Currently, SpiceJet promoters led by Singh, who is also the Chairman and Managing director of the airline hold 56.5 percent stake in the company of which 37.9 percent is pledged with various lenders.

Singh will have to be present in the court on January 10, which is the next date of hearing.

Motilal Oswal recommended Neutral rating on Mahindra Logistics with a target price of Rs 330 in its research report dated October 25, 2023.

Sharekhan is bullish on Mahindra Logistics has recommended buy rating on the stock with a target price of Rs 455 in its research report dated October 25, 2023.

Mahindra Logistics Ltd. key Products/Revenue Segments include Services Rendered and Other Operating Revenue for the year ending 31-Mar-2023.

Nifty Auto, Nifty Bank, Nifty Energy, Nifty FMCG, and Nifty Infra were trading with gains, while Nifty IT and Nifty Pharma were in the red.

In the last five days, Mahindra Logistics' shares have fallen over 7 percent on the NSE.

Net Sales are expected to increase by 1.9 percent Y-o-Y (up 4.5 percent Q-o-Q) to Rs. 1,351.4 crore, according to ICICI Securities.

In addition, according to the banker, Gangwal is reportedly upset since the rumours "misguided" retail investors and is considering to request market regulator SEBI to probe into the matter.

SpiceJet in September said it had completed the payment of Rs 100 crore to former promoter Kalanithi Maran's KAL Airways.

SpiceJet has already commenced the induction of 10 leased B737 aircraft of which three leased B737s and one A340 have been added back to the fleet, a CNBC-TV18 report said

The NCLT has adjourned the Spicejet case to November 7, owing to the talks but sources close to the development say that the parties have reached a settlement.

The Supreme Court had warned SpiceJet’s CMD Ajay Singh of ‘drastic measures’ if the company does not clear its dues.

The budget airline also noted that it would make a payment of $1.5 million in the Credit Suisse case, in accordance with a court directive.

The fleet deployed by Mahindra Logistics will mainly facilitate Flipkart's e-commerce parcel movements through hub-to-hub operations.

Saurabh Taneja will be the new Chief Financial Officer, effective September 1, while Ashay Shah will be the Head – LMD & Strategy, effective October 1.

Motilal Oswal recommended Neutral rating on Mahindra Logistics with a target price of Rs 370 in its research report dated July 25, 2023.

Sharekhan is bullish on Mahindra Logistics has recommended buy rating on the stock with a target price of Rs 455 in its research report dated July 25, 2023.

The quarter ended June 30, 2023, saw Mahindra Logistics report a net loss of Rs 8.30 crore, compared to a net profit of Rs 13.64 crore in the same period last year. Despite a 7.78 percent YoY rise in revenue, the supply chain management segment experienced a significant 97 percent YoY profit decline. Analysts attribute the muted quarter to slowing network expansion in e-commerce and consumer markets.

The airline, which has been facing multiple headwinds, was placed under enhanced surveillance recently.

The case is likely to come up for hearing again in the third week of August

Mahindra Logistics reported Rs 8.30 crore net loss in the quarter ended June 30, 2023, as against Rs 13.64 crore net profit reported in Q1FY22.

All information given is only for educational purposes. I am not a SEBI Registered analyst. Please consult your financial advisor before investing.

With this fund infusion by the promoter, SpiceJet would be entitled to additional credit facilities of Rs. 206 Crore under the Emergency Credit Line Guarantee Scheme (ECLG Scheme).

In the month of June company informed that it shall declaring its financial results for financial year ended March 31, 2023 in the coming weeks and the intimation about the same shall be provided to the exchange in due course.

The Supreme Court had on July 7 pulled up SpiceJet and said it will have to pay over Rs 350 crore to Kalanithi Maran.

he stock has lost 22 percent since January 1 on the Bombay Stock Exchage.

SpiceJet, which is operating about 250 flights a day, isn’t alone. Air India Ltd., the nation’s second-largest carrier, slid to fifth from second in the punctuality ranks, with almost twice as many flight delays in May as a month earlier.

This 'successfully closes the entire loan account which was taken in 2012. The repayment of the loan amount releases all securities that had been pledged with the bank', the cash-strapped airline informed exchanges

Despite a slowdown in some end markets, Mahindra Logistics' core third-party logistics (3PL) business has shown positive momentum in terms of order intake and margin expansion, the company management said during the call.

Asked about concerns on hike in airfares as a consequence of competitor Go First filing for voluntary insolvency, the SpiceJet chief said: "Those are temporary phenomena".

SpiceJet, which is facing financial headwinds and an insolvency plea by an aircraft lessor, had recently hived off SpiceXpress.

The partnership with the U.S.-based engine services provider "will reduce maintenance expense and minimise aircraft downtime, enhancing the airline's overall performance," Spicejet said in a statement.