to deposit Rs 5 crore and it has also been ordered not to lay off any employee.
Stock is trading close to its 52-week high.
The latest development comes a day after the NCLT issued a notice to the Ajay Singh-promoted private carrier on a petition filed by an aircraft lessor seeking initiation of insolvency resolution proceedings against it
Go First, which is facing financial difficulties, has received some relief as the National Company Law Tribunal (NCLT) has approved the petition to begin the company's insolvency resolution process.
The apex court is expected to take it up on May 12. It is not yet clear whether the expert panel has sought any extension or submitted the final report.
The main reason for the boom in gas distribution companies was Mahanagar Gas fourth-quarter results after the market closed on Monday evening
Although the quota for eligible institutional investors was subscribed more than 49 times, the quota for retail investors was not even fully subscribed
Air travel in India is still considered as luxury spending. All the luxury items have very high price elasticity.