News Overview

On Monday, the rupee fell 6 paise to 83.44 versus the US dollar, reflecting significant losses in equities markets.

IndiGo's market share rose to 60.5% in March 2024, from 60.1% in February. IndiGo ranked third in on-time performance (OTP) at 81.3%.

Following Lemon Tree Premier, which opened in Kathmandu earlier in April, Tigerland Safari, a Lemon Tree resort in Chitwan, Nepal, is the company's second property in the neighbouring country.

IREDA was down 4.96% but significantly off its day's low of ₹153.25 on the National Stock Exchange (NSE), closing at ₹158.90.

The project will be developed by Mahindra Susten, its platform for sustainable energy, in collaboration with the Ontario Teachers' Pension Plan Board, a strategic partner.

It is anticipated that the acquisition will expand the company's presence in Tamil Nadu and Kerala, two southern markets.

At the end of trading, the Sensex dropped by 845.12 points or 1.14% to 73,399.78, while the Nifty declined by 246.90 points or 1.10% to 22,272.50. Of the total stocks traded, 761 advanced, 2,636 declined, and 102 remained unchanged.

The company's board has decided not to declare an interim dividend for fiscal year 2023-24.

Potential markets for expansion include Maharashtra and Uttar Pradesh, with a capital allocation of around ₹1,000 Crore.

In January 2024, Reliance Power signed an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh to THDC India for ₹128.39 Crore.