Editor's Desk

The National Aviators Guild (NAG), a body of pilots belonging to Jet Airways has decided to withdraw its proposed strike protesting against the sacking of two of their senior colleagues by the airline’s management. However, more than 600 pilots of the airline and its low-cost subsidiary JetLite have gone on mass casual leave on Tuesday jeopardising the airline’s operations across the country.

The sudden move by the pilots has led to the cancellation of around ten morning flights with the airline accommodating the passengers on flights of other airlines.

Read moreJet Airways feels the heat of mass leave of the pilots

Based on the governments recent stance taken at various forums, confidence is growing on the intent to completely reimburse OMCs for under-recoveries i.e. (i) make upstream bear the entire auto fuel losses, and (ii) fully compensate OMCs for LPG/kero through oil bonds.

While absolute certainty on the above issues is likely 3-6 months away, we view the stocks should price in the positives, albeit with

Read moreGovernment reimbursement for Oil Marketing Companies

Copper was trading lower, snapping its three-day gains as traders awaited evidence that demand from China, the world’s largest metals consumer, may sustain prices after the metal reached an 11-month high last month.

The Chinese Statistics Bureau and customs departments are set to report trade and economic data, including figures tracking inflation, industrial production, trade and fixed-asset investments. The People’s Bank of China is also scheduled to report figures for August money supply and loans.

Read moreAsian copper trades lower ahead of Chinese trade data

MTS India / Siestma – Shyma Tele, the disruptive Telecom tariffs company has gone on a rampage yet again, against Airtel and Vodafone the arrogant Telcos of India.

Sistema Shyam TeleServices Limited (SSTL) announced its MTalk plan that offers local calls at just 1 paisa per second, with 1-second billing, plus full talk-time for lifetime! STD calls are charged at 2 paisa per second. At nominal Msaver rentals of just Rs.1 per day each, customers can also choose to get 50% off on local calls, 50% off on STD calls, and 100 SMSes every day. MTS have coined this simple.

India’s monetary authority Reserve Bank of India (RBI) said in a notification that it would conduct a special repo auction for Rs 6,000 crore on Monday. The reversal of the repo would occur on September 22. The special repo by the RBI is a part of its effort to ease the credit amiability for targeted sectors, which faced severe problems in the aftermath of the global financial crisis last year.

In order to help the mutual fund industry tackle the redemption pressure, the central bank introduced the special repo facility on a daily basis with effect from October 14, 2008, offering Rs 2,000 crore everyday. The size of the lot was later increased to Rs 6,000 crore later to include the liquidity needs of non-banking financial companies and housing finance companies.

Read moreRBI to conduct special repo of Rs 6,000 crore

Aurobindo Pharma has received two approvals from Swissmedic, Government of Switzerland for the license of Amlodipine APL 5mg and 10mg tablets and Metformin APL 500mg, 850mg and 1000mg tablets.

Amlodipine APL 5mg and 10mg tablets fall under the Cardio Vascular Disorder (CVD) therapeutic segment and is indicated for the treatment of angina pectoris and mild to moderate hypertension, alone or in combination with other antihypertensives.

Read moreAurobindo receives Swissmedic approvals for Amlodipine Besylate, Metformin