Business

The results are the first since the company entered crisis mode with the March 10 crash of an Ethiopian Airlines jet, which along with an October Lion Air crash claimed 346 lives.

Amit Jain had joined the app-based ride-hailing company as its India operations chief in 2015.

At the NSE, shares plunged 23.17 per cent to hit a one year low of Rs 126.65.

The 30-share index was trading 309.56 points or 0.79 per cent lower at 38,830.72. The NSE Nifty too plunged to 101.80 points, or 0.87 per cent, to 11,651.

Top gainers in the Sensex pack were IndusInd Bank, ICICI Bank, ONGC, L&T, Maruti, Asian Paints, Bajaj Auto, Hero MotoCorp, M&M, Kotak Bank, TCS and Axis Bank, ending up to 3.96% higher.

Strengthening of the greenback vis-a-vis other currencies overseas and rising crude oil prices in the overseas market added pressure to the domestic unit.

Both BSNL and MTNL were asked to match the 3G and BWA spectrum price determined in auctions that were held in 2010 across all circles where they operate.

Selling of the American currency by exporters and IMF's bullish growth outlook for the Indian economy is said to have strengthed the local currency.

The option to pay Goods and Services Tax (GST) at reduced rate of 6 per cent would be effective from the beginning of the financial year or from the date of obtaining new registration during the financial year.

Airlines could expect an annual relief of up to Rs 5,000 crore by way of input tax credit if ATF is brought under GST.

During the week, the Sensex advanced by 182.32 points, or 0.48 per cent and the Nifty gained 42.05 points, or 0.36 per cent.

Top gainers in the Sensex pack include IndusInd Bank, Yes Bank, Infosys, TCS, Vedanta, M&M, Kotak Bank, M&M, Sun Pharma, ONGC and ICICI Bank, rising up to 1.60 per cent.

The benchmark interest rate was cut to 6 per cent, a move that will result in lower cost of borrowing for the banks that are expected to pass it on to individuals and corporates.

The airliner went down soon after taking off on March 10, killing 157 people in the second deadly crash of a 737 MAX aircraft in less than five months, forcing a worldwide grounding of the model.

In a statement, the airline said that it remained committed to honour its obligations towards all its employees, including pilots and engineers.

Investors had criticised Birgitte Bonnesen for her communication and the way she has handled the allegations, which have sparked investigations by regulators and wiped a third off the market value of Sweden's oldest savings bank.